THREE(3) SOLID WAYS TO PROFIT OFF A BULL OR BEAR MARKET IN THE CRYPTO SPACE

Currently, it does seem like the bull season in the crypto space is over as only a few coins have shown resistance to the bear market we are experiencing. Here are ways to still earn big while waiting for a bull run.

With the everyday introduction of new tokens and coins into the crypto space at each passing of market cycles, many of these coins end up not fulfilling their proposed plans. For some, their real world use cases never happen. For some, they(coins) just come and go without satisfying the project’s proposed real life use cases. Below are the three ways to take into profiting from the downtrend of the market.

THREE WAYS TO BENEFIT FROM THE MARKET

LENDING :

Just like the traditional way of making money in the real world by making cash available for another party who is willing to lend some from you with a promise of repaying you(the lender) the money borrowed plus interest as agreed. So it is too in the Crypto space.

Since the emergence of Decentralised Finance(DeFi) in the Crypto space, HODLERS can now provide loans for rewards.

Users now turn to Dapps platforms like Maker, Aave, compound which provide great APY on stablecoins. In 2020, we saw the rise and witnessed a larger than usual acceptance of DeFi in the blockchain space and as such, providing liquidity in return for reward tokens has also been on the rise. This is another great way to earn easily in the space regardless of the market trend we might find ourselves in.

Farming of stablecoins

Another great way to earn and not be in the wrong side of the market while HODL is to farm stablecoins either on Centralized Exchanges (CEX) or Decentralised exchanges (DEX). Farming of stablecoins is done In order to earn some yield and to be on the safer side of the market without experiencing the negatives of hodling bitcoin or other alternative coins.

Since liquidity will always be needed either in a bull or bear market in order for the DeFI protocols to continually function, the incorporation of stable coins into the blockchain space has helped the crypto market become Very much liquid. In the farming of stablecoins, one could earn upto 20% APY on platforms like Traderjoe, Beefy finance, etc.

NO LOSS TOKEN OFFERING

This medium is similar to what is known as ‘Airdrop’ in crypto space. Here, the only difference is that you are required to provide some tokens in order to earn. This are mostly requested by projects which are up and coming. They insist people or investors, provide some tokens which in turn, gets locked up and form as a part of their commitment and belief into such project. When these projects finally launch, the locked up tokens are allowed to be withdrawn when the set date for removal has been reached.

CONCLUSION

Users, traders nor Hodlers should begin to look towards the path of lending, farming stable coins or No loss Token offering as a means of escaping loss in the crypto space. Coins which are sitting idle in our various wallets, can in turn be used for things as mentioned above instead of having to worry over what the market trends are.