Can Bitcoin trading be my sole source of income?

[carlisle1]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

It is not safe expecially for someone who is not experienced in trading, as young trader you need a source of income that can fund your trading , and won't let you depend too much on the profit of your trade. If at all one should quit job for trading,  their  must at least good experience over the years in trading, you can't just start trading and thinking of quiting your job to concentrate on trading as a source of income, it is a wrong financial decision.  Trading is unpredictable.

I also see that way, unless you already gain the knowledge that you need to have a good patterns and sets of strategy that you can rely
while dealing with your trades.

Having a main source of income and use trading as additional or means of your investment might give you a better chance to establish your future goals.

Trading is a venue where you can't just place your position and expect to generate profits, it's a two-way outcome where chances to lose
is always possible, there's always risk anticipating aside from a possible benefits.

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[newdevices]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

It is not safe expecially for someone who is not experienced in trading, as young trader you need a source of income that can fund your trading , and won't let you depend too much on the profit of your trade. If at all one should quit job for trading,  their  must at least good experience over the years in trading, you can't just start trading and thinking of quiting your job to concentrate on trading as a source of income, it is a wrong financial decision.  Trading is unpredictable.

I also see that way, unless you already gain the knowledge that you need to have a good patterns and sets of strategy that you can rely
while dealing with your trades.

Having a main source of income and use trading as additional or means of your investment might give you a better chance to establish your future goals.

Trading is a venue where you can't just place your position and expect to generate profits, it's a two-way outcome where chances to lose
is always possible, there's always risk anticipating aside from a possible benefits.

It's not ideal if you place trading as your main job, because as you said, the risk will always be there, namely experiencing a loss,
trade better make it as an additional income only which we do not depend on it,
what is clear trading will not always be profitable.

[AicecreaME]

If you don't want your job anymore and want to go full time in trading, quit on your job.

But, if you're going to be practical and want to play it safe, you could do trading, just don't quit your job. You could gain experience in trading little by little by spending some time trading when you don't have work, like every weekends or any day when you don't have anything to do. Then, when you know you can do it, quit your job then go full time in trading.

[Mauser]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

No it's definitely not safe to quit your job and become a full time crypto trader. Trading income is not guaranteed and is not going go be constant. That is a very difficult decision that   you should think about in detail and don't make it a hasty decision based on emotions. A successful trader needs two things, experience and capital to make a lot of money. You could always get around one or the other with some help, but if you are young without experience and no real starting capital, than it's really hard to make. To live of your trading income you need constant payouts to buy food and pay your bills. Before taking such a drastic step I would recommend you a crypto portfolio on the side and see how profitable you are. Quitting our job and losing our main source of income can be devastating.

[Yamifoud]

If you don't want your job anymore and want to go full time in trading, quit on your job.

But, if you're going to be practical and want to play it safe, you could do trading, just don't quit your job. You could gain experience in trading little by little by spending some time trading when you don't have work, like every weekends or any day when you don't have anything to do. Then, when you know you can do it, quit your job then go full time in trading.

That is a good suggestion because learning can't be instant. Meaning it takes time and more experience before we fully understand trading and make ourselves confident that we can earn profit from trading and make this our main source of income. If we quit our job, meaning we are cutting our one source of income. So it must be sure that we earn enough from trading similar or more from what we get from our job otherwise, leaving is not the right option to take. So OP, should have to think it several time and consider the impact in your finances when you don't have salary to receive at the end of the month.

[SaveOurSea]

If you don't want your job anymore and want to go full time in trading, quit on your job.

But, if you're going to be practical and want to play it safe, you could do trading, just don't quit your job. You could gain experience in trading little by little by spending some time trading when you don't have work, like every weekends or any day when you don't have anything to do. Then, when you know you can do it, quit your job then go full time in trading.

I think the best option is to stay in your job and do trading on the side,
because if trading as the main job maybe it's too risky so it's not recommended,
trading is not always profitable and sometimes it's easy to lose money so it's very risky.

[SmartCharpa]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

It all depends on your choices, but if your white collar job pays well, I don't think quitting to start trading bitcoin is the best course of action for you to take. After all, you never know how the world will change in the future; perhaps bitcoin will continue to develop and enable you to trade for even greater profits. Therefore, my advice to you is to keep working at your white collar job while continuing to invest.

[Altryist]

No it's definitely not safe to quit your job and become a full time crypto trader. Trading income is not guaranteed and is not going go be constant. That is a very difficult decision that   you should think about in detail and don't make it a hasty decision based on emotions. A successful trader needs two things, experience and capital to make a lot of money. You could always get around one or the other with some help, but if you are young without experience and no real starting capital, than it's really hard to make. To live of your trading income you need constant payouts to buy food and pay your bills. Before taking such a drastic step I would recommend you a crypto portfolio on the side and see how profitable you are. Quitting our job and losing our main source of income can be devastating.

You can quit your job any time you're sure you can get by without it, but until then you really shouldn't quit your job. From my own experience, I have repeatedly convinced, that income in trading is not constant, and you need to be prepared for this from the very beginning. In addition to a good trading deposit, you need to have money set aside in case of trading failures. But I am convinced that you should have a source of stable income other than trading.

[Lorence.xD]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

It all depends on your choices, but if your white collar job pays well, I don't think quitting to start trading bitcoin is the best course of action for you to take. After all, you never know how the world will change in the future; perhaps bitcoin will continue to develop and enable you to trade for even greater profits. Therefore, my advice to you is to keep working at your white collar job while continuing to invest.

Yes, it would still be better if you have alternate source of income and not relying to the profits you might earn in the Bitcoin. Because despite the knowledge and experience we are still not guaranteed what would be the outcome of Bitcoin in a mean time since it's volatile it changes from time to time.

Just consider Bitcoin as your sideline so you if you income you could still enter funds in the market for you to invest. Simple as that, but yeah it's still depends if you don't have a stable job maybe learning and studying Bitcoin could be good still it would take time to fully understand crypto. In short just work and invest.

[Sterbens]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

I wonder why it occurred to me to quit my job and decide to gamble my earnings on crypto trading. This may be a ridiculous option, when you have 2 incomes why give it up just because you have made a few dollars and then confidently decide to quit your main job?
No matter how ideal you get from crypto trading, which is volatile and not always in profitable conditions, plus greater risk, while you can still avoid and are in safe trading, it doesn't mean that all of this illustrates that earnings will continue to be fine. However, nothing can prevent it because the final decision is yours. Just giving advice based on the experience of many people and the results are always not good. If you are sure and still want to quit your main job, that's right and you live it. After all, 2 to 3 months you will feel the impact.

[tygeade]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Why choose to stop working? And what reasons make you encouraged to be involved in Bitcoin trading? Can't you do it simultaneously and try to manage time to be involved in the Bitcoin trading. I think you have to review the decision and also you have to learn about Bitcoin votality when you trade.

I think most people do not enjoy their work, which is a reason why they would rather quit. My work is lovely, I may keep going even if I have the money but to be fair if I am rich there are so many things I would also like to do that I can't do right now, until they are done maybe I would give a few month break before I got back to it.

Obviously when we are talking about this situation that means we are going to end up with a lot of people who HATE their job and that is why they are going to do whatever they please if they can quit their job and make money from bitcoin trading. Not saying that they would, it's a tough thing and most likely that they won't be able to make money like that and there is a chance that we could end up with losing money instead of making it, but that's their reason.

[LUCKMCFLY]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

It's safe but one that has become full-time in trading bitcoin has understood the risk that he's going to take. I advice you not to quit your job while trading bitcoin.
You can do the same thing at the same time without even the need for you to resign from your job. This is a risky market and volatility shouldn't be taken easily since you're still new to this. A full time trader can't only be found in Bitcoin but also in other markets like stocks, you'll see people that have committed and decided to go full time with those because they know that they can.

I think that what Influences there is the decision and the power of knowledge that the person has, he could not deny that it is too risky a decision, but if he makes it, it is a matter of being very sure that he will win consistently and that he obviously has a very big so that you can resist the losses and can recover with other trades, that is always the hope, otherwise I think it would not make sense, because if you have Little capital and if you arrive with a bad Streak then you lose everything,then trading is not something That it is decided in this way to be a Profession that is taken as a way of living, otherwise the required responsibility must be very well Assumed.

[ancafe]

I think most people do not enjoy their work, which is a reason why they would rather quit. My work is lovely, I may keep going even if I have the money but to be fair if I am rich there are so many things I would also like to do that I can't do right now, until they are done maybe I would give a few month break before I got back to it.

This is a much more reasonable reason and does not use the excuse of leaving a job to invest in bitcoin. Everyone must have a fed up point in his work and anyone must have felt it, but when we try to enjoy and try to take a few days off to relax on any mountain in the sea it will be much better. This method can have a positive effect on people who get bored at work and vacation is one way to make us a little more relaxed to get rid of boredom.

Obviously when we are talking about this situation that means we are going to end up with a lot of people who HATE their job and that is why they are going to do whatever they please if they can quit their job and make money from bitcoin trading. Not saying that they would, it's a tough thing and most likely that they won't be able to make money like that and there is a chance that we could end up with losing money instead of making it, but that's their reason.

The purpose of investing is one way to make profits and the volatility of bitcoin is one of the definite reactions that will arise from the investments we make and imagine how the lives of people who stop working and then choose the way to invest. Moreover, the condition of income and expenses is no longer stable because it stops working, in the end the investment made in bitcoin will be cut in half as a fulfillment of daily life and under certain conditions the investment capital runs out and is not left because other sources of income are not owned.

[Games.Bitcoin]

Bitcoin trading has the potential to become a sole source of income for some individuals, but it comes with significant risks and challenges. Successful trading requires extensive knowledge of the cryptocurrency market, technical analysis skills, risk management strategies, and the ability to make informed decisions in highly volatile and unpredictable conditions. Additionally, the market can be influenced by various factors, such as regulatory changes, technological developments, and global events, which can significantly impact the value of Bitcoin. As a result, relying solely on Bitcoin trading for income is not advisable for most people, as it is inherently speculative and can lead to financial losses. It is important to approach Bitcoin trading with caution and consider it as a part of a diversified investment portfolio rather than relying solely on it for income.

[macson]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

no one will be able to ensure anything for your future unless you yourself are working hard to change it by making high-risk decisions, why do i say high risk, it's because you have the desire to leave your stable job to trade which i'm sure you don't have good skills for that.

think carefully about everything, don't regret the decision you made, and lower your expectations at the start, if indeed you are ready for all the risks that you will get then do it = quit your job and focus on trading Bitcoin.

[Nrcewker]

~

80% kinda high though possible. Just not that easy considering the volatility, don't you think?

Definitely not easy but OP said asked if trading can be his only source of income so 80% is what I felt the best estimate so OP can subsist on just trading.

Trading isn’t easy money or trading doesn’t mean sure money. In order to trade you need to have great knowledge and research about the market. You need to understand and get adapted to the market and the movements of the coin. Here everytime the market is uncertain, hence making profit also very uncertain. Now if you have a family and have bills to pay, then completely relying on trading will be a big headache for you. Treat trading as a side source of income.

[Sexylizzy2813]

Bitcoin trading can be profitable only if you're lucky and having a strategy that works well or favors you, that's to say it depends on how the market price flow, it can go in your favor or it can as well go south, so depending on one means of making a healthy source of income isn't advisable to me, is like putting all your eggs in one basket.
Anyone in the world today with the right accounts or technical knowledge can participate in cryptocurrence. The lending and earning platform in cryptocurrence has a unique risk and are not insured by any government agency.

[LUCKMCFLY]

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

I'm not going to forever say that quitting a job that doesn't pay well is bad. I mean, some workers are just so low paid out there who may no longer be able to make ends meet since inflation is getting worse. So if supposing you are a trader who has a good budget, you can make worth profits with it, then it might be good to focus on trading instead of forcing yourself to work where you are not well appreciated.

But it is also good if you have your own business instead of just focusing on trading because you can never know if you will make a profit every trading time frame or you may even lose due to price volatility. Have your own business, it will help you have financial stability.

This is a very personal decision, if a person believes that they have enough skills to leave their job and only do it in commerce, it is the decision of e ékl and no one else, I think that this is the only path that many find remains, there is no Other , however when we start to think about the things we can do, it is not bad to be a full-time Trader, the important thing is that you can develop and do things well, because Otherwise what What you will achieve will be to lose a lot of money , and after Starting from scratch it is not advisable to Trade if you do not Know very well how the Market is.

[Sebas.tian]

If you quit your Job and face only crypto trading, it will really affect your income because crypto trading is different from other business which you can predict what you will achieve in weeks or months later when you invest such amount of money. It will be better to continue maintaining your job and crypto trading, when you receive payment from your job then invest it in Bitcoin and wait for the price to increase higher in a way you will sell to make a good income that will make you to like crypto and Bitcoin trading in the community. Do everything possible to apply long term trading which is the best strategy many potential traders are using to grow their incomes in the society.

[Dzwaafu11]

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

If you think carefully, you will realize that quitting your job and concentrating solely on trading is a mistake. You will see that in trading, the money you lose outweighs the money you gain, so what do you think will happen to your finances if you do that? I don't know if you think or believe that you will always be making money that you won't lose, therefore No, it won't go like that. As you can see, trading cryptocurrencies is not like other jobs where you always have to return with with money, you must lose where as your job i believe anytime you go you will come back with money even it is small.
 
However, if I had to give you advice, I'd say to concentrate on your work and schedule time for trading instead of quitting your job. If you leave your job and trading doesn't go as planned, you might end up regretting it later without realizing that you were the one who thought it through and made the decision yourself.