I know that virtually every person who has heard of crypto thinks there is a lot of “easy money” to be made here. In a way, it is true, as major projects literally throw money at you, but there is a catch .The vast majority of people who come to cryptocurrency looking for a freebie end up leaving with nothing at best or a bunch of debts at worst.
That’s because the thirst for easy money forces people to make extremely thoughtless actions, for which there is a bitter price to pay later. Of course, you can make money here, but not as easily as stated in the headline.So let’s discuss how to actually make some money in crypto. I will talk about the risks and whether a beginner can really earn anything here.This list is structured in such a way that I have placed the most “harmful” activities for beginners at the beginning, but each subsequent point becomes more valuable and offers real opportunities to earn.
Trading
The biggest misconception in the minds of beginner crypto investors is regarding margin trading. It all looks very simple: you wait for a dip, enter a trade with 100x leverage, and in a few hours you have +$1000.Moreover, you don’t even need a lot of money in your balance. Let’s take the same $10 and apply 100x leverage to it, and you get 10 x 100 = $1000. That is your trade opens not with the initial $10, but with a whole $1000.Suppose you perfectly guessed the bottom of the market, entering at $56,600 with your $10 and 100x leverage. Let’s say you close at $59,000 because you thought BTC would continue its drop.In this scenario, you would earn just over $43. Sounds great, right? Quadrupled your investment in a few days!
But if you can’t predict the future, the chances of repeating that success will be very slim, and most likely on the next trade you will lose not only your initial $10 but the $43 you earned as well.Even if by chance Bitcoin continues its rise and you have the patience to hold your position until BTC reaches $80,000, then yes, your profit would be a solid $421. But once again, greed will likely prevail at some point.Also, pay attention to your liquidation price, which is less than $300 below your entry point. For Bitcoin, a $300 fluctuation is not considered much, and the risk of getting liquidated is extremely high.
earning money through futures trading is entirely possible, but you will either have to invest in a good education or lose money while honing your own trading strategy, and it won’t be just $10.
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