Cryptocurrency

How Much Can You Make with Cryptocurrency?

Are you thinking about investing into bitcoin? Perhaps you have heard about teens who invested early and became millionaires, or perhaps you have seen an advertisement with people flashing their Lambos and mansions. Well first I have to make a disclaimer and that is that I am not a financial expert or professional trader. Everything written here is based on my own research and personal experiences trading cryptocurrencies. That being said I do believe there is money to be made trading cryptos but I do not believe you can become a millionaire while investing a minimal amount of money. If you want to become a millionaire you would already have to start with a considerable amount of money.

How much money can you make?

Naturally you might be wondering how much money you can make. Unfortunately that question is not so simple to answer and that is because there are various factors that affect how much money you can make. If I told you I doubled the amount of money I originally invested you can’t assume that is what everyone is making. There are many factors that can affect how much you potentially make. Some factors are time, timing, amount invested, and cryptocurrency of choice.

Time

Time is a factor because how long you invest will affect your profits. Do you want to become a day trader or a long-term investor?

Timing

Timing is different from time because it has to do with when you start investing rather than how long you invest. If you started in January the amount of money you make will be different than if you started in July and that is because, as you might already know the price of cryptocurrencies fluctuates wildly.

Initial Amount Invested

The amount you initially invest is also a factor because someone who starts with 10 dollars will have different gains than someone who originally invested 1000 dollars.

Currency of Choice

And finally the cryptocurrency of choice will also affect the amount of money you earn because Bitcoin will rise and fall at a different rate than Litecoin for example. So as you can see these factors make it difficult to say with certainty how much you can make.

My Experience with Cryptocurrency

Because it is quite difficult to say how much you can make with cryptos, I will instead tell you how much I have made on my trades and that should maybe give you an idea how much you can potentially make. On November 2017 I made my first purchase of crytocurrency. I bought about $20 worth of Ethereum (ETH), from November to January the following year the price of ETH tripled. Then I took the $60 I made and added about $50 to that and invested in smaller no name coins. At that time I tried my hand at day trading. I would buy and sell as quickly as possible in order to make as many trades as possible in a day but usually this resulted in minuscule profits. Usually I would gain less than 1%, if I was lucky I would gain 3% and on very rare occasions I would gain up to 30% profit.

As soon as I sold I would jump to a different currency and each trade lasted about 4 hours or so. I did this for about 3 months nearly every day. Eventually I made a mistake in investing in a cryptocurrency where the head of the currency announced he was looking for someone to replace him. I didn’t know it at the time but I watched in surprise as the price of the currency (I don’t remember the name of the currency) plummeted. I decided that the price was falling too fast for my liking so I decided to jump ship. I attempted to sell my currency but no one was buying and as the price kept falling I kept attempting to match the price. Eventually I decided that I would just ride out the wave and wait until the price came back up however long that would take. The price never came back up even after that cryptocurrency got a new head and rebranded itself.

I lost over $100 dollars on that trade alone. In november 2018 I decided to try again with $100 dollars worth of ETH the price went up and I made over a 50% profit. It is now January of 2019 Ethereum has hard forked, Bitcoin might go as low as $1260 and no one knows where cryptocurrency is headed.

Should you invest in crypcurrency?

I believe you should invest if:

  • You are willing to learn how to read charts and understand algorithms
  • Have money that you are comfortable potentially losing
  • Are able to keep a “cool head” (i.e not panic selling)
  • Don’t expect to become rich overnight

If you would like to learn how to get started trading cryptocurrency check out my other article “Crypto Tips for Beginners“. There I talk about the lessons I learned while trading crypto along with some resources that helped me learn how to trade.

159 thoughts on “How Much Can You Make with Cryptocurrency?”

  1. Hello there, just became alert to your blog through Google, and found that it’s really informative. I am gonna watch out for brussels. I will appreciate if you continue this in future. Numerous people will be benefited from your writing. Cheers!

  2. Status Liker, Photo Liker, ZFN Liker, Autolike, Photo Auto Liker, auto like, autolike, Status Auto Liker, Increase Likes, Autoliker, autoliker, Auto Liker, Auto Like, Working Auto Liker, Autolike International, auto liker, Autoliker

  3. Excellent blog! Do you have any hints for aspiring writers? I’m hoping to start my own site soon but I’m a little lost on everything. Would you recommend starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m totally overwhelmed .. Any recommendations? Bless you!

  4. “Pretty nice post. I just stumbled upon your blog and wanted to say that I have truly enjoyed surfing around your blog posts. After all I’ll be subscribing to your feed and I hope you write again very soon!”

  5. I have been exploring for a little bit for any high-quality articles or blog posts on this sort of area . Exploring in Yahoo I at last stumbled upon this site. Reading this information So i’m happy to convey that I have a very good uncanny feeling I discovered just what I needed. I most certainly will make sure to don’t forget this website and give it a look regularly.

  6. I’ll immediately take hold of your rss feed as I can’t find your email subscription hyperlink or e-newsletter service. Do you’ve any? Kindly let me understand so that I may just subscribe. Thanks.

  7. It isn’t easy, and it doesn’t happen overnight. And, clearly, great comments alone won’t catapult you to world domination.
    But they’re a critical, often-overlooked component. And most people who try it write comments that suck.

  8. They’re capable of getting other bloggers to sit up, take notice, and ask themselves: “Who is that?”
    Comments are perhaps the most misused — and least understood — weapons in the ambitious blogger’s arsenal.

  9. You now understand the anatomy of the perfect blog comment, so you can start crafting your comments with purpose.
    The days of frowning cat gravatars are over. Repetitive comments are yesterday’s news. Empty contributions have gone the way of the dodo.

  10. So, are you ready for a new era of smarter commenting?
    In addition to being used to describe temperature, “cool” also means very good or fashionable. For example, you might describe stylish clothes as “cool” or a performance by a musician that you really enjoy.

  11. Thanks for sharing superb informations. Your website is so cool. I am impressed by the details that you’ve on this blog. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for extra articles. You, my friend, ROCK! I found simply the info I already searched all over the place and simply couldn’t come across. What a great website.

  12. Pretty great post. I simply stumbled upon your weblog and wanted to mention that
    I have really loved browsing your weblog posts.
    In any case I will be subscribing for your feed and I am hoping you write again very soon!

  13. An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers

  14. Howdy very cool blog!! Man .. Excellent .. Superb .. I’ll bookmark your web site and take the feeds also?KI am satisfied to search out a lot of helpful info right here within the submit, we want develop extra strategies on this regard, thank you for sharing. . . . . .

  15. I’ve been browsing online more than 3 hours nowadays, yet I never found any interesting article like yours. It¦s pretty value enough for me. In my opinion, if all site owners and bloggers made good content as you did, the web shall be a lot more useful than ever before.

  16. I used to be suggested this web site through my cousin. I’m not positive whether this publish is written via him as nobody else realize such distinct about my problem. You are incredible! Thank you!

  17. KheironStand, 2010 yılından itibaren kurumsal firmaların tüm saha teşhir ihtiyaçlarına eksiksiz olarak cevap vermektedir. Alanında yetişmiş uzman kadrosu ile, ihtiyaca yönelik stantları sizin için tasarlıyor ve üretiyoruz.

  18. Hmm is anyone else experiencing problems with the images on this blog loading? I’m trying to figure out if its a problem on my end or if it’s the blog. Any feedback would be greatly appreciated.

  19. I do agree with all the ideas you’ve presented in your post. They are very convincing and will certainly work. Still, the posts are too short for beginners. Could you please extend them a little from next time? Thanks for the post.

  20. I wish to convey my appreciation for your kind-heartedness supporting those individuals that require help on in this study. Your real commitment to getting the solution all over had become rather insightful and have in most cases encouraged men and women just like me to arrive at their pursuits. Your amazing warm and helpful useful information denotes a lot a person like me and additionally to my mates. With thanks; from all of us.

  21. Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your site? My blog is in the very same area of interest as yours and my users would truly benefit from a lot of the information you provide here. Please let me know if this ok with you. Thanks!

  22. Hey there! This is kind of off topic but I need some guidance
    from an established blog. Is it very difficult to set
    up your own blog? I’m not very techincal but I can figure things out pretty fast.
    I’m thinking about setting up my own but I’m not sure where to
    begin. Do you have any ideas or suggestions? Appreciate it

  23. We’re a group of volunteers and starting a new scheme in our community. Your web site offered us with valuable info to work on. You have done an impressive job and our entire community will be grateful to you.

  24. Nice post. I learn something more challenging on different blogs everyday. It will always be stimulating to read content from other writers and practice a little something from their store. I?d prefer to use some with the content on my blog whether you don?t mind. Natually I?ll give you a link on your web blog. Thanks for sharing.

  25. I don’t even know how I ended up here, but I thought this
    post was great. I don’t know who you are but definitely you’re going to a famous blogger
    if you are not already 😉 Cheers!

  26. I do consider all the ideas you have introduced in your post.
    They are very convincing and will certainly work.
    Still, the posts are too short for newbies. May you please lengthen them a bit from subsequent time?
    Thank you for the post.

  27. Hi there! Someone in my Myspace group shared this site with us so I came to look it
    over. I’m definitely loving the information. I’m bookmarking and will be tweeting this
    to my followers! Terrific blog and brilliant design.

  28. hello there and thank you for your info –
    I’ve certainly picked up something new from right here.
    I did however expertise some technical points using this
    web site, as I experienced to reload the site many times previous
    to I could get it to load properly. I had been wondering if your web hosting is OK?
    Not that I’m complaining, but sluggish loading instances times will often affect your placement in google and can damage your high quality score
    if ads and marketing with Adwords. Anyway I’m adding
    this RSS to my e-mail and can look out for much more of your
    respective intriguing content. Ensure that you update this again soon.

  29. I think this is one of the most significant info for me.
    And i’m glad reading your article. But wanna remark on few general things, The web site style
    is ideal, the articles is really nice : D. Good job,
    cheers

  30. My partner and I absolutely love your blog and find the
    majority of your post’s to be just what I’m looking for.
    Does one offer guest writers to write content to suit your needs?
    I wouldn’t mind producing a post or elaborating on a lot of the subjects you write
    about here. Again, awesome site!

  31. My partner and I stumbled over here coming from a different
    website and thought I may as well check things out.
    I like what I see so now i’m following you. Look forward to looking over your web page yet again.

  32. May I simply say what a comfort to discover a person that truly understands what they are discussing
    over the internet. You certainly know how to bring an issue to light and make it important.

    A lot more people have to look at this and understand this side of your story.
    It’s surprising you aren’t more popular since you most certainly have the gift.

  33. I really like your blog.. very nice colors & theme. Did you create this website yourself or did you hire someone to do it for you? Plz respond as I’m looking to design my own blog and would like to find out where u got this from. thanks|

  34. Howdy! I could have sworn I’ve been to this blog before but after checking through some of the post I realized it’s new to me. Anyhow, I’m definitely delighted I found it and I’ll be bookmarking and checking back frequently!|

  35. First off I want to say great blog! I had a quick question in which I’d like to ask if
    you do not mind. I was curious to find out how you center yourself and clear your head before writing.
    I have had trouble clearing my thoughts in getting my thoughts out.
    I truly do take pleasure in writing however it just seems like the first 10 to 15 minutes are generally wasted simply just trying to figure out how to begin. Any ideas or hints?

    Thank you!

  36. Yesterday, while I was at work, my sister stole my iphone and tested to see if it can survive a forty foot drop,
    just so she can be a youtube sensation. My iPad is now broken and she has
    83 views. I know this is totally off topic but I had to share it with someone!

  37. Awesome blog! Do you have any tips and hints for aspiring writers?
    I’m hoping to start my own blog soon but I’m a little lost on everything.

    Would you propose starting with a free platform like WordPress or go for
    a paid option? There are so many choices out there that I’m totally confused
    .. Any recommendations? Bless you!

  38. I am extremely impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it’s rare to see a nice blog like this one today.|

  39. Hi, Neat post. There’s a problem aloing with your web site in internet
    explorer, migvht tewst this? IE stfill is the market chief and a large section of other fols will pass over your wonderful writing because of this problem.

  40. I do accept as true with all of the ideas you have introduced in your post. They are really convincing and will certainly work. Nonetheless, the posts are very quick for newbies. Could you please prolong them a little from next time? Thanks for the post.|

  41. First of all I would like to say superb blog! I had a quick question in which
    I’d like to ask if you do not mind. I was interested to find out
    how you center yourself and clear your mind before writing.

    I’ve had a tough time clearing my mind in getting my thoughts out.
    I truly do take pleasure in writing but it just
    seems like the first 10 to 15 minutes are wasted just trying
    to figure out how to begin. Any recommendations or hints?
    Thanks!

Leave a Reply

Your email address will not be published.