Cryptocurrency is the newest cash cow in the financial world, with multiple crypto assets having active price fluctuations it is not a surprise that they have gotten the attention of the world. Although, there haven’t been any countries that have ruled the e-coin as its official legal tender, the monetary value of cryptocurrency is still on a steady increase. Bitcoin is the highest valued coin, it was the first-ever crypto asset that was made. The financial freedom it renders to its owner is one of the major reasons why cryptocoins are getting more favored than fiat currencies.
A major way of getting money; the legal tender which is accepted in a certain commercial region, via e-coin is through trading your earned e-coin with fiat money. Like Forex traders, Cryptocurrency traders earn an amount that depends highly on price fluctuations. The traders look to take this constant change in the value of the cryptocurrency to make maximum profit. Cryptocurrency market is a very volatile market with high activity, the higher the volatility of a market the higher you can make a profit or a loss. It is quite impossible to put a range on what a cryptotrader earns per day since it can easily go both ways.
There are times cryptomarket partakers can make a high profit and there are times they will take a huge loss, so it is pretty difficult to estimate the exact amount or even put a range on the income of a cryptotrader. Another reason why it is hard to put a number on traders’ income is that the amount earned per a particular period highly depends on the size of capital. The more cash you invest in a trade, the higher you probably earn. If a number has to be placed on the income of a cryptotrader taking into consideration their skill level a percentage is a better measurement. The higher the percentage of the capital a trader can earn in a month the higher the skill level of the trader.
Even the percentage measurement is not constant, you might have as high as 70% of your capital as profit in a particular month, while the next month you may make a loss of -60%. This is how volatile even the income of a trader, however, a skillful trader will know how to manage their losses more effectively. Many other factors affect the earnings of a cryptotrader which can not be covered. Still, the income range of a cryptotrader can best be described as greater or lesser than $0 per month.