Some people are like.. which of the two should I do?
While some go with Trade and Invest, others go with just buy and store the coin so that when or maybe if the value rises, you stand to gain lots!
If you ask me, I will say you should do all of the above! Trade, store and Invest your cryptocurrency because each has their ups and downs and being in all will largely minimize the effects of a possible down in one of them.
Why you should Trade
Trading gives you instant gains. But it makes the most sense if and only if
you have a good source of buyers and sellers &
- if you have a large volume of these Bitcoins! I think you should trade because I trade Bitcoins myself and it's a good way to ensure that you have money frequenting your pockets going in and coming out while leaving some change that can be useful on each run! I have a friend that has sworn to just trade and ignore the rest of them because Trading is one way you can get that QUICK HIT money with Crypto.
Yes, as a trader, if you get large volume trades coming your way, you can be potentially making quite a lot of money which will be difficult with any other means of Earning from Bitcoins and other cryptocurrencies.
For me, I think the most important thing is that you will be making some gains, small or big here and there and that can really ADD UP!
Why you should Store Bitcoins/CryptoCurrency
Storing these Bits is a good way... the best way actually to earn in the cryptocurrency world. Without going far, let me give you an example that will explain it all to you.
At a time, probably 6 years ago, 1 Bitcoin = $1
Imagine you spent $100 to buy 100 Bitcoins then.
The value of the same Bitcoins now will be about 100 x 14000= $ 1400000
Yeah, you just got $ 1400000 with $100 and that's the power of Buying and Bitcoin and other cryptos.
Yeah, you might not wanna buy the Bitcoin again because it may seem like it's gone far and you have missed out. Don't worry...there are so many others out there and they are called altcoins. We have looked at them in the past here and we are still studying them in order to identify good investment opportunities and sweep in before the coins grow.
Why you should Invest in Cryptocurrency
This is one that is actively involved in too.
By investing, you get to wedge against the value of Bitcoins going down. This means that even if the value of Bitcoins go down, as long as you have Bitcoins in secured investments, you don't have to worry because your money is not going down at least not at the rate at which the crypto is going down.
By investing in secured investments such as Bitcoin mining, you earn daily and you earn for a very long time so, whether or not the price of Bitcoins is going down, you keep earning!
So, invest to wedge against the bad effects of Bitcoin value going down.
Summary
Investing in one aspect is not the best as I pointed out earlier. By so doing, there are so many things that can happen that will not be in your favor but by being everywhere, the effect of a negative outcome in one does not mean that you are out of the game as the others should be able to sustain you.
So, stay everywhere and stay in the game!
And don't forget to learn the pros and cons of any of them that you want to go with.