Crypto Can Still Be Profitable
While to most realists it appears the days of the new crypto millionaires who just threw money at random coins worth nothing then watched them rise to metric value making themselves rich beyond belief is a thing of the past, there are other ways to profit from it.
Day trading, or short term trading, of crypto is becoming more and more popular.
The same volatility that is scaring long term investors away, is the same thing that makes it so appealing to day traders.
Unlike Forex which sees currency moves averaging less than .5% at best on any given day the only real way to see large returns is highly leveraged bets.
It is not uncommon for a crypto to move over 10% during any giver 24 hour period.
Others enjoy the low-cost trades such as GDAX which offers free trades (although they do get you for depositing and withdrawing money) or Binnacle which offers their own currency to cut costs of trading to almost nothing.
Most sites do not have a spread they profit off of nor do they charge a commission to trade on their service.
Crypto exchanges are also open 24/7 for anyone around the world to access at any time. Of course like the forex market which is open 23/5, there are better times than others in terms of market movement.
But that doesn't change the fact it offers oppertunities to anyone interested in trading to fit it into their current schedule. his is much more flexible than the stock market and even more flexible than the forex market which closes for weekends.
However its not all sunshine and rainbows. Like any trading their is significant risk involved and their is no guarantee you do not lose everything. Even more so in crypto where everything is digital and there are no laws regulating protections of your funds.
The future of crypto is murky at best with more and more governments putting sanctions on crypto and some even attempting to outright ban it.
Banks are also stepping in and blocking transfers to known crypto trading sites due to all the suspicious activity surrounding crypto currencies as of late. For all we know your government could step in the day after you invest into crypto trading and ban it outright in your country.
These are all real concerns when discussing crypto currencies as well as trading currencies or equities in general.