Hey everyone, I’m new to crypto and wondering if I can make it work for me. I’m 21 and want to start something on my own. I’ve got about 15,000 rupees to start with after I practice a bit.
I can only trade before work or in the evenings. I know I’m impatient and sometimes put things off, but I’m working on it. I’m not super smart, but I stick with things once I start.
Can I actually make money with such a small amount? Is it worth doing part-time? What kind of profits could I see in a year if I’m careful? How much does the tax eat into my gains?
Anyone have tips for a total beginner? I’m not looking to get rich quick, just want to know if this is something I should try. Thanks for any help!
hey dancingcloud, crypto can work if you do your homework. starting small is ok, but dont expect big returns quick. try practicin on paper first to get a feel for it, and remember, patience is key. good luck.
hey there dancingcloud! crypto’s definitely an interesting world to explore. i started small too and learned a ton along the way. have you thought about using some of that 15k rupees to take an online course first? might help ya avoid some rookie mistakes.
what coins are you thinkin of trading? there’s so many out there now, it can get overwhelming fast. maybe start with just 1 or 2 to keep it simple?
btw, don’t forget to factor in transaction fees when you’re calculating potential profits. those can sneak up on ya!
oh and taxes… ugh, they’re a whole other headache. might wanna chat with an accountant about that part.
anyways, good luck on your crypto journey! let us know how it goes
Building wealth through cryptocurrency trading with limited capital is challenging but not impossible. Start by thoroughly researching the market and specific coins before investing. Consider allocating a portion of your 15,000 rupees to a stable coin like Bitcoin or Ethereum, which tend to be less volatile. Use reputable exchanges with low fees to maximize your potential gains. Set realistic profit targets and stick to a disciplined trading strategy. Remember that cryptocurrency markets are highly unpredictable, so only invest what you can afford to lose. Keep detailed records of your trades for tax purposes, as crypto gains are taxable in many jurisdictions. Lastly, continuous learning and staying updated on market trends are crucial for success in this rapidly evolving field.
