How To Make Profit From Crypto Currencies Without Prior Experience

Crypto Blueprint: How To Make Profit From Crypto Currencies As A Savvy Investor Without Prior Experience

Making Crypto Millionaires

Let’s begin by investigating how crypto millionaires are created. For a start, you should first create a portfolio that you want to hold for a long time before considering trading. If you look at people like Warren Buffet, Georges Soros, Elon Musk, Mark Cuban, and all these other people for example, they are all buy cryptocurrencies and hold them for a very long time. Consider the commonly-used crypto term, “HODL” which is short for “Hold On for Dear Life”. Never do they sell, but keep their crypto for a long time and allow the earnings to rise. And if you hold them for a long period, time makes them (i.e. cryptocurrencies) a new profit. Imagine if a cryptocurrency coin may increase by 10% or 25% in a single week. However, if you hold it for five years, it may increase by 500%. The longer you hold it, the larger the growth becomes.

Crypto operates in this manner. And if you look at the huge firms and billionaires that are investing in cryptocurrencies, they don’t start out trading futures or using leverage. They purchase and hold. Naturally, you need to have a second portfolio that you can/should use for trading, as do probably all of these individuals. However, like everyone else, you should be holding onto your largest portfolio because over the long run, it will be much more profitable than simply buying and selling.

Which Coins Are Good To HODL?

You May Be Wondering? Naturally, there are Bitcoin, Ethereum, and Ethereum Classic. Ethereum 2.0, Polygon, Cardano, Chainlink, Litecoin, and Vechain will all be available soon.

All of these coins are useful and will endure for a very long time. These are the key coins we advise you to purchase if you want to hold a portfolio because they are expected to experience significant growth over time. But maybe most significantly, these coins won’t vanish as soon as a marginally better market materializes. These coins will therefore last a long period because of their utility. And most importantly, if you’re holding, you should only invest what you can afford. And we recommend that you wait at least five years before withdrawing any money. You’ll generate large money in this manner. This is the reason it’s crucial to only invest money that you can afford. Let’s wait the next five years to start. The nice thing about cryptocurrency is that you can make incremental purchases over time. And over time, this adds up and generates substantial earnings for you.

Panic Selling: The Profit-Eating Practise

Currently, if there is anything most of us are all guilty of and have engaged in in the past, it is panic selling. Now, keep in mind that if you choose not to sell your coins, you cannot lose any money. This is why. The quantity of coins you have is more important than the value of the coins, which can fluctuate. Therefore, if you don’t sell your 100 coins today, you’ll still have 100 coins next month, next year, and next ten years from now. Therefore, as long as you invest in coins that have utility and are here to stay, such as Bitcoin and Ethereum, you’ll never lose money as long as you wait for the price to increase before thinking about cashing out. There are several coins that will endure.

And the only way you might lose money is if you sell for less than you first paid for it. Therefore, you would undoubtedly lose money if you bought here and then sold there after the price dropped. However, if you simply wait, the price will increase again because what increases must inevitably decrease and vice versa. Simply wait patiently for the price to increase to the level at which you wish to sell it and can make a profit. People who engage in panic selling, in my opinion, are those who are unable to pay back their investments. If you’re in it for the long haul, it doesn’t matter if you wait a week, a month, or a year for the price to increase again if you can’t afford to let the cash flow vary.

A crypto expert is quoted saying:

No matter what I see on YouTube or in social media, I no longer panic sell. I’ve known for a very long time that once something is finished, it will ultimately go back up.

– Dualine Greg

Therefore, all you have to do is wait patiently when you notice costs decreasing, just like I did. And as prices decline, it’s certainly a wonderful time to buy on the cheap.

Hype, Market Manipulation, and Fud

Let’s now discuss hype and market manipulation. Never pay attention to market manipulation, whether it comes from the news, social media, or whales attempting to take your cryptocurrency. You’ll note that there are occasionally large dips, like enormous dips that are unusual, and this is what we mean. Well, the majority of the time it’s because cryptocurrency was mentioned negatively in the news or on social media. The market may also have been manipulated by some elements who wants to drive down the price of cryptocurrency so they may purchase it for less money. Since the majority of investors place their money on Bitcoin, a lot of market manipulation now takes place through this platform.

Since there will only ever be 21 million Bitcoin, there is currently a scarcity, which is why they are manipulating the price of Bitcoin. Therefore, they must induce panicky sales in order to buy large quantities of the coin. Thus, it stands to reason that the majority of people panic sell when they witness a sharp decline in the value of their coins. Therefore, it’s crucial for you to overlook dips and refrain from selling your coins since the price is falling. Because market manipulation is typically to blame for such large dips. Now, if you’re a long-term holder, you won’t be impacted by this. Time will increase your wealth. So, if you want to hold for five years, it doesn’t matter what occurs this week or next week, right?

For the above reasons, you are strongly encouraged to ignore the fud at all costs. Always overlook those large dips. Of course, you should buy when there are significant drops like that. Remember that when there are dips like that, these huge whales buy because they are confident that if they purchase it at a cheaper price, it will eventually increase, allowing them to profit. And you ought to follow suit. However, my objective is to not panic sell when you notice significant declines. Never take market manipulation seriously. Now, if you engage in day trading, large dips like that could have an impact on you. You won’t be impacted, though, as you’re the long-term holder. It will merely present you with options to purchase items at a discount.

That’s all there is to it. Additionally, there will always be market manipulation. However, in our opinion, when it does, it gives you the chance to acquire something for less.

Purchasing The Dips

Now, the majority of individuals make the same mistake and invest in cryptocurrencies when they are in high demand and at exorbitant costs. But consider that for a moment. When prices are really high, goods inevitably decline. So, as earlier mentioned, the majority of people buy when the price is greatest, they eventually see their coins’ value decline, and then panic-sell. That’s when folks suffer financial loss. Because the only time you can truly lose money is when you sell. Therefore, the optimal time to buy is when there is a drop in the market or when prices are falling. Now, it’s not a terrible omen when things go worse. You ought to consider it a savings. Then, you may purchase items for less money. Therefore, it is always advisable to purchase the dip.

Let’s imagine you have some money to invest this week, next week, and the week after that. In such case, all you have to do is watch for drops. So, let’s say there’s a dip right here and you buy, eventually it’s gonna go back up. Now you’re going to say, “Yeah, look a little bit more closely here.” It descended again. Yeah.

I believe that’s how crypto works. It rises and falls.

– Dualine Greg

Therefore, what falls must rise again. However, the compounding will only occur if you buy the dips consistently or as much as you can. So, assume you purchased the dip from us. The dip was purchased here. You purchased the dip here, here, and here three times.

Right? So, when it rises to, say $65,000 and beyond, all of the dips you purchased will be profitable. Now, if you only buy when the prices are high and you wait for sure, it’s gonna go back down, it’s always normal that when it reaches a certain high that the price goes back down. We refer to that as a rectification. Once the correction has been made, the price will either increase or decrease. And that still holds true for trading or long-term holding. If you buy the dip and you trade, you sell when it goes back higher to what you purchased for, then you make a profit. Therefore, whether you’re trading or holding investments for the long run, always purchase the drop.

Never buy when the prices are high or at their highest, we could say. So, for some crypto investors, they buy when they see lots of red. We know this seems counter-intuitive, but this is what big investors do and they do it on purpose sometimes to even crash the market so that they could buy for cheaper. So, if you want to make money like the big players do, you gotta think the same way. So always buy the dip, never buy when the prices are going up.

Conclusion

You can increase your chances of success with cryptocurrency by paying attention to these pointers. Keep in mind that learning new things and trying new things is the best approach to improve your performance over time.