Which is more lucrative between mining and trading bitcoins?

[Truthlovecoins]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

[_act_]

Mining needs huge capital before you can start. If you have 24 hours electricity and if it is cheap, mining is better. Trading turns some people into depression as they continue to trade and continue to lose money. Trading can be good if gotten appropriately, but many traders are losing. If you can be patient and not in rush to make money and learn about trading very well with small amount of money, you can get it right, but know that trading can cause loss of money than mining.

[Plaguedeath]

If you don't have any job and trying to make money through Bitcoin, it's not as simple as you think.

Bitcoin mining require decent understanding about mining rigs, how to operate it and how to maintain it. You can't just buy few ASIC miners, mine it and hope your mining hardware will make money easily. Don't trust cloud mining, it's scam.

Bitcoin trading require skill too if you're want to make money everyday, you can do short term trade by buy low and sell high, but it may take after 3 days, a weak, a month depends on the market. Except you're fine to sell at lose.

So the more luctrative is mining Bitcoin, trading Bitcoin, gambling Bitcoin, invest in Bitcoin.

[acroman08]

which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?

both can be lucrative but if you are new to cryptocurrency it would be better for you to do your own research first on Bitcoin mining, Bitcoin trading and bitcoin and cryptocurrency in general. that way you have an Idea of what you are getting into and not just rely on what people say on which of the two will be more lucrative.

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

if you have skill/s that you can offer online, then you can offer your service and ask to be paid through Bitcoin, we have a board here where you can post your Service. you can also try HODLing Bitcoin.

[Zaguru12]

First I would say both aren’t something you need to just jump into like that, because they both need you to acquire knowledge. As for mining it is not that profitable for an individual like the early days, you need special mining equipment like ASIC which are more expensive than the GPU used in the early days. So with more miners in the mining business today having a less expensive equipments isn’t profitable, that is why most People join cloud mining but still the percentage profits is not that high. Also mining requires electricity so you might have to look for a place that actually charges less for electricity. And if you are in a country that is actually against mining or bitcoin itself then it becomes a big risk to mine there as you could get caught.

As for trading it also requires capital but the biggest challenge is having its knowledge. You need extensive knowledge about how stuffs like spot, leverage and future trading works. Also about financial managements. One risk about trading again is having to put your coins on centralized exchanges because they have more features in trading than the decentralized exchanges.

The easiest way to earn in bitcoin without much risk is to buy and hold.

[Rigon]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

Since mining requires enough bitcoins and mining equipment and a lot of electrical supplies to start, you may not be able to pay that much in the first stage, which makes mining not suitable for you. On the other hand, trading platform is a very risky business. You can easily earn money from trading, but your chances of losing money are high in trading platform. Still if you can master the trading from the trading platform then you can earn money from it. You can't make money from trading platform very easily, to make money here you need to be very knowledgeable, be patient, avoid greed, have strategy, then you can make money from trading. Finally I can say that mining is much more profitable than trading. You can get hurt from trading but you can't get hurt from mining.

[_act_]

Bitcoin trading require skill too if you're want to make money everyday, you can do short term trade by buy low and sell high, but it may take after 3 days, a weak, a month depends on the market. Except you're fine to sell at lose.

With knowledge, mining becomes simple. With knowledge, trading can be a way to lose money. Mining is better. Trading is good if it is done in a professional way, but most people learn but did not become professional, they will trade and lose.

I too will prefer holding bitcoin, but the time for profit may take time, unlike mining. If you have good and cheap electricity, mining will be the best. But in a time like this when bitcoin price is low, investing is good too.

As for trading it also requires capital but the biggest challenge is having its knowledge. You need extensive knowledge about how stuffs like spot, leverage and future trading works. Also about financial managements. One risk about trading again is having to put your coins on centralized exchanges because they have more features in trading than the decentralized exchanges.

Trading requires knowledge, but not only knowledge, it also requires experience and patience. With $10 to $20, he can start. After many months, he can trade with $500 to $1000 and make money. But losses can be what that will happen because trading is very risky.

Good traders should just trade without leverage. Leveraging is only for special times, like when the price of bitcoin has decreased significantly. The leverage should not be too high. 5x is getting too high.

[Taskford]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

Depends on your financial capabilities since there's really huge difference between this two selections and consider this things.

Mining you need to put up huge capital since latest or high end hardwares is needed so that you can farm decently and imagine how much it cost to build up since you also need a facility with proper ventilation so that no issue will happen to your mining farm. And you also need big funds to spend on maintenance so think about if you can afford all of this although I can't give any figures but you cam do a research on this.

Trading you can start up using small amount but you also need some time to spend on researching since you need to get updated on the current events on crypto space. Also to many things need to learn especially on your emotional aspect so try to do some trades and you will understand how difficult to execute this especially the market is so unpredictable.

[Cantsay]

Since there are factors to consider before venturing into mining industry it will be safer for you to first go through all the stuffs required to start mining and calculate the cost of them if it's something that's affordable for you or not.
Remember you can't just use any laptop or desktop to mine Bitcoin, mining Bitcoin requires ASIC which will also cost you some money and the electricity you're going to use will still be a problem for you if it's not stable and also if the cost of electricity is expensive in your location.

Trading Bitcoin might be profitable but you'll still have to acquire knowledge of trading before you can successfully make it big in trading, which is not going to happen overnight and will also require your time and commitment to learn.

What I'm trying to say is if you want to earn well in crypto you'll have to go through some process but if you don't have any knowledge whatsoever then you can consider buying and Hodling Bitcoin for long term.

[Queentoshi]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

Bitcoin trading and mining are both lucrative but they both require capital and knowledge to engage in. Mining requires a lot more than initial capital because it involves plenty money to be able to sustain and keep your mining profitable. As a newbie you may not need to be in a hurry to start any of them, just buying and keeping it can be good for you, but since you are in a hurry, you may feel that that is too slow. Always remember Bitcoin cannot make you get rich quickly.

[tech30338]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

Mining VS Trading

• Mining needs big capital since i think you want to see those mining rigs running, trading on the other hand you will need one computer a decent one to begin withl
• Electricity is a concern since you will need to contact electricity provider meaning you will need to process lots of papers and a lot of money as for permit
• It will be a big challenge for you to go to trading in the start but , if you can control your emotion and hodl when you have bought the dip you'll be fine
• Avoiding scams and compromise your network is also a concern, avoid making other transaction on the network
• Securing also your wallet in trading is a must same with mining

If you'll ask my opinion I would go for trading since bigger chance of profit just study the coin first or do more research, mining is not the same, unlike year 2009-2016 things have change, electricity cost are high, solar power needs huge capital to build.

[Z390]

Bitcoin mining needs a lot of capital to start, you also have to make sure that your electricity bill is very cheap and you have to spend money on the best ASIC miners to get the best out of your Bitcoin mining.

As for trading online you don't need much money, before I started my trading lessons I always use a demo account for training and when the time is right I started with $20 to try out my knowledge with trading, and to my surprise things seems very fine for me, So trading is easier but it is also risky.

If we are to talk about which one is more profitable, that will be very difficult because to make money out of trading you have to be very good at it and you can make life-changing money with trading if you know what you are doing.

As for Bitcoin mining, after spending a lot of money on equipment you have to keep mining Bitcoin and hold your bitcoin to get the best profit out of your mining, now we are in bear market, you should mine and hold for better ROI.

[passwordnow]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

I'll choose to mine if I've got the resources to buy all of those ASICs that can sustain somehow my daily living as well as help my family. But, it's not that easy to do because it will require you much capital. Whilst in trading, you're taking all the risk and it's not easy as well even if you've got the resources and capital, you need to grow it through trading. With all of the choices to sink in to my reality, the best option which will be agreed by many is just to buy and hold. Nothing beats that honestly.

[Findingnemo]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

I advice you to choose the trading and learn more about trading, strategies, analysis types,etc

Trading can be started by anyone who has smartphone, internet and small amount as trading capital whereas mining is no more profitable for individuals unless they have enough hash power to beat the existing miners all around the world so I don't even know how much capital needed for someone to build that big mining farm in this 2023.

[CryptopreneurBrainboss]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading? 

Investing, that's what's perfect for a newbie just joining the industry, you can catch up with other means of earning from the industry in the future when you have understood the industry properly but if you're just starting then focus on investment. Investing has no stress involved, you'll just have to buy your Bitcoin and hold. After it gets to your targetted price you sell and either reinvest the profits or do with it as you please.

Both mining and trading are good means to keep the cash flow coming but I strongly recommended you shouldn't be much interested in cash flow at the moment. If you still want an answer between your options then I'll favour trading to mining. Starting up a mining farm is very costly that if you had invested that money into your trading account you would probably make more profits trading then mining (this can only be possible when you're good at trading). If you don't know how to trade then don't go for trading unless you're okay with learning before you start.

[BIT-BENDER]

Well I can say if you have gone far in both Bitcoin mining and trading of Bitcoin there are good profit to be made from both of them now it depends on how good you are in the field. Also you need understand of Bitcoin mining and also understanding of Bitcoin trading. Finally you need to understand the capital it takes to set up both the Bitcoin mining and Bitcoin trading
Read this helpful link to understand Bitcoin mining
https://www.investopedia.com/terms/b/bitcoin-mining.asp
https://cointelegraph.com/news/how-to-build-a-cryptocurrency-mining-rig
https://www.bitcoin.com/get-started/create-bitcoin-wallet/

This can help you understand trading the basic level
https://www.investopedia.com/trading-4427765

[Cryptomultiplier]

What I can advice is to stick to just investment for now.
In the sense of buying BTC and just stock pile it up for a duration. I have not seen any other better method apart from this for newbies.
My why is simply, once you get to learn more about the market and technicality involved in making profit from BTC investments, questions like this would sound much more like, you giving direction to old users on how to overcome charges hike and keep phrases secure and wallets secure from hackers and scammers.

[drwhobox]

Mining needs huge capital before you can start. If you have 24 hours electricity and if it is cheap, mining is better. Trading turns some people into depression as they continue to trade and continue to lose money. Trading can be good if gotten appropriately, but many traders are losing. If you can be patient and not in rush to make money and learn about trading very well with small amount of money, you can get it right, but know that trading can cause loss of money than mining.

I am also against trading, OP is already frustrated with his life and family and has a family to take care so it is better to avoid extra pressure from trading. Also trading needs more practice and time to master the skill. On the other hand mining need huge capital and continuous supply of electricity if OP can have the budget to mine bitcoin it is better to start mining. Mining is also kind of passive income you can do other things along with mining.

[Baofeng]

I am looking to start my Bitcoin journey from somewhere that would be of advantage to me as the economic situation in my country bears down hard and with having family to Carter for, it is rather exhausting.
Without much physical mentors with real life experiences except for YouTube and this forum where I feel I can ask good questions and be answered well, am asking, which is the more lucrative endeavour for a newbie hoping to benefit from cryptocurrency at first between Bitcoin mining and Bitcoin trading?  

Are there other Bitcoin endeavours one could be interested and invested in, other than trading and mining?

None, as a newbie you should stay away from mining, (solo mining) as this is not suitable anymore as it will cost you huge money. Trading? yeah it might be good but if you don't have the experience then you could lost money as well in the beginning.

The best thing for a newbie is just simply accumulate bitcoin thru DCA.

You can used this simply app: https://dcabtc.com/

[kamvreto]

The Cryptocurrency market is currently still unstable and Bitcoin price is down around -70% from the last ATH price. At this time it is more advisable to buy and hold long term, or if you have good trading skills it is also necessary.
And for mining at this time it is not recommended because mining requires quite a lot of money and the profit for mining is still very minimal.
The biggest expenses for mining are the large electricity consumption and maintenance costs for the mining tools used such as VGA Cards.