12-14-2021, 02:47 PM
The crypto market is a wonderfully efficient mechanism for transferring wealth from
<!-- SC_OFF --><div class="md"><p>A lot of people come to the crypto market to “get rich quickly”. And although it’s possible (if you buy and sell a meme coin at the right time) I would argue most people will not get that lucky.</p> <p>The good news is that much more people could make a lot of money in the crypto market by just being patient. Here are a couple of tips to achieve just that:</p> <ol> <li><p>Find a crypto project who’s value you believe in for the long term (10 years or more). Ask yourself: will this coin still be useful in ten years? Understand in what you are investing. </p></li> <li><p>Invest money you can afford to lose or at least money you won’t need in the short term (5 years min) so that you are not forced to sell in a potential crypto winter.</p></li> <li><p>Favor Cryptos that allow staking with decent APY. And stake them for as long as you hodl them.</p></li> <li><p>Since you are in for the long run, become your own bank and understand how to manage your private keys safely. Avoid the exchange failure risk.</p></li> <li><p>Be patient, buy more during crypto winter or big dips and enjoy the bull market or pumps. Remember if the past is any indication cycles are driven by Bitcoin halvings and last 5 years or more.</p></li> <li><p>If you need money in the future consider borrowing against your cryptos (Coinbase offers that option already) so you don’t have to sell them. This avoids a taxable event and allows you to continue benefiting from your average annual growth and staking rewards. This is called a Lombard loan and this is how the rich get super rich.</p></li> </ol> <p>I would argue if you invest in the right cryptos the best time to sell them will be never. </p> <p>Good luck everyone!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/wiptheman"> /u/wiptheman </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg0b0r/the_crypto_market_is_a_wonderfully_efficient/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg0b0r/the_crypto_market_is_a_wonderfully_efficient/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>A lot of people come to the crypto market to “get rich quickly”. And although it’s possible (if you buy and sell a meme coin at the right time) I would argue most people will not get that lucky.</p> <p>The good news is that much more people could make a lot of money in the crypto market by just being patient. Here are a couple of tips to achieve just that:</p> <ol> <li><p>Find a crypto project who’s value you believe in for the long term (10 years or more). Ask yourself: will this coin still be useful in ten years? Understand in what you are investing. </p></li> <li><p>Invest money you can afford to lose or at least money you won’t need in the short term (5 years min) so that you are not forced to sell in a potential crypto winter.</p></li> <li><p>Favor Cryptos that allow staking with decent APY. And stake them for as long as you hodl them.</p></li> <li><p>Since you are in for the long run, become your own bank and understand how to manage your private keys safely. Avoid the exchange failure risk.</p></li> <li><p>Be patient, buy more during crypto winter or big dips and enjoy the bull market or pumps. Remember if the past is any indication cycles are driven by Bitcoin halvings and last 5 years or more.</p></li> <li><p>If you need money in the future consider borrowing against your cryptos (Coinbase offers that option already) so you don’t have to sell them. This avoids a taxable event and allows you to continue benefiting from your average annual growth and staking rewards. This is called a Lombard loan and this is how the rich get super rich.</p></li> </ol> <p>I would argue if you invest in the right cryptos the best time to sell them will be never. </p> <p>Good luck everyone!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/wiptheman"> /u/wiptheman </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg0b0r/the_crypto_market_is_a_wonderfully_efficient/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rg0b0r/the_crypto_market_is_a_wonderfully_efficient/">[comments]</a></span>Kind Regards R