This article explains the advantages, disadvantages, and whether it is profitable to hold the virtual currency Bitcoin for a long time and neglect it. When it comes to Bitcoin investing, you may have the impression that it is difficult to win unless you learn difficult chart analysis. However, it is said that you can easily win with Bitcoin if you ignore it. Long-term holding may be the shortcut to victory.
Bitcoin is a key currency
Bitcoin is a key currency. Just having it is valuable. 10,000 yen could become 100,000 yen in 10 years. It is easy to hold in Japan and can be invested in Japanese yen. Please note that there is no 100% investment, so there is a risk of loss. However, if you can earn money through savings, it is a very good investment. We recommend that you hold a small amount. It is attractive because you can order it online. There are people all over the world who are making considerable profits depending on their purpose. There are people who are making a living from at least this alone.
Can you make money with bitcoin?
Bitcoin is said to be profitable even if you ditch it. It is said that this is because Bitcoin is a key currency, so it will not end with a big crash. Of course, it is necessary to aim for the timing when the long-term holding starts as much as possible. Here are some ways to increase it while ditching it: The profit margin is said to be 2% to 3%. Therefore, it is also better than depositing it in the bank.
Long-term holding
The most common is long. Buy when the price is low. Groups and exchanges that offer it both domestically and overseas always have futures and spot. Look for when the price is low and hold in the hope of a price increase. Aim for profit by continuing to hold for several years rather than short-term. Invest with an eye to the future while watching the news. Look at the list of official sales, check the reputation and word of mouth, etc., keep costs down, and choose the type. There are an increasing number of services that can transfer money using blockchain, so I recommend it. Management is highly efficient and profitable. There are currently more services that allow you to earn money by lending, so it is one of the means.
Choosing the right brand is important
Basic major currencies such as Ethereum and Ripple are good, but the price range is small. Because they are stable, the average price fluctuation is small overall. It is grass coins that simply rise and fall in a lump. Consider which one is best when looking for these and invest. For details, it is best to decide by looking at the market capitalization and regular half-life at the time of exchanging the product. Spot trading is not the only way to make a profit in the shortest time. At least when participating, there are many things to consider, such as the important network environment and market price.
Lending
Lending is a system in which you lend virtual currency to someone and earn interest during the lending period. There is no need for difficult technical analysis as the system allows you to earn yield income while leaving the virtual currency alone and waiting for the price to rise. However, lending services sometimes charge a fee once you deposit coins, and you cannot withdraw your coins for a certain period of time, which is a big risk. It cannot be easily sold, so it is necessary to invest in anticipation of future prospects and value. There are some exchanges where you can deposit from around 500 yen, so this is a good point.
staking
Staking is a system that allows you to earn yield income as a reward by depositing new funds. Since virtual currencies that use POS can be deposited, Bitcoin that uses POW cannot be deposited. In the case of staking, there is also a lock period. Although the security is high, the premise is that no withdrawals can be made during the lock period, so if the situation crashes at this time, it will affect you and result in a loss. You can invest even with a small amount, but it is important to check for cheap coins when choosing.
Advantages and disadvantages of long-term holding
The following are the advantages and disadvantages of holding Bitcoin for a long time. Please note that you can make savings investments from the app, but there is a risk of hacking depending on the security of the exchange, so be sure to check the official website as well. Profit will automatically occur every month, but even if you buy the currency now, you will lose money if the target stock falls later. If you don’t have the knowledge to predict the future, you’ll have a hard time.
high price grab
It is not recommended to start holding Bitcoin for a long time when the price has increased significantly. As for timing, it would be best to play the game when the market has calmed down once the market crash has occurred. If you want to see more, we recommend that you start holding after confirming that the stock has turned from declining to rising on a daily or weekly level. The trick is to check the latest fluctuating market prices every day over the long term, but it is a good time to do so when you think you can make the most profit.
don’t look at the chart
When it comes to virtual currency day trading in financial services, you have to constantly watch the charts. However, when it comes to long-term trading or holding, there is little need to worry because there is no need for individuals to take the trouble of looking at the charts in detail and frequently every day. Since it is a listed coin, there is no need to watch price movements, and it is enough to leave it alone for a few months or more. Therefore, it has the great advantage of being less stressful. It is best to check the latest information once a day.
Small investment OK
Basic Bitcoin is in high demand, but because of the intense 24-hour price movements, many people start with a small investment. In other words, even if you don’t have much money, you can make a profit by holding it for a long time. It is recommended to start with a small amount so that you can take appropriate risks. Although you may experience some ups and downs depending on the move, if you have the opportunity, it can be a chance to earn money on your own. There are also ways to increase the amount depending on the development. However, in asset management, loss cutting may be necessary in some cases.
hacking risk
Cryptocurrency exchanges have been hacked many times in the past. If you leave it on the exchange for a long time, the risk of hacking will increase. Since the cryptocurrency market is a growing industry, the rewards for hackers are huge. North Korea has trained hackers and started hacking on a national scale, and there are exchanges that are actually being damaged.
loss
Long-term holding does not guarantee 100% profitability. When holding for a long time, there is a certain lock period, so you cannot withdraw during this period. Since there is a possibility that a crash will occur during this time, there is also the possibility that it will become a village. Also, if you hold it for a long time, if you withdraw it in a short period of time, the interest rate will be low, so it will not be very tasty.
Exchange goes bankrupt
Some virtual currency exchanges go bankrupt due to users leaving. As with hacking, the exchange itself may not be able to operate if it loses the trust of its users. You need to choose a reliable and well-known exchange.
Open an account
In order to actually start investing, you must first open an account. MEXC allows you to open an account for free, so you can easily open an account. The article below explains how to open an account, so please refer to it.
Top exchanges in the world
MEXC is a popular exchange and one of the top exchanges in the rankings. It is characterized by the largest number of stocks that can be bought and sold, and the spread is narrow, so it is recommended even for first-time users. It is suitable for savings and FX compared to bitflyer, DMM Bitcoin, coincheck, coinbase, binance, etc. You can also download your transaction history, which is very convenient when you need to file taxes or final tax returns. The leverage is high, so you can make money even with a small amount.
Many deposit and withdrawal methods available
There are a wide variety of deposit and withdrawal methods and settings, and the company’s rules also support legal currencies such as credit cards and bank accounts, so you can rest assured. Users can make payments and withdraw money at any time, 365 days a year. This is an exchange suitable for Gachiho. Investors may be concerned about the various costs of financial products when choosing an exchange, but we recommend it because the fees are very low. We have obtained a license from the Financial Services Agency in advance, so the content is safe. There is also support.
We also have security measures
MEXC, a major company, also has security measures in place, so you can rest assured. The wallet operation is also closely monitored by the merchant, so the risk of hacking is extremely low. Basically, there is two-step authentication, so the measures are the most robust in the industry. We will be posting information on a regular basis through the media, so be sure to check that out as well.
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