Two ways in which people make profit out of Crypto trading , what is best for you...?

in Project HOPE3 years ago (edited)

I was a active trader until May 2021 and after that month i have hardly done trading of any Crypto currencies for the sake of earning profit , yes i have sold some whenever i needed money.

I have a lot of Crypto Currencies in my favourite list some of them are ofcourse btc , bch , tfuel , matic , blurt , hive , steem , etc.

Now i am back again as there are no more exams and also i have alot more time now and i have already started trading and bought some alt today.

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Now there are two ways in which we see our profit when it comes to Crypto Trading and those two are as follows :

  1. We make sure that our net amount after a successful trading is more in fiat currency.

  2. We make sure to multiply any coin we are trading after a two way trade.

That means that you can avoid the price of profit in fiat curreny and focus on multiplying the alt or any major coin you are trading irrespective of what the price of the currency is at that time.

Now if i talk about myself , i am more of the second type of person. I try avoiding the price and focus mainly on multiplying the currency i am trading.

If you will ask me what is better between the two i will ask you back about if you are wanting to trade as well as hold your currencies for long time or you want to exit the market every now and then.

If you are wanting to hold for long time then you can actually also avoid trading alot and can trade less likely compared to currencies you don't want to hold for long time.

Many of the people are dependent on trading cryptocurrency and for them the first option is more suitable and ofcourse there is no restriction of you opt both of the methods.

maybe you can hold 20% and trade 80% accordingly as per your need.

I hope this post was helpful to the readers , here i would like to end this post.

Thank YoU

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It is always depends on your own financial situation.