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How to Make Money With Bitcoin?
Initially, many of you will be drawn to one cryptocurrency. Bitcoin. Second holders probably will look to Ethereum. All the while, gaining familiarity with other coins, such as Litecoin, Ripple, Tron & Bitcoin Cash, just from dipping your toes into the new and exciting crypto world.
But, with around 1500 different coins on several exchanges totalling over US$500 billion in value, it can become overwhelming rather quickly. If you've recently bought Bitcoin or other altcoins, you've probably gone through a turmoil of emotions just viewing the price fluctuations. A wave of babbling excitement only to be washed out in a sea of dread. |
If you're strong-minded enough to watch the daily charts in 5 minute price intervals, you can certainly make small profits from day trades on the one exchange platform such as on the stock market.
Similarly, you can make money through arbitrage which is achieved through the quick buy and sells across multiple exchange platforms, where prices will be similar and dissimilar over the volatile price movements throughout the day. Then, there are those rare charms that if you happen to get in early on could bring you wealth beyond your lotto dreams! So, where to begin? |
Invest In An Index FundIf you're looking for the safest investment strategy, then you shouldn't look past an index fund. All the confusing choices can be eliminated in one efficient swoop. No more buy and sells and checking out newer coins or questioning the potential growth of older coins in your portfolio.
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Passive IncomeInvestments of any kind will carry a degree of risk and the cryptoworld is known for its unpredictability. Behind every coin was an initial intended purpose and function, and there are systems and platforms which have the potential to give strong returns when properly supported by the crypto community.
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New OpportunitiesInnovation and creativity have never been so prominent.
With the rise of cryptocurrencies and blockchain technology, ground-breaking new concepts are being realized. Newly encountered limits are being challenged by others along the way, to collaboratively produce high quality, revolutionary changes. Getting in early on projects you believe in and supporting them through the lows as well as the highs, can potentially generate massive returns. |
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*Please understand that the information on this site does not constitute financial advice in any way.