Day Trading Crypto Coins

While a good amount of cryptocurrencies are a good long-term investment option, others are a good short term investment, whether it be a day or a few days.

Day trading is one of the first things that'll come to mind when a person thinks of stocks, but it isn't necessarily something that comes to mind when someone thinks of cryptocurrencies.

Similarly to a penny stock, a coin less than $1 is very volatile and can drastically change in price, sometimes even doubling in profit in just a few small hours. So while you may just put $50 in, you may very well get $100 out of it.

Even the higher priced stocks can show significant 24hr increase and decreases.

While in some eyes it would no longer be seen as day trading if you held onto it for more than 24hrs, I would likely be the type to try and get rid of them all in 1 day, but hold on to whatever losses and wait til they become gains again.

From what I have read the best way to avoid fees during all of this is to keep your money on the market rather than sending between wallets. I myself would trust the market to safely store my money and coins as I left them to be traded (depending on the site of course), but I would also be likely to cash out partially sometimes to keep some of my money even safer.

Have any of you considered day trading cryptos, and what is your opinion on it?