Post
Topic
Board Trading Discussion
Re: Newbies can't profit from crypto without knowing how to trade. Truth or Myth?
by
Nonstopspider
on 17/07/2023, 14:09:04 UTC
I overheard my coworkers discussing the idea that new investors in crypto cannot make profits without possessing trading skills.
You must have basic knowledge and skills for buying and selling which are helpful for your investment but don't use buying and selling for your trading. At least you must use Buying and Selling orders without mistakes.

Market Order vs. Limit Order: What's the Difference?

Investment is better and safer than trading and if you invest in a safest cryptocurrency, Bitcoin, you will have profit. If you invest in altcoins, I am not sure about how you end with them. Most of altcoins will bring losses to you, not profit because most of altcoins die with time.

I agree that investing is safer than trading, but it is profitable if you have a cold mind and you studied. I am more the one that invests in Spot, Trading requires also a lot of mental health.

On the other hand, you can find other ways to make profits with Pools or programs in Defi or Exchanges that generate passive incomes, it is slow but you can reinvest them and keep generating more and not have your assets idle.

Some platforms also have events that are not that guaranteed but it can be profitable with low investment (I qualified, for example, to Aptos and Arbitrum ones)