Is it a must to trade bitcoin to earn profit? - Crypto World - CryptoTalk.Org Jump to content
Calvinpriva

Is it a must to trade bitcoin to earn profit?

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I always say that trading is of two types, short and long. Trading in famous currencies such as Bitcoin is short trading and needs very large amounts, but trading in new currencies may be more profitable, although it requires waiting for a long time to benefit from these currencies.

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Most people actually trust those popular coins because its popular and the attention that it managed to get seems pretty high. I can't blame them since I also do that kind of thing whether I only own a few coins of those popular ones. I think the reason why they are only trading to the famous cryptocurrency is because they are anxious if they should trust to invest to other coins and maybe they are also afraid to lose if somewhat the cryptocurrency that they have invested did not work that well like those coins that dropped their values to zero and is not being recognized by the trade exchange platforms to use for trade.

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There are a lot of platforms that you can try to earn some income just like this forum it gives you a decent amount of income just make sure that you have quality post. While trading is the most profitable one, but it is not that simple because it is somehow risky especially if you don't have any idea about it. So better to make a research first and talk to the professional trader for advise. I think trader always choose the popular one because it gives them huge profit because of its price. 

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I also use these coins when I am low on money. These coins are good deal for all type of trader either they are beginner or expert. These coins are available at all forums and you can easily transfer them to many wallets. Their price most of the time doesn't drop. But increases drastically when btc moves upwards. So as a trader and save investment advice I given to many people to invest in xrp, ltc and wave coin. 

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1 hour ago, Calvinpriva said:

Don’t worry, this coins are volatile and their price depends on bitcoin. Most of the time they’ll increase or decrease same time with bitcoin. Please, add more details by commenting about other cheap coins that you know are profitable. I will be happy to hear about ETH, LINK, EOS, ETC, TRX and other.  

I like diversification in trading, but I choose currencies cautiously, in fact you mentioned the best currencies to trade because by trading these currencies against bitcoin, you increase the amount of bitcoin that you own and there are many strong currencies that can be traded and make a good profit from them.

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These are important currencies and there are many others also that we can benefit from trading through them, I have traded the currency of WAVES and made good profits from it in the recent period.

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There are many kinds trading currencies but I have not any kind of idea about it. Because I am a newbie. But in this forum spending a short time , I learn that Bitcoin is most easily platform for earning. And it takes not enough time to provide money.

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1 hour ago, Cryptic said:

There are a lot of platforms that you can try to earn some income just like this forum it gives you a decent amount of income just make sure that you have quality post. While trading is the most profitable one, but it is not that simple because it is somehow risky especially if you don't have any idea about it. So better to make a research first and talk to the professional trader for advise. I think trader always choose the popular one because it gives them huge profit because of its price. 

But this thread is all about trading that there are other cryptocurrencies you can gain from aside bitcoin. Take time to read it so that you can understand it very well. 

Also know that trading may not be profitable as it may seem. This is what people do not know about trading especially when they hear of day trading, thinking it is day profit. 

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There are lots of cryptocurrencies you can trade with not necessary bitcoin, there is also long term and short term trading, the difference is in period, some coins need a lot of time to grow and be stable at the market, do your searches and avoid unknown coins with zero volume.

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"We grow by lifting others"

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I think @Calvinpriva You have stated a very good post that will help me and so many other new begginers am always looking for that one coin that I will profit on and it and hope that some day I earn something good from it but this one will help me a lot. @Omar OmmeishI get your point and its noted.

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I don't think that it is a must for anyone to trade bitcoin in order to profit, or any crypto for that matter. I understand you point of the topic to diversify the coins that someone is interested in, but i think that in order to generate profit you can also invest your coins and watch them grow. In this way you receive interest and there is little to no risk in doing so. 

 

Having said that, coming to the trading, i definitely agree with you on your coins that you have chosen to trade in addition to bitcoin, and in my opinion i think that two other coins that may prove to be great with trading is dogecoin and ethereum. Dogecoin has a low value so if you trade them, slight changes can equate to quite a bit of profit if done right.

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@magd You are right friend, trading large coins like bitcoin it need a lot of money to earn a good profit. There are many cheap coins which we can trade them and earn good profit with just small amount. A good example is XRP which can give you a profit of 50% easily when you'll buy it at the right time. Yap, sometimes it may take time to earn profit with them so we need to patient.

 

@Mike1515 There are many good coins which anyone can afford, trade and earn profit. You just need to be active so that you can not miss the buying profit. WAVES it's in a good position and soon we will start to buy so remember that. Robotrade for yobit can help on this, you just select a pair that you want and you set the buying price and amount that you need then everything will be done automatically.

 

@BrolySSJ Thank you for pointing this, investing is also a good and safe method to earn profit with you coins. You just need to make a research so that you can find the better place to invest. Binance, Block Fi and Yobit are among the best sites where we can invest and earn good interests. DOGE and ETH are also good coins, with ETH you can double your trading amount but i never tried DOGE.

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Time is the ultimate weapon!

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 Bitcoin always best option for trading because within short period we earn good profit but we need good capital, yes in crypto there are several low prices coins also good for trading and we don't need high capital, like you mention litecoin waves and ripple and you're trading strategy really good, iam also invest in litecoin and hold for long time to earn profit, couple of times I received profit through litecoin, thanks to share this trading strategy my friend.

Edited by Honny143
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6 hours ago, Calvinpriva said:

Let me tell you one thing, bitcoin trading is good if you have large amount to trade but with small amount you will earn very small profit! And bitcoin is not the only coin that can give you profit in trading.

 

That a point which i tell to my friends. If they want to invest more than 1000$ then bitcoin is best but if they want to invest less then altcoins are best for investment. 

I have another erc20 REL coin. It price fluctuate between 1.2$ to 4$.Now it's price is 1.2$ at its low level. If we purchase it for 500$ and sell it for 2.4 then we will get 100% profit 1000$. And this trade can be complete in just 15 to 20 days. 

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6 hours ago, Calvinpriva said:

If it’s okay, our brother @Whited35 can give us more coins.

@Calvinpriva Unfortunately, I do not consider XRP and LTC due to some reasons 😁. WAVE is okay, I have a little bit investments in it.Recently, BNB, ADA, ETH and other major ERC-20 tokens mentioned in this topic were the best crypto coin to give me benefits from their short term holdings and active tradings. As you have mentioned in your topic, sure we should not just rely on BTC if we wish to make more profits from the trades. Sometime I take a risk by investing in pump and dump tokens and have been managing to make more profits but it needs patience, you should wait at least 1 month to expect another pump.

I do not know how many guys have read my following tutorial topic about the good trading platform Uniswap(For swapping so many tokens) but those who learnt from that topic and have performed the trades, they have now free UNI. I have claimed 800 UNI tokens today from Uniswap.

 

P.S. Dear guys, do not consider my post as your investment advise 🙏

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Thanks for enlightening us with this great strategy on how to profit from investing in the mentioned coins I really didn't have any thought of that kind because I was to much centered on bitcoin only but after seeing your post I have began to look forward on trying the strategy you just shared with us and I think I also need some patience with this because one does not make profits overnight using this formula.

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7 hours ago, Calvinpriva said:
  • 1.XRP (Ripple) - This among the cheapest coins that I know and it’s one of my best coins. 

 

  • LTC (Litcoin) - This is another coin that I trade and recommend. LTC it’s not cheaper like XRP and it’s not high like bitcoin, so you can still afford it.

Just a heads up, you've got this one wrong. I have talked about this before, LTC is way cheaper then XRP. Value comparison isn't done counting value of "full" coin but by a marketcap, because one full coin doesn't include the circulating or max supply into calculation.

 

But no worries, this is a common misconception.

 

Edited by rekter
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47 minutes ago, Whited35 said:

I do not know how many guys have read my following tutorial topic about the good trading platform Uniswap(For swapping so many tokens) but those who learnt from that topic and have performed the trades, they have now free UNI. I have claimed 800 UNI tokens today from Uniswap.

@Whited35 Thank you for your explanations about LTC, XRP and all other coins that you mentioned. About Uniswap, i can just say you are very lucky because if their tokens will have that promised price you will have a real good amount! Unfortunately, i never tried Uniswap 😂

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Time is the ultimate weapon!

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18 minutes ago, rekter said:

Just a heads up, you've got this one wrong. I have talked about this before, LTC is way cheaper then XRP. Value comparison isn't done counting value of "full" coin but by a marketcap, because one full coin doesn't include the circulating or max supply into calculation.

 

@rekter Thank you for your explanations. I understand what you mean and i know when we compare XRP & LTC by marketcap and trading volume XRP is the highest coin! But i didn't say "cheaper coin" by meaning their marketcap, but i mean the coin price, XRP is $0.26 and LTC is $50 that's why i said XRP is cheaper among those three coins "prices" that i mentioned.

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Time is the ultimate weapon!

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11 minutes ago, Calvinpriva said:

@Whited35 Thank you for your explanations about LTC, XRP and all other coins that you mentioned. About Uniswap, i can just say you are very lucky because if their tokens will have that promised price you will have a real good amount! Unfortunately, i never tried Uniswap 😂

@Calvinpriva Don't worry my brother. The best opportunity is also on the way for you 😊. Behind this luckiest year in the crypto world, I had so many painful years  with mixed experiences of multiple losses, painful results due to investment mistakes, wrong strategies etc. So before choosing any coins to invest, we really have to invest a long time to monitor their performances. 

You may not believe but every coin except LTC from my investment portfolio are giving me good benefits. LTC/BTC price strength is not looking so good after mid-March crypto market crash. 

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We all believed that bitcoin is the most expensive Cryptocurrency in the marketplace which give more profit ahead of other altcoins but we also have to note that there are other coins which can give us good profit as well because they also have potential in the market so we need to consider them the way we use bitcoin to earn profit when investing. Coins like litecoin, xrp and others listed in this topic are good for trading but we need some strategies to make it work for us.

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Not must but too important to trade Bitcoin depending on one experiences, expectations and capabilities . As a multiple-choice trader, who trade top 10, values altcoins, must along line accumulate the first-class, most profitable, valuable coin. Which is BITCOIN. No matter what one stand a great chance to make a good profit.

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You can trade any altcoin you like but when bitcoin starts altcoins will be left behind as it happens usually and once again altcoins have increased a lot without any actual reason. I don't trade at all as with trading I can hardly accomplish anything as I plan only to hold bitcoin and when I traded I only reduced the bitcoin I owned.

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