Does Bitcoin Trading Really Work?

Photo by Executium on Unsplash

Bitcoin trading works for you if you know what you are doing. I know some people who became millionaires within 5 years of trading Bitcoin and other cryptocurrencies and other people who lost all their money.

Many people are too lazy to learn how to trade, through reading books, watching trading videos, and taking genuine trading courses. Thus, they lose money by giving it to scammers who falsely promise them a certain percentage per day, per week, or per month which is ridiculously too good to be true.

PLEASE, CLICK HERE TO START BUYING, INVESTING IN, OR TRADING BITCOIN AND OTHER CRYPTOCURRENCIES ON BINANCE, ONE OF THE BIGGEST CRYPTOCURRENCY EXCHANGES IN THE WHOLE WORLD!

Before you start buying and selling cryptocurrencies, you should date and understand yourself first. You should answer the following questions without lying to yourself:

(1) Are you going to buy Bitcoin and other cryptocurrencies and sell them on the same day? (Day Trading).

(2) Will you buy the cryptocurrencies and sell them after a week, a month, or three months? (Swing Trading).

(3) Are you going to buy and hold for some years. (Holding, or Hodling).

(4) Are you going to be using margin trading (trading on leverage)?

In addition to answering these questions, you should also read some books about trading (stock trading, forex trading, Bitcoin trading, cryptocurrency trading, futures trading, etc). You should also read books on investing. This will help you understand how trading works. Furthermore, studying trading and investment will equip you with the required knowledge about fundamental and technical analysis.

Please, never ever dive into cryptocurrency trading and investment just because your neighbor's son recently turned $1,000 into $100,000 within three months. You should know and understand what you are buying.

Who are the people behind it? Does it provide any value? What problems does it solve? How does it work? Will people and businesses buy it in the near future? Is it different from what already exists?

If you don’t understand it, don’t buy it until you understand it. Never ever forget to only invest or trade with only that amount of money you can afford to lose. In trading, there are no guaranteed profits, and if anyone or any platform promises you guaranteed profits, please run away because it’s most likely a scam.

PLEASE, CLICK HERE TO START BUYING, INVESTING IN, OR TRADING BITCOIN AND OTHER CRYPTOCURRENCIES ON BINANCE, ONE OF THE BIGGEST CRYPTOCURRENCY EXCHANGES IN THE WHOLE WORLD!

Disclaimer:

(1) All content found in my articles, including text, images, audio, or other formats were created for informational purposes only. The content is not intended to be a substitute for professional financial advice. Always seek the advice of a qualified financial adviser. Never disregard professional financial advice or delay in seeking it because of something you have read in my publications. My publications do not recommend or endorse any specific stocks, cryptocurrencies, loans, mortgages, credit cards, lenders, or opinions. Reliance on any information in my publications is solely at your own risk.

(2) Some of the links on my blog are affiliate links, and at no additional cost to you, I will earn a small commission if you decide to make a purchase. Please understand that I have experience with all of the companies, and I recommend them because they are extremely helpful. By using my affiliate links, you are helping me keep this blog up and running.

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Writer of "Work Smart and Become Rich" available on https://amzn.to/3uIO6gb

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Takarudana Mapendembe

Takarudana Mapendembe

Writer of "Work Smart and Become Rich" available on https://amzn.to/3uIO6gb

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