There are 3 options to profit in the cryptocurrency industry. according to my version like this:
- Trading: It is called a way to get more money by trading cryptos, either by transferring between them or by providing exchange services.
- Investment: There are many cryptocurrencies with a good future, but I only recommend Bitcoin and Ethereum.
- Gambling: sometimes beneficial and sometimes detrimental. I don't recommend it at all (risk high)
Don't invest yet until you're able to understand the whole concept of cryptocurrencies and how volatile this market is.
There is a process before you can do that, however, you can start by buying bitcoin with around the smallest amount that you can test to see how it feels like owning it but you won't feel the fluctuations since it's just a small amount.
I like this thread tbh. Sometimes I'm too much in the market that I forget we are pretty unique. Among my friends and family, I'm the only one who hold crypto for years, and it seems like people are getting into it every few years when there's hype but then once they lose their money they forget about it xD.
IMO the advantage of crypto it's also a disadvantage. To better understand the whole ecosystem you need to be technical, keep up with the latest news, and understand how to cash out when needed.
Since you need to be technical, many people just can't understand or don't have the patience to get into crypto. In many cases those people can be wealthy, so they have the money, but not the knowledge to actually do it.
It gives the people who do know what to do a small advantage when it comes to making a profit.