Crypto How to Make Profit from Crypto (for novice)

[Suba]

The price of cryptocurrency is currently in a bullish trend, the price of Bitcoin has reached above $64k, and will soon print a new ATH above $64.86K, so the attraction of Bitcoin will invite new investors. Unfortunately, these new investors generally do not have knowledge of the right investment strategy. or so optimistic that they underestimate strategy. Because crypto volatility is very high, it is very important to know the risks, goals (short or long term) and know your own skills. Next we can choose 2 strategies to make profit on crypto that suit ourselves, namely trading and becoming a Hodler (passive income). Crypto trading will be more suitable for those who have analytical skills and have a risk profile that tends to be moderate and aggressive. Meanwhile, earning passive income is suitable for those who have a conservative risk profile.

Trading
Before starting trading, you need to consider the following:
1. What types of crypto and pairs will you trade?
2. What trading indicators and tools will you use?
3. What will trigger you to enter and exit the market?

In addition, you also need to know that there is no standard or precise formula in crypto trading. Choose a trading style that suits you such as: Day Trading, Swing Trading, Trend Trading and Scalping Trading.

Passive Income Strategy
Passive income strategies or long term investors, will be very suitable for those who do not have much time or for those who have a conservative risk profile.

 

[Deleted member 28127]

Passive income means referral earning because referral will do the whole work while you are just earning commissions and hiring new people to do the work. It doesn't require that you invest in most of the time but you have just to be good at convincing people. Some projects require that you are an investor to refer but these programs don't last long.

 

[Mika]

If you are a newbie, trading can be confusing, therefore, staking is a better option to grow your crypto assets as a newbie. You can also ty yield farming to earn profits on your crypto assets. By the way, investing in various cryptos for the long term is good for everyone including newbies.

 

[Wisdom01]

There are also other methods available ,but trading since to be the fastest and easiest method to earn money through cryptocurrency ,and it depends on the system you make use of , because if you know how to trade very well ,there are high possibility that you would earn more income

 

[Suba]

There are also other methods available ,but trading since to be the fastest and easiest method to earn money through cryptocurrency ,and it depends on the system you make use of , because if you know how to trade very well ,there are high possibility that you would earn more income

If you think there is another method, it's best if you explain it so we can understand more about trading. To make a quick profit on crypto trading are you a day trader or a scalping trader and which one is easier for you to make a profit. Whether you trade by Spot, P2P or Margin trading, which one do you think is more suitable for beginners.

 

[sincerem]

Thanks alot for taking your time to explain how to make profit around cryptocurrency. I am taking my time to go into Future trading. I am hopeful that if I manage my time well, learn the steps well to analyse the market exponentially I'll come to reap the reward trading Futures at Binance and another exchange that accepts Future trading.

 

[Suba]

Thanks alot for taking your time to explain how to make profit around cryptocurrency. I am taking my time to go into Future trading. I am hopeful that if I manage my time well, learn the steps well to analyse the market exponentially I'll come to reap the reward trading Futures at Binance and another exchange that accepts Future trading.

A very promising step forward if you are currently doing futures trading, I'm sure, you can benefit in both directions either on the Long or on the Short. I hope you can determine the Leverages margin wisely to get the maximum profit. and also have to be careful not to take the wrong position because your losses will multiply, and maybe your balance will be zero. Good luck bro,

 

[Ahmedo24]

A very promising step forward if you are currently doing futures trading, I'm sure, you can benefit in both directions either on the Long or on the Short. I hope you can determine the Leverages margin wisely to get the maximum profit. and also have to be careful not to take the wrong position because your losses will multiply, and maybe your balance will be zero. Good luck bro,

I guess you are well informed about future trading and margin trading, that is an area and still trying to get used to though I was told it is a very risky form of trading and can be very profiting if one is lucky can you shed more light on your knowledge about future trading especially on binance thanks.

 

[Wisdom01]

If you think there is another method, it's best if you explain it so we can understand more about trading. To make a quick profit on crypto trading are you a day trader or a scalping trader and which one is easier for you to make a profit. Whether you trade by Spot, P2P or Margin trading, which one do you think is more suitable for beginners.

I think I am more of a day trader and scalp trader ,I can't cover the feeling of predicting the market for long , because of the way fundmental analysis comes into place and spoil my trading set up ,what I first do is that ,I will trade with futures and quickly scalp my profit in a better position

 

[Ahmedo24]

I think I am more of a day trader and scalp trader ,I can't cover the feeling of predicting the market for long , because of the way fundmental analysis comes into place and spoil my trading set up ,what I first do is that ,I will trade with futures and quickly scalp my profit in a better position

If you have a reserve cash that is the best time you can be long time trader but as a daily trader you tend to make your money as fast as possible and you should try not to make your targets to be too high at least when you invest $50 if it can generate $2 for you daily then that is fine.

 

[Wisdom01]

If you have a reserve cash that is the best time you can be long time trader but as a daily trader you tend to make your money as fast as possible and you should try not to make your targets to be too high at least when you invest $50 if it can generate $2 for you daily then that is fine.

Yeah that's the truth , as a day trader I actually earn less ,but I am satisfied ,I don't want be too greedy and earn more money for my self taking trades that are not worth ,and loosing a lot of money in that process of trying to earn more money

 

[Yugocean]

The Spot trading is the method I usually do to trade, the same old (buying at a lower price target and selling a higher price target).

But if I want to got rid of a crypto quickly and replace it with another ond, then I usually use swap or convert feature.

 

[btaliat]

@Suba, thanks for this. May I however request youf attention to come for the explanation of some key words. For instance, who are the swing reader, scalpers as you used in your post. I am a new trader and I am not used to all these terminologies they use on these trading.

 

[bizzar4]

thanks for advice for newbie

 

[sincerem]

A very promising step forward if you are currently doing futures trading, I'm sure, you can benefit in both directions either on the Long or on the Short. I hope you can determine the Leverages margin wisely to get the maximum profit. and also have to be careful not to take the wrong position because your losses will multiply, and maybe your balance will be zero. Good luck bro,

Nice advise @Suba, I've always taken your advise very serious, because it has helped me alot when it comes to making a decision towards crypto trading and other sources investment. I am simply starting, never really made a good stride but no losses at the moment. I am still learning how to analyse the market through different route, when I am satisfied I'll now go into Futures full-time.

 

[Suba]

I guess you are well informed about future trading and margin trading, that is an area and still trying to get used to though I was told it is a very risky form of trading and can be very profiting if one is lucky can you shed more light on your knowledge about future trading especially on binance thanks.

Sorry, I'm no longer active on Binance, so I don't know much about trading there, maybe you can learn from the Binance blog guide, or other sites.