I would love to day trade with crypto but the risk is to high for me.
My problem with Day Trading with Cryptocurrency
I would love to buy ETH right about now and wait a couple of days to sell it. After that I would probably wait a bit before buying an other crypto and repeating those steps.
The problem is I can't afford to lose all my progress over night. You see I am the type of guy that will always want maximum security. When I buy my coins, I send them to my hard wallet.
If I wanted to sell my wallet when the price of Ethereum reaches a certain point, my fiat money will stay on the exchange. Unless I withdraw my money to my bank (with some unwanted high fees) or buy a diffrent currency it is at risk :
- The exchange could shut down (shoutout Mt Gox)
- Some one could hack my account and steal it
What we need
We need a coin that would stay stable. But how would you do such a thing? To me it is simple. Correct me if I am wrong, but can't we make a coin, let's call it USCoin, that will always have a rate of 1 USCoin = 1 USD $? This type of coin, with a secure wallet would let everyone day trade and would lower the risk of getting hacked/losing money.
What do you guys think? I am curious.
