Bitcoin is still the number one crypto in the industry, but the market is changing. A good or bad day for bitcoin no longer means a good or bad day for the entire market. As other cryptos gain popularity, there are more chances to make profits than ever before. So, what's the best way to maximize your profits in crypto-currencies? There are many investment secrets, but here is one you should consider.
MAXIMIZING CRYPTO PROFITS: DIVERSIFICATION
The telling saying "diversify your assets" still rings true. As we've mentioned before, bitcoin is no longer the only crypto worth having. You can't put all your money into BTC and expect to maximize your crypto profits. Instead, you need to diversify. A healthy portfolio today includes Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Bitcoin SV and many more. But how do you buy all this if you're short on cash?
TAKE A LOAN TO MAXIMIZE CRYPTO PROFIT.
Let's say a year or two ago, you were obsessed with bitcoin. You thought the bull run would never end, so you bought as much as you could. Today, the climate is different. Bitcoin is struggling while new altcoins are taking off. How do you take advantage of this? One option is to take out a loan backed by crypto-currencies.
There are several crypto-currency lending platforms that take your bitcoins as collateral and give you money in return. With this money, you can turn around and buy more crypto to diversify your portfolio. Then, when the market turns bearish, you won't be completely ruined if bitcoin crashes. Sure, maybe 2 or 3 cryptos will have a bad day, but if you spread your investments around properly, the other cryptos that have good days will be able to make up for your losses. In short, "don't put all your eggs in one basket".
THE BEST PLATFORM TO MAXIMIZE YOUR CRYPTO PROFITS
So, now that you've figured out how to take out loans, buy more crypto and build your portfolio, it's time to decide how to build your profits from there. Earlier, we mentioned pledging your bitcoins as collateral in exchange for a loan. But why limit yourself? As you accumulate cryptocurrencies, you can turn around and give Ripple, Bitcoin Cash, Litecoin, etc. as collateral to get a loan and diversify even more. However, not all crypto lending platforms allow you to do this.
For this reason, take a look at YouHodler. It's the only crypto lending platform that has a wide range of crypto currencies to choose from (TC, XRP, ETH, LTC, BCH, BSV) and with even more on the way. On top of that, another advantage of this platform is the ability to receive your money in the form of USDT almost instantly. We all know how volatile the crypto market is, so if you want to take advantage of a bear or bull market, you need your money and you need it fast. This platform does that while giving you more options for your convenience and ultimately your profit.