Trading is a Business

Written by Edward Gonzales

February 26, 2022

If you want to be a successful cryptocurrency trader, you must treat trading like any other business. In any business how do you make money? You make money by buying something and selling it at a higher price. For example, if you own a restaurant then you’re buying ingredients and people’s time to cook the meals. Then, you sell these meals at a higher price on the menu. You keep the difference as profit. That’s how you make money in the restaurant business. It’s no different in a crypto trading business. The only difference is you’re not buying and selling physical products, instead, you’re buying and selling currencies. It’s one of the best businesses you can get into for a few reasons.

First, it requires a minimal investment. If you wanted to open a restaurant or a store it would take you tens, if not hundreds of thousands of dollars. You can start trading crypto with as little as a $50 account. Most people start with $1,000 or $2,000 because the returns for each trade are higher. If you don’t have that money however, you can start with $500, or even as little as $50. The minimum balance to make a trade is $10 on Binance exchange

Second, as a crypto trader, you are your own boss. This means you don’t have to work 8-12 hour shifts. Even as a beginner you don’t need more than 3 to 6 hours a day to become a successful full-time trader. If you aren’t trading full-time, then 2 hours a day is more than enough to generate a decent income once you have the skills required. 

Third, there are minimal costs to your business: no manufacturing costs, no employees, no rental, no inventory; so you don’t have to pay a ton of upkeep to sustain and maintain a crew or a product. The only physical item needed is a device with internet connection. You will be subject to trading fees by your exchange – while they should be considered into your trading the fees can be nearly irrelevant when you are able to make profitable trades consistently. 

Fourth, trading is a recession-proof job. Unlike other businesses where recessions can be the end of your business, in crypto trading you can make money regardless of whether a cryptocurrency pair is rising or falling in price. If a currency pair is going up then we go “long” on it, and if a currency pair is going down then we “short” it. Therefore, as crypto traders, we make money regardless of whether the market is going up or down. By maximizing your potential as a trader, you ensure yourself a stream of income no matter what happens in the economy. 

Being successful in cryptocurrency trading is very much like being successful in business. You need to work hard and master the skills required. I have people ask me all the time if trading cryptocurrency is easy, and the answer is, “No, it’s not.” That’s like asking if business is easy or if maintaining good health is easy. No, of course it’s not easy. If it was then everyone would be a multi-millionaire, and everyone would be fit and healthy. If it was easy then everyone would just stay at home, press a button to make trades, and reap the profits. This is a business, not an easy way out like so many people think it is when they show up to the market.

To become successful at crypto trading, you must master the skills and learn the required knowledge. Anyone can start trading crypto with no knowledge and make a 50% return on their first trade, but that is just luck. For every trader that does this, there is another trader that lost 50% of their investment on their first trade instead. Trading like that is nothing but gambling. Trading isn’t just about making money, it’s about how to make money consistently – and making sure you don’t lose this money.

The good news is that learning a skill like crypto trading is infinitely faster and easier than learning how to grow your own business or getting a degree and then finding a good job that you’re qualified for. It doesn’t take a 2 year degree or an expensive tuition. You can get started by choosing one of our free or paid courses

By viewing any material or using the information within this publication you understand that this is general education material, and you cannot hold any person or entity responsible for loss or damages resulting from the content or general advice provided here. Trading cryptocurrency has potential rewards, but also potential risks. You must be aware of the risks and be willing to accept them in order to invest in the markets. Only trade with funds you can afford to lose. This publication is neither a solicitation nor an offer to buy/sell cryptocurrency or other financial assets. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

Written by Edward Gonzales © Crypto University 2022

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