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What do you think is more profitable?Crypto trading or just have a regular job with minimum wage?
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Depends entirely on how much startup capital you have for trading crypto and how well you trade.

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I would have said crypto trading, but cryptocurrency is very volatile. If it were some other kind of investment, I probably would have encouraged you to go in.

Although, it is not great to just have a job and earn minimum wage, doesn't sound good because your income is fixed.

You can actually do both. Have a job with a minimum wage and still trade crypto currency by the side.

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Crypto trading would be a zero-sum game if it weren't for exchange fees and taxes which make it a negative-sum game. What's even worse is how many governments do not even allow for losses to be subtracted from wins for tax purposes within one tax year. What that means is that while in your year of trading could've been a losing year, you could still end up owing a massive sum in taxes. For example, the IRS of the USA or the Finnish Tax Authority do not allow for wins and losses to be summed up for tax purposes. No, each and every trade is taxed separately. An active day trader could end up having thousands of small trades per year.

Crypto-trading is a HORRIBLY STUPID idea you as an amateur should TOTALLY AVOID because you can RUIN YOUR LIFE by racking up an exorbitant tax bill simply by having a high volume of small trades even if your net gains are very small - unless of course you are planning to dodge taxes altogether and are sure that you will never be caught. You shouldn't be because centralized exchanges with Anti Money Laundering and Know Your Customer practices in place can easily be forced to divulge information on their customers to various national tax authorities who can share information with one another. Also, public blockchains are perfectly traceable permanent records and one small leak can lead to massive exposure easily analyzed by the authorities. 

And even if the tax rules were reasonable, it is still very likely that you will end up losing your money if you trade actively. For stupid amateurs like us, it is always optimal to just HODL with an iron grip if you believe cryptocurrencies have a future. If not, you should get or stay out.

So, my advice to you is simple: DO NOT EVEN THINK ABOUT TRADING IF YOUR GOAL IS TO MAKE SERIOUS MONEY LET ALONE SUPPORT YOURSELF. You're much better off having a real job.

Even in a bull market, trading will most likely only cost you money compared to just HODLing. In any type of speculative trading, a very small minority of hard core professionals who really know what they're doing can consistently make any money. Almost everyone would be better off just HODLing. Even technical analysis is pretty useless in crypto because the space is news and rumor driven. 

There is much more randomness in crypto than in any mature traditional high-volume market. In mature, traditional and regulated markets there are traders who make money by understanding the market and mastering technical analysis. In case of that kind of markets, technical and fundamental analysis can work. Cryptocurrency markets are totally unregulated which means that the degree to which they are manipulated is something different from regulated markets. Utilizing insider information, wash trading, pump and dump schemes and so on and so forth commonly take place. In regulated markets, the perpetrators usually end up in prison whereas in crypto, an unregulated wild west, anything goes.

Even in well-regulated markets, it takes an extraordinary personality and skill set to be make a living by trading. A successful trader is emotionally detached to a near psychopathic level and knows the market and analysis methods inside and out. Do yourself a favour and stay out of trading, unless your willing to trade small amounts purely for entertainment purposes.

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3 Comments

Earning money from crypto trading sounds easy. But there are many pros and cons, you have to consider before started trading. If you ask me, I would prefer to have a minimum waged job and side by side will do crypto trading. 

As you can see how unstable crypto market is, so I think it is not a very wise choice to totally depends on it for a living. It is true that cypto trading is much profitable in between the two. But you have to take lots of mental pressure, have to understand the market deeply, have to have a good knowledge on cypto trading or so on. So it may sounds easy but it is actually not in real life. 

Only depending on crypto trading without any backup financial support can be worse for a newbie. Rather you can choose to have a regular job and do crypto trading side by side.  If you can establish yourself in the crypto market and started to earn a good profit then you can consider to leave your regular job. But as I stated earlier you always have the chance to face loss for the bearish market stats. 

Now the decision is yours what you want to do with your time, money and knowledge.  

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1 Comment

If you intend to work as a minimum wage salary earner, it actually depends on the type of work you do provided you love it plus your salary or total income every month. You should be able to make necessary calculations by checking if your earned income will suffice your expenses or budget depending on how you plan yourself.

If you also intend to be a crypto trader, the most important thing to consider is the rise and fall of cryptos most especially Bitcoin. You should know how to trade cryptos before doing it and this is why you need to learn about it before delving into it. Crypto trading may be very profitable for you if you really know how it works and it may also be a great loss for you if you don't understand the process.

To answer your question, it actually depends on what you love to do. Just do what you love and go for what you want. I also suggest you can go for the two if you are capable of doing it. I know of some people who are working as a salary earner and they also engage in crypto trading so since it involves making money 😊.

Thanks for reading and I hope this helps.

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Invest what you can risk in crypto because it is something that you can do as an extra. There are ups and downs when it comes to the value, keep in mind to do research first because there are some crypto sites that are scam. Still it is better to keep your job based on my experience.

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Both are two cool means of making income but I will do say crypto trading is more profitable

Crypto's is the future and if one wants to go into crypto trading then such a one should have a good capital and the patience to be able to hodl a coin until there is a little increase in the market and sell out. And buy back when there is a deep

Crypto trading brings more profits but I won't say it's reliable compared to a regular job with minimum wage because the Crypto market is unstable and anything can happen at anytime

I will advise anyone to go for that two and now rely on one. You can still trade Cryoto's while earning minimum wage

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