How To Make $100 a Day Trading Cryptocurrency
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
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The idea of making $100 a day trading cryptocurrency is appealing — and yes, it’s possible. However, pulling consistent returns takes strong market knowledge, capital and emotional restraint. Some days may not garner returns because of market volatility, so day trading with cryptocurrency requires patience and a long-term goal. Here is a full guide on how to make $100 a day trading cryptocurrency.
What You Need to Make $100 a Day Trading Crypto
Requirement Details Capital -$2,000 to $3,000 for high-risk strategies
-$5,000 to $10,000 for lower riskSkills -Technical analysis — price charts, indicators, candlestick charts
-Emotional control to avoid panic selling
-Risk management to know when to exit tradesTools -Low-fee crypto exchange like Kraken, Coinbase or Binance
-Charting software and alerts
-Automation tools for a hands-off approach
Best Strategies To Make $100 a Day Trading Cryptocurrency
Here’s a quick look at six different strategies you can use to start building toward consistent daily crypto profits.
| Strategy | Description | Pros | Cons | Capital |
|---|---|---|---|---|
| Scalping | Multiple small trades to explore price gaps | -High trade frequency -Fast gains |
-High fees -Requires speed -Can be stressful |
Need at least $1,000 |
| Swing trading | Hold positions for days to weeks to capitalize on trends | -Strategy driven -Less screen time |
-Slower profits -Requires patience |
Need at least $2,000 |
| Breakout trading | Buy or short after price break levels | -Clear entry signals -Advantages in volatile market |
Need technical analytical skills | Need at least $2,000 |
| Grid trading bot | Automate buys and sells based on an interval | -Hands-off strategy -Works well in sideways market |
Ineffective in strong up/down markets | Need at least $500 |
| Arbitrage | Exploits price differences between exchanges | Low risk | -Requires speed -Opportunities not always available |
Need at least $3,000 |
| News trading | Trade based on news | Can yield quick profits | -Risky -Emotional decisions |
Need at least $1,000 |
Scalping
Scalping is a day-trading strategy when you trade crypto very quickly, according to price trends, but in stages that follow the trends. For example, if bitcoin is on the rise, you might buy some, hold it for five minutes, and then sell at a small profit.
Repeating the strategy over the course of the day can add up to significant gains.
Swing Trading
Swing trading isn’t day trading, but it’s a good compromise for some investors. With this, you hold your crypto for days or weeks, which lets you take advantage of market cycles and still profit from shorter-term volatility.
This is an advanced technique that requires familiarity with technical analysis to execute successfully.
Breakout Trading
Breakout trading is a strategy to enter a trade as soon as the price surpasses a certain range. You must capture the momentum early with breakout trading. This strategy is best in volatile markets.
Grid Trading Bot
A grid trading bot is a software program that automates the buying and selling of cryptocurrency. Buying and selling are set at predetermined levels. These trades can be completed 24/7 and don’t need constant human monitoring.
Arbitrage
Arbitrage trading capitalizes on price differences of the same asset on multiple exchanges. Profits are generally small, so you need to have a large volume to have a meaningful return. The success of arbitrage trading depends on speedy execution.
News Trading
Major events drive news trading gains. Success depends on how quickly you can act. Trading requires real-time monitoring to capitalize quickly.
Tools You Need for Crypto Trading Success
To maximize your success in crypto trading, you need the proper tools. Here are some that may help.
Beginner-Friendly Crypto Exchanges
Coinbase
- Key features: Simple user interface, educational content and FDIC-backed cash
- Why it is good for beginners: Coinbase is easy to navigate and ideal for first-time buyers who are just getting started.
Kraken
- Key features: Flat deposits, strong security and low fees
- Why it is good for beginners: Kraken is good for learning basics and includes optional pro tools for more advanced trading later on.
Binance USA
- Key features: Low trading fees and wide variety of coins
- Why it is good for beginners: Binance USA offers affordable access to alt coins, making it a good choice for beginners interested in diversifying their crypto holdings.
Gemini
- Key features: Secure storage and user-friendly app
- Why it is good for beginners: Gemini is a regulated platform that appeals to cautious investors looking for safety and simplicity.
Technical Analysis Platforms
The right tools can make or break your next trade. Here’s a comparison of go-to platforms for technical analysis.
| Tool | Purpose | Best For |
|---|---|---|
| Trading View | -Strategy testing -Indicators -Advanced charting |
Beginners and pros |
| CoinMarketCap | -Price tracking -Volume market cap |
Research before entering a trade |
| CryptoCompare | -Portfolio tracking -Coin analytics |
Beginners managing multiple assets |
| Glassnode | -Analytics -Trends |
Advanced insights |
Automation Tools and Trading Bots
Bots are automated software programs that execute trades on your behalf. The trades are based on pre-set data, strategies and real-time data. The bots can trade 24/7, avoid emotional decision-making and capitalize on market inefficiencies.
Although you’ll pay to use a bot, the speed with which it can perform analyses could help you make more successful trades.
Here are a few examples of bots:
- Grid bots: Buy low and sell high within a price range.
- Arbitrage bots: Exploit price differences between exchanges.
- Scalping bots: Make many trades a day to earn on small price changes.
Quick Risk Management Checklist for Beginners
Ready to trade? Use this quick checklist to stay in control and protect your capital.
- Set a strict loss limit per trade: Avoid risking more than one to two percent of your capital per trade.
- Make use of a stop-loss order: A stop-loss automatically halts trades when the market moves against you.
- Avoid overleveraging: While leverage can amplify gains, it also increases risk — especially when trading with just $100.
- Limit your daily trades: Try to avoid chasing every price movement.
- Keep a trading journal: Note all the trades you’ve made to keep track of profits and losses.
4 Beginner Mistakes To Avoid in Your First Trades
When you’re just getting started, it’s easy to make a misstep. Here are some common beginner mistakes — and how to avoid them.
1. Trading Without a Plan
It may be fun to jump into a crypto market, but without a plan this could be disastrous for your finances.
- Solution: Have a strategy that includes profit targets, risk limits and entry/exit rules.
2. Not Factoring in Risk Management
Going all in on bitcoin may appear like an exciting strategy, but you don’t want to risk all your capital on one investment.
- Solution: Be wary of risking more than one to two percent of your capital on a single trade.
3. Trading With Emotions
If you’re motivated by fear, you may decide to panic and sell too quickly. Alternatively, greed can make you hold too long when you need to sell.
- Solution: Set predefined rules, and set up alerts to reduce emotional reactions.
Pushing To Overtrade
You may be tempted to chase every price movement, which can lead to poor decisions.
- Solution: Focus on the quality of the trades and not the quantity.
Final Take: Making $100 a Day Is Possible — With the Right Strategy
It is achievable to make $100 a day trading cryptocurrency with a chunk of capital, the right strategy and patience. There are several accessible tools, and many platforms contain beginner-friendly features, free technical analysis tools and automation bots. You can start small and then scale with consistent returns.
Crypto Day Trading FAQ
Still have questions about crypto trading? These quick answers can help you decide if this strategy is right for you.- What tools should I use for technical analysis?
- You'll need charts to identify candlestick patterns, resistance levels and other indicators. Some trading platforms offer them.
- Are trading bots worth it for beginners?
- Probably not. A bot can recognize patterns and execute trades more efficiently than a human can, but the bot is only as good as the instructions you give it. So you're better off learning and refining trading strategies first, and then using a bot to execute the ones you've had success with.
- How do I minimize losses while trading crypto?
- You can minimize losses by doing the following:
- Placing stop-loss orders.
- Restricting trades to a small percentage of your investable funds.
- Diversifying your holdings to include less-risky coins.
- You can minimize losses by doing the following:
- Is it possible to make $100 a day trading cryptocurrency?
- Yes, but consistently making $100 a day takes a strong strategy and knowledge of the market. If you're a beginner, expect losses.
- Which crypto is best for daily earnings?
- Some cryptos that have higher earning potential are bitcoin (BTC), ethereum (ETH) and solana (SOL) — just keep in mind, they are also higher volatility.
- Can you make money day trading with $100?
- It is possible but difficult. Trading with $100 gives little room for error. There is less of a cushion for volatility.
- How much money can you make day trading crypto?
- Returns will vary widely depending on the market, the investment and the experience of the investor.
Elizabeth Constantineau and Daria Uhlig contributed to the reporting for this article.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
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