Post
Topic
Board Trading Discussion
Re: The Importance of Income Diversification for Crypto Traders
by
Hyphen(-)
on 21/07/2024, 21:22:02 UTC
Since the retracement of Bitcoin, the market has become boring. Sometimes, the direction of Bitcoin is unclear. For example, the price action of Bitcoin is actually confusing. I have learned one thing in these recent days: As a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, mining,  and other legitimate sources of income. If I say that I will force trade now, it can end up in a loss.


What is your take on this?
If you are able to learn well and have knowledge about crypto trading, you defend on it because many people are depending on it to live as they have no alternative.
Although, it will be very good if you have physical business as backup, but it also involves risk which is a bit lesser than the crypto trading, but if you have the knowledge, make it your main source and you will earn from trading if you are not greedy.