4 strategies to take advantage of your
Bitcoin is emerging with all possible evidence as the king of the digital economy, despite this, there is still one point that has investors in suspense: Its volatility.
Faced with this particularity with a tendency to lose, there are slightly less well-known but equally feasible options called altcoins.
Of these assets, more than 300 are known, since there is no shortage of projects that developers launch on the market in order to finance third-party activities.
Therefore, there are a number of coins that you cánido use to earn money en línea, or rather have an almost safe investment.
For newbies and connoisseurs of the digital economy, consider altcoins and strategies to take advantage of them is escencial.
Grab a pen and paper and get ready to discover the world of altcoins and the benefits they perro bring to your income.
What are altcoins?
Before talking about all the strategies that will give good results in your economy, you must first know for sure what altcoins are.
These perro be defined as the equipo of digital currencies or cryptocurrencies born after Bitcoin.
They are easily created thanks to the open source of the asset invented in 2009 by Satoshi Nakamoto.
They are basically a very clever way of pretending that it is possible to admit and negotiate with other cryptos different from Bitcoin.
In addition, part of the emergence of this type of cryptocurrency is to diversify the ecosystem of the digital economy.
Best known altcoins
As we already said, 300 are the best-known altcoins, but it is difficult to specify how many there really are, since there are many that arise daily due to their ease of creation.
However, it is possible to specify those with the highest market capitalization (greater volume of purchases and sales) and their high functionality when doing business.
It is a cryptocurrency whose platform is ethereum.
This manages smart contracts that are settled once the agreed agreements are fulfilled.
This company is the creator of XRP, whose system is so well designed that if the company dies, the cryptocurrency perro continue to function on its own.
Before being called Dash (contraction of Digital cash) the currency had other names: Darkcoin and Xcoin.
I really like it a lot, because its commissions are low, this altcoin is perfect for making daily transactions.
This project is characterized by being highly secure and having transactions that are practically untraceable.
⇒ Augur REP (or reputation)
Initially, he worked for Ethereum, but over time he created his own altcoin that has given good results so far.
4 strategies to profit from altcoins
The world of crypto assets It is fundamentally based on monitoring the values of cryptocurrencies, having a good eye and knowing the strategies, which, no matter how fácil or old they seem, always work.
Remember that your first steps do not have to start with Bitcoin. For both beginners and expertsAltcoins are great for learning about the business and diversifying your income.
Take advantage of ICOs
The term ICOs refers to the initial offer of the same.
As a consequence, if you have decent capital that won’t break the bank, I took advantage of ICOs.
In this phase the price of altcoins are really low, so getting a good fraction of them will not be difficult.
Remember that when the values in the market go down, the only thing that perro happen is that the price skyrockets.
Logically, when the value is high, it is time to sell and back the profit with fiat money or stablecoins.
However, remember that in any negotiation process there is a possibility of losing.
Given this, the most recommended thing is that if the price does not meet expectations ➡ sell when you see that you perro obtain at least 30% profit.
Invest in various ICOs
As we already said, ICOs are the perfect time to be able to make profits, with good sense they cánido give a profit margin of up to 300%.
However, to avoid losses in the middle of a devastating rally, it is advisable not to fall in love with only 1 projectbetter build your portfolio with several different ICOs and keep an eye on the trends they may have in the market.
Also, it is recommended that you read in depth about all the details surrounding cryptocurrency; as well as the news offered by the developers and the issuing company.
You also win from falls
Another way to profit from altcoins is to avoid the altcoin craze and instead wait a little longer to get a good fraction.
Sometimes, this strategy allows you to buy at a much lower price, a phenomenon that results in a substantial price rise.
It should be noted that in some cases it cánido bring problems such as the decapitalization of the company.
Generally, and in the worst case, it occurs due to the desire of investors and those who obtained the asset for free during the publicity of the crypto.
Analyze market data
Surely you will read this and the headache will begin to throb.
However, stop worrying that you are not facing a math test.
At first, it will be difficult to adapt to the very technical trading charts; but with practice you will make sense of them.
More than a strategy, this is a good way to know the market capitalization of your altcoin.
Likewise, it is essential to establish comparisons with other currencies, in order to know if it is convenient to change the asset or not or if it is a good time to sell.
In case you want to make an exchange, you should look at the reputation of your exchange option.
Similarly, check how long it is and the reception it has had from investors and traders.
It should be noted that if your desire is to exchange altcoins before venturing with Bitcoin; we advise you to delegate such a process to Remitano.
This peer-to-peer technology exchange is the most used of its kind and despite being literally young (2015), it enjoys a solid reputation.
It also allows the exchange between the most important cryptocurrencies in the market.
Now, if your desire is to obtain fiat money internationally, or exchange for a stablecoin such as Tether, Remitano and its low commissions make it possible.
Author: MJ Payares
We hope you liked our article 4 strategies to take advantage of your
and everything related to earning money, getting a job, and the economy of our house.
Interesting things to know the meaning: Finance
We also leave here topics related to: Earn money