Bitcoin is still the number one cryptocurrency in the industry, but the market is changing. A good or bad day for Bitcoin no longer means a good or bad day for the entire market. As other cryptos gain in popularity, there are more opportunities to make a profit than ever before. So what’s the best way to maximize your crypto profits? There are many investing secrets, but here’s one you should consider.
MAXIMIZE CRYPTO PROFIT: DIVERSIFICATION
The telltale saying of “diversify your assets” still rings true. As mentioned, Bitcoin is no longer the only cryptocurrency worth owning. You cannot put all your money in BTC and expect to maximize your crypto profits. Instead, you need to diversify. A healthy wallet these days has Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Bitcoin SV and many more. But how do you buy all these if you’re short on money?
TAKE A LOAN TO MAXIMIZE CRYPTO PROFIT
Let’s say you were obsessed with Bitcoin a year or two ago. You thought the bull run would never end, so you bought up as much as you could. Well, the climate is different. Bitcoin struggles to grow as new altcoins take off. How do you make a profit on that? One option is to take out a crypto backed loan.
There are a few different crypto lending platforms that will take your bitcoin as collateral and give you cash in return. With this money, you can turn around and buy more crypto to diversify your portfolio. Then, when the market turns bearish, you won’t be completely out of business if Bitcoin plummets. Sure, maybe 2 or 3 cryptos are having a bad day, but if you spread your investments well, other cryptos having good days can offset your losses. Long story short, “don’t put all your eggs in one basket.”
THE BEST PLATFORM TO MAXIMIZE YOUR CRYPTO PROFITS
So now that you’ve figured out how to take out loans, buy more crypto, and build your portfolio, it’s time to decide how to build your profits from there. Earlier we mentioned giving up your Bitcoin as collateral in exchange for a loan. But why limit yourself? As you keep accumulating more cryptos, you can turn around and give up Ripple, Bitcoin Cash, Litecoin etc. as collateral to take out a loan and diversify even more. However, not all crypto lending platforms let you do this.
So check out YouHodler. It is the only crypto lending platform with a wide range of cryptocurrencies to choose from (TC, XRP, ETH, LTC, BCH, BSV) and with more on the way. In addition, another advantage of this platform is the ability to receive your funds in the form of USDT almost immediately. We all know how volatile the crypto market is, so if you want to profit from a bearish or bullish market, you need your money and fast. This platform does that while giving you more options for your convenience and ultimately to your advantage.
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