> Unemployed for a few months now
> Have 10k to invest
> Need 1.5 - 2k monthly to live well
It is reasonable to live of crypto trading?
I know it seems unfeasible to expect 20% monthly profit on any investment, but wouldn't be possible to make that in the current crypto market?
feasible for sure, but stupid. You shouldn't spend your gains, you're missing out in so much more with the compounding. Go get a job to pay your bills, accumulate crypto
nice, i would say 100k is a good starting point
You're fucked
Have fun paying short-term capital gains tax.
not gonna happen.
you're under a lot of pressure when you NEED to make 20% a month, fucks up all your decisions
10k in eth a year ago would be worth 300k now, but that's based on holding, not selling off $1500 a month
get a job, then start trading for fun or holding
Get a job.
Buy 0.5k-2k worth of coins for fun and excitement.
I made fucking 1500$ with margin trading with only 8000$ in two days
but only I can do this so yeah you're fucked
retards
It's doable but you gotta trade all day erry day.
Give me an email
Yes but the idea is take what you need to pay bills and reinvest the rest.
Like if you'd hit 30% gains, take only part of it and keep the rest for trading
Would be a full time trader
Example:
BCH went up 18,05% in the last 24h.
That woud be good enough for the bills this month. All the rest would be reinvested, to a point where the 1,5 - 2k per month needed would count for a smaller percentage of the total
youre a fucking idiot OP
go get a fucking job, 10k is penuts especially if youre a newbie trader your gonna make mistakes
i hope your on unelpmoyment at least
t.guy who did the same thing
If you need to ask this question you have approximately a 0% chance of making a consistent income daytrading crypto.
Short-term capital gains tax
We just had a ~20B market cap dip to get that 20%.
You have no retort for either of those.
Yeah you could also play blackjack and double your money in 24hrs. It's all a gamble. Chinese icos were doing really well til recent news which fucking slaughtered prices out of nowhere. Don't take money out to live off crypto, take money out for taxes in case you get fucked, get rich on crypto and stop worrying about money. That's the dream.
For 1k in btc/eth or ltc loan, I'll give you it back in 30 days with 15% interest either way you want it.
So $1k btc, get back $1,150 btc in 30 days.
or
0.20 btc, get back .23
Thats a guaranteed 15%, only need $1k though for a bridge loan for a rapidly growing crypto related business.
Sorry im retard but, do i only have to pay taxes on the money i move to my bank account?
On every trade