How to Make Money With Cryptocurrency?
Crypto investments have become one of the most profitable ways of making money as well as one of the riskiest options. All because of the high market volatility, explained by the independence of crypto assets from central banks, the youth of the crypto industry, speculations, and the supply-demand effect. The market of digital assets really relies on the demand and supply ratio, changing its direction up and down depending on these factors.
To make money in crypto, you should learn the following:
- What affects crypto rates?
- How to read crypto charts?
- What assets are worth buying?
- What strategies to use?
Picking a crypto asset for investments is worth paying attention to large and mid-cap coins. Large-cap assets such as BTC, ETH, and XRP are more stable and less volatile, so it is a good idea to buy them as long-term investments.
Mid-cap coins, for example, the LINK coin, are more sensitive to market fluctuations and have more chances to multiply their value during the next market bull trend. Today’s LINK cryptocurrency price is $5.9, quite a cheap asset compared with the market leaders.
How to Make Money With Crypto?
Once you pick some digital assets to invest in, you need to understand what is next. As we said before, large-cap coins are suitable for long-term investments, so you may buy BTC and store it in your wallet.
Mid-cap assets are good for trading. Trading can be:
- Daily: you buy and sell assets within 24 hours.
- Scalping: a trade lasts from 2 to 15 minutes. You can make many such trades a day and receive profit from slight price changes,
- Swing: it takes from a couple of weeks to a few weeks between opening and leaving the position.
There is another way to receive income from crypto – staking. This tool allows generating of new coins by holding assets locked on a crypto platform.
For more information on how to make money from cryptocurrency, welcome to the WhiteBIT crypto trading exchange.
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