So I am pretty sure you have all heard of the BTC-Bitcoins and various other cryptocurrencies on everyone’s mouth. So how do you profit from all this talk ? Well several ways actually :
- If you have the capital and the technical know-how – you could start by buying and assembling your own cryptocurrency mining rig. In other words, it’s a customized computer to mine bitcoin. But keep in mind that besides the capital (a serious machine capable of yielding USD 500 nett a month for instance in profits would set you back about USD 7000 to USD 10000 in terms hardware and setup costs). You would also need to have some technical know-how as to how to assemble the hardware as they are often sold in various components and you’d have to figure out how to assemble and put it together yourself. Besides that you will also have to be faily proficient in hash-rate (i.e. the difficulty or efficiency in mining the various cryptocurrencies) and tinker your machine accordingly. In other words, it may be more cost effective to mine Ether (another type of cryptocurrency) this week vs. Bitcoin last week.
- You could also ‘invest’ in bitcoins, by buying and holding them for a period of time and hopefully manage to get the timing right by buying low and selling high, instead of the other way around. Unfortunately, most people got sucked into the bitcoin and cryptocurrency mania at the later stage and are mostly holding crypto assets that are underwater as of now. Bitcoin was trading at more than USD 19,000 just a few months ago, it was trading close to USD 6700 last as you can see in the video below.
- Trade in Bitcoins and other cryptocurrencies. The volatile nature of bitcoins and cryptocurrencies are a gold-mine to those who can see the potential in them. Typically more volatility means that much more opportunities to day trade the asset or instrument, as it creates numerous opportunities to buy and sell at various price entry-points. This is by far my favorite strategy to capitalize on the crypto mania. My favorite cryptocurrency to trade has been by far BTC or Bitcoins.
I have just made a 3-part video to document how I just made USD 170 in trading Bitcoins is over an hour on April 5, 2018. Watch them below. I trade exclusively on IQ Option and if you wish to emulate my trades, you could sign up HERE for a FREE account.
PART 1 : Initiation of the Bitcoin (BTC) Buy Trade
Part 2 : Doubling down on the Bitcoin (BTC) Buy Trade
Part 3 : Divesting the trade and booking the profit (The fun part!)
So that’s it for now, as you can see trading in cryptocurrencies and booking real profits is very much possible as long as you have a certain amount of technical analysis knowledge and trading experience. The strategies I employed to do the above trades are all found in this exclusive crypto e-book you can find HERE
If you wish to trade on cryptocurrencies you can do so HERE
Good luck !