Earning options in the crypto industry: investment and trading (Part 1)
The crypto market is a highly profitable and high-risk investment tool. When entering it, it is important for beginners to observe the most important rule - we enter only with the capital, the loss of which will not cause problems. In no case should you enter the crypto industry with credit, borrowed or last money.
As for the options for earning on cryptocurrency, the main ones are:
🔵 HODL (Hodl) - investment;
🔵 Trading - cryptocurrency trading;
🔵 Staking, Farming;
🔵 ICO, IEO, IDO;
🔵 P2E (Play-2-Earn) - play and earn;
🔵 Nodes and Testnet;
I propose to consider each of these types of earnings on cryptocurrency in more detail.
Before choosing a cryptocurrency for investment, it is imperative to carefully study the project itself, including White Paper, Roadmap, tokenomics, etc. For this, you can use any available Internet resources, for example, the official website of the project, pages on social networks, Telegram channels, etc. It is important that the content on the project accounts is of high quality, the information is updated, and the team maintains a constant dialogue with the audience.
Another important source of information for analysis is Github, a portal where you can see how developers work on their projects.
In addition, it is very important to pay attention to the study of the project team, as well as developers. Team leaders should be disclosed , and it is also ideal if at least one or several well-known representatives from the crypto world are present.
Next, we analyze the mission of the project, its goals, product, its uniqueness and usefulness for the community. It is important to understand at what stage the project is now, whether the coin / token has been issued, on which exchanges the listing was carried out, etc.
Investing in young serious projects in the early stages gives you more chances to get a good profit. However, the risks must never be forgotten.
There is a golden rule of successful trading with cryptocurrencies: buy low - sell at a higher price.
Among the participants in crypto trading there are both professionals and beginners or "hamsters". It is best for a beginner to trade popular cryptocurrencies. They are less volatile, and if you choose a successful strategy, they give a good income.
The simplest type of trading is spot trading with a simple or limit order. In addition, many exchanges provide the opportunity to use spot grid trading, set stop triggers (stop loss and take profit), so that uncontrolled market movements do not lead to irreparable losses.
In addition to spot, there are other types of trading - margin, futures, P2P.
Futures trading is attractive because a trader can make a profit both when the value of crypto assets rises and when it falls. However, it is leverage that makes cryptocurrency futures one of the riskiest trading instruments. And you should always take into account that the longer the leverage, the higher the risk of losing all your capital.
Margin trading is a way of trading crypto assets using borrowed funds.
P2P trading allows buyers and sellers to interact directly, without agents or intermediaries.
Each type of trading has pros and cons. However, it is easier for a beginner to start spot trading with top assets.
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01 August 2022
01 August 2022
01 August 2022