What To Do During The Bear Market
Fat bear "747", from Katmai National Park
Bitcoin dropping under $30,000 and hanging there makes me think there is still room for down across the crypto markets and I think it could be September or later before we see a strong recovery.
I don't want to focus so much on prices during the bear market, but rather on accumulation for the next run up. There are several ways to continue to stack tokens or accumulate and I don't pretend to know them all.
The most obvious way is to buy in each week, with a steady amount into a good crypto you think will do well. Coinbase and other mainstream exchanges will often let you set up auto purchases and give you a small bonus for doing so. While you are there look at what they have available in the "Learn and Earn" section.
#hive is a good way to earn small amounts of Hive and power up to curate and don't forget to find your favorite tribes, mine is clearly Leo. Or test out the new HBD for a fairly safe 10% interest bonus. You do have to put the HBD into savings to get interest as I am sure you have heard.
#cubdefi for earning larger amounts of interest (currently 154%)
If you want the low maintenance plan, deposit into the Kingdoms and you can just check in once in a while to collect your rewards, much of the process is automated and continues to grow both your principle and your yields. With any high Interest rewards the risks are higher as well. Right now the inflation is keeping up with the price corrections, but can you imagine what it will be worth next time we moon?
Several exchanges including Kucoin and CoinEx will allow you to lend BTC, ETH and Stable coins for interest in about the 9% range, again with little risk.
Another way many attempt to build their crypto piles is the age old "Trading", while I do some trading, I am simply not good at it, and so I have a bias about the amount of risk it takes to trade your way into a better position.
Do you agree we are in a bear market? What is your strategy?
Posted Using LeoFinance Beta
