It is to believe that the price of Bitcoin will increase after the Bitcoin Halving in May or June happening soon. This prediction is backed by the fact that the price of Bitcoin has increased during the last two Bitcoin Halvings in 2012 and 2016. Another prediction going around the cryptosphere is there will be a rise in Bitcoin price due to the coronavirus incident as people are moving their assets into someplace safer such as digital currencies.
The future could never be predicted but it does seem promising as the price continues to climb up after the price fall due to the coronavirus pandemic a few weeks ago. However, there are plenty of things you can do with cryptocurrency apart from keeping Bitcoin in the corner while waiting for the price to increase. When it comes to cryptocurrency, the sky’s the limit. This episode, consider doing things that has to do with trading:
The simplest thing you could do with cryptocurrency is to buy and hold them until they obtain a fair market share. Consider investing in Bitcoin, Ethereum, Litecoin etc. This would consider being a long term investment as the value is appreciated as time goes by especially when paired against a high demand fiat currency such as USD or EURO.
An alternative method is to stake coins. Although similar to holding coins, staking is holding crypto coins in a crypto wallet. By doing this, they will earn staking rewards and for securing the blockchain network. Examples of staking coins are Komodo, NAV Coin, Tezos etc. What’s more, the value of a coin will increase as the demand increases.
Arbitrage trading is when an asset is bought and sold at multiple platforms with a slightly different price. This would create an opportunity to earn a good cut in between by buying low and selling high on another exchange. Commonly, arbitrage trading uses A.I bots such as Cryptohopper and PSIGEN.
Cryptocurrency is known for its high volatility which only makes sense that you can benefit from day trading. Usually, seasoned traders are more comfortable with day trading compared to new traders. This is because of the many factors to consider in order to make profitable trading which explain why some would think day trading is complex.
Leverage trading or margin trading involves borrowing funds and investing more than your actual capital. This service is available on crypto exchange platforms such as Binance. For example, 25:1 leverage (or 25x) means that for every dollar the trader stakes in equity, they can trade $25. This is also known as a 4% margin trade.
If you are interested in trading and would like to explore the list mentioned above, sign up for Brexily. Brexily is a cryptocurrency trading platform that offers zero trading fees when paired against EVR tokens. The simple interface in Brexily makes it the perfect platform for users new to trading. Brexily is set to revolutionize the crypto trading platform with its exclusive feature that allows you to fully utilize your crypto coins by paying bills and utilities, book hotels and more with cryptocurrency.
Visit www.brexily.com to explore more.