I know someone who trades cryptocurrencies for a living, but he also has other business aside from this aspect. As far as I know, he earns large amounts of profits weekly but the amount of bitcoin he risks is otherworldly. In my opinion, here are some advantages and disadvantages of trading as your main source of income:

ADVANTAGES:

• You have the potential of earning large amounts of $$$ in a short-amount of time depending on the amount that you are willing to risks and the right circumstances;
• Trading cryptocurrencies have a broad spectrum of choices, as there are many altcoins in the market for utilisation; and
• The amount that you are willing to risk is directly proportional to your expected earnings.

DISADVANTAGES:

• The nature of your income involves risk. The system can also be called a 'high-risk, high-reward' option as both extremes may be applicable;
• Relying on trading as your sole income may yield inconsistent results as it varies depending on the price of bitcoin itself and luck;
• Once countries implement a law prejudicial to the existence of cryptocurrencies, expect your earnings to be affected; and
• You need to at least have a minimum amount of bitcoin to risk, unlike other methods does not need any investment.