5 Easy Strategies for Beginners to Earn on Cryptocurrencies in ApolloX

5 Easy Strategies for Beginners to Earn on Cryptocurrencies in ApolloX
If you're just making your first steps on the cryptocurrencies market you may benefit using these simple strategies.

Buying and HODLing

This method might seem simple on the surface… and that’s because it is. That being said, it’s probably the safest way to trade crypto, especially if you’re relatively new to the scene.

For example, major cryptocurrencies like Bitcoin, Ethereum and Litecoin have had high value for around 18 months now. Since the bubble burst in early 2018, many hot coins have been going at bargain-basement prices. And while it’s unlikely that we will see the crazy prices from two years ago again any time soon, well-established crypto projects like the above are more or less guaranteed to appreciate with time. In many cases – if you had bought anywhere near the bottom – your investment will have already doubled by now.

Day trading cryptocurrencies

Now, if you’re more of a seasoned trader and a bit of a dab hand at Japanese candlestick charting, this could be just the ticket for you. There are numerous platforms and exchanges that support crypto day-trading, but ApolloX is probably one of the best around.

In principle, this strategy couldn’t be simpler – you buy as low as you can and sell as soon as the prices reache your target for the day. However, in practice, it can prove very tricky to predict the way in which this incredibly volatile market is going to move. Despite its high-risk nature, day trading can indeed be extremely lucrative for technical whizzes. With daily fluctuations between 20-50% being fairly commonplace in the cryptocurrency sector, the potential for stellar returns is indisputable.
5 Easy Strategies for Beginners to Earn on Cryptocurrencies in ApolloX

Medium-term trading

This method has probably been the most effective way to make consistent profits over the past year or so. Since the bubble burst in early 2018, the vast majority of coins have been trading sideways within fairly limited ranges (barring a lengthy lull at the beginning of this year). If you were able to follow a strategy of buying when you saw the currency relatively undervalued and then sold it within a period of about a month, you could make a decent regular profit over a reasonable length of time.

The key with this is not getting too greedy: you need to set yourself a target of 10-15% and then sell as soon as this level is reached. It doesn’t sound like a lot for a market that is famed for its volatility, but when you can do it safely around 4 times in just six months, you can easily manage an annual return in the order of 100%.

Cryptocurrency arbitrage

Whatever your personal opinion on truly free markets is, the fact is that the cryptocurrency market represents one of the few such examples today. And it is this very freedom from regulatory or governmental control that allows for such massive volatility and huge price variations across different exchanges.
But what if there’s a virtually risk-free way you can manipulate this system to your advantage? It’s called arbitrage and, once you know how it’s done, there are few easier ways to make money from crypto.

All you have to do is find one exchange where the price of a given coin is relatively low and then seek out another that is selling the same coin at a sizeable premium. Quite often, you will be able to find a spread of anywhere between 5-40%. Lastly, when you’re happy with your spread, simply buy the coins from the cheaper exchange and then sell them on the more expensive one. It really is that simple. Of course, any commission due will eat into your profit somewhat, but you should still make a decent return on your investment.

Holding crypto for dividends

You’ve almost certainly heard of share dividends before, but did you know that there are also certain cryptocurrencies that will pay you a passive income for just holding them? Well, there are (e.g. NEO, BTMX and KuCoin) and, what’s more, they don’t even require you to stake your coins in order to get a piece of the dividend action.

As you can see, there are lots of different ways to make money from cryptocurrencies. Some are riskier than others, though these usually come with the highest rewards. The secret is to decide for yourself what sort of return you’re looking for and how much risk you can safely assume. Once you’ve done that, all that’s left is to apply your chosen strategy and take one step closer to financial independence!
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