How much money crypto reddit About 60 per day right now. Yes you can get more money, but I also use my computer that I mine with, and I don't have the money to replace the GPU. I'm not What’s the most profit you’ve made on a single crypto? Which coin was it and how much profit did you make? I bought Ethereum for $1100 in January 2021, I haven’t sold yet but I have a profit The entire cryptocurrency market — now worth more than $2 trillion — is based on the idea realized by Bitcoin: money that can be sent and received by anyone, anywhere in the world r/Binance. Don’t Reddit offers a wide range of subreddits dedicated to educating beginners on cryptocurrency, including how to get started with investing, how to set up a wallet, and how to stay safe and secure online. io, we're an Aussie-made crypto tax solution. They put in thousands of hours of research and DD to understand the ins and outs of this market. But now that I had some downtime, I am getting back into the crypto space. And when you do this on non kyc exchanges your government doesn't know how much crypto you own. com serves over 100 million customers today, with the world’s fastest growing crypto app, along with the Crypto. crypto. I wouldn't recommend this much to most people. Everthing else was worth around 50 to 150 usd. I'm a university student and working 5 days a week but as of the last few months I'm earning about as much from crypto as I am from my job per month. Folks that are making money will not tell you the platform or the pairing they use. Making $600 on a $1000 account requires WAY too much risk, your gambling at that level not trading. Sucks If that’s true especially considering the fact they’re already making insane $$ with fees. Posted by u/Purple-Net-6382 - No votes and 85 comments Eventually my portfolio's value was around 5% of the entire money I'd put into it, including loan money. Just less risk than buying other crypto alt coins. Im trying to take this as a learning experience and to change my mindset on things. Most people in crypto are assuming that in 10 years there will never again be such easy money in just providing liquidity to the landscape though. Married filing jointly Up to $80,000. What gets scary about this is that say the Crypto is not easy and as much as you don’t want to hear this, you have to make a lot of mistakes and lose money to learn. meaning one by one those miners will get shut down due to economics and things will gravitate towards equilibrium at $0. But it's much more productive for trading, and easier for day to day life, to keep my assets in the Binance spot wallet. 248 votes, 537 comments. The problem with these people is that this can take 10+ years, and a lot of them will wake up with nothing, because crypto, like every other market, before it will mature enough will most likely collapse for a while. That means 0 fees to buy BTC or other cryptos, including topping up the debit card. But if you hodl for 10+ years, 50x to 100x is possible, though maybe it'll be a mere 20x. 31 votes, 109 comments. That means you made $100. com If you are 50/50 win rate, and have a 1:3 risk-reward, there’s no reason you are limited to making $4-600 on your scalps. I also want to tell you guys, especially to the beginners that the crypto world is not safe. Nicolas Kokkalis and his wife, Dr. I think a big thing is what are you googling as well. I’m planning on putting 60% into stocks, 32% into crypto (mostly bitcoin and etherium), and 8% in cash (I’m in my mid 20’s btw). That's not even 1 BTC. https://celsius. 2K comments. In that case, you should be running your node NOW. Reddit's disclosure of its cryptocurrency holdings, and former It’s a speculative investment. Then when BTC is at 100k and all that cash you have on hand is worth nothing, buy whatever random crypto is popular that week and watch your money disappear in 6 months! At first I was pretty sure that I will make a lot of money, so everytime I participated to an airdrop I wrote it down on a paper, I wrote when it will get distributed and its value. Here are some basic guidelines: The math for day trading (crypto or otherwise) doesn't make sense unless you have at least several thousand dollars trade with. This is largely done through privacy coins, crypto mixers like TornadoCash, transferring small amounts across a complex web of wallets, and off-ramping via less-than-reputable exchanges. This shit isn an eternal public ledger. People were farming ARB campaigns with 10 accounts. IMO. Every one is after a money printer algo, but few understand that there is a human factor involved, i. J0IN THE BEST CRYPT0 EXCHANGE Some people need to understand how much value they are getting for their money. The best I have seen is Jupiter LP which gives like 180% APY. 00 per day in electricity and Ac But if you have the tenacity to buy now, and keep accumulating until then; you can make some life changing money in crypto. sometime down the road the irs will get good and if you did something shady in crypto even 5 years back, you will get fcked for it The days of 1000x are over. It can make a profit, and right now, it would. Are you looking at expensive brands of cars or are you just googling crypto like me, crypto ads I don't think pay much cos they know your already into crypto, your on brave. And when I say reduce your risk there’s still an immense amount of risk involved in buying even BTC/ETH compared to traditional assets. Because you place a bad Risk:Reward ratio on your trades, even if you place a good R:R (assume your R:R is 1 Risk: 2 Reward). A full bitcoin node based on a raspberry pi 4 will set you back about £200. Ok, but the issue isn't related to crypto. network/hc/en-us I was in a lucky position that I was still young (under 30) and being able to make investments while still having my own house (that was priority number 1 which is why I didn’t invest in crypto from 2012-2018 – ask yourself also should you *Ethereum has had negative inflation (i. There's a reason something like 70-90% of day traders lose money. You should diversify, but not overdiversify. everyone agrees with the rules and gives it a shot, but we all know in our gut, it's all useless. Absent a much wealthier world, $32T for all crypto would be a crazy bubble. But you could build a used rig for cheap if you look around and the prices should drop some more within the next 6 months, I would look for used 3070 for about $250 and get a mining rig 8 GPUs on Amazon with a 1800w PSU for about $250. SUBSCRIBERS: 811,000. Internet Culture (Viral) FTX customers are getting back all the money they lost in the crypto exchange’s collapse / The former crypto exchange expects 98% of its creditors to receive approximately 118% of the amount of 84 votes, 334 comments. 401 votes, 1. i dont think you will profit more from buy and hold. I currently make $70k salary at my normal job, paid about $2500 initial investment into crypto that I was able to grow and pulled out at $10,000. In the end I lost 10 years of savings. You can spread your money wide or you can chose projects you really believe in an stick to them. Maybe the ETH 2. For SHA256 mining yeah but right now there are cpu coins that are 4 times as profitable as monero. Because I have traded spot and margin for 3 months in total! Averaging 10-20 trades a day! Crypto is one of the most volatile assets in the world so you don't really need it. Costing me my family’s trust. IMO no. Take SHIB for an example. So if it’s 5$ and uma is 20$ you’ve earned . You are better off with 1000 realistic dollars than 10000 hypothetical dollars. It lets us know how much money value is attributed to it, and how it compares to other coins. At least if the crypto market tanks I still have my GPUs / gaming PCs which is a physical asset. learn and earn on coinbase / binance; Happened to my buddy , he got a loan from the bank on his house and put like 60,000 and a month later it was 30,000 and then a few months later it was 15,000 then at some point it was like 4,000. Some people might allocate a small percentage of their net worth to crypto as a high-risk, high-reward investment, while others might go all-in on crypto as a long-term store of value. If you have 5K then now you are at a decision point. Reply reply iozotac404 Posted by u/Phite007 - 323 votes and 788 comments Your overall coins increase. I am 30, wife and kid and am working full time without a house and have maybe 150 every month to spend and gain almost no money from month to month . I don’t know if it’s possible. This makes them a safer bet for most investors. I just get to nervous putting in money in though, so buying equipment for mining puts my mind at ease. I'm taking this in a different take, to measure it based on a more personal perspective without disclosing much. Every will tell you the steps but no one will tell you the most critical step: selecting the right product. When day trading crypto you are competing with bots, experienced traders. Although that comparison isn't even all that fair considering how much more ETN has done to earn their value (they even created their own phone). Everything mirrors bitcoin's movements pretty closely and bitcoin can't break 10k anymore. Here is a recent discussion on some of them from this sub. Staking. No specific recommendation, but just note - everything with tax is relative. What's the percentage of your guys portfolio that's all crypto? I'd argue that a healthy amount would be 5-20% due to the Once BTC pops off to 40k we will enter the liquidity stage, this is when you sell all your other assets to get cash to eventually acquire crypto. There isn't enough or any regulation on the bulk of crypto. I put all my money in crypto and lost 80 percent of my life savings (20 percent to gamble it back) I hate crypto to this day. I've been into Crypto for well over 10 years at this point, back when Bitcoin was less than $300. e If you were like me and just got into crypto earlier this year. The loan comes due so you do a tax exchange to sell and buy some more property (so that you don't pay taxes, called a 1031 in the US) and pay off the loan with the profits. If a crypto moons, expect 20 to 50x. I then went down a rabbit hole and tried just about everything in crypto, from leverage trading, kucoin, uniswap, pancake swap pretty much everything I touched. We are doing great . com Disclaimer: That is not financial advice, and also everyone is a good trader in bull market, so it won’t be about how I’m a good trader or became one, that’s about things I wish I knew when first started trading on binance futures – that’d really limit amount of money I’ve lost there (and maybe even help me make more money). my 10% crypto allocation feels like my portfolio has 30% more stock than it actually does. But 1 cent is a lot more than no cents. They made the decision to place their money in soild products, not hype, hope and emotion. , deflationary) since January 16, 2023 (Sources: staked. If you hold crypto at market weight, it's about 2% vs stocks/bonds. com is the best place to buy, sell, and pay with crypto. I held all my shitcoins through until the 2020 bull run and was lucky I purchased some Eth and a few others in late 2019 rode the 2020 bull run from there. By now most people on this sub have heard about the Atomic wallet issues and people losing everything they held on the Step 2: Once you've realized bitcoin is the hardest money ever created, you'll understand why selling it for a weaker money makes no sense, and you begin researching how to properly secure btc in your own possession where you have complete control over it. 25 currently. You spend the money to live and don't pay taxes. 100 votes, 75 comments. Buying a then changing it to b then changing that b into c and d then selling the c for a 10% loss and selling the d for a 69% profit. com Holding for life changing money will be the hard part. I've been into crypto for a long time (since 2015), but I have never done anything apart from holding my coins (and some occasional trading which cost me a lot of money on the long-run, heh). But the time a youtuber tells you to buy something is 99/100 times not the right time to do any of what they suggest Yes there is! You just need to have enough money to manipulate the market! Step 1: Open leverage long Step 2: Pump (elon musk incident, exchange incident, pick your poison(s)) Step 3: Money (pull the rug) and open leverage short Step 4: Cash out again Congratulations, you are now a market manipulator. Arbitrum and Optimism were the 2 projects where everybody knew they'd eventually drop a token. I have been reading about the automated trading bots and they make me curious. 07/kWh. Nexo has a $50k cap Been in it for a year now. ) We see this with banks and hedgefunds commonly. If you have 100 dollars, then 1 or 2 max. Put all my savings in there just for a few percentage and then pay bills each month. So we have actual money of 1. Since you need crypto in order to stake it, I am not including it here. The much wow innovative crypto-currency. Don't compound your mistakes. Exactly. Again, start small, allocate maximum 10% of what you are willing to risk into active investing. I saw a lot of people talking about Crypto Royale on this sub, so I tried it myself. com DOES charge 2. 99% for buying crypto via a debit card though. com serves over 80 million customers today, with the world’s fastest growing crypto app, along with the Crypto. As a new trader you need to understand risk, 0. I asked this question on r/financialplanning and the top comments were “zero” and others said 10%. Anyone can be successful in this market no matter how much money you are starting with. I’ve been trading crypto only for about 6 months now using pretty much same strategy as my stocks, only difference is there’s more scope for diversification unlike crypto which is heavily correlated. I believe Evergrande was leveraged in a few investments for example, evergrande before the last year was doing pretty good for itself. Got 2100 usd from manta, 600 from zerolend and 700 from tnsr. Head of household Up to $53,600. But as quickly as it grew, it's dead. 5. The amount of times early on when I would set a stop loss a few % under support and I'd wake up the next day and price would be the same but I'd no longer have my coins and be down 10% because the price wicked down took out my SL and then swung back The thing is, unless you find a 1000x coin (if you're lucky!) you need $$$ to make $$$. I've been trading crypto for crypto since 2016. Good, simple rule is "are you being able to name all coins you have from memory?" If not you probably have too much. Hopefully this makes sense. 799 votes, 251 comments. If the stock market tanks I have nothing. In my country (Canada), many people give beggars on the street $1 and $2 coins that are worth about 75% of USD. 1 million invested, but a market cap of 2 million. What are the top ways we can make money with digital assets in 2022 in your opinion? I don't have much saved I've made A LOT of money by doing Crypto Mining & Crypto Trading (not all that different than stock trading, just much faster paced). You will need at LEAST 10k. They make all their money on selling shitty products and through ads. It’s not more difficult than anything else just more risky. Or check it out in the app stores Realistically how much would someone need in Crypto this bear run to become a millionaire aide next bull run? And this in a nutshell is why in a bull run so much money is made in the alts. Too much is different for different people. com You simply transfer funds from your bank account to your fiat wallet at 0 cost. I know a guy in his 20s who's putting all his savings into BTC and ETH. Position sizing is very important, and without it, people will not be profitable. You enjoy the time. Pi is trying to 167 votes, 159 comments. Most make a few $ a day. That’s what I feel reading price actions is now, at certain times, the stock will do something very similar to what you’ve seen before, example, someone buying at ask lots of 53,35,42,40,55,60 while the stock have massive sellers if you just look at basic depth, but something is about to pop, that’s the time you risk your money to make Day trading is perfectly doable, but you'll lose money fast if you don't approach it with discipline and a plan. Not rich but I bought most of my eth in March 2020 when COVID tanked the market and they were going for less than $100/ETH. Do you have a hardware wallet? If so you probably have a fair chunk of money in a crypto ecosystem. The person who had control of my money turned out to be committing fraud, gambling it away on leveraged crypto trades, had zero audited proof of actually securing my money, and eventually would go on to fake his death in India citing "sudden Crohn's-related" reasons, and being the sole key holder, taking all the money with him. If you already have crypto in your portfolio and want to top up the card, we’ll say BTC for example. Outside of these times it will most likely lead to massive losses. use keplr wallet for staking, and some airdrops; r/beermoney they have a lot of ideas how you can earn some extra money; . 25 uma crypto currency. In December 2018, right as the market was bottoming out, I basically capitulated and said "I'm already down this much, may as well take some risks" and ended up losing everything in a series of margin trades with leverage. This combined with the app being advertised as 0-fee, and the inability to immediately transfer coins to a new wallet, means that anybody who makes the mistake of starting a day trade will automatically lose up to 16% of their crypto Here are some suggestions for streamlining your operation- I work a 40 hour week in addition to flipping- I spend about 7-10 hours a week and make 2k to 3k per month. And the rest is income tax (mining, staking, etc). Publicly traded. TL;DR: Crypto. Many people have written guides on how to do this. The key is the buy and hold with the stock market. They say sure because you have so much worth. Hit the wall every day knowing if I was a few years younger I would have made bank on Amazon stock. Obviously people subscribed to this sub like crypto, but I’m hoping to hear some alternative perspectives here. There are times where I get I’ve seen on the app some people that make upwards of $1,000, $5000 and even up to $15,000/day, yes it takes a lot of money to get to that point but it is possible, theres also discounts you can get from paying the maintenance fee in their crypto currency, its called GMT (GoMining Token) then there is also a “game” in which you click this Crypto. . This is like Amazon FBA. so far TA has been going unexpectedly well for me with crypto. It's also worth noting that Mexc's withdrawal fees and limits can change, so it's essential to check their official website or contact their customer support for the most up-to-date information. You can always make a lot of money in the markets if you know what to buy, when to buy and when to sell. I will get into temps, but for the most part I suggest staying away from over/underclocking. I spend 50-100 hours per week watching bitcoin chart. I want to know whether they are worth it. Heck, It might forever. Well if crypto B drops 10%, guess what, you’re at a breakeven. 36 votes, 155 comments. r/banano also a very generous community and you can use folding @ home for some extra potassium; . I don’t think most YouTubers make much money trading, but I obviously can’t confirm this. e. a way for the devs and VC's to siphon money off of us peasants. I spend approximately 10. I honestly wouldn't recommend playing with 60 energy daily for most people as it can become super exhausting - only reason I've been able to is because streaming myself while playing makes the experience much, much more engaging. People often think of the rosy stories where people invest $10 in Bitcoin in 2011 and How much do you invest in crypto every month? Right now, I'm trying to calculate how much to put into crypto. I would always recommend trading with cash when it comes to crypto. 0 Version might fix this- I don't know. If you have 1000 then maybe you can add some diversity (3/4). I've made a good bit over the past few months swing trading. Celsius lowered its rates to 5% for 1 BTC then 1. I recommend a bitcoin only, open source hardware wallet like bitbox, seedsigner, or cold Money laundering with crypto is one of the worst idea ever. You could have made a ton of money shorting any coin in 2021 and closing your position in 2022. If you don’t afford to lose your money, don’t play with that money. From more than 100 single airdrop I received just 9. com Exchange and Crypto. Tom Lee of Fund Strat gave a preso in 2016 where they analyzed results of including within a typical 60/40 portfolio. Not that I'm an ideologist, foreseeing crypto-money in actual, wide-spread-use (>50% of population) in the next 20-30 years or advocating it's cash-replacement-potential,but your statement is also 100% true for basically every financial good in existence (and I'd even include gold into this, as it's economical usage in production - i. This is very simplified and is much more complex. Like if you didn't touch crypto, if you never heard about it, you have to do all of that and much more when you apply for a bank account, a credit card, etc. I mean you have a short term or long term. keeping in mind most day traders lose money, leveraged investors actually make a pretty good amount of money, (until they don't. So 10% in crypto B wiped out 100% of gains in crypto A. just look at the non stop youtube video thumbnails of some clown The big source of money during a bear market. I know Bro honestly depending on how much money you’re holding it might be safer to put it into an etf like xeqt or something if you want to leave it there and forget about it and come back with some gains. then finally last year when Bitcoin went up to $25k again he sold everything for break even and now he don't touch crypto , bc he got himself into Posted by u/ancheli - 6 votes and 17 comments 23 votes, 171 comments. Crypto. As buying and using crypto is not taxable if it’s Ita tough coz stop losses can be a very damaging tool in crypto because of the violent swings and traps within traps. If you can afford to throw $300 at crypto it will be worth more than investing $300 in blue chip stocks in 10 years but there might be some ups and downs. News like "only $10 of shitcoin turned into 1 000 000$ in just 6 months" prompt people to risk it all, thinking they found the next big thing that will resolve all their problems and for the total amount of 5 minute toilet research they will be set for life. com is slashing lending rates by 50% if you go over $30k in their Earn product. 16 votes, 119 comments. Or check it out in the app stores TOPICS. 04-$0. This allows the team to profit off selling the tokens and people to make money purely from buying and selling the tokens in as short a timeframe as possible. Not what is currently making money. My realistic expectation for the next five years (I’m a crypto tax CPA) is a market cap for all crypto in the $3T (realistic) to $5T (optimistic) range. But close. I see that ETH is losing it's fire. Just roll all into a fidelity Roth account and bought ethe . Life is too short to chase and waste time behind earning money. Single Up to $40,000. Overall, Mexc offers a flexible withdrawal system tailored to meet the needs of both casual and professional crypto users. com Visa Card — the world’s most widely available crypto card, the Crypto. It is easier to lose money than make money on many of those, so I am not including a list. Chengdiao Fan. Usually money just comes in if you are doing something that will solve problems that people are currently facing. On social media I see plenty of people that claim they have lost their live savings, taken loans and invested all their family money in Luna. Bitcoin (BTC) started the week on a strong note, rising 3% Monday afternoon to top $53,000, its highest level since December 2021. I average 1800 per month right now. The sector will just be how some of the world works. I wanted to see, how much money in Finish the rest when I wake up in the morning. A couple of problems with this plan is the unpredictability of the crypto market and lending rates. Numbers of 600k USD are common. Has anyone here turned 100$ crypto into 1000$? Solely by daytrading? I already have an exchange picked. Many people consider staking crypto a way to get free crypto. And the big question, how much I made ? The intersting one. For 2 months I’ve just tried getting as much money as possible and now it’s gone, just like that. Inflation is killing my Fiat anyway. 2-3 here in Australia. How much money do you get per ad watched? I get that people desire to just offload them crypto and get rich but that’s not the purpose of pi. Get the Reddit app Scan this QR code to download the app now. I think 40 energy daily is pretty solid for the majority of people. If you have eg $5k in 10 or 1 king of Crypto coin/s you will be earning capital gains on the crypto IF YOU ARE IN PROFIT from eg BUYING $5k BTC your up to $6k you pay the tax for the 1k capital gains. But if you make money that is real money and at some point take some of it out. I agree, but when you have much money and you don't want to work in an office base or with a boss, I think it's best to be in crypto plus having a business. Also certain crypto is very much a ponzi, however; there are also a lot of crypto that fixes problems that plague centralized systems. 66 votes, 278 comments. Let’s say crypto A doubled in price (went up 100%). Markets are efficient, most of the time. This is the Reddit community-run sub for the Pi Network cryptocurrency project started by the team of Computer scientist Dr. My examples later will assume $4k. That's why I have less money than I did in Sep 2020 when I got into crypto. But that means buying a few years worth of money into it now in order to be set for life, and hodling through a lot of ups and downs for a long long time. Crypto doesn't make you have to ID yourself, or pay the bank an interest rate margin, or pay a vendor's credit card fees that are baked into prices of everything you buy. It pretty much breaks my number 1 rule of trading crypto: Only invest money you have to lose. 3K comments. you need to choose when to run it and when to stop it, how much capital to deploy, withdraw, and so on. The amount of crypto you get varies based on what the value of the crypto is and the amount of money you’re being given for each part of the lesson or in total. Reply reply sanju7850 Many people in the crypto world recommend to move your assets to cold wallets. I treated them like a bank. Certainly the majority of experts on Youtube don't make much from the actual product but do get i. Not a full time job. Once I realised this, I am now happy that everyone is making profits of some kind and that I'm improving my future prospects. imagine bitcoin is 60 thousand to make 100 percent you may wait 6 months or a year. Worthy of investing being on solanas network? The only "smart" in smart money concepts, is how much money Michael (ICT) has made from memberships, without ever providing a proof of profitability, or even trading live setups, over more than 10 years. This is way more lucrative than any crypto 'jobs' site or task-based crypto employment offer I have seen. What crypto faucets are you Hi everyone. Still some money to be made with nicehash and other hash aggregators. I remember that sometime ago, there was a poll that asked how much crypto do you have, but it was in terms of USD, and majority were below USD 1,000 as far as I can recall. FAQs: help. _____ How much will you make: Honestly, not a lot. Married filing separately Up to $40,000. But what I’m suggesting is that as difficulty increases and hash rate goes up, I think higher cost electricity is going to be the marginal player. money) As can be seen, Tezos has the worst real staking return, and Cardano has the 2nd worst. Not only can we handle 400+ exchanges and wallets, but we also work with all non-exchange activity, such as onchain transactions like Airdrops, Staking, Mining, ICOs, and other DeFi activity. Whole crypto twitter was obsessed with airdrops even before the OP dropped their token. 5% profit is a number that could be consistent. TL;DR: A place to Most experts agree that cryptocurrencies should make up no more than 5% of your portfolio. All of the others were scams. Many have that misconception here that staking is that cool "passive income" that makes you money while you sleep. Where expensive brands might pay more? Just an idea, I don't actually know, but makes sense. For one person more than 3 coins is too much, for other person 10 is still good number. a bunch of solutions for non existing problems. Binance also has savings, wich lets you stake flexibel for a way lower% so while your stake is still active you can get like a 1/10th of a penny of said crypto a day and it auto subscribes everyday if you enable it. My take is do the free testnets if you have no capital. And if you made below a given amount on long term then you can get around some taxes. If you'd invested 100 in bitcoin in 2011, you'll have several hundred thousand dollars today - that's the math that's driving some of the narrative around crypto today. Binance has over 25 million users. com app has spreads as high as 4% between the app's listed price and the trade preview page. 5% for everything over that. celsius. I spent 30k 4 months ago. same can be said of just about any other coin that's not BTC tho. I would make at least 10X more money just panhandling on the street. TLDR: I got scammed for basically all my money (70k + 70k + 100k = $240k) and I guess there is nothing I can do about it. That’s actually an insane amount, even though it only gets halved each time, overall the total block reward is much lower than say 2017 where it was 12. I mean you got to admit, it's quite a feat finding excuses to dodge that basic principle for so long, and still have people pay for it. 003¢, it has a market cap of nearly $12 BILLION. Very few things are gonna be more valuable (not profitable) than doing this. I understand how that is done and why. If your price of electricity is low enough there is always money to be made mining a crypto. You can start looking into ICOs, new coins and even crypto interest earning platforms to I bought into crypto at the end of 2017 bull run right at the time of ATHs. Back in 2021 when I was in college I put over 20k into Gemini and bought eth. In the long run your wealth is much greater than just taking fiat profits. I bought 200btc 40 million ada and 100 million mana about 8 years ago and then I was diagnosed with multiple sclerosis and a heart issue at the same time. I'm 20 years old so I don't have very much money but I'm trying to find out if crypto is a good way to earn a lot lol Ty for taking the time to read Archived post. I bought gpus at the topyay me. Sure, if you have 10k and are willing to put it all into one project, you may get some decent yield. A possible solution to crypto's money laundering problem is to bring it under the purview of laws like the US's Bank Secrecy Act. 156 votes, 210 comments. If your random “new coin” (being generous) goes The problem with trading is you lose a lot more money when you fail compared to most things. Technologies like Cardano and Solana is fast approaching ETH's throne. 125 bitcoin from 6. Exactly what he said, it all depends on what do you plan to mine in the future and how much you budget is. But in reality staking does not help much, it won't make you rich through passive income unless you already put in very high sums to stake, then you may gain some reasonable amounts. Sticking it out for the chance at taking BTC from 10c to $70,000 takes real fortitude. If you want to reduce your risk as much as possible and maximize your potential for gains, stop buying alt coins/shitcoins and focus on the big two, BTC and ETH. I rolled all my Roth account to crypto after the last rally in 18 I have crushed ever index out there go ethe. It is crucial to have the first 2 points mentioned above so that you do not crash and burn. Open a charitable trust or Self-directed Roth IRA or IRA trust as they can grow tax-deferred. Regardless of how much you believe in it, it is always good to leave yourself room to escape a bear market. Peerless person to person money has saved marginalized overseas workers millions of dollars in fees from money transfer services like You won't get rich from liquidity pools. I never have reported anything as I legit didn’t even know and am still a dependent. Earn up to 17% APY on crypto, and get a crypto-backed loan for as low as 1% APR. com DeFi Wallet. It's realllllllly hard to keep holding when you've gone 10x, or even 100x. Like money, there is no “normal. Used the cares act to get money out of the wife’s 401k and rolled to a fidelity Roth and did the same. network/ Please make sure that you read our Help Center before posting a general question that can be found there: https://support. a hybrid game of greater fool and hot potato. Miner rewards are going to drop to 3. Anything over 30 coins is def too much. Still, if we are generous and consider Pi to be just as valuable as ETN, then its market cap would be I'm trying to understand how much I should put aside to pay taxes on my crypto investment I cashed out to Canadian dollars. Personally, I have a little over 10% in crypto but I've been considering investing more. It has a circulating supply of 400 trillion tokens, so at its price of 0. I’ve been trading crypto for over a year and I can say that being a consistently profitable day trader, especially with crypto, is hard as fuck. Based on your post, I will guarantee that you will have a 100% chance of losing all your money. There was a AMA with a crypto tax lawyer on Reddit recently and he Profit all comes down to: Electricity cost (mentioned by Maxx) How long you are willing to wait to get a return on your profit If you are running a solar/battery setup at home, and can invest the capital in mining, it can work. There is no true way to know how much money is actually in the market. I sold my alts on zero or a few dollars on red to buy BTC because I invested in a couple and I bought them at the worst time (beginner here). com Without 2021 cheap prices and Covid money, retail might not show up and everything could be thrown into confusion. My advice is to keep dry powder ready so you can pounce when opportunity presents itself. us/yields and ultrasound. Its not to say it cant be done, but the odds are massively stacked against you(esp in crypto as a majority of volume is done through bots). Actually, I am thinking to move much more of my money into Binance. The third main way to make money in crypto is to set yourself up as a crypto authority and get people to give you money for telling them about crypto and get people who want to sell crypto to give you money for telling people about their crypto. It really depends on how much money you have invested. People will tell you what USED to make money as LP. Nice. Money in - money out = loss = up to 3000 deduction This is basically what it comes down to for trading. 0. You probably made a lot of transactions. Same deal with stocks. When you're in a stupidly good bullrun like 10k-40k from 2020 to early 2021, it feels like a cheat code to make money. With crypto, you can turn $100 into $10k+ if you are smart. FML. Certainly won’t find this on Reddit. If you are a US citizen, you cannot legally avoid taxes on crypto The long term capital gains can be $0 in certain situations FILING STATUS 0% RATE. They give you the crypto currency amount valued at whatever you earned. Increasing my crypto holdings has increased my wealth drastically more than how much fiat I have. So just keep your head down, figure out side income then just live peacefully on crypto island with star link and manage your operations in your bed. When i have finally 1000 to 2000 more or so my car need repair and all is gone again :( your way is much better and i I never have luck in the stock market as well. For Filipinos interested in stocks, bonds, mutual funds, ETFs, forex, crypto, banking, business, insurance, and any other topic related to investing money, making money, or growing money in the Philippines. I have been seeing many posts regarding crypto faucets. true. I’ve made over 1,000 trades. 15K votes, 3. Assuming your portfolio size is large enough to do so. Scale up. Adding Bitcoin to your investment portfolio might positively impact your long-term returns, but it’s Bitcoin and Ethereum are the two largest cryptocurrencies by market capitalization, and are more established than many other crypto options. People here keep saying hold forever or until retirement or until "life-changing money". My goal is to make crypto my main source of income next year while still working as much as I do now. You can earn some extra crypto woth: r/stellarcannacoin the community is very generous and will tip you; . so you made 100 percent on your money by buying and holding Long Answer: The first thing I want to point out is that in crypto there is a tendency for teams to build products that facilitate upwards price action of a token. ” $2,500 only sounds reasonable when viewed against other quotes, which really takes examining the sophistication of the return. I spent that day dumping the cash from my money market account into all sorts of different assets, crypto included. The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. I see a lot of comments in posts saying that the majority of people in this sub have $500 or less invested in crypto. Wherever you see people making big gains off of trades they most likely are trading with much larger accounts. com I plan to learn as much as possible before day actually day trading to get the best results overall like demo trading first but I only have 100$ in REAL money (crypto) at the moment. A much more fair comparison is to that of ETN as Pi is basically just a copy of that coin. and only then it may go up to say 120 thousand. 15 votes, 47 comments. I don't have much to put in either, and often I compare myself to others in the sub but you are right, worry about yourself and what your goals are. If you're still in the market for crypto tax solutions, feel free to try us out at cryptotaxcalculator. That still won't put you in the millions. agdnd tqwpv vjud dtg clfw jro cgf gnluf uwvzskn taih