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Lens
LensKnowledge Seeker
Asked: August 22, 2023In: Money & Business

How can I monetize my hobbies?

It is excellent to generate money from ones hobby, but that could only be done if you are good and passionate about it. You could consider offering services based on what you are knowledgeable about and on what ...Read more

It is excellent to generate money from ones hobby, but that could only be done if you are good and passionate about it. You could consider offering services based on what you are knowledgeable about and on what is your passion. It could be teaching as well.

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  1. Ahmedo24
    Ahmedo24 Newcomer
    Added an answer on August 23, 2023 at 4:41 pm

    You can monetize your hobbies by creating an engagement platform like YouTube, Instagram, Facebook Twitter, etc. Once you have any of these or all the platforms the next is to constantly upload content that is helpful to your viewers or followers. You can build audience gradually with these contentsRead more

    You can monetize your hobbies by creating an engagement platform like YouTube, Instagram, Facebook Twitter, etc. Once you have any of these or all the platforms the next is to constantly upload content that is helpful to your viewers or followers. You can build audience gradually with these contents and then apply for monetization from the platform you make use of.

    In addition, comments from your viewers or followers could help you in advancing or improving the platform.

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deucher
deucherActive Contributor
Asked: August 14, 2023In: Money & Business

How do you feel about trading?

I once had the experience of trading both cryptocurrency and ordinary assets such as the euro and gold and for me it was an interesting experience but unfortunately not very successful, I lost a lot of money and decided to ...Read more

I once had the experience of trading both cryptocurrency and ordinary assets such as the euro and gold and for me it was an interesting experience but unfortunately not very successful, I lost a lot of money and decided to leave and even now this field contains a lot of scammers. And I wonder what your attitude is to trade

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  1. yusra
    yusra Trusted Adviser
    Added an answer on August 21, 2023 at 2:09 am

    Trading can be risky but also presents opportunities to profit from markets. It requires thorough research, discipline, and risk management. Active trading demands constant attention to markets, while passive trading like index funds requires less oversight. Different styles suit different investorsRead more

    • Trading can be risky but also presents opportunities to profit from markets. It requires thorough research, discipline, and risk management.
    • Active trading demands constant attention to markets, while passive trading like index funds requires less oversight. Different styles suit different investors.
    • Trading frequently can incur higher transaction costs and taxes compared to long-term buy-and-hold strategies. These costs should be incorporated in strategies.
    • Successful trading requires an analytical approach to identify opportunities while controlling emotions and bias.
    • Traders can benefit from continuous learning and development of their skills and strategies. Markets evolve rapidly.
    • Diversification and risk management are key for traders. Having all your capital in one trade magnifies potential losses from that trade.
    • Trading provides an outlet for those interested in finance and markets to be actively engaged. For some, it can offer an intellectual challenge.

    Overall, trading requires diligence, discipline and skill development but can be rewarding for those with the proper mindset and approach. There are both risks and opportunities, so one should follow strategies that match their goals and temperament.

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Mika
MikaExpert Mind
Asked: August 14, 2023In: Crypto & Forex

How to avoid getting scammed with P2P trading?

P2P trading is a popular trading method in the crypto market. This involves directly dealing with another individual instead of trading platforms. However, a lot of scams also go around P2P trading. How can you save yourself from P2P scams?

P2P trading is a popular trading method in the crypto market. This involves directly dealing with another individual instead of trading platforms. However, a lot of scams also go around P2P trading. How can you save yourself from P2P scams?

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  1. Rimisha
    Rimisha Knowledge Seeker I am students and I am always eager to expand my knowledge and share it with others.✨
    Added an answer on August 14, 2023 at 10:07 am

    When engaging in P2P trading, exercise caution and follow these guidelines: Use reputable P2P platforms with strong security measures. Verify the seller's reputation, trade history, and user feedback. Conduct transactions within the platform's escrow system. Avoid sharing personal or financial inforRead more

    When engaging in P2P trading, exercise caution and follow these guidelines: Use reputable P2P platforms with strong security measures. Verify the seller’s reputation, trade history, and user feedback. Conduct transactions within the platform’s escrow system. Avoid sharing personal or financial information outside of the platform. Stay vigilant and trust your instincts.

     

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Suba
SubaKnowledge Seeker
Asked: August 14, 2023In: Crypto & Forex

How to Optimize Arbitrage Trading Profits?

Currently there are more than 400 spot crypto market exchanges that sell crypto/coin at slightly different prices, this opportunity is often used by arbitrage traders to make profits. So traders must quickly take spreads on exchanges. Crypto price differences between ...Read more

Currently there are more than 400 spot crypto market exchanges that sell crypto/coin at slightly different prices, this opportunity is often used by arbitrage traders to make profits. So traders must quickly take spreads on exchanges. Crypto price differences between large exchanges and small exchanges often occur only for a moment which is often caused by different liquidity, trading volume or activity. So is crypto arbitrage trading still profitable?

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  1. Ahmedo24
    Ahmedo24 Newcomer
    Added an answer on August 14, 2023 at 6:50 am

    You can optimize your cryptocurrency arbitrage portfolio simply by understanding the technical analysis of the market and that of the different exchange platforms. You must know the compatibility of the blockchain network before anything else. .Also, Crypto arbitrage is only profitable if you have aRead more

    You can optimize your cryptocurrency arbitrage portfolio simply by understanding the technical analysis of the market and that of the different exchange platforms. You must know the compatibility of the blockchain network before anything else.

    .Also, Crypto arbitrage is only profitable if you have a significant amount of money because most times the price difference is usually a few cents.

    In addition, your network must be efficient to execute your trade before the abnormalities are corrected within the exchanges.

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Ahmedo24
Ahmedo24Newcomer
Asked: August 10, 2023In: Crypto & Forex

How do you make money from Futures Trading ?

No doubt, cryptocurrency assets are volatile but despite this people are heavily investing in them and also trading them to make money. I am aware people also lose money, especially in futures trading which is termed to be risky. However, people ...Read more

No doubt, cryptocurrency assets are volatile but despite this people are heavily investing in them and also trading them to make money. I am aware people also lose money, especially in futures trading which is termed to be risky.

However, people on Youtube, telegram and other social media platforms share their earning proof with different strategies. Can you share with me any working strategy that can help me make money from futures trading either on Binance, Kucoin or any other exchange platform?

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  1. Svishok
    Svishok Expert Mind
    Added an answer on August 12, 2023 at 12:12 pm

    Making money from futures trading involves speculating on the price direction of an underlying asset, like commodities, currencies, or indices, at a predetermined future date. Traders can profit from both rising and falling markets. By taking long positions (buying) when anticipating an asset's pricRead more

    Making money from futures trading involves speculating on the price direction of an underlying asset, like commodities, currencies, or indices, at a predetermined future date. Traders can profit from both rising and falling markets. By taking long positions (buying) when anticipating an asset’s price will increase, or short positions (selling) when expecting a decrease, traders can profit from price movements. Successful futures trading requires thorough market research, technical and fundamental analysis, risk management, and a disciplined approach. Due to the leverage involved, potential profits are magnified, but so are potential losses. It’s crucial to educate yourself and consider using demo accounts before trading with real capital.

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deucher
deucherActive Contributor
Asked: August 10, 2023In: Money & Business

What you should know before investing in copy trading?

I am ready to invest a certain amount in copy trading. The only thing I know is that it’s a big risk but also a very big return. What do I need to know before investing and is it even ...Read more

I am ready to invest a certain amount in copy trading. The only thing I know is that it’s a big risk but also a very big return. What do I need to know before investing and is it even worth it and can I expect a decent return?

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  1. yusra
    yusra Trusted Adviser
    Added an answer on August 11, 2023 at 12:51 pm

    Here are some key things to know before investing in copy trading: Understand the strategy - Check the details of the trader's strategy and make sure you're comfortable with the assets being traded, risk approach, etc. Review trader's track record - Look at their overall history of returns and losseRead more

    Here are some key things to know before investing in copy trading:

    • Understand the strategy – Check the details of the trader’s strategy and make sure you’re comfortable with the assets being traded, risk approach, etc.
    • Review trader’s track record – Look at their overall history of returns and losses over different time periods. More data is better.
    • Analyze risk metrics – Look at metrics like the drawdown percentage and risk-reward ratio. Higher returns often mean higher risks taken.
    • Check number of copiers – More copiers might indicate a popular strategy, but too many copiers can also dilute potential returns.
    • Know the fees – Platforms and traders charge fees that will reduce your net profits from any gains.
    • Be ready to act fast – Adjustments need to be made quickly in volatile markets to cut losses. Turn off auto-trading if uncomfortable.
    • Diversify – Don’t allocate more than 5-10% of capital to copy trading and use multiple traders.
    • Monitor regularly – Actively check your account and trader’s current positions. Withdraw if losses mount.

    Do thorough due diligence as you are essentially handing control to someone else. Start small to test copy trading waters.

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