Comment on Anon is your financial advisor

JohnDClay@sh.itjust.works ⁨1⁩ ⁨week⁩ ago

• NateNate60@lemmy.world ⁨1⁩ ⁨week⁩ ago

  You can make significant money by trading crypto peer-to-peer. It is incredibly risky but you can make around 6-7% profit after fees. I made around 2,000-3,000 USD monthly, moving around 40,000 USD in volume. The main risks are chargebacks and account closures.

  It wasn’t free money, of course. But the effort-to-profit ratio is pretty high once you figure out how to weed the good clients from the bad (scammers who will pay, receive crypto, and then dispute the payment).

  Do not ask me how to do this and do not reply to anyone who comments below claiming to know how, because they’re probably a scammer.

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  • calcopiritus@lemmy.world ⁨1⁩ ⁨week⁩ ago

    Investments are not effort-to-profit. They are risk-to-profit.

    There is no such a thing as risk-free investing. If there is an investment with good returns, it means it’s just as easy to lose all that money.

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    • NateNate60@lemmy.world ⁨1⁩ ⁨week⁩ ago

      This is not investing. I did not ever hold significant amounts of cryptocurrency. People would ask me to sell them crypto and then I’d buy it on a crypto exchange and then sell it to them.

      I do not believe holding cryptocurrency qualifies as “investing”. It is much closer to gambling as the entire valuation is purely speculative. I get that all investing is gambling to some extent, but it’s not the same as stocks, for example, because holding stocks gives you voting rights for a company’s board of directors and entitles you to a portion of the company’s profits in the form of dividends.

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      • calcopiritus@lemmy.world ⁨1⁩ ⁨week⁩ ago

        Don’t call it investment if you don’t want to, but there’s no such thing as easy money.

        If there’s a way to earn money with little effort it means that there’s a big risk.

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  • chunkystyles@sopuli.xyz ⁨1⁩ ⁨week⁩ ago

    A high effort to profit ratio would mean a lot of effort for a little profit.

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    • NateNate60@lemmy.world ⁨1⁩ ⁨week⁩ ago

      I meant to say profit-to-effort. I fixed it

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  • ThrowawayPermanente@sh.itjust.works ⁨1⁩ ⁨week⁩ ago

    That’s being a dealer, when people say trader they mean something else

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