Trading with cryptocurrencies
This is the link to a site where you can generate some income by investing in cryptocurrencies. I haven't tried this site yet, but I saved it. You never know, right?
I don't believe in making money quickly or easily, but it might be worth a try because the value of crypto is finally going uphill again. Perhaps investing is mainly meant for those who earn more than I do, those who can easily earn $80 or more for a post.
If you are insured, you can take the risk of depositing the minimum amount requested, an amount that many have to survive on for a month or longer.
Just like the site mentioned above, there are even more sites and different ways to earn with current cryptocurrencies.
Buying at a low price and selling once the value increases is one way.
Simply leaving the amoumt in a wallet, or saving it in a separate wallet (stakimg) is also an option, to receive a kind of interest. If you have a Nexo account, you can also receive this stake in Nexo.
In the case of staking, your crypto will be invested. The result is a small tip for you
The question is whether it would be better to invest your currencies yourself. If you could receive more profit.
Unfortunately, the options given are not possible for the average crypto owner. We all know that it takes a lot of time to sort everything out, keep yourself informed and not everyone can handle the stress of seeing the last saved dollars go up in smoke.
Perhaps a site using AI is an option and can take over this task? If you have experience with the site mentioned above, please let me know.
I am currently investing in something similar. I agreed to try it out.
Indeed I'm afraid it's a scam or will be a big fiasco, but it's worth a try. After years of working 40-60 hours a week, I don't have a penny in savings for myself and I can no longer live on $10, today I need at least 25 a week and even with that amount, I have to use the food I stored in my pantry which is emptying very quickly.
I will be honest. The trading site I am currently trying out is still developing. A new feature should be rolled out every month. A plus is a lower deposit is required than with the first site I mentioned, namely $50.
I was so lucky to receive this amount in XLM from the person who brought this to my attention and asked me to try it.
To be fair, not everything goes smoothly, which causes a lot of stress and so far I have consulted support many times. By now they are for sure tired and sick of me. Imagine they have ten users like me.
Two of my children joined recently.
Both received the minimum amount asked in crypto (we helped each other with this starting capital). If this site turns out to be a scam then I am the only one who will lose her money since in addition to the starting capital received in XLM, I also transferred BCH from 2 different wallets (it took some time but was eventually successful) and this morning I deposited BTC.
If it comes to transferring XLM and XRP from my wallet to my children's I needed help. The support given was helpful but my other questions were ignored. For example where to find the history of transactions. As I just started the support given by chat was immediate. Today it takes hours and the only response was "Hold on".
Yesterday, November 11, 2023, I transferred BCH from this site to an external wallet of mine. It was for the very first time. The amount was received a few hours later.
Today I exchanged Hive for BTC with the help of StealthEX which worked out fine.
Next, they transferred the amount in BTC to my new wallet at the site I am trying out.
At the time of writing, a few hours passed, and my BTC wallet was still empty. Maybe I'm a bit impatient, but I keep asking.
If it comes to deposits and withdrawals the support's answer differs (day or who asks or ?). Sometimes it is: right away, other times the answer is: 2-3 hours. Because my BCH was there right away after I asked for it, I'm going to ask for my BTC right now... (and so I did).
Because the site is still under construction (a large part of the icons do not work yet), I have the feeling that transactions are done manually. I hope it gets better with time because waiting hours for a deposit is annoying and I lack patience if it comes to this. No, this site is certainly not a replacement for the regular bank as that friend suggested.
Investing in cryptocurrencies can be a way to generate income, but it's not for most of us.
If it's hard to deposit and withdraw, you can only have access to your funds if support is available and willing to help it makes investing via this site useless.
The friend I mentioned asked me to show how this site works to a friend of his. To be honest I don't feel great about this request since my own experiences aren't great and this person allegedly lost everything after the interference of the government.
By the way, I never met this person, I don't know him and therefore don't know if this is true. And no, I didn't ask about it either.
But because he said that he had applied for a loan and wanted to invest that amount, I advised against it. I don't like to be blamed for someone's financial misery.
Yes, it sounds nice to invest 40K and have 200K in 1 year, but that is not realistic.
After all, the value of the crypto of your choice is not fixed and a loan must be repaid with interest. In addition, you have to figure out how to convert such a significant amount into the necessary currency and the tax authorities will also take a large piece of the pie.
I use currencies I already have, I don't buy because I don't trust this site enough to entrust my banking details. Partly because the site has only been active for a few months and is not yet fully operational, but also because I have encountered quite a few bugs.
Btw: I am not going to mention the name of this trading site yet, but I will once it is worth mentioning.
My advice: look for reviews and pay close attention to the name. It is striking how many sites exist that almost share the same name.
Do not borrow money or use savings that you can't afford to lose. Not only an accident but also a scam is around the corner.
In my opinion, buying, investing, selling and exchanging currency is still not as easy as it is claimed to be. This is partly due to the large number of traders, the different wallets and the country where you live. What is a piece of cake for one person, is only possible for another via a long detour or even impossible.
By now two more hours passed by after the support's answer: Hold on. My BTC wallet is still empty and my replies are ignored. Perhaps it is the weekend, or perhaps they are busy but I feel stressed and annoyed. I at least expected an answer like "We are busy, we answer ASAP".
If I wake up tomorrow and everything is gone... I better prepare myself for the worst. I'll face the consequences, will say this is another experience of a perfect disaster and continue my life.
If you wonder my guess is, that the friendship will be over and for now, I can only think 'What a fraud', let's hope I am wrong.
Update: I received the BTC but it does not show in my wallet. I know because my balance increased. Also if I go to 'trade' the BTC wallet shown there contains the amount.
Another bug which I will report.
The photo was taken by me