Hi, I am a crypto-hamster and bought bitcoin when it cost 17,000 and decided to trade on the Bitfinex exchange withe margin.
In this business I was not experienced, so I followed the advice of different traders and their signals.
In the end I lost 10 thousand dollars when bitcoin fell to 6k , but it was money that I was ready to lose, i.e. free.
Now I do not have the desire to trade, but I want to earn money on crypto currency, because it's interesting and I believe that the future is for the crypto currency.
Now I want to try to make money on bounty programs.
And I want to ask you advice in this difficult matter. Where to start, and is it profitable at all?
Although you lost 10K in trading but best part is that was the amount you could afford to lose, you must have gained a good experience out that but a bit expensive, I have gone thr such situation as well, trading is first of all not for everyone, if you are not able to control your fear and greed than trading is not for you, second part is you must have some base to take any trade, means a strong reason behind taking a trade, third you should have a clear target and SL in trading, there is no place for emotions, Suppose you bought BTC at $17K with a hope that it will go to $20k but it comes back to $14K which is your last risk then you should cut down your position there, sometimes what happens as soon as you cut your position it start rising and that is the point where emotions play role, next time you do not cut the position and it will slide to $6K, so everything should be pre planned in trading.
Rest it is the best time to hold crypto currency, you can go for some good coin and hold it for next 1-2 years, it may give you good profit. Regarding bounties, so many projects are running you can join any of them but before joining read about the company, project concept, percentage of rewards etc, that will be plus point.