Is it possible to live only on cryptocurrencies?

[Ahtisham Tahir]

Hello everyone, I have a question for you. Maybe there are those people, or acquaintances of you, who live, so to speak, only on the income from the crypto? Is it possible to refuse to work for your uncle, trade, and live for your own pleasure?

 

[Ahtisham Tahir]

It depends, if your work pays regularly and increasingly inflating, then you don't have to abandon that your job because cryto may may from anytime crash to uncalled rate

But if you learn Crypto Fundamental analysis, Technical Analysis, Sentimental Analysis, then you are capable to predict the movement of the market and you will be able to earn 10 times extra as compared to your job.

 

[Jesmen]

Yes you are right, because crypto trading is that type of field in which we can earn unlimited if we know how to predict for the coin next movement.

 

[Damy]

Well, in my own opinion, I feel it's almost impossible to live only on cryptocurrency trading. This is because man is a social being and would still benefit from relating with physical persons, and this physical interaction occurs most in physical work places.

 

[sincerem]

You can rely on cryptocurrency investment and make ends meet or earn a living as you understand it. But such wouldn't come easy especially when you're a novice in its trading. You simply have to learn how it works from the basics to the advanced. Everything doesn't work over night, it starts from small. I am still learning about crypto up to this moment. Also, influencing some coin owners project to get recognition. Crypto investment doesn't take over night to learnrsrn it all. You start from somewhere and earn it up. At times I do make $16 a day trading crypto, at times too it ends for loss for me. But the profit us by far greater than I am losing.

 

[Crmart]

According to me, for earning purposes, if you want to rely only on cryptocurrencies then give your more than 100% to it since the market is highly volatile and you need to keep yourself updated to the market trends in order to get profitable.

 

[Richee84]

Cryptocurrency market is one of the fastest growing market now in mostly all countries today. Rely solely on cryptocurrency for survival or as means of living will not be advisable, though it is not impossible to achieve that bit even in life is not advisable to strictly depend on one source income. Having a stream source of income is never advisable as it come with higher risk than having multiple source of income. Cryptocurrency is highly volatile and the best way is not to totally depend on it as the only source of income. The money realise from cryptocurrency trading can be use to invest in other form of business that will also bring in good income. This will help in a term when the market of cryptocurrency fall or go down then one can fall back on the other investment he or she had on ground. It's very possible now to make a very good profit from cryptocurrency trading but the money been made should be reinvested in another business so that one can be at a safer side.

 

[Kingsley]

This is indeed an interesting topic I must confess, I find it very fascinating, somany are of the opinion that crypto currencies can make one a millionaire of not a billionaire over night, while this may sound true, it is also very risky because it can also make you a very poor man over night. Hence the key to trading crypto as a full time job is to be very good in it. If one is not a professional or a well trained crypto trader, such a person will only be gambling with his or her only means of providing bread for himself and his family.

Crypto currency market is highly unpredictable because the market is not been regulated by any single person but it is been controlled by external factors which can not be easily predictable. It is seriously influenced by the forces of demand and supply which can not be predictable.


The only way anyone can depend fully on trading crypto currencies and use it as a means of livelihood is only when one is very grounded in the market and has an excellent ability to predict the market and such a person would also have a very huge fund in the system in several coin.

 

[Sotherefore]

I have not seen someone that have been able to earn money consistently to a point of having cryptocurrency trading as the only source of income in my real life before but I have seen a lot of them on the internet and I believe it is quite possible for people to make money with cryptocurrency trading consistently to a point of generating money as the only source of income.

Making money consistently with cryptocurrency does not really mean that you will not lose your money when you are traing but what I am trying to say is that the possibility of losing your money is obviously lower compared to the possibility of earning and because of this you are likely to be on profit.

I have seen someone and I know a person that have been able to generate money from cryptocurrency to a point of using it to pay his school fees and arranging everything in his life but I don't know if he can be able to do this to take care of his wife and children in the future.

Some people might be able to do this but they are just so sceptical since they don't really understand how long cryptocurrency will be in the world.

 

[eldavis]

It is possible but not advisable, we all know the nature of crypto is not stable, you would have to be an investor and as well a trader on crypto but even at this anything could go wrong. The recent dip reduced the overall capital of some persons to notting. In cases like that It would be better if you had other sources of income you can rely on and as well earn form until the price goes up again. Though we do not pray for that but what if crypto currency stops moving as it now? The goal is to create multiple sources of income not relying on one alone.

 

[funmi]

It all depends on the daily budget of the person in question. Many stay on their trade for some hours and make little money for the day and they leave as soon as they make what they are set to gain. As times, it is greed that makes people not to make their daily cash.
There are many activities on cryptocurrency platform that can afford people to make money on daily basis, though, it may be small but if you put it together little by little or bit by bit, it will definitely make some sense.
Being contented with what ever you have is also important. So it is possible to live only on cryptocurrency only. It all depends on how you can manage what ever you have.

 

[btaliat]

It is possible to depend solely on crypto and still be making money considerably and I have even seen many people doing it. But before we decide to do this, there are some things to consider which include

We must make sure we are competent before trying to make crypto our only source of income. Crypto should not be done without adequate knowledge of it. If it must be done that way, then there should not be dependency on it.

We should also consider the capital as well. Someone that wants to make crypto is only source of income must start with a reasonable amount to make sure that there is much profit to make.

 

[Dasryny]

Someone is just living off the stock they buy, so why not?