Which is more lucrative between mining and trading bitcoins?

[hatshepsut93]

Trading is not a money making method, it's more like gambling. There is no proven strategy that would allow you to be in profit in the long run. The only strategy that has been working well so far is buy and hodl for at least 2-3 years, but that's not trading, it's long term speculative investment.

Mining can be quite profitable, but you need to have access to cheap electricity, you need to have some money to invest in equipment and run the operation, you need to deal with legal risks, because in many parts of the world mining without permission would get you into trouble. And lastly, mining comes with a risk - the price can fall and your operation will become unprofitable.

Also, stay away from cloud mining, it's a 100% scam.

Bitcoin journey doesn't have to be trading or mining or sig campaigns or bitcoin business. You can just earn fiat money and buy Bitcoin with them.

[cryptoaddictchie]

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

Im not sure how aside from this would you make profits in bitcoin. Here in forum some are being incentivized  bitcoin through signature campaign and sometimes raffle or any form of games. But doing trading is a gamble unless you know how to deal with charts and indicators of trading but still its not guaranteed. While in terms of mining, based on what I read from experience miners, their profit is not huge and especially if its conaumption is quite high on electricity. Maybe on some countries that have free electricity this is very profitable but only few areas or countries have that kind of privilege. The best one to gain profit is investment. Buy bitcoin at some point and forget about it. See it for like few years and boom. Who knows how much profit you already made.

[Jimmycrooks]

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?

If you have enough money then you can focus on mining Bitcoin. Beware!, there are alot of risks involved, it is more complex than regular bitcoin trading and requires alot of maintenance too. So make your research and choose the one the suits you more .

[Luffygroove]

Hmm, probably you need to first understand what's behind bitcoin mining and trading. Let me try to explain the difference:
1. Bitcoin mining is the process of using special equipment to solve hard tasks and get paid in Bitcoin. Mining needs a big investment up front, technical understanding, and cheap electricity. It can be successful, but there are now a lot of people doing it. This means the difficulty is already increasing and the rewards could be decreasing; besides, the next bitcoin halving will come in 2024.
2. Bitcoin trading is buying and selling Bitcoin on platforms for other cryptocurrencies in order to make money from price changes. You don't need expensive tools to trade, but you do need to learn about market analysis and trading techniques. It can be easier for people who are just starting out, but it also has risks.
Other things you can do with Bitcoin are: invest, which means just getting Bitcoin and keeping it as a long-term investment; stake, which is the act of holding certain coins in order to help the network run and get rewards. Lending, which is using reputable platforms to lend your bitcoin and make interest and development If you know how to code, you can help make Bitcoin and other similar projects better.
Now, it depends on you to decide which one is most suitable for your current condition.
 

[Outhue]

They are both lucrative but choosing one depends on who is choosing, trading may be more interesting to you than mining or vice-versa, it's something you won't understand until you try them out first, I've tried mining and I notice it's best for those with cheap grid power, unfortunately, I am from a country where grid power sucks and I still went to invest on solar power to start mining, I got tired of everything when Ethereum mining came to an end and I sold all graphic cards.

Trading is not my main way of making money but it's a plus, I do day trades on Bitget and Binance exchange three times or more in a week, sometimes I quit if the market is too uncertain for me, Trading is more risky because you can lose all your money, but mining is less risky if you can focus on Bitcoin mining, the worst is less profits and if you can hold for a long period of time you will reap more profits.

[tvplus006]

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

If you do not have trading skills and there are no funds for mining equipment, then the only way to get bitcoins for you will be to work in an office. This is the only way you will be able to invest part of your salary in bitcoins, while simultaneously learning the basics of trading.

[Freddie Boyer]

I think the answer is easy, it depends on the financial ability of each of us in choosing whether to mine or just become traders. But if you want to know the pattern of differences, I will try to explain a little where it is.

Mining Bitcoins It takes the name of computer hardware to generate new Bitcoins in return, Operational costs and other technical expertise. Whereas Trading Bitcoins is a way to earn profits can depend on several factors, such as skill, capital and personal preference I think this is simpler.

[letteredhub]

Both mining and trading are profitable although their start-up demands are different. For mining the amount of money needed to start is much due to the equipments you will be needing to kick off when compared to going into trading which all you primarily need is a few trading skills.  So it all depends on how much you have at your disposal at the moment. 

Based on the situation of things with you, in my opinion it's not bitcoin trading or mining you desperately need now, what you need is a real life job no matter how little but as long as it's putting food on the table and then afterwards you can use crypto trading or mining as a supportive means. This is because of the risks involved, you could lose so much in just one day with nothing to fall back to.

[Woodie]

I would say both are lucrative business ventures but the only downside of bitcoin mining is that it requires more capital than usual to be pumped in to be setup before you  start earning your first coins...not forgetting running costs which you can't run away from such as electricity, maintainance costs, etc while comparing it to trading, say p2p trading this business grows with time and has less running costs as its pretty much tied to how much capital one puts in!

So for those on a tight budget or limited capital, I would suggest trying out peer2peer trading and bank on those price  differences as your profit

[Hamza2424]

Hmm as a newbie I will recommend you trading because you can learn it by doing some experiments and spending some time on the market and it requires low difficulty requirements. Although it requires some time to start making profits by choosing the trading you have the following edges.

You just need to learn about the market.
You need a small portfolio to Start.
You can give even your full time to market for more profits.
You have a wider range of options to make money.

Mining seems more complex and requires a lot of resources such as good climatic conditions and cheap electricity and both are rare. A massive capital might cost you to start a good mining setup. Although you can face the following results while choosing to mine

You can earn by joining pools or self-mining.
You need massive capital initially to start (Because you need mining equipment).
You need a good environment for a better working setup (cool place).
You need a regular supply of Internet and Electricity.
You don't need to spend much time in learning.

[nakamura12]

Mining can be lucrative, but it depends on what country you are in because you need to spend money to have good mining equipment to start mining Bitcoin, but if you want it to have more computing power, then more money is needed to achieve it and to pay for the electricity bill unless you have other means to have electricity like a solar panel, whereas in trading, you don't have to spend money to buy equipment, maintenance, or a hardware wallet to store your crypto once you are done trading if you don't want to use a free crypto wallet like Electrum and such since you are already using the crypto when you are trading. When trading, you only need the capital you are willing to risk to make it grow, and that's why trading doesn't cost that much compared to mining.

[Agbe]

The topic of the op, the question is technical. That is which one is profitable? Mining or Trading though I have not mine before but I have involved in trading. And trading there is profit but I still take mining is more profitable that trading. In mining one can make enough bitcoin in a month but I don't think that can be seen in the trading platforms. Mining deals with decentralized system while trading deals with centralized system.

[_BlackStar]

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

Of course there is. In my opinion, it will also benefit you if you adopt bitcoin as a means of payment in your real or online business. It's worth a try as long as your country and government have legalized it, but if that doesn't then try another way.

I'm not dealing with trading and mining, that's already been explained by many other users - but something different like staking or something is also profitable. Instead of getting too confused about the best option, I think you're only better off as an investor if you have the good budget. Bitcoin price is still too low so far compared to the previous ATH, so take this opportunity to buy and hold it long term.

[BitDane]

If you are asking about more lucrative between mining and trading bitcoins, I can say both have its own risk and reward, so in means of being lucrative depends on your time frame.  Mining Bitcoins can give you a steady supply of Bitcoin rewards for continuous mining but the start up is quite huge not saying the need for maintenance and electricity charges.  You can rent rigs or buy hashes online but it will take time for you to get your ROI and start profiting.  While trading Bitcoin makes you control when you wanted to sell your holdings, so if profit is seen for a short time after purchase, you can easily get ROI and some profit from selling your Bitcoin holdings.  The difference is that once you invested in trading Bitcoin, you instantly have the grasp of the bitcoin equivalent of your capital, while investing in mining rig will only get you the equipment and will take time to get you the bitcoin equivalent of your capita but it will continue to give your Bitcoin as long as the machine don't break down.

So I can say if you plan to have access to more Bitcoin in a short amount of time, you can just buy bitcoin and start trading.  I believe if you have the talent to trading, this will give you more profit than mining Bitcoin.

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

Aside from trading and mining Bitcoin, if you have enough knowledge for Bitcoin lecture then you can organize a Bitcoin lecture program and charge for the service.  You can also create or develop Bitcoin related products if you have the skills.  After all profiting from Bitcoin isn't limited to trading and mining.

[Youngkhngdiddy]

 First of all, the answer differs from person to person. That means that mining might be a perfect fit for a unique person while trading is the only thing that creates positive results for another one.
 But keep in mind that mining could be even riskier than trading cryptocurrencies.

 To start mining, you need access to specialized computers, technical expertise, and electricity. These require high upfront costs, making setting up a mining rig costly. Bitcoin trading is easier to set up and costs far less than mining.
 Bitcoin trading is easier to set up and costs far less than mining. You can buy and sell Bitcoin with your smartphone, an internet connection, and almost any amount of money. You can also learn how to trade from many free sources online.
 Crypto exchanges allow traders to deposit and trade as little as $10 to $20 worth of cryptocurrency to start trading. Thus, making Bitcoin trading more accessible and easier to start than Bitcoin mining.You can become an effective crypto trader when you understand how to read charts, carry out crypto risk management, and make informed decisions. But you risk losing your investment if you fail to understand these things (which sometimes happens to professionals, as well).

https://learn.tradimo.com/cryptocurrencies/crypto-mining-trading
https://www.investopedia.com/articles/forex/051115/bitcoin-mining-still-profitable.asp

[tabas]

Try to look and search in your local maybe there are silent miners that have been doing that on their basements. You'll never know if someone is there to help you out so, look closely with those local communities that you're close with. There's this sense of help if you've been mining and helping the network through your own asics but it's quite expensive and those that have been doing that are aware of what they're doing. It's not just all about easy profit as people seem to think but it's more than that and maintenance and what not. So, the answer won't be with any of two if it's on me, I'll choose the traditional HODL method.

[AakZaki]

The topic of the op, the question is technical. That is which one is profitable? Mining or Trading though I have not mine before but I have involved in trading. And trading there is profit but I still take mining is more profitable that trading. In mining one can make enough bitcoin in a month but I don't think that can be seen in the trading platforms. Mining deals with decentralized system while trading deals with centralized system.

It seems you don't fully understand how mining works. It won't generate many Bitcoins if it's just a simple Mining machine. Earning more Bitcoins from mining is only possible for those with lots of mining machines (perhaps hundreds of mining rigs). and also calculate the cost of electricity and other repair costs, it will be a tough job and requires a lot of capital. Ta[i trade only need to take advantage of price fluctuations, buy at low prices sell at high prices, very simple. If you ask how much you earn, it depends on how you know the science of trading and also how much capital is used. Mining is decentralized but trading can also be decentralized depending on whether you trade on CEX or trade on DEX.

[Obari]

I don't know of your country but starting up a mining pool will be expensive that it will take a long time to realize  your profit, so I wouldn't advice  a newbie who is struggling to meet up with life attempt mining  for now and please very careful of cloud mining of any such, possibly stay totally away from them as almost all of them if not all of them end up being scam.
Well as a newbie you can venture into trading and then I've a comfortable life and with the right knowledge about trading as well as applying  those knowledge  with a decent trading capital, one can make $100 and even more a day without  having to bother so hard.
So I would advice you  go for trading rather than mining.

[Sandra_hakeem]

You haven't even got the funds to Begin mining, let alone to know if it's more profitable than HODLing...
Mining requires a high electricity voltage and it's not not open to any individual anyways. The ASIC is currently used for the process and you shouldn't be told that acquiring machineries would end up in millions.
Meanwhile, you could comfortably buy and HODL BTC and make profits in due time. There are still alot of ways to stack up BTC - all of which you only compared two... You just need to choose which one suits you.

Sandra 🧑‍🦰

[lalabotax]

In my opinion, trading is an option, but not futures or trading with leverage because it's really high risk. This is more to Bitcoin trading in the Spot market. Even though there are still risks, at least we can still hold and not lose assets when the market suddenly drops significantly. We can still wait for it to rise again, especially this is Bitcoin. Maybe the results are not too much, but if done regularly and also intensively, I think it will still be profitable. It depends on how we anticipate it and do the trading.