Investing in crypto coins promises a sure way to earn some good profits. Nowadays, there are many different types of crypto coins on the market. However, what sets crypto investors apart is the type of crypto coins you choose to invest in.
Buying and selling cryptocurrency can be tricky, especially for newbies. You'll even find experienced crypto traders and investors saying that they too face challenges. In this guide, we look at ways on how to earn crypto profits.
Keep in mind that you need to take ample time doing your research. An excellent first step is to join crypto forums online and on social media sites such as Reddit. Therein, you will find quality reference material and tips from experienced crypto traders.
Investing in Bitcoin
Bitcoin is by far the most valuable crypto coin. It was launched back in 2009. The main idea behind inventing bitcoin was to create a decentralized currency that was available in digital format. For one, it was meant to give power to the people.
If you own crypto coins, you're safe from the government freezing your assets. You are also in control of how you want to invest or use your money. Ideally, the main idea behind inventing cryptocurrencies and blockchain technology was to allow people to always be in control of their money.
If you're looking to invest in bitcoin, there are many platforms where you can do so. For example, you can opt to use exchange websites, peer-to-peer platforms, or bitcoin ATMs. Both exchange accounts and P2P websites work in an almost similar manner. In most cases, if you're new to crypto trades, we would suggest that you use an exchange account.
Besides that, you can also swap bitcoins for other crypto coins such as ethereum. Most exchange accounts allow you to buy bitcoin using your credit or debit card. The transaction rates are also cheaper. It would be best to have a crypto wallet such as Youhodler, where you can store your bitcoin or any other coin. So, how can you earn crypto with Youhodler?
Earning Interest on Bitcoin
What is Youhodler? It is a crypto wallet that allows investors to store their crypto coins safely. However, unlike other wallets, Youhodler enables users to use crypto in the right way. You also get to earn crypto interest from your investment. Putting a figure to the rate, you can earn close to 13% annually from your crypto deposit.
“Hodling” is a term used by crypto traders. It means avoiding selling your bitcoin and holding on to them as you wait for its value to skyrocket. However, this is where Youhodler steps in. Keeping your bitcoin in other wallets doesn’t earn you any interest.
When using Youhodler, you get to earn interest in bitcoin. The interest payments are made every week. Also, you can use your coins as collateral when loaning or renting items. The interest rates offered by Youhodler are well worth it.
As mentioned earlier, do adequate research before investing. Don’t rush and put all your money on crypto before you understand how it works.