Bitcoin is still the number one crypto in the industry but the market is changing. No longer does a good or bad day for Bitcoin mean a good or bad day for the entire market. As other cryptos gain popularity, there are more chances to make a profit than ever before. So what’s the best way to maximize your crypto profits? There are many investment secrets out there but here’s one you should consider.
MAXIMIZE CRYPTO PROFITS: DIVERSIFICATION
The telltale saying of “diversify your assets” still rings true. As already mentioned, Bitcoin is not the only crypto worth having anymore. You can’t put all your money into BTC and expect to maximize your crypto profits. Instead, you need to diversify. A healthy portfolio 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 cash?
TAKE A LOAN TO MAXIMIZE CRYPTO PROFIT
Let’s say a year or two ago, you were obsessed with Bitcoin. You thought the bull run would never end, so you bought up as much as possible. Well now, the climate is different. Bitcoin is struggling to grow while new altcoins are taking off. How due you profit on that? One option is to take out a crypto backed loan.
There are a few different crypto lending platforms out there that will take your bitcoin as collateral, giving you cash in return. With this cash, you can turn around and buy more crypto to diversify your portfolio. Then, when the market turns bearish, you won’t be completely broke if Bitcoin plummets. Sure, maybe 2 or 3 cryptos will have a bad day but if you spread out your ivnestments properly, then other cryptos that are 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 discovered how to take out loans, buy more crypto and build up your portfolio, it’s time to decide how to build off your profits from there. Earlier, we mentioned giving up your Bitcoin for collateral in exchange for a loan. But why limit yourself? As you keep collecting more cryptos, you can turn around and give up Ripple, Bitcoin Cash, Litecoin etc. for collateral to take a loan and diversify even more. However, not all crypto lending platforms let you do this.
For this reason, check out YouHodler. It’s the only crypto lending platform that has a wide array of cryptocurrencies to choose from (TC, XRP, ETH, LTC, BCH, BSV) and with even more on the way. On top of that, another advantage of this platform is the ability to receive your cash in the form of USDT nearly instantly. We all know how volatile the crypto market is so if you want to take advantage of a bearish or bullish market, you need your cash and need it fast. This platform does that while offering you more options for your convenience and ultimately, for your benefit.