Ever wanted to make extra money during a bear market? Have you given up because prices look like they are low? Well, I have some advise, suggestions and tips for you to make passive income and to possibly strength your position for the next market reversal.
Market cycles are part of life and you can still make money
Let’s say you have your hard earned money in a traditional savings account at your local or world wide bank. How much interest are you accruing? 1% APR or less, right? Quite laughable! The bankers take your deposits and make tenfold of your initial money deposited by selling the amount you have at a higher rate! So, these big wigs make great profit all while they laugh, drink their fancy cocktails and smoke the purest Cuban cigars all thanks to us…
Now, if “ you” were a bank , then you could control all those aspects, right? This leads up to cryptocurrencies and how masternodes can potentially provide revenue and ROI (return on investment). There are certain cryptocurrencies in the market that use POS (proof-of-stake) consensus, which provides incentives and allow you to earn coins! What you do with the earned profits is up to you! You can HODL them, trade them back to the open market and/or use them (assuming the crypto has dApps, platforms or use cases) without purchasing them.
Let’s explore another possibility to earn, invest and reap benefits! Have you explored great platforms and products such as: Celsius Network, COSS.io and Dropil.com? These great utility services can score you some great returns. Let’s take Celsius Network for example, you can lend your cryptos using their application (iOS or Android) and earn interest by lending.
Celsius Network pays you a return for lending your cryptocurrencies
How can Dropil.com work for you? Well, Dropil has developed automated bots to perform various types of services for you. Dex, is an automated bot that trades on your behalf without you having to stress and have any knowledge about trading.
Drop Tokens are used in our Dex System. This allows us to control the volume of assets managed by the smart trading algorithms.
Dex; the hardest working bot in the crypto space!
Think of these services as your traditional investment services, such as: 401K, brokerage systems (yes, there’s even a bot that assists with arbitraging) and stores your precious cryptocurrencies safe and securely! There are currently three bots and fourth one in development that will always work for you day and night 24/7!
Why COSS? Same reason we like ice cream, nice cars and vacations! COSS is a cryptocurrency exchange aiming to provide an all-in-one-solution. Solutions for merchants, retailers and anyone looking to become financially sound.
COSS stands for Crypto One-Stop Solution. We are your one-stop shop for all things crypto: an exchange, an e-wallet which supports a broad variety of tokens, a platform for ICO launches and promotional trading campaigns, a fiat gateway, a market cap widget, and more
My favorite feature is the FSA (Fee Split Profit), which is essential a “kick-back” — 50% of trading fees on our platform goes to all COSS token holders. Sign-up and explore the many options and features COSS has to offer!
The next think you can do is become a better trader! Sure, it’s convenient and easy to make a trade when the price is low then sell when the price moves up, but you can’t always assume the market will play ball nicely. Leveraging your power by learning how to “ short ” sell and “ swing ” trade can help you become a great trader overall and grow your assets. Learning how to read price trends, patterns and understanding technical analysis can go a long way. Not only will you become more confident in the trades you place, but you can strengthen your positions and profit with so many resources and tools at your disposal.
Lastly, the best part of a bear market (from my experience), is that it provides the opportunity to develop, learn, and network within the space. Why not join the movement and create dApps (Decentralized Applications)? There’s a plethora of platforms to build, develop and engage with. Developers and engineers can build on top of the Ethereum , TRON , Stellar and XinFin Network code base and contribute to the blockchain era and help it grow in the future. Why bother? Just research on LinkedIn or other hiring websites to see how in demand Blockchain Engineers are and starting salary rates!
With all the examples, knowledge and tips I’ve provided, you now should be able to start somewhere. Research more about masternodes (or how to mine cryptocurrencies), take advantage of applications that can put money in your pockets and pick-up a book to educate yourself about market trading during these bearish times.
If you have any comments, opinions or want to share your experiences, please contact me at firstname.lastname@example.org or leave a comment below!