Word xrp needs to get on that passive income wave.
Crypto Winter Discussion
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Rev Leon Lonnie Love
damned mine eyes, DAMNED mine eyes!!
Whats the investment 101 source for investment inept brehs like myself who may have, say 50K, sitting around and are looking to use that to make more money?
For a noob I’d DCA eth wait for the potential dump this winter to sub 500$ then put in an amount that I would feel ok losing sell the top in 2025-2026 rinse and repeat if crypto keeps cycling with btc halving like it has been.
internetexplorer
Pro
I want to learn how to trade, short, options, puts, etc, but don't know where to start. Any advice would be appreciatedanyone else trading on GMX I'm up $7K. If I keep this up I can go part time with my day job
had to flip it to long, LFG!
like everything youtube is the best place to start.
But basics going 'long' is betting an asset will go up and going 'short' is betting an asset will drop. Leverage multiply your rewards or losses. You can't keep losing forever there is a liquidation price where you will lose your position and have to pay fees for closing your position. Higher your leverage the narrower your liquidation price basically high risk high reward. Trades on central exchanges with KYC are taxable events so i avoid those.
Caught it in time up 93% LFG! 1600 baby!!!
internetexplorer
Pro
You using Kucoin?
I don't do options. These days I really just stick with blue chips and index funds with a few dividend stocks.
But investopedia is always a good source.
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No I don't recommend central exchanges not your keys not your crypto. If they go bankrupt all your money is gone or if they decide to not let you withdraw. Alot of fukkery can occur dealing with central exchanges. I use them as a fiat on ramp and get my crypto into my wallet ASAP.
I use this decentralized exchange GMX your wallet is directly interacting with the block chain. No middle men when you close your position the money goes into your wallet ASAP. Here is a how to guide to get on arbitrum one
Once you set up your metamask you can bridge from ethereum to arbitrum using this : Arbitrum Bridge or you can send to arbitrum via Kucoin when selecting withdrawal click the drop down for network and choose arbitrum. Arbitrum wallet address and Ethereum wallet address are the same FYI you just need the arbitrum one mainnet set up on you metamask to view your coins
Yaboysix
That nikka
Y’all some Big Ballin Rich ass nikkas in here, huh.
Good thing I didn’t short it when I went to nap eth pumped to 1790 might of liquidated my short position if I had one
