When the investor is investing their money in crypto currency, they must know the strategy to maximize their crypto profit because crypto currency is volatile in nature. Even the experienced crypto traders must know which the best time to buy is and best time to sell crypto currency. There are various factors which investors should consider when they want to sell their crypto currency and after selling, how they can maximize their crypto profit. Keep in mind that there is no surety to win the crypto market, hence it is always been recommended HODL with DCA investment strategy for long term investment.
Most importantly, when you want to sell your crypto then you should focus on optimal gains. You should start taking the gains in the 30% incremental range and do not wait for a 50% or 100% incremental gain. Because if you focus on smaller increase, then you will not be hit by the rapidly changing crypto market. And with these gains, you can purchase other coins whose prices are increasing. Through this way, you will get maximum earnings in your portfolio. It is advised, you should sell your crypto currency when you have other investment opportunity. Also you must remember, when selling your crypto currency you should not fall for FOMO (fear of missing out) or FUD (fear, uncertainty, and doubt). In this blog, you will read how to maximize your crypto profit.
Method To Maximize Your Crypto Profit:
- Sell in Small Amount: To maximize your gains, you should sell 5-10% at a time according to your particular crypto holding. If you find that your crypto has gained about 30% when you bought it, then you should start selling your crypto in small percentage every week because crypto market is volatile. It is advised you should not sell all your crypto holding at a time. You should only sell your holding, when you are satisfied with its selling price because might be you miss the future potential gains.
- Investors should keep their Crypto Profits in Fiat Reserve-backed Stablecoins: When you take out your crypto profit, you should keep the profit in a fiat reserve-backed stablecoin. Through this way, you can gain interest by providing liquidity in DeFi projects. And also you will gain profit through trusted stablecoin. Along with that, the investors can easily purchase other coins with stablecoins.
- Maximize Crypto Profit Through Buying and Selling Crypto: Investors should follow the strategy of trading crypto currency. Like, when investor find that the value of particular crypto is increasing then they should sell a portion of their crypto holding. And after that use crypto profit to buy other coins whose price has dropped.
- Earn Interest: Investor can maximize their profit, by staking crypto and can earn interest out of it. They can also earn interest on investing on other products on Binance.
- Investing In New Coins: There are some traders who earn profit by investing in new coin. With this new coin, they earn high rewards. For purchasing, you should build crypto portfolio with Binance as they take low fees. To purchase, you should fund your account and then buy through user account or you can also buy with debit and credit card.
Through this way, you can maximize your crypto profit. To know more about crypto currency, you can read our other blogs.