How To Make More Crypto Even If The Markets Are Down?
Markets have gone batshit crazy once again!
The bear is upon us as usual and as expected. It's nothing new and not happening for the last time. Bloodbath continues as Bitcoin hit its lowest price since January 2022. Most altcoins are doing even worse and they are expected to fall down even more. Everyone tells you to buy the dip but what if you don't have any money left? In this blog, we are going to explore two ways through which we can make more crypto even when the markets are down. Before moving on, you need to understand that never ever panic sell your crypto. For long-term investors, these daily ups and downs should/do not matter at all. Millionaires are made and alphas emerge during the bear markets. It's the best time to build your assets or work on a new project that you wanted to work on. Most people lose money, strength, and will to work in shitty hard times. You don't have to be one of those people. You can take action now and get immense benefits when the bull run strikes again. Sooner or later, it will so why not prepare for it now. Do one of these things to make you more crypto with your bleeding portfolio:
DeFi
In crypto, the first big thing is Bitcoin. And the next big thing is Decentralized Finance aka DeFi in short. It removes the intermediaries like banks, financial institutions, portfolio managers and the biggest thieves of all - the government. So the way you can make more crypto is by putting your money in DeFi platforms and earning anywhere from 5% to 500% yields. DeFi relies on Smart Contracts which are self-executing programs that follow the terms of the agreement. Banks waste a lot of time and restrict your access at various levels. With DeFi, you get full access from anywhere, anytime. Just need a smartphone & a decent internet connection. There are four popular ways through which you can generate Passive income from DeFi:
- Staking
- Liquidity Mining
- Yield Farming
- Lending
To know more about how each of them works, please checkout my blog that will give you a brief idea. Getting started with DeFi might be a bit overwhelming for a newbie but honestly, it's not that difficult. You can checkout PolyCUB, the next generation DeFi yield optimizer on Polygon Network. It's easy and simple to use with low gas fees. Here's a detailed guide by @mikedcrypto.
SocialFi
If you don't get DeFi then you probably know how to pass time on social media platforms. WEB2 social giants like Facebook, Instagram, and Twitter do not pay you a dime unless you have a huge following. They also share little to nothing with the creators who are doing the hardest work. SocialFi has changed the game and it's will bring the next and the biggest wave of WEB3 adoption. In simple terms, it's a crossover of Social Media and DeFi. Platforms like Hive (Peakd, LeoFinance, Ecency etc.) & DeSo (Diamond, Desofy, etc.) are one of the most popular blockchains that are producing the next generation of social apps. There are three major qualities of SocialFi platforms that make them better than WEB2 platforms:
- Content Ownership
- Censorship Free
- Monetization From Day One
If you like social media, and you want to do something you enjoy doing, then you should explore them even more. Your time is precious and you should get the share for adding value to the network. Start getting active within your favorite communities and see your pot growing by posting blogs, comments, tweets, articles, graphics & videos.
So, what are you doing during the bear markets? Do you know any other ways to make more crypto? Comment below!
Posted Using LeoFinance Beta
