Bitcoin, It’s a digital financial asset, that can be used as a global currency, can be used to replace gold, and can be also used to make a huge profit. You can buy or sell this crypto anytime suitable for you. Many are assuming that bitcoin can go over $500,000 or it could also end up with zero dollar value. So If you can make a profit with this then you can also lose with this. But by using the correct strategies (which we’re gonna talk about), and the right timing, you can minimize the risk and maximize the returns, and in this article.
What is Bitcoin? What is crypto?
You can assume that the crypto market is another version of the stock market, but it’s not totally like that. You can use crypto to store your money online without any restrictions. but every single transaction is recorded in a public list called the blockchain. You can send money to people from any country, you can transact all over the world. It is so much value because there are high demands for bitcoin as people are willing to exchange them for real goods and services and even cash.
The value of bitcoin is continuously rising since it was released, the year 2009. The lowest value of this in history was recorded at 0.003$ and the highest value at $60,000 in the year 2021. But In this time bitcoin also crashed a lot of times recently it fall from $30,000 to $20,000 in just a single month of July but taking a step back isn’t a good idea but you should look closer, and research this if you really wanna make money using crypto.
How to make Money by BITCOIN?
Peoples use crypto to make a profit, by holding or trading it, and you can also use the crypto to make a profit from that, I’ll guide you on doing it. On the other hand, some guys used to do mining not only of bitcoin but also of a lot of other crptoes like LTC, XRP, XLM, and hundreds of more. But mining it requires very powerful computers. If you started mining now it could be years before you got a single Bitcoin. This might result in loss because it will gonna take a lot of electricity which will be not equal to the value of the mined crypto.
Trading. It’s one of the quickest ways to make money with crypto. But you should always keep in your mind that crypto like bitcoin has a very high volatility rate, but thats also afford the way to make quick money. Trading crypto is much similar to stock. It’s just all about buying it at a lower price and selling or trading with another crypto Tether at a higher price. Tether is the stable crypto in history. By theory, it should be unaffected by market volatility. If you do this with the right timing you can minimize the risk and maximize the returns.
Storing or Holding It. This is also a good way but that’s a long-term thing and has risks as well. All you have to do is buy crypto at the lowest possible rate, wait for weeks or months to reach the value of the token at a higher rate, and then sell it. But make sure to research the coin’s future before investing.
Trusted Crypto Exchanges
There are also many, many cryptos that are similar to bitcoin and can be used to invest as well, like Litecoin, Ethereum, Tether, XRP, and many more. You can access, buy, sell or trade these tokens over almost any exchange app which I’ve listed below:
- Binance
- Coinbase
- Crypto.com
- WazirX
- OKX
- CoinDCX
- Coinswitch Kuber
- FTX
- KuCoin
All these exchanges are 100% safe to use.
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