The internet is awash with crypto success stories. Mostly they involve individuals that got into certain projects like Bitcoin or Ethereum early and found themselves super-rich after a few years when the value of these projects grew tremendously. Currently, crypto is the most profitable market due to a combination of many factors. Lack of regulation, continued innovation, increased interest among the general population, and a few other factors have all conspired to make digital assets highly valuable. Once you discover this, the next question is how you can get involved?
You can either opt to invest or trade. The former involves taking your savings or salary and putting it into a given project. It’s a long-term strategy to profit from crypto and requires a lot of patience, and you have to believe in the project you are putting your money into. Some individuals might feel they are late getting into prominent projects such as Bitcoin. Priced at almost $50,000, not many can afford a whole coin. The same goes for Ethereum, where one coin costs about $4,000. However, you can buy fractions of these coins and enjoy whatever returns they record. But this requires time, as mentioned early. Also, it suits people with money to spend and the ability to wait for long periods to see the gains.
How To Succeed Fast
What option does a guy with $100 or $200 have in this market? Does it mean they can not participate in crypto and make decent returns from the market? Trading is the answer for this individual. It might require some time and effort from your side to master the craft; however, once you nail it, you can grow your wealth tremendously by taking advantage of the many opportunities presented by crypto markets. Time and dedication are required to master trading.
You can invest in a reputable trading course that will teach you everything you need to know or use free resources online, but this might take longer. You might be lucky to land on platforms such that allow you to imitate expert traders and share their success. If you found yourself using such a platform, would you be ok to copy trade?
That answer lies with you. However, everybody desires to find the easiest way to get something done. If you find a reputable platform like PrimeXBT that allows you to copy trading strategies from experts and share their success, why not take advantage of it. Even though it’s possible to invest using $100 or $200, you will have to wait for a long time before you can double it, for example. Investing is for people with disposable income since they are the only ones that can have the patience to see their money grow. For a guy who needs to turn the $100 to $1000 quickly, you have to go the trading way. And brokers such as PrimeXBT will allow you to achieve this goal.
Difference Between Spot And Derivative Markets
You can trade on spot markets where you buy an asset and wait for it to rise in price before selling and keeping the profit, then repeating the process. However, this can also take a while since sometimes the asset’s price can drop after you buy, and you have to wait for weeks or even months before the price returns to a profitable position before you get rid of it. This isn’t ideal for someone that needs to grow their account fast.
The only option they have is engaging with derivatives markets. This allows one to borrow money from the platform and trade with larger capital, thus multiplying your returns. Also, you can make money if the market is going up or down, and you don’t have to deal with the actual asset. However, as fast as you can increase your money, you can lose it; therefore, it helps to learn how to trade these markets by conducting technical and fundamental analysis and learning risk management. If you put in the work, you can expect to master the craft and grow your trading account as quickly as possible.