How to Crypto Like the Experts

2021-3-24 16:38

Let’s face it. The cryptocurrency industry is complicated. Ranging from the sheer number of cryptocurrencies to the pace of development, a massive amount of hype, and a complete overload of information, it can be difficult to cut through the mist to get to grips with the industry. But those that do find themselves in an industry full of opportunity — which would be difficult to find in such abundance elsewhere. With that in mind, we take a look at how you can fast-track your progress and crypto like the pros in no time.

Use a Hardware-Powered Wallet

Image courtesy: Coin Wallet

As you are likely aware, most cryptocurrencies have experienced what can only be described as meteoric growth in recent months, with the average cryptocurrency gaining close to 1,000% in the last year alone. For those that use and transact with cryptocurrencies regularly, this has undoubtedly been a welcome turn of events — but many investors have found themselves struggling to balance keeping their funds accessible and liquid, with staying secure. After all, with opportunities abound, but scams also prevalent, it’s important to ensure your funds are protected.

Right now, arguably the most efficient way to do this is by using a so-called hardware-powered cryptocurrency wallet. Unlike regular hardware wallets alone — which can be cumbersome and inefficient — a hardware-powered wallet benefits from the best of both worlds, with usability and security found in equal measure.

Coin Wallet, a multi-asset cryptocurrency wallet available on mobile and desktop platforms, is currently one of the more popular ways to benefit from hardware-grade security without compromising on ease of use since it features support for the budget-friendly Yubikey security stick.  In an industry where speed and security are paramount, you’d likely struggle to find a crypto expert whale that doesn’t keep at least the bulk of their portfolio safely under the lock and key of a hardware-enabled wallet solution.

Leverage Decentralized Finance

Decentralized Finance, or DeFi for short, is the rapidly emerging catalog of financial platforms and protocols built on top of the blockchain. In the last year, these have taken the crypto world by storm, due to the advantages they provide to users and the unique capabilities of some platforms. Nowadays, close to ten percent of cryptocurrency users have interacted with at least one DeFi platform, and the number that interact with DeFi on a daily basis is growing rapidly — particularly among the high net worth and highly experienced crypto users.

The reasons behind this popularity are many, but it mostly boils down to either the potential profitability of some of these platforms, or their simple efficiency compared to traditional financial solutions. Right now, a large proportion of DeFi platforms offer ways to leverage the untapped potential of idle assets to either turn a profit or unlock some other benefit. For example, many decentralized exchanges allow users to act as liquidity providers to earn a share of the transaction fees; open lending platforms let users fill over-collateralized loans to earn a (relatively) safe yield, and liquidity mining platforms allow users to mine new tokens without paying anything — to name just a few potential DeFi avenues.

Experts are busy leveraging these platforms to their benefit, why shouldn’t you? Just be sure to do your due diligence first, as not all DeFi platforms are reputable.

How the Pros Trade Crypto

Image courtesy: Binance Academy

Right now, odds are you’ve tried your hand at trading, and it didn’t end well. At least, that’s how the story goes for around 95% of cryptocurrency traders, who end up losing more than they start with. But while it is true that the large majority of cryptocurrency traders fare poorly, it’s important to acknowledge that the 5% can make incredible profits — but only if they’re able to do what 95% of people couldn’t.

Though it may sound obvious, the major difference between successful and unsuccessful traders generally boils down to two things; the first is an understanding of cryptocurrency markets, their trends, and general structure; and the second is knowledge of the variety of markets available and their individual benefits.

Unfortunately, the vast majority of retail traders leap into the market without either — which is why most end up in the red. But it doesn’t have to be this way. By taking the time to learn your options from your futures, and your leverage from your margin, you can avoid some of the common pitfalls other traders make, and potentially join the 5% that strike it big trading.

There are a number of platforms to help you find your trading-legs before you dive in, including NewsCrypto and Binance Academy — both of which provide a range of free tutorials to set you on your way.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

 

 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Vice Industry Token (VIT) на Currencies.ru

$ 9.59E-5 (+0.36%)
Объем 24H $8
Изменеия 24h: 0.01 %, 7d: -71.49 %
Cегодня L: $9.59E-5 - H: $9.59E-5
Капитализация $276.56k Rank 99999
Доступно / Всего 2.884b VIT

industry complete overload information amount hype through

industry complete → Результатов: 79


Congressman Brad Sherman calls for a complete ban on cryptocurrency, says Bitcoin only facilitates “nefarious transactions”

Congressman Brad Sherman, a vocal critic of the crypto industry, again called for a complete ban on cryptocurrencies. Sherman said Bitcoin had no real use other than to fund illicit activities and warned about the risks cryptocurrencies pose to the political and financial stability in the U.

2019-7-20 21:44


4 Crucial Signs Indicating Coinexos is a Potential Cloud Mining Scam

Even though it would appear the cloud mining industry has all but disappeared in recent years. Considering how most companies are complete scams, that is not unlikely either. It would appear one new company is trying to make a name for itself, albeit there are plenty of warning signs to show this is a potential […] The post 4 Crucial Signs Indicating Coinexos is a Potential Cloud Mining Scam appeared first on NullTX.

2019-6-23 23:00


Фото:

Facebook’s Crypto Project Gets Major Backing from Dozens of Industry Heavyweights

Cryptocurrency media outlet The Block on June 14, 2019, revealed the complete list of stakeholders of Facebook’s high-profile digital currency project. Heavyweights Behind the Libra Project According to the report, a number of corporate titans from various industries are part of the governing association of Facebook’s cryptocurrency.

2019-6-15 13:00


Bank of Japan, European Central Bank complete phase three of cross-border payments testing

Information processing has changed drastically, ever since the inception of the Internet. However, the payment industry has not. It has remained the same, slow, tedious and time-consuming. Unlike data, payment doesn’t flow seamlessly owing to various factors such as the fact that every country has a centralized ledger which is not linked to other countries.

2019-6-5 15:30


Sportcash One ICO

Our project is a Platform for the Sports Industry with safe transactions secured by a blockchain system. Our project will be built on the Waves Platform, will be named Sportcash One, and we will be using 2 tokens, an SCOne Utility Token to purchase real world and digital goods directly through the platform and a Diamond Token that will reward our users for promoting, using and sharing our token economy and social media platform.

2019-3-28 10:35


NeuralTrade Network ICO

Most people are desperately seeking financial freedom in their life. Sadly financial freedom remains a dream to them or an elusive theory that forever escapes them. The biggest problem around financial freedom is some magic formula or some secret success model that they believe exists, they spend an endless amount of time, effort and even resources in obtaining this magic formula or the secret success model.

2019-2-15 22:51


Фото:

Bitcoin Mining Getting More Decentralized As Bitmain Loses Dominance

Bitcoin mining has become so decentralized that six transaction confirmations now provide “complete protection” against double spending. Data: Mining Monopolies Dwindling That was the conclusion drawn among social media commentators analyzing the latest statistics about the Bitcoin mining industry, which as of January 16 showed no single pool controlling more than 11.

2019-1-18 20:00


XRP/USD, BTC/USD Price Analysis: Ripple Bullish as Bitcoin Steady above $6,000

Latest Bitcoin News As the industry grow, regulation is important even if Bitcoin and other blockchain projects agitate for complete decentralization and decoupling from government influence. But when reality sets in and advocates realize that the industry can’t get away with fiat if liquidity and volatility is to reign then the importance of Business Growth.

2018-11-10 05:15


Фото:

Stackr: The Dawn of a Digital Asset Savings Solution - [BTC Media Sponsor]

Financial savings have long been the foundation of wealth and asset building. However, we are now in a time when the growing obsolescence of financial institutions has forced certain technologies out of date, created high fees, revealed structural inefficiencies and, ultimately, meant that some standard investment solutions now fail to place consumer needs first.

2018-10-6 16:37