By Japhet Kapambwe Mesa
Hi all,
Today I want to talk a little about how you can grow your investment in bitcoin. I will look at buying and holding (HODL) and also look at some investment platforms.
Hodl is a pretty safe strategy if you're risk averse. It is secure. You buy your bitcoin from an exchange like cex.io or livecoin.net and you keep it in your wallet (not on the exchange). The bitcoin is fully yours as long as you have it in your wallet. Normally, the overall value of your bitcoin will grow over time despite the fluctuations. Now, what happens when the price of bitcoin falls extremely low such that even a rebound doesn't take you as high as the price at which you bought it for? Let's consider that you bought bitcoin when it was worth $20,000 and then it fell all the way to $5,000 per BTC. In this case even if it rebounded to $10,000 you'd still be in the red.
In comes the second strategy - investing. Four months ago I'd have talked about bitconnect and USI tech. Sadly, bitconnect has since shut down and USI has made some drastic changes to their platform in the last month or so, I'm still trying to figure it all out although I am still using it. Basically what these platforms do is borrow your bitcoin and offer to pay you back on a daily basis. Bitconnect and usi offer(ed) between 0.75 and 1.5% a day for 140 days. On average you'd get your back after 100 days. The rest (40%) would be profit.
Another similar platform, which I'd strongly recommend, is hashflare (please use this link to sign up). Hashflare also let's you lend bitcoin for a daily payout. Comparably, the payouts are more for USI than hashflare which is at 0.5% per day. However, what I like the most about hashflare is that i can buy for as little as $1.2 worth unlike USI which has a fixed price of about $65.
A feature that both platforms have is that of rebuying or reinvesting. This option compounds your earnings and thereby increasing your returns. You can setup your portfolio such that it rebuys a package every time you reach the required minimum. Great strategy.
So, instead of letting your sit pretty in your wallet why not put it into some platform that will give you more returns. That way you'll earn from the upwards trend of the bitcoin price as well as from the platform. Ultimately, a combination of strategies is best. In addition you may want to use two or three different at the same time as a way hedging your funds against possible shutdowns.
Word of caution though. These investment platforms are prone to getting shutdown and hacks. Therefore remember two critical things:
1. Due diligence. Do your own research (DYOR) before diving in.
2. DO NOT INVEST MORE THAN YOU ARE ABLE OR CAN AFFORD TO LOSE.
Thank you for taking time to read. Your friend in Crypto.
Love, peace, humanity.
P.S: Full disclosure - Most of the higlighted links are referral links to another community member's account on the various platforms. A referral works such that when you sign up under someones ref link they will be paid a percentage of your transaction. However, these payments do not affect your transaction value. New members will be linked to older members. This will help us all grow together as we continue to transact.
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