You´re better off trading some Cryptos than just to HODL!
Normally all trades on the Stock markets are made with USD or any other fiat currency. Of course this makes sense there as it´s the only way you´re able to trade or did you ever see or have the possibility to exchange some shares from one company for the ones of another?
On the CryptoCurrency market though you may either exchange your tokens for BTC, USD or ETH depending on the Exchanges you are actually trading on. Now it might sound strange to you but it´s true that you will be better of in the long run trading some other cryptos for your BTC as you increase the number of tokens you hold rather than just their equivalent worth in USD.
Let me give you an example for all this to make it a little clearer. let´s say you have 1 BTC and just look on the USD value of it. You might have bought it at 4.000 USD, see it going down to 3.500 USD and in the end you sell it for 4.200 USD with a Profit of $200 USD. Sounds good for sure, but you could have made more by trading your 1 BTC for other tokens in the meantime.
So by doing as I recommend, you still have 1 BTC that you bought at 4.000 USD and as the Price goes down to 3.500 USD you still own just 1 BTC. During such a low normally all cryptos loose some value, so that you can e.g. buy up to 10% more Bitshares for 1 BTC than you could at a markets high. But why would this be good now? To make it a little more specific you buy e.g. 10.000 BTS at the low for 1 BTC but whenever the BTC price rises every other Crypto rises as well so that you might actually sell those for 1.1 BTC again in the end due to their equivalent price recovery against BTC.
This whole intermediate trade will now enable you to sell 1.1 BTC for 4.200 USD and leave you better off with a profit of 620 USD rather than just 200 USD. Of course it´s a little riskier but with the BTC price being estimated at more than 25.000 USD in a few years you´ll definitely be better in the long run by trading some cryptos to increase the number of BTC you own and hence your profits as well ;)
Disclaimer!
All the above only reflects my personal opinion and is definitely not meant as an official investment advise. In case you should apply any of the above on your trades it´s on your own risk as especially in the CryptoCurrency market there´s no guaranteed way of success.
Join the Revolution!
@ADSactly, The Crypto Community of the Future!
Interesting, there is like a rule in cryptos, that the Bitcoin price goes normally down less percentage than the other cryptos, you can profit from that for sure...Thanks you for sharing, I will try next dip ;)
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You got it ;) And this gap just shouts out for being traded for some extra profits :)
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Good post ;)
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Thank for sharing this.
I am now entering the whole trading world, because I want to learn how to use it. I am excited to read post about that topic that help me to increase my knowledge about that.
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Welcome to the great world of cryptos :) Enjoy it bit be careful im your investment decisions ;)
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Yes, of course.
Right now I reading with very small amounts just to get better feeling :)
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So, does the old wisdom hold true here, too, to risk no more than 10% of one's portfolio value?
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Well the more you invest the more you might win or loose. It's all just based on the risk you're willing to take. But one rule still holds: Never invest any money you can't afford to loose!
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Well said
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This post received a 3% vote by @minnowsupport courtesy of @sammosk from the Minnow Support Project ( @minnowsupport ). Join us in Discord.
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This post received a 3% vote by @netuoso courtesy of @sammosk from the Minnow Support Project ( @minnowsupport ). Join us in Discord.
Be sure to go to https://steemit.com/~witnesses, scroll to the bottom of the page, and vote for @netuoso.
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It but me think ...
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This is assuming the BTS will outperform the BTC. But will it? It might just as well take a dive and you'll be able to sell for 0,9BTC in the end ;-)
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It's more based on the fact that all cryptos go down along with BTC but as they are traded against BTC you can get them for a discount ;) Just look at BTS. It fell 50% while BTC just lost about 20%, you trade that gap more or less.
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Nice kawan
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