If someone wants to make money through cryptocurrencies then what things he should do before?

[Ayeshabashir]

Hello dear friend hope you are absolutely right and getting new way about how we make money through cryptocurrencies so guys as we all know cryptocurrencies is a digital currency which is now spreading all around the world and many people are also become rich through this but dear we should also know that it is very risky if you can earn a lot of money through this then you can also lost of your all money just because of your lack of knowledge and information and also experience because the value of cryptocurrencies is not fix it goes up and down and nobody can predict the actual price of cryptocurrencies so if you are interested to make money through cryptocurrencies then for this we should keep in mind some steps that we should follow before choosing this profession first thing is that you should do their own research through Google and through various websites and social media and secondly during investment you should be investigate whether the website is legit or not and third thing is that you should research in which crypto you want to invest and read the graph and fourth invest that amount of money which you bear to lose

 

[Good-Guy]

I have tried my luck trading in cryptocurrencies and I must say that I was never successful. this is due top various reasons. I have seen that the cryptocurrencies market crashes in a really rapid manner and it takes a lot of time to recover. I remember bitcoin Cash being traded at a value of more than $500 and now it is struggling to reach $350. During the period of a few months, Bitcoin Cash and many other cryptocurrencies have fluctuated insanely and this happened due to various reasons such as Russia's plans to ban cryptocurrency mining, issues between Russia and Ukraine, Omicron variant, end of the year 2021, liquidation of cryptocurrency coins, etc.

All of these factors caused cryptocurrencies to crash in such a way that now it seems like cryptocurrencies will take a long time to recover. Moreover, the recovery of cryptocurrencies in itself is dependent on various factors. So when people claim that Bitcoin will reach $100,000 within a few years, I always take these statements with a grain of salt! This is why a person must never invest in cryptocurrencies until they have no problem with losing that money, as cryptocurrencies are pretty risky investment option.

 

[funmi]

Crypto currency market is indeed a very volatile market and o must confess it is a very difficult market to predict. It is not a market one should venture into with little or half baked knowledge because if you enter into the market with just the basic knowledge of what you must have read online or from one who is not even trading themselves, you will be heavily deceived and you will lose your hard earn funds. The first thing I will advise you to do is look for some very good expert with good track records of successful trade with huge success rate . then if you can also acquire trading robot it will do you a lot of good as the fluctuations in future trading will not make you to get liquidated by the market so easily. And if you know you can not stand all the high risk ends it is better to remain along term trader or trade only on spot where you will stay and make little profits and stay even when the market it against you as you not make loss. That is the only way you can make it and be on the safe side.

 

[sincerem]

I lost around $5 recently trying to capitalize on the lose crypto price differences on a particular exchange sure. Which means, I tried doing spatial arbitrage trading, where by I initiate the transaction within a particular exchange by rotating my funds into different volatile coins and at the end, returning it to USDT coin. But at the end, it didn't work as I wanted, because the limit order didn't work, it didn't execute automatic, that's what I'm trying to say. Which made profit highly impossible, since I had the option to follow only market order which isn't profitable, it dragged me to loss, I changed exchange, and still paid some gas fees too, experimenting such tricks at the other exchange, still nothing was earned. I still recorded some loss,so, when I calculated my loss, I lost around $5.09 within the interval of 2 hours. That's what we are trying to say about crypto, you must lose to gain, I tried such option hoping it will work out for me, but it didn't, in the future it might work out that way, or I can simply adopt a better strategy to execute my trades next time, since their is more options to trade.

 

[Suba]

There are many ways to make money through cryptocurrency, earn interest, staking, also trade crypto, to trade crypto it really depends on one's skill and experience, there are many types of crypto trading such as spot trading, margin trading, P2P, copy trading and futures trading. We must be able to assess our own abilities to get the maximum benefit, while continuing to learn and practice to improve our abilities.

 

[Sotherefore]

I lost around $5 recently trying to capitalize on the lose crypto price differences on a particular exchange sure. Which means, I tried doing spatial arbitrage trading, where by I initiate the transaction within a particular exchange by rotating my funds into different volatile coins and at the end, returning it to USDT coin. But at the end, it didn't work as I wanted, because the limit order didn't work, it didn't execute automatic, that's what I'm trying to say. Which made profit highly impossible, since I had the option to follow only market order which isn't profitable, it dragged me to loss, I changed exchange, and still paid some gas fees too, experimenting such tricks at the other exchange, still nothing was earned. I still recorded some loss,so, when I calculated my loss, I lost around $5.09 within the interval of 2 hours. That's what we are trying to say about crypto, you must lose to gain, I tried such option hoping it will work out for me, but it didn't, in the future it might work out that way, or I can simply adopt a better strategy to execute my trades next time, since their is more options to trade.

Sorry about what you were going through. is not easy, the crypto market is completely unpredictable and even me I don't even have in my interest to trade cryptocurrency for now but I will rather look for more ways to rather invest because I believe this is even the most suitable time for people to try to invest in their favourite cryptocurrency because the bullish season can start anytime and now is the most suitable since all cryptocurrency has dropped by almost 60% .

A lot of crypto expert are using this opportunity to long a certain cryptocurrency in future for long-term purposes and these people are those that are using high capital , the higher your capital the lower the price of liquidation . so even if the coin has to drop again by 30% there is still a high chance that they won't actually lose their money or be liquidated .

I don't really want to go near future until I learn to really understand how it work and how to trade profitably because future is just one of the quickest way you can go back to your village with nothing. Cryptocurrency is sweet but only to people with perfect understanding.