Keira
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| | How to trade bitcoin? (15th Mar 22 at 3:28am UTC) | | Strategy #1 - Buy and Hold Long
Perhaps the most primitive, but at the same time effective way to earn money. Over the past 7 years, it has been working flawlessly on the Bitcoin cryptocurrency. Experts estimate the maximum value of BTC in different ways - some at $100,000, and some even at $1 million. However, they all agree that over the next few decades, the digital coin will rise in price. The essence of this strategy is quite simple, buy a crypt and store it on a local wallet until it rises in price.
SMARTGUIDE warns that you should never buy digital coins during their growth period. The best moment to enter is a negative news background. When all analysts are talking about an approaching drawdown, you can safely buy a crypt. The course collapses at such moments by about 30% -40% of the previous maximum value.
Try not to be led by emotions, if the rate fell below the entry point, then this is not a reason to sell coins. Hold your long position for as long as possible. Initially, set yourself up for the fact that this is a long-term investment strategy. It is likely that you will be able to receive your first profit only after a few years.
This strategy is focused on popular cryptocurrencies that have proven their potential. Pay attention to:
bitcoin;
Ethereum;
Ripple
Litecoin;
Zcash;
dogecoin.
In today's realities, an appropriate solution would be to invest in tokens of DeFi projects.
It is worth storing coins on reliable local wallets, for example, Electrum. You can also select other cold storages, including hardware devices. Don't forget to back up, write down or memorize the SEED phrase. Such important information should be stored in the safest possible place. Double-check your backups, passwords.
Multi-signature wallets can be a good alternative. Their peculiarity lies in the fact that the consent of several people is required to transfer coins. You set this up yourself first. However, this option is optimal for investors with an impressive start-up capital.
Together, all the recommendations presented will significantly increase the level of security of funds.
Advantages
a long-term strategy for investing in Bitcoin and other cryptocurrencies with a large market capitalization can bring 100% -300% per year, it all depends on at what stage you decide to exit the transaction;
the maximum volumes are practically unlimited. Institutional investors come to the cryptocurrency market, which minimizes risks;
Special knowledge and skills are not required. Just choose a promising coin from the TOP-10 by market capitalization and buy it on the exchange or in the exchanger.
disadvantages
probable theft of coins associated with the choice of an unreliable wallet;
the cryptocurrency rate will not grow forever, so you need to exit the transaction in a timely manner;
long-term focus - the investor will receive the first profit after 1-2 years;
taxation - from the income received you will have to pay 13%;
additional costs associated with the payment of commission costs. | |
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