We’ve all thought of a way to earn extra money outside of our 9 to 5 job, with some prefer to save, some invest in real estate and some in bonds.
Given that Bitcoin’s mass adoption rate is growing faster when compared to the internet, it is projected that in the next four years, Bitcoin will have around 1 billion users. With the high volatility, comes great rewards.
Today, we take a look at alternative ways that you can use crypto to increase your wealth besides hodling.
Disclaimer: Our content is intended to be used and must be used for informational purposes only. It is very important to do your own research and analysis before making any investment based on your personal circumstances.
Unlike holding or hodling crypto which is a one-way traffic, trading allows you to make money from the crypto market in bear and bull trends. In short, you will not be crippled by the market trends. However, It is also true that trading is one of the hardest skills to master when it comes to making money and it requires time and effort but not impossible!
For those who are willing to invest the right resources to trade their way to success, besides gains, trading actually rewards you with a high level of fulfillment and achievement that money cannot buy!
If you do not have the time, knowledge or experience to trade, there is good news! You can either start by taking a trading course such as the one offered by 4C Learning or use a crypto trading tool to help you buy and sell, round the clock; such as the SMART Bots by 4C Trading.
In trading, there are broadly two ways to do so: manual and automated trading. With manual trading, that is taking control into your own hands—you decide how and when to trade. With automated trading, you will be relying on trading bots that are programmed with trading algorithms to decide when to buy and sell based on a set of conditions that are pre-programmed. The latter is what the 4C SMART Bots do – simplify crypto trading through automated buying and selling to suit all levels of traders and investors. It should be used as a passive income tool to help you accumulate gains.
As we mentioned above, trading gives you the option to maximize profits from the crypto market regardless if it’s a bull or bear trend. Take for example, the current state of the crypto market is seen as boring with BTC hovering around the $38K region for a while now. However, for the skilled traders and investors, there are pockets of opportunities in between these times and volatility is a good thing because where there is volatility, there is money to be made.
If manual trading is what you are interested in, then for sure honing in on your technical analysis is a must! There is lots of research and studies to be done here. Alternatively, you can follow the 4C’s Traders Trade Signals – manual crypto trading signals in the premium 4C-Trading Telegram Channel, Trade Room. Follow these signals posted in the Trade Room channel and manually execute your trades. This is a good start for the beginner to intermediate traders.
The Traders Trade Signals are a free feature of all SMART Bots paid subscription packs. At 4C-Trading, our aim is to simplify crypto trading for people of all levels through a suite of tools to complement automated and manual crypto trading.
There are two ways to access the crypto signals for free if you don’t have a paid SMART Bots subscription. You can either sign up for the 14-day free trial at no cost or enter our social media contest and win 3 months of free SMART Bots subscription here.
Next option, you can choose to stake your crypto. How does it work, you may wonder? In a nutshell, it’s quite simple, you just have to block funds (USDT, BTC, ETH or other) for a determined period of time and collect the interest. ETH 2.0 and ADA are good examples of the above.
Take Ethereum Staking as an example – by locking an amount of ETH for a specific period of time, you’ll be contributing to the security of the Ethereum blockchain and in return, earn network rewards.
Can you make good profits from staking? The answer depends on how much you’re investing and the time horizon you allocate to it.
Is it safe? Just like every investment type, there is always a certain amount of risk involved. Having said that, with cold staking you can stake your crypto using a hardware wallet or another cold wallet. The advantage of this is that the funds are safe because the wallet is not connected to the internet. You need physical access to your wallet to manage the funds.
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There is an alternative to staking which is none other than lending. This approach is a lot riskier than staking because for staking, although there is a risk too, you can do it on big exchange platforms such as Binance. So it is not a zero risk but the probability of not finding your funds is low. Furthermore, with staking, you are helping to secure a network.
The lending approach is more risky and can be done on smaller DeFi platforms which are more likely to be the target of a hack than larger platforms. Also, when you use lending, the collateral is often a newly created crypto which can decrease in value.
In short, with lending, investors are providing liquidity for other people to trade and in return, they earn an interest, a passive income of sorts.
Rumor has it that NFTs are a good hedge in times of bear market but we aren’t quite sure if that can be said. Reason being, NFTs of all kinds are highly speculative and the volatility can be a lot higher than hodling or even trading, in some cases.
Before embarking on the wild ride of NFTs, other than doing thorough research, you need to be mentally prepared that there is a good chance that the NFTs that you invest in could be worth a few ETHs today and less than one ETH tomorrow. The safer bets would be the ultra blue chip NFTs but to fork out millions to acquire these is not something that the mainstream can afford. Don’t be discouraged though, if you are willing to dig deep into research and invest time and effort, you can certainly find gems that will appreciate in value over time. In this case, make sure that you have the discipline and holding power to hold for the long haul.
The above are some of the tried and tested ways to make your money work harder in crypto for you. Depending on your goals and risk vs rewards profile, you will have to do your own research further before making a decision.
At 4C-Trading, our objective is to build a suite of comprehensive crypto trading and investing tools to help you build your wealth. The advanced trading algorithms of our SMART Bots is a tool used by fund managers and ultra high-networth individuals, and we want to extend the benefits of these powerful bots to you so that you can future-proof your wealth today!