Crypto trading

[Roober]

I'm getting ready to start really researching crypto trading. So I know it's not a waste of time for me, how much would I need to invest in order to see around 80 dollars a day in profits?

It really depends on your risk tolerance..

80/day X 365 = $29,200/year

LOW to ZERO risk
Crypto.com offers 12% on USD currently with a 3 month lock.
This equates to about 250k deposit

Low Risk
Aave offers 20% on tether stablecoin
175k deposit needed

Polygon network farming offers 50% on DAI stablecoin
60k deposit needed

Moderate-High Risk
PancakeSwap offers 99% on their native token, no lock period
Put in 30k, and you will get gains from APY and token price

Buy majors and hold...
Etherium
Solana
Ren
Chainlink
CVX

Tons of other options here for farming and just buy and hold good quality tokens...

 

[BackInTheGame78]

Many people are new to crypto. As adoption grows, volatility decreases. Whales still have the clout to swing most cryptocurrencies wildly. However, the most reliable cryptos are still up over time, regardless of the bear markets. Since bitcoin has been around, it has doubled (or more) every year even with such bear markets.

If you are trying to trade like a degen, it's not likely to work out well. If you practicing good profit taking strategies and mitigating your losses with solid R:R, I don't see how any market in FIAT, SP500, real estate, or anything else beats it. Are those still valid investments? Ofcourse. Is crypto a better investment? I believe it is.

For the record, I only have about 20% of my net worth in crypto with the rest in real estate and 401ks.

@Fruitbat
And about your Nano Ledger, move it to a Cefi, then get a new one. I am not really familiar with it, but that seems the best approach.

NOTE: XRP also falls in the "$hit coin" category. Narrative keeps it alive.

I would not buy any ledger products. They have battery issues, the company knows about them but does nothing to fix it.

I bought a Nano X, brand new out of the box the battery won't charge past 6%. Their customer service is a joke, took several days to get a response...they sent me a replacement and it has the same problems...

Sent them both back for a refund and buying a Trezor.

 

[BackInTheGame78]

Feel sorry for people who were waiting for 45K entries. You only get so many chances to load up.

 

[jaygreenb]

Feel sorry for people who were waiting for 45K entries. You only get so many chances to load up.

Picking up pennies in front of a steam roller. If completely new best to just get some in then set an auto buy, that way you capture any moves down but still have some for the upside. Most don't have the experience to be able to anticipate where it's headed and the psychology of it makes it hard to buy on a massive correction.

 

[CAPSLOCK BANDIT]

Will Bit Coin at some point become unable to be mined? Why?

 

[BackInTheGame78]

Will Bit Coin at some point become unable to be mined? Why?

There will only be 21 million ever created. Why? Because that's what the code allows for.

 

[CAPSLOCK BANDIT]

There will only be 21 million ever created. Why? Because that's what the code allows for.

Whats it at now or when will that be hit

 

[BackInTheGame78]

Whats it at now or when will that be hit

A little over 18 million...
Supposed to be done in 2140.

 

[DonJuanjr]

So then another currency could be wrote that has 1 billion mining capabilities?

 

[BackInTheGame78]

So then another currency could be wrote that has 1 billion mining capabilities?

I mean there are plenty of other crypto tokens that have varying numbers of coins already.

 

[wifehunter]

I mean there are plenty of other crypto tokens that have varying numbers of coins already.

Those are called 'poo coins'

 

[BackInTheGame78]

Those are called 'poo coins'

Not always. There certainly are plenty of those out there, but solid projects like SOL, DOT, LINK, LUNA, ATOM, etc are certainly not poocoins.

 

[wifehunter]

Not always. There certainly are plenty of those out there, but solid projects like SOL, DOT, LINK, LUNA, ATOM, etc are certainly not poocoins.

Unlimited supply = poo coin

 

[BackInTheGame78]

Unlimited supply = poo coin

None of those coins have unlimited supply. What are you talking about?

 

[SargeMaximus]

None of those coins have unlimited supply. What are you talking about?

Id argue that all crypto is an unlimited supply. Just type up some more code and viola

 

[BackInTheGame78]

Is argue that all crypto is an unlimited supply. Just type up some more code and viola

Sigh...as a software engineer it frustrates me to hear people say this type of ignorant stuff.

 

[wifehunter]

None of those coins have unlimited supply. What are you talking about?

uhhh nope........ok Mr. Smart E Pants.

Just because a poo coin claims a supply cap doesn't mean the pooheads can't change it later. Monetary policy is D!CKtated by the poo coin's creator.

Expect doo doo heads, and you will not be disappointed.

Satoshi Nakamoto is long gone, and Bitcoin is the only provably scarce coin, which is why it is king of crypto.

Full fukking stop.

Go read some books, kids.

 

[BackInTheGame78]

uhhh nope........ok Mr. Smart E Pants.

Just because a poo coin claims a supply cap doesn't mean the pooheads can't change it later. Monetary policy is D!CKtated by the poo coin's creator.

Expect doo doo heads, and you will not be disappointed.

Satoshi Nakamoto is long gone, and Bitcoin is the only provably scarce coin, which is why it is king of crypto.

Full fukking stop.

Go read some books, kids.

Ignorance is bliss apparently.

 

[wifehunter]

Ignorance is bliss apparently.

Yep....the masses are asses.

Buy Bitcoin.

 

[SargeMaximus]

Sigh...as a software engineer it frustrates me to hear people say this type of ignorant stuff.

You’ll never convince me that something digitally made is scarce in any way. I’ll stick to commodities. Things that can actually run out

Yep....the masses are asses.

Which is why they are flocking to bitcoin