The Importance of Income Diversification for Crypto Traders
The Importance of Income Diversification for Crypto Traders
Sometimes, the direction of Bitcoin is unclear. For example, the price action of Bitcoin is actually confusing. I have learned one thing in these recent days: As a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, mining, and other legitimate sources of income. If I say that I will force trade now, it can end up in a loss.
What is your take on this?
Again you are missing another important thing: first, you should not rely on trading itself as an income stream for your living. I mean trading is 101% uncertain thing which means you may make profit some day and loss in some other day still there would be nothing guaranteed in trading that you would earn something at the end of a month. Moreover, if you are able to finish your month securing your capital, that would be a bigger success for most traders in this crypto space.