Post
Topic
Board Trading Discussion
Re: Is it worth for me in my situation to start btc trading?
by
princerepon
on 14/10/2019, 22:04:22 UTC
Hello

I have spare $300 that my friend suggested to use to start cryptotrading, as this is the maximum amount of money affordable to lose. I have a month of free time to trade with btc. Currently I don't have income and I have three ways to set it: cryptotrading, freelancing as programmer, or full-time job. I chose to expirement and try luck with trading and freelancing, if there is no success with any for september, I will choose full-time job. If I can make about $500 per month with all of these methods or some of them, I can forget about job for a while, which is highly preferrable.

First of all if you think taht trading is a luck then you are wrong. And i really don't think one month is enough time to understand what is trade. And my friend this is crypto trading we are talking about, this is the most sensitive market place ever. If you really want to be trader then take time and give your best effort for it.

Can I learn and do trading for month to make at least some money(around $100-$250), while doing freelance programming? I can arrange 3-5 hours for each activity per day.

Of course you can. But like i said before it's too difficult to do that in short time.

Should I start trading on OTC exchange or regular exchange? I tried bisq to sell btc, but it seems like there you can do it with rather huge amounts of money I can't afford to make offer with. This is because of security deposit of 50% of trade amount. Maximum offer amount I can make is 150$ whereas there are more offers which range $100-$1000. They also seem more profitable for btc buyers due to less interest, than that I chose. After scrolling thorugh bitcointalk, my only options left for OTC are localbitcoins and paxful. And I don't really like any of these because of shitty customer support on both. Moreover LBC nowadays has attitude to KYC everyone, I don't like it because I would keep my personal information than send it to someone

I think choose a normal or genuine exchange is a good idea for a beginner. Because of you are not invest lot of money and searching for low fee exchange then i can recommended you VinDax and Binance.