2022 has brought a lot of bearish and bullish phases for cryptocurrency traders and investors resulting in massive profits and losses as the case may be.
This second phase of the year brought with it a great bearish trend with most cryprocurrency traders suffering huge losses
But do you realize you can still make profits despite the current dip?
- You can lend/borrow your coins/tokens via the various exchange platforms and keep earning interests for a fixed amount of time without the risk of losing it all.
- You also have the option of staking your coins which involves locking it up for a period of time and getting rewards. Higher rewards means a greater amount staked.
But the con of staking is that the reward to be earned is relative to the price change of the token which means the higher the price of the token at the end of the staking period, the higher your profit and vice versa.
- You also have a choice of long term hodling of your tokens which requires patience as some coins can last years before yielding profit but that shouldn't be a new thing as a trader as it's one of the traits we have to develop along the line
I know some people might be familiar with the options above while others might find it new, so no matter the case, I hope you can put it to good use