I've been trading (?) cryptocurrencies for a little over 5 years and have always had little to no success even doubling my money. I know I know, it's not supposed to be easy to double your money.
I work in finance so I understand that a 20% annualized gain is already a ridiculous amount.
I have however seen players doubling, tripling, 10xing their money through a variety of ways of which I can list here:
-Bitmex, Deribit etc. Perpetual Futures leveraged trading (1-100 x leverage - SUPER HIGH RISK)
-ICO/IEO trading (4-5 returns, MEDIUM RISK)
-Spot Trading (BTC/USD, MEDIUM RISK)
-Deribit Options (MEDIUM RISK)
-Cross Exchange Arbs/DEX Arbing (Buying alts on Dex before exchange launching on Binance - requires insider information)
-Gambling Games (Dice, etc.)
Does anyone else have any ideas to share or methods that consistently gives them good gains?
You need to understand that a lot of the so-called crypto traders on twitter and in the general community fake their gains so they can get more followers and attention. Less than 1% of the traders are profitable, you need to understand this.
And to be able to make a decent amount of money arbitraging you need cutting-edge bots and a lot of funds to make it worthwhile. Gambling is definitely not a consistent method to make money unless you are the house of course.