Is it possible to make money quickly on cryptocurrency? It's profitable?

Started by Lissa, Jul 28, 2022, 07:31 AM

Previous topic - Next topic

LissaTopic starter

Not so long ago, there was a desire to engage in cryptocurrency, but there is no complete confidence that this is profitable. I am a beginner so I will be very grateful if you share your own experience.


There is no way, in the short term, the crypt will devour more on commissions. I buy the bits myself, but I keep a wallet on a flash drive, which is called for a rainy day. And not for earnings.


You must understand that cryptocurrency is not very stable. Of course, you can make big profits, but you can also lose everything in one moment. If you are going to invest in cryptocurrency, then I advise you to study all projects in great detail separately, sometimes companies may not talk about their real profits, so be careful.


You can easily raise thousands of dollars in crypto, but you can just as easily lose the same amount. This must be approached with understanding. First learn, then invest to the fullest your capital


the first purchase, and then, as a rule, beginners fall into a stupor.
But if you have completed the previous steps: you have decided on an asset, you understand what is happening to it on the market now, then everything will be more or less simple for you.
Top up your wallet. If you are a client of a centralized crypto exchange, then it automatically starts your wallet when you top up your balance. Then choose a more convenient method of replenishment.
On the platform where I carry out my operations, this can be done either in the "Exchange" mode, or through a trading terminal (this is what the "Trading" section is called on exchanges).

If you decide to buy through an exchange on CEX, know that first you will need to deposit fiat money into your account. And for this you need to pass KYC (verification of documents).
So, it is optimal to immediately verify the account. Considering how centralized crypto exchanges are protected now, and what methods they implement to protect user accounts, it is better to do this. what not to do — so you will have more opportunities (banal, to use fiat money on the stock exchange).

If you decide to buy through the trading mode, find the one that suits you in the list of trading pairs.
For instance, you want to buy bitcoin for dollars. Look at the "fiat" section in the "Market" list, and look for whether bitcoin is sold paired with this currency. Click on it, and the whole page will adjust: this pair will appear in the chart, in the trading history and the stock glass, too. And already here you can place an order — that is, your application for the purchase and sale of cryptocurrencies.