How to make money day trading crypto
Mining Most cryptocurrencies are mined. There had to be a real strategy to this stuff. Bootstrapping my own company gave me an unprecedented amount of freedom.
I felt overwhelmed but sat through the confusion to try and make sense of what I was looking at. Fundamental analysis could give me a hint on which charts to look at, but at the end of the day my trades are based on technical indicators. It was the kind of job people love - high salary, all the Silicon Valley benefits, friendly team, well funded company, challenging engineering problems. Does it get harder to day trade when you are using larger sums? Bootstrapping my how to make money day trading crypto company gave me an unprecedented amount of freedom.
The price kept diving. Being 22 years old in New York City is a financial struggle. I did want it. I am emotionally invested in the success of Bitcoin and crypto in general. At least not right now.
But I also feared losing my freedom. My assumption was that on such a sharp decrease in price, it had to rebound eventually. The taxable event is when you sell your cryptocurrency for fiat. I earn more USD when the price of Bitcoin goes up against the dollar.
My financial situation needed to be stabilized before I could invest in assets based on my philosophical beliefs. If you are holding a currency for more than a year it is classified as long term capital gains. The idea is that you stake the cryptocurrency how to make money day trading crypto you own over a wifi connection. As the month went on I spent hours trading. I made a lot of mistakes.