How do people make money from trading crypto currencies?

[Bookwormlux]

I have read some posts outside this forum of how some people said they made money trading crypto currencies, but what I do not understand is how they tend to go about it.
Have you made money from crypto currency trading? If yes, how is it done? I mean what does the trading process involve?
Thanks

 

[ahmedo24]

The trend is very simple , you need to register and get verified on popular Exchange platforms like Binance, kukoin, coinbase, Mxc, okex, Bitfinex,Bitrex etc then you invest your funds on coins you feel has potential or read reviews about different coins to know their potential, one you invest if it rise immediately you trade for another coin like BNB,you repeat this process.

 

[Josemendez]

The basic means people earn from trading cryptocurrency is through buying at low price and selling when the price rises.

 

[Anis Boukezzoula]

it's better to take some courses in this field from Youtube or Udemy courses because you will be able to learn some tricks and strategies and that's the important thing.

 

[Niftyyem]

For someone that is not so vast in knowledge about it, then the basics should be okay. Just buy when low and sell when there is an increase in price.

 

[Nurudeen]

The easiest way to earn through crypto is to but when the coin is low and sell when it's high

 

[Ehizzy1]

People make more money from trading crypto currency i have seen people make up to $1k i think all you need is the necessary strategy

 

[Peterlight]

Trading on crypto can be sometimes tricky and also needs time to time monitoring of the rate of the crypto you are trading with..

 

[Vladv26]

The basic principle of trading is buying cheap and then selling for a higher price in order to make a profit. The difference between a successful and unsuccessful trader is what coins they invest in, the period of time when they buy/sell their coins, how they manage their bankroll, how they choose which coins to invest in.

 

[Suba]

Of course you have to join a trusted crypto exchange, learn analytical techniques and fundamentals, learn crypto exchange features, do demo trading with virtual money, before you trade for real. Deposit money or crypto, if you are still hesitant to trade for real, do passive crypto trading, while learning some trading strategies, Good luck.

 

[Yugocean]

This is like forex (not exactly Forex). People buy when price is low and sell when price is high. Plus traders have their own value which is less then market price while buying and a bit higher while selling.

 

[gammarays]

This is like forex (not exactly Forex). People buy when price is low and sell when price is high. Plus traders have their own value which is less then market price while buying and a bit higher while selling.

It's exactly like forex with same tools and patterns just that it's simple and faster. You can just trade coins by basically exchanging it.
I prefer pairing any fast moving coin i.e. price changes fast either positive or negative against stable coins like usdt. Buy when it goes down and sell or keep when it rises.

 

[Yugocean]

It's exactly like forex with same tools and patterns just that it's simple and faster. You can just trade coins by basically exchanging it.
I prefer pairing any fast moving coin i.e. price changes fast either positive or negative against stable coins like usdt. Buy when it goes down and sell or keep when it rises.

In forex, there is no gas price, but in crypto, there is. Decentralized currency is easy to use and transfer on P2P method, yet it's fees is what keeps people waiting. I too never sent any crypto when fees is higher, most of the people alsways wait for fees to drop.

 

[Deysi16682]

Hello, although the cryptocurrency exchange is not created, it is very common, it can be done through the various applications that are available for this type of paperwork or exchange, I would not know how to tell you which is the most efficient, but it can be done.

I have read some posts outside this forum of how some people said they made money trading crypto currencies, but what I do not understand is how they tend to go about it.
Have you made money from crypto currency trading? If yes, how is it done? I mean what does the trading process involve?
Thanks

 

[Bookwormlux]

Hello, although the cryptocurrency exchange is not created, it is very common, it can be done through the various applications that are available for this type of paperwork or exchange, I would not know how to tell you which is the most efficient, but it can be done.

From my little experience, it would involve receiving the coin and then paying the seller in his local currency. Don't you think it's risky if you don't know the seller?

 

[gammarays]

In forex, there is no gas price, but in crypto, there is. Decentralized currency is easy to use and transfer on P2P method, yet it's fees is what keeps people waiting. I too never sent any crypto when fees is higher, most of the people alsways wait for fees to drop.

Forex has it's own fees too but it's a bit stable than crypto. Yes gas fees increase whenever traffic is congested on the crypto network. I was surprised I was charged just $0.21 in sending $8 BTC via coinbase around 11 am Nigerian time. I was shocked and happy to avoid the recent high BTC fees.

 

[Arwhank]

The basic means people earn from trading cryptocurrency is through buying at low price and selling when the price rises.

It is true that by doing this, we can certainly get a large profit, but if you want to get a large profit, it is possible that the capital prepared must also be a lot.

 

[Yugocean]

Forex has it's own fees too but it's a bit stable than crypto. Yes gas fees increase whenever traffic is congested on the crypto network. I was surprised I was charged just $0.21 in sending $8 BTC via coinbase around 11 am Nigerian time. I was shocked and happy to avoid the recent high BTC fees.

Always check the fees before sending (if there is an option to check fees) Even forex inform the fees too. I never used coinbase for this, but I used freebitco faucet, this faucet informs the fees to members and high fees is avoidable due to this. Also that faucet pays daily interest on compound basis, this is a way to earn BTC extra for profit, and good platform for trading too.

 

[gammarays]

Always check the fees before sending (if there is an option to check fees) Even forex inform the fees too. I never used coinbase for this, but I used freebitco faucet, this faucet informs the fees to members and high fees is avoidable due to this. Also that faucet pays daily interest on compound basis, this is a way to earn BTC extra for profit, and good platform for trading too.

That's nice for a faucet to include the save and earn program in their platform. One can easily deposit BTC and earn from the daily or monthly profit instead of just relying only on faucets.

 

[Yugocean]

That's nice for a faucet to include the save and earn program in their platform. One can easily deposit BTC and earn from the daily or monthly profit instead of just relying only on faucets.

Freebitco also have gambling section, but that is why people stopped using it, everyone loss more and earn less there. Yet this is also a way to make money if people do not greed and only do this for part earning.