I’m going to share some insights from a friend of mine, Dan, a seasoned cryptocurrency trader. Dan told me he realized early on that Bitcoin and other cryptocurrencies were going to be one of the biggest investing stories of our time. He is a big believer in HODLing and preparing for the bear markets that the market will inevitably experience. In this post, we are going to focus on two aspects of HODLing that Dan believes will be important moving forward:
Since Bitcoin has been around for nearly ten years now, it’s safe to say that the majority of people who have ever heard of Bitcoin have owned Bitcoin, but what about those who didn’t? I’m sure there are many people who simply haven’t heard of Bitcoin and have never owned a Bitcoin. So, if you are one of those people, how do you go about investing in Bitcoin?
There’s a common misunderstanding that investing in a “HODL” strategy means holding a cryptocurrency like Bitcoin forever. That is not the case. What a “HODL” strategy means is to only buy as much crypto as you can afford to lose. This idea is based on the idea that the world’s supply of cryptocurrency is finite, and that the perceived value of cryptocurrency will continue to increase until it is overwhelmed by the supply. By only buying cryptocurrency that you can afford to lose, you will be able to be in a position where you don’t care if the price goes down. In essence, this means that you are in the market to buy cryptocurrency, not to sell it.
On July 20, the crypto market began a new decline, with Bitcoin dropping below $30,000 for the first time. During the red market, almost $100 billion was liquidated. The decline in crypto assets followed recent stock market sell-offs across the world. Fears of a fresh wave of Covid cases, as well as a bleak economic outlook, led investors to avoid risky assets.
We are, without a doubt, at a fork in the road, with bitcoin poised to either burst out or fall all the way to $24,000. Despite their fears, hodlers remain steadfast, as they usually do during periods of market turbulence and downturn markets. In a study done by Gabor Gurbacs, VanEck’s Director of Digital Assets Strategy, more than 65 percent of respondents indicated they would keep bitcoin even if the price fell again.
Many investors utilize bitcoin to increase their wealth by staking or putting cryptos in interest wallets, in addition to just keeping it.
“We recognize that investing in Bitcoin may be hazardous, and many individuals are losing faith as the price of bitcoin continues to fall. We believe that the interest wallet will help investors hedge their portfolios and boost their confidence,” said Knash Nikolsson, the Bexplus exchange’s Marketing Director.
Bexplus BTC Wallet is a dependable wallet that pays up to 21% interest.
Bexplus is a prominent crypto derivatives trading platform that offers 100x leverage futures trading on a wide range of trading pairs, including Bitcoin, Ethereum, Litecoin, Dogecoin, and XRP. On Bexplus, you may get a demo account, a 100% bonus, and mobile applications. Over 800,000 traders from over 200 countries/regions trust Bexplus, which does not need KYC. MSB has certified Bexplus (Money Services Business).
Simply said, you may earn up to 21% annualized interest by storing your bitcoin in the interest wallet. You may profitably wait for the next bull trend to emerge while avoiding the dangers of trading. You may withdraw your funds at any moment or immediately move bitcoin to your trading account.
Bexplus Wallet’s Features
Independence: Because the wallet is separate from the trading account, deposits are not utilized as margin, and it is unaffected if your holdings are liquidated. Furthermore, your wallet deposits will not be “locked up.”
High Security: The platform utilizes multiple signature access, and all money moved from cold storage to hot wallets are manually handled, requiring the coordination of several staff members. The server has never gone down in its four years of operation, and no money have been lost as a result of any assault.
Early Withdrawal Fines: Withdrawal requests will be handled within one day and there will be no penalties for making a withdrawal early. If you remove your investment before the tenth of the month, you will still be entitled to the interest earned during that time.
There are no KYC requirements on Bexplus since all registrations are done via email verification. You don’t have to be concerned about your information being exposed. Within minutes, you may begin trading, and transactions between your trading account and your wallet are instantaneous.
- No KYC is required, and registration takes just a few minutes with email verification.
- Traders may practice leverage trading on a demo account with 10 BTC.
- Every deposit receives a 100% bonus.
- On the Apple App Store and Google Play, you’ll find an intuitive and feature-rich app.
- Affiliate program with a commission rate of up to 50%.
- Customer service is available around the clock.
Sign up now and start accumulating money.
In the past few months, the cryptocurrency market has taken a beating. While the overall market cap has increased by over 70 percent in the last year, the prices of many of the most popular cryptocurrencies have fallen. The most notable example is Ethereum which has dropped from around $400 to around $270. While Bitcoin has seen a slight rise in price, it has not kept pace with the overall market and is valued around $8,200 (as of writing) when it was priced at over $19,000 when the year started.. Read more about bear market trading strategies pdf and let us know what you think.
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