Global economy has started transferring into a more “digital” way making our lives easier in many things. The first cryptocurrency made its appearance back in 2008, and yes its name is BITCOIN. Today, there are more than 1,200 cryptocurrencies with BTC ruling the place and being one of the hottest investments at the moment. We have to admit that Buy or hold in order to earn some money from crypto is not an easy thing to deal with.
By reading this article, you may benefit by using these 3 simple steps to start trading your favorite assets . Let’s get straight to it.
Don’t be impatient and buy at the lowest price
· Buy and Hold strategy
Most of investors already know this technique and most of the times it works well. The key of this strategy is to wait and buy when your favorite asset drop its value at the lowest price levels. Don’t expect to see big results in just a month (sometimes it happens), all you have to do is to make the right choice. If you are done with it, HODL and wait! Some of you may wonder: How am I going to make the right choice? Don’t worry because we have the answer for you! Another smart trick to take into consideration is to focus on an altcoin that already did its first dip. That means that you will be able (not always) to buy the specific asset even cheaper than its first official price release. So, before you decide to invest, you must make a good research about the Cryptocurrencies you are interested to invest.
Think and invest wisely
· If you have already made a profit, invest it into other cryptos
It is okay to follow one specific Cryptocurrency but there will also be other potential assets that might show potential. A smart way to do that, is to invest the half of your profit to the coins you believe that are going to give you in return. In that way, you will succeed on having a big diversity of different cryptos. In other words, a rich and nice portfolio! In case that you see many ups and downs in the price of any of your investments, we would suggest you to cash out your money before it is too late and reinvest them into another asset. Don’t worry because it is a very common problem for everyone. That is called Market-Marketing and you have to deal with it.
Don’t get greedy. Set targets and win!
· Medium-term strategy
As the title says, in this case you don’t need to be greedy to earn. You just have to set goals and be focused on them to win. It is easy and simple and you don’t have to be the experienced investor to make a profit from this specific strategy. All you have to do is to set targets of 5–15% and when the price reach the level you defined, then you have to sell as soon as possible. If you do the same thing again and again in the right periods, then you can successfully have a good annual income.
All in all, trying to find the most suitable strategy that works for you in not an easy thing to manage. We have done our research and we have proposed you some of the most popular crypto trading strategies that might seem useful to you. Of course, you should give a try to all of the strategies and tips that we mentioned before, following them step-by-step in order to find out what is working better for you.
Blockchain and technology in general, are changing day by day which means that you don’t have to follow the same strategy forever. Experience and time are playing a major role in order to evolve your trading strategies and become a better investor.
Disclaimer: For information purposes only, not an investment advice!
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