Trading Discussion What can you say about crypto business

[Mandy96]

Cryptocurrency business has been one of the most popular investment all around the globe in the sense that most of the countries around the world are accepting it as a means of payment and currency, it has even gone to the extent that some nations are having there own crypto attached to their original fiat rate so as not to destroy the rate of their currency in the world market. USA has established their own that goes by the name; USDT, and I also know about Nigeria that just launched theirs also which they call it; eNaira. I also heard about China scrapping Bitcoin in order to have their own coin as well, a lot of people has become tremendously rich overnight because of the sporadic inflation in the rate of BTC. I know some people also encountered loss, I guess there is an other side in every business. I once intended to go into it maybe I could also make my millions from it, and I consulted an experienced trader, he asked if I have enough money to invest in it, and he even said this money shouldn’t be my whole savings because surprises can come up anytime. He says it’s just like gambling.

 

[Victorial]

He has a point. Crypto trading and investment is like gambling but it is not gambling. With gambling, your money either losses or profits are controlled by external factors and you might not have the right to pull out completely if you are into a bet. Unlike crypto, you can choose to do whatever you wanted to.

But you don't need a lot of money to invest in crypto. The thought that it requires a high amount of money is false and I don't believe it. If you know which coins to buy and hodl, you will be successful in the long run although it might take months or years

 

[Setho]

I do not see cryptocurrency as a business but instead as an opportunity to make money by trading them. It is not a way that you can make money overnight but you will definitely make profit if you should stay long in the game.