If you want to treat cryptocurrency trading as a side job, I have to share some of my practical experience with you, hoping it can help you a bit.
You have to understand that the speed of making money and losing money is not on the same level. For example, if you have 1 million and want to turn it into 2 million, that's not an easy task. But losing half of it can happen very quickly. So when trading cryptocurrencies, don't get carried away if you make a little money.
For instance, if you have 1 million and earn 100,000 on the first day, but then lose 90,000 the next day, it’s as if you haven't made anything! Therefore, you need to be patient and not be flustered by these minor fluctuations.
In the long run, can you make money trading cryptocurrencies? Don't think that if you've been making a lot of money for several years, it's a good thing. If one day you start losing, your money can disappear like running water. For example, if you have been trading with 1 million for several years, making and losing money, you might find that you have saved less in the bank with interest, or even lost money. So, when trading cryptocurrencies, you need to know when to stop and not be too greedy.
If you want to make money in the long term, we still need to be steady and pursue a reasonable annual return. For instance, around 25% annual return, so after 10 years, your money can grow several times. But this is not as simple as just saying it; it requires real skill and patience. You also need to calculate costs well. For example, if you first bought a bunch of coins at a high cost, but if you buy more later, you can lower the average cost. You have to be meticulous.
Once you make money, you need to withdraw quickly. For example, if you have 1 million and earn 100,000, sell a part, so the remaining money is safe. When the market crashes, you need to check how your coins are doing. If they haven't dropped much, it might be that big players are supporting them, and such coins can be held long-term; who knows when there might be a big increase.
Recently, I plan to ambush a potential coin that is ready to explode; it's quite simple to double, and I also plan to find some potential coins to hold until the end of the year, expecting a space of over 10 times is not a problem, but spots are limited! If you want to join, like + leave a message.
