How to Make Money with Cryptocurrency – Stable Coins
Ever since Libra was announced, the awareness for cryptocurrency started spreading like wildfire. The news took the industry by surprise and also was a threat to some private financial sectors because Facebook has massive users. After researching about cryptocurrency and blockchain, Mark decided to attempt the development of cryptocurrency for cross border payment.
Price volatility has been the number one complaint of new cryptocurrency investors and users. They worry the money price could drop by 30% within 24 hours, which is true with some cryptocurrencies. But it’s important to note that there are basically two types of cryptocurrencies in this category.
1.Volatile cryptocurrency: volatile cryptocurrency are those cryptocurrencies whose price fluctuates frequently when buying pressure increases or decreases. Volatile cryptocurrency includes BITCOIN, ETH, EOS, DASH, XRP.
how to make money with volatile cryptocurrency:
When cryptocurrencies fluctuate, they set new highs and lows, sometimes they go sideways with a consistently high and low range. Bitcoin as an example has been fluctuating between $8300 and $10,000 within the past few months. This fluctuation is one sure way of making income.
As a trader, if you understand the price flow of any cryptocurrency (BITCOIN), it will be to take profit because the rule is “BUY LOW AND SELL HIGH”. you can conveniently do this on CoinCola with bitcoin and other cryptocurrencies listed on CoinCola exchange.
On CoinCola, there are two market/trading pairs. So you could set a sell order to sell your EOS straight to USDT, so as to maintain the gains made.
these are cryptocurrencies that were designed to maintain a price of $1. On CoinCola, there are two stable coins that are stable (USD and GUSD).
how to make money with non-volatile cryptocurrency:
There are several ways to make money with stable coins, but we’ll mention 2 today.
- For cross border payment:most of the popular regular ways of making cross border payment charge as much as 10%-20% of the total total amount being sent. With stable coins on CoinCola, you can save a lot of money by making cross border payments with USDT & USDT.
- Holding some stable coin: holding some stable coin could also be a good strategy for making money with cryptocurrencies as it helps you quickly buy volatile cryptocurrencies when the market is down. Currently bitcoin is down to $8300+, if you had stable coins already, it will be very easy to buy the low price by either setting a buy order that will execute automatically when the price range is reached or you could buy manually.
Please note that the ideas written in this article are not a piece of financial advice. Do make sure to seek guidance from cryptocurrency experts or join coincola academy.
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