How to earn money from virtual currencies and avoid their waves how to earn money from virtual currencies and avoid their waves
Last Wednesday, digital currencies around the world lost a trillion dollars from the peak of their market value recorded in mid-April.
On Wednesday, the market value of those currencies fell to 1.53 trillion dollars, down from 2.519 trillion dollars in mid-April, before rising slightly to an average of 1.57 trillion dollars in early trading today, Saturday.
How to profit from digital currencies and avoid losses? .. 4 tips
Every few days we hear about the cryptocurrency craze; And how Bitcoin or other currencies reach a new high, and then to a low.
With the expansion of global investment in virtual currencies, other than their high risks, here are these tips.
1- buy coins
Buying digital currencies, by creating a digital wallet through one of the trusted platforms, because different exchanges allow the investor to buy or trade currencies to keep in your wallet.
Once the wallet is created, you can hold the virtual currency until it is ready for sale with the hope that its price will rise to acceptable levels.
The investor has to be careful, as the prices of cryptocurrencies fluctuate at present, with high waves of rising or fall, so, the best advice in this part is to buy a group of virtual currencies for investment.
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Bitcoin is expensive; An investor may have difficulty buying at a time when some investors are hoping to make money using cryptocurrencies via Bitcoin.
In the end, you need to make sure that you create a diversified and reputable cryptocurrency wallet through a reliable platform, after that, you need to be careful so that you can sell your coins when you feel that your profit has been reached.
2-Accept payment
Another way to make money, using cryptocurrency, is to accept them for payment. If you have a business where you sell products or services, you can pay with the cryptocurrency of your choice; And here you need a digital wallet, working with people who are ready to pay in cryptocurrency.
With a little research, you can find customers who use cryptocurrency and are willing to pay you by converting currency through Bitcoin.
After you receive the payment, you can either use it to pay others for something or keep it until its value increases.
And if the value of the currency rises, you can get a strong profit by selling in US dollars later.
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3 - Mining coins
It is possible to mine your cryptocurrencies, But there is a difficulty for the investor to use the home computer in this matter.
Regardless of the way to make money from cryptocurrencies, the investor should be aware of the market conditions; If the value of the virtual currency goes down, he has to wait for it to go up again to sell it.
4- cheap coins
A common mistake made by cryptocurrency investing enthusiasts is to buy cheap cryptocurrencies that usually face a violent crash with the rise of Bitcoin.