Know when to hodl or tether! If you only hodl (hold) coins you will sit and watch them loose price in a down market. Consider converting your coins into a stable coin such as Tether. You can use other stable coins as they all tie their value to the US dollar.
The price of stable coins remains equivalent to $1 per coin regardless of the market. Many alt coins die out in a bear market. Offer them as the market drops to hold however much incentive as could be expected. Keep researching the coins’ projects and if they are still developing, updating and you still believe in them buy back in at the lower price. They now may be at a much lower price you can buy the same amount, buy more or into another project and diversify further.
A smart strategy for more reputable coins like Bitcoin and Ethereum is to only hodl 50% to 75% of your holding and Tether the rest during a dip. Decide how far into a dip you want to sell to Tether and stick to it. Don’t concentrate on the dollar amount but on the quantity of coin. This method will increase your quantity if you are looking for a store of value. In an extreme bear market like now, sell more if you reach your lowest buy-in point you can buy back at a lower price and get more coins for your dollar.
Yes, bear markets are not bankruptcies. If you want to invest in alt coins it is best to wait for the bear market out before buying.
What coins should you invest in?
I greatly believe one or all of the big three will be in the market through thick or thin. These are Bitcoin, Litecoin, and Ethereum.
I’ve lost nearly a thousand dollars in mining crypto. I am new to the scene and had multiple miners running on multiple devices, however the site miner owners required payment for withdraw and or you are given such slow hash speeds that it’ll take a decade to get even just to 0.005 Wich is a month-long process if you have the patience to keep dismissing ads and restarting the miners. Is there any better legit miner sites that offer a lower withdraw rate than 0.005 or ones that allow you to accomplish that# within reasonable time?.
Cryptos are proven from the track record hit historical value due to the holiday season due to the vast amount of sites offering gift cards for your BTC. That being said how many people buy gift cards now of days for gifts opposed to giving cash in a card. Conveniently you can use your btcs on sites to buy all your Christmas gifts and employees bonuses are now gift cards as well all being paid for with BTC. I wish there were more honest miners with more reasonable withdraw terms and lower withdraw amounts.
Cryptocurrencies are NOT investments without investing on a platform and should not be treated as such. At this point, they are speculative vehicles. That does not mean one can’t and ought not to put resources into them as long as you have a genuine venture stage like multicoinbank, just they ought to be clear what they would do which is a hypothesis.
Putting is tied in with placing cash into resources with desire for money related profit based for monetary action. The majority of the movement in digital currencies starting at 2017 is revolved around desires for proceeded with increments for the sole reason of past increments.
One can present a defense that gigantic increment in the premium and consciousness of cryptocurrencies is sufficiently enormous that it has achieved a minimum amount and pulled in enough genuine players and genuine feasible venture organizations which are going to surface from all the commotion.
That is certainly possible, but the degree of uncertainty right now, as of late 2017 till date, is so high that it still amounts to speculation.
Do not think of cryptocurrencies as investments. They can certainly be speculated on, and the actual volume of foreign exchange trading is stupendous, in trillions/day.
But this market is a huge speculative trading market that has nothing to do with investing.
Remember that putting your cash into digital forms of money is an exceptionally unsafe theoretical recommendation and treat it thusly with the exception of you have an incredible speculation stage that you put resources into. That implies ensure you realize what you are doing by continually keeping exceptionally exacting exchanging order and hazard the board.
I started accumulating BTC from the teens into hundreds so even the drop in the last 5% is still profit.
6200 seems to be the main support level so I might get back into it next time it pops down there or plays one of the breakouts that are forming on the chart.
I will say though that I never viewed this as an investment more like an expensive lotto ticket and don’t think that mindset has or will change for a while.