Quote from: Baki202 on July 22, 2024, 09:48:55 PM

Quote from: Ndabagi01 on July 18, 2024, 10:51:14 PM

Do you mean as a crypto investor, they should have multiple source of income and not just rely on their investment in bitcoin? As a crypto trader, you can always trade the market base on the result of your analysis of the market. You don’t have to wait for the market to be on uptrend or downtrend before you can execute a trade. If you’re an experienced trader, you need to just analyse the market to enter a buy or a sell base on the direction of the market. Only a novice trader will be bothered of this because they won’t really understand the market and might enter a trade wrongly. Multiple source of income is for those that depends on trading for their income and can also do without them when the circumstance does not favour them at that time.

Been a crypto investor if you have different sources of income it is good because you won’t worry to much about the price of bitcoin and you won’t be emotional, one of the things that makes people very emotional when they see their funds coming down as a result of impact of the market. So when their is other sources of income no one will panic because of the market. Their is always difference between those that are holding and those that are trading their is much difference, and even those are trading depending on the type of trading they are doing. You will still lose money and you will make profit the same time. And the analysis that you have to do before you start trading is what discourages a lot of people from trading and the second thing is they don’t want to lose their money. If it is the money you worked for their is no way you won’t get worried about your money, but with time you will get use to it.

Doesnt matter whether you do get involved in crypto space or not, or simply being a trader or not on which you would really be wanting or needing to have that income diversification on which we do know that
when it comes to this aspect then it would really be always recommended that you should really be having that kind of other source of income to have a good financial condition or state.
It would really be that a common approach to have such aspect on where you would really be needing that multiple income source but the main challenge on here is on how you would really be able to do it?
On the moment that you would really be having such approach on which thinking about multiple income sources then you would be needing up that additional capital and of course that additional risks taking factor
on which on the time that you will really be dealing up with something new then risks management will really be the key or something that must have.

Who doesnt want on getting rich nor being that financially free? Of course we would really be that thriving as much as we can on achieving such state. So it will really be just that depending
on you on how you would gonna do it.