How Much Can You Make Trading Cryptocurrency? – Facts And Figures
When you work, you expect to get paid. Likewise, when you’re making business, you will expect to get a profit. That’s because it has been our way of living. But aside from working in the office or other establishments, many of us found their future in trading cryptocurrency. Since it is new to your ears, we bet you are curious how much can you make trading cryptocurrency. If you will read this article till the end, you will not just learn how much can you earn from this but also the things that you need to consider.
Tracking Your Portfolio for Better Trading
It’s nice to know how much can you make trading cryptocurrency before you get yourself involved in it. Actually, that’s a good move because that means you have a vision in mind. This is also a good sign because if you are in the reality of trading cryptocurrencies, you can never be impulsive in investing. You have to base your decisions on the study that you made as well as your observations. But aside from this, you should also learn how to track your portfolio. There are many ways to make it. But why would you bother yourself making one when you can have it easily and quickly? And here’s how below.
- CoinStats – from its name you know you get the most out of it because with one click you can see the different prices of different currencies, see the status of your investments, the market data that you need, as well as your portfolio to be synchronized with different wallets and exchanges. It is easier to use even for beginners because it offers a user-friendly interface. So technically, it is your map to success in cryptocurrency because of its features.
- CoinTracking -– this isn’t like the ones that you have used before. You can enjoy and access the CoinTracking portfolio manager using a website, iOS App, and an android app. What you just need to do is to register on their website, fill out all the information needed, and be honest with answering them. But you should also keep your privacy by not sharing your password with anyone.
- Crypto Pro – this tracker allows you to monitor your portfolio either manually o automatically. What makes this dependable is it shows you your asset distributions, gains, losses, prices of the cryptocurrencies, and back up the data with iCloud with Sync. With its advanced features, candlestick charts associated with indicators, it will be your best crypto buddy. Aside from that, this application is also with your different devices and apple watch.
- Gem – Just like CoinTracker, you can enjoy this if you will find it in the iOS App, a website, or an android app. What makes this special is its ability to organize your portfolio well and make it look presentable. There comes a point in our life where we forget things like our phones or device and sometimes get broken. But if either of these two happen, you don’t have to worry because you can just log in to access your account.
- CryptoCompare – similar to Gem and CoinTracking this portfolio manager has an iOS App, a website, and an android app that you can try. It has a special ability to compare different cryptocurrencies and provide information about their mining. You will find it useful and dependable because the information that you need in tracking is provided. So there is no reason for you to be left behind.
A Look Into How Much You Can Make Trading Cryptocurrency
On a Weekly Basis
If you are curious how much can you make trading cryptocurrency, the answer depends on how much do you put in. But most of the time, if you want to have a higher profit you have to wait patiently for the demand to rise. But if you want to receive your profit weekly, you can do the hold and release strategy. Buy coins when they are lower price and sell them on the next exchange. Doing this will help you earn $50 to $100. If the demand is low and yet you sold your coins, then that would be your loss too. But again, it depends on the platform or application you have invested your money. You can do more than $100 to $100,000 if you place your investment in valuable cryptocurrencies.
On a Yearly Basis
Be it on day trading, lending, investing, or hold strategy, you can make more than $10,000 if you are willing to risk your money. Actually, some earn more than $100,000 yearly because they base their trading on data that they have gathered. Cryptocurrency trading is all about risk. If you put a small amount, you can expect a lower income and vice versa. But if you are interested in harvesting your profit yearly, make sure you are not making decisions with your emotions. When you see a possible loss, your mind may trigger you to panic and sell your assets. That is not what you are supposed to do. Click here to learn more about trading cryptocurrency!
Living in this world is tough. You need to work to live and to provide for all your needs. There are different jobs and businesses to try. But the blooming in this industry involves the use of cryptocurrency. That is why many have chosen to find their luck in trading with it and mastering the flow of the trade. And now that we have shared with you how much can you make trading cryptocurrency, you can decide whether you also want to try it or to find your calling in a different path.
UPDATED April 2, 2021
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