There is no limit to the financial gain someone can get from the crypto market.
Trading crypto is different from trading stocks. It is almost impossible to get a 50X return in 6 months by investing in the stock market. There are investors who have taken advantage of their crypto investment and are making seven-figure returns.
Cryptocurrency trading is still new. Even the best stock investors need help understanding this market suggest the experts at YuanPay Team. When you understand the ins and outs of cryptocurrency, you can make a lot of money by investing in it.
It is a good idea to research and learn about crypto. With the right investment strategy in place, you can expect to see your investment growing. Below are some tips that will go a long way in helping you know more about the future of investing and the best cryptocurrency to invest in now.
1. Ladder in the market
When it comes to investing, timing is everything. Just like the stock market, it is important to choose the right time to enter so you can maximize your returns.
There was a price tumble in 2018 and many investors paid the price. The problem was that most did not pay close attention to the warning signs. If they paid attention, they would have noticed that Bitcoin was in the middle of a death cross – this signals the start of the bear market. When the 50-day moving average has crossed the 200-day moving average on the downside, it is considered a death cross.
The best time to invest is in a golden cross – this is the opposite of a death cross where the 50-day crosses the 200-day average on the upside. Traders tend to short when there is a death cross and long when there is a golden cross.
When should you enter the crypto market? There isn’t one date. Predicting a golden cross is very hard. The best thing to do is to ladder in and entering the market when there is the first dip.
2. Utilizing staking rewards
It can be hard to bet on a winner when there are many coins in the market. But the good thing is it is hard to pick a loser when in a bull market.
A good way of maximizing returns is investing in counts offering staking rewards. There are startups offering monthly bonuses for those holding onto their coins. You don’t have to do anything to earn the monthly rewards, just hold on to the coins. You can avoid selling the bonuses and investing them too. This is going to increase your portfolio and will help with your wealth-building efforts.
3. Holding to coins in native wallets
It is important to protect your assets. One thing you need to do is keep the coins safe. The best option is to store them in the wallet of your native coin.
Crypto exchanges have made it easier to sell coins, invest, and deposit funds. The downside is they are vulnerable and the coins can be frozen or hacked – which can result in the loss of all your funds.
It is better to keep them in a native wallet because it is more secure. The account holder is always in control and the wallet is decentralized. When you have a native wallet, you will be the only one with access to that account. Whether you have millions or thousands in crypto, it is important to ensure they are safe.
4. Doing your research
Many people who invest in crypto lose money. This does not mean that investing in crypto is bad – just invest in research and be smart when making investment decisions.
Crypto is still new and it is normal for traders to make mistakes. When the price increased in 2018, people choose to sell their coins. If they would have done a little research, they would have realized that crypto was entering a bull market.
Try to do as much research as possible so you can avoid mistakes. Learn more about the history and then forecast the market before you make any big decisions. If you educate yourself on the market, you can enter and get out at the right time and make a profit in the process.
The crypto revolution is here. They present you with an opportunity to get good returns. The above tips will go a long way in helping you get started with the process of crypto investment. You will be able to build wealth and protect your assets.