Either way having got myself to a point where I no longer have to work a full-time job, time has become the most important thing to me, more important than money. Money is just a facilitator. As such my goal in life is to create as much free time as possible to pursue the things I want to do. As such I do not day trade for the following lifestyle reasons:
Metrics aside, Spencer Bogart makes great sense in this thread where he describes the regulatory risk and other risks that might bring the Ethereum house of cards down. It is possible that the SEC will rule that the ICOs are illegal sale of securities. People might go to prison. It is for these reasons that I am under-allocated.
You see I have a bit of an unfair advantage. I have been trading penny stocks for over 10 years. Have you ever heard anyone say that trading is risky and you will likely lose all your money? And Penny stocks are even more dangerous, and mainly all scams? Well, its true that penny stock are often very scammy and there are alot of pump and dumps, and reverse splits and shady company activities. But I have been trading penny stocks successfully for over ten years, and I actually love trading them. I look forward to hitting the markets every day. I often dread the weekends because the market is closed and I no longer have my own personal money making video game 🙁
Given the huge breaches at e-currency holding/trading companies (see Mt. Gox), the huge rise then immediate halving of the value of Bitcoin, I’m not certain I’d put much faith in Bitcoin right now, even though at one time I was a prime advocate for it and even own some (now defunct) external hardware miners. Mt. Gox blew a lot of faith and confidence in the market that I haven’t really seen recover much over the year.
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Once a bill is drafted, legislation for an outright ban of virtual coin trading will require a majority vote of the total 297 members of the National Assembly, a process that could take months or even years.
Sharp, the belief that things under the umbrella of the USA are not in some way, shape or form generated, regulated or presided over by something larger and more powerful than yourself is a naive miscalculation in your thought process.
Tailored specifically to the needs of institutional investors and professional traders, Coinbase’s Global Digital Asset Exchange (GDAX) is recognized as one of the world’s most trusted cryptocurrency exchanges. Coinbase is regulated under the New York Department of Financial Services BitLicense as well as 30+ state money transfer regimes. Through the GDAX platform, investors can trade Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
The Verge (XVG) technology revolves around providing an incredibly safe, private, and fast digital payment transactions – on an everyday basis. It offers all individuals and businesses a fast, efficient, and a decentralized option to make and receive direct payments in an average 5-second window per transaction. It runs on open-source technology, it is not a private company, and it isn’t funded by pre-mined coins. This is one of the reasons why people are so excited about it, all of its development, marketing, and other endeavors are completely done by the community – for the community.
As for the cost, most exchanges apply a maker-taker model for the fee schedule. The market makers can trade almost free of charges, while the price takers bear the trading fees of 0.2%-0.3%. Sometimes deposits and withdrawals are charges as well if the platform accepts funds apart from cryptocurrencies. The trading spreads are an important cost factor when choosing the right platform as the frequent buy and sell can be expensive for day trading if the spreads are wide.
For longterm investors who are willing to actively safeguard their Bitcoin, owning the underlying is clearly the way to go, but prudent steps must be taken to mitigate the risk of Bitcoin theft and/or loss of private keys (i.e., diversifying holdings across wallet/storage types, using two-factor authentication and strong pass phrases).
Back in early September, Chinese regulators banned initial coin offerings (ICOs) in the country and also subsequently required domestic exchanges to suspend crypto-to-fiat currency order-book trading services.
Cryptocurrency trading is a lot more profitable than stocks and commodities trading. First, gain knowledge and experience about cryptocurrency day trading. You have to spend plenty of time looking at the chart.
This post would not be worthwhile if there’s nothing to gain in Bitcoin. In case you are still in doubt as to what you could possibly gain or what’s in Bitcoin for you, you need to really pay undivided attention to what I am about to tell you now.