Since the Bitcoin halving in April this year, the calls for the bull market to come have become increasingly loud, but as time has passed, Bitcoin, which is positively correlated with the arrival of the bull market, has not broken through its historical high and has been hovering between $40,000 and $70,000. After the US election was over, Trump returned to the White House, and Bitcoin began to rise all the way, constantly breaking historical positions, and finally officially stood at $100,000 on 12/5! It's really a universal celebration, congratulations.
And the bull market is here, the outsiders who originally held a wait-and-see attitude are a bit eager to try, after all, the bandwagon is right in front of them, and it seems that not getting on this bull market will let down the money in the wallet. But where to start? How to profit, is there a relatively safe and stable method to try the water first? Don't worry, here it comes! Now I'll tell you how new players should buy and sell spot and use relatively stable profit-making methods in the bull market! Get your mobile or desktop ready, let's get started!
Friendly reminder, if you want to trade in the crypto market, the first thing you need is a trading account, then convert your New Taiwan Dollars to stablecoins and transfer them to the trading account, we've prepared a lazy man's pack for these processes!
We recommend you read:How to buy Bitcoin? You can also buy crypto at convenience stores, learn 5 steps to deposit and withdraw Taiwan dollars!
What is Spot?
In financial trading, spot refers to buying or selling a commodity or immediate delivery, payment currency, and spot transactions are carried out at the current market price.
And in the bull market, the market sentiment is high, in addition to the credit of , other (cryptocurrencies other than Bitcoin are collectively referred to as ) also generally show an upward trend. In such an environment, the most suitable way for newcomers to enter is spot trading and lending (the mechanism and principles of lending will be introduced later), compared to opening contracts, these two methods are relatively stable, and they can make the assets you hold continue to work for you and make money, becoming a qualified wage slave!
Not sure what are? We recommend you read:Bitcoin hits a new high, , also soar! What are ?
Spot Principle and Advantages
Spot trading refers to directly purchasing and waiting for the price to rise to make a profit on the price difference, that is, the so-called "buy low, sell high". So you need to pay attention to the market dynamics regularly, and you can also directly place limit orders and wait for the price to reach your expected value to automatically buy or sell.
In the bull market, due to the strong market demand, the prices of , and other mainstream will have significant increases. Experts previously predicted that would break through $100,000 by Christmas this year and reach $250,000 next year, but as of the time of writing, has already reached a historical high of $108,365, so you can expect that in this bull market, even if you think the current price is a high point and you shouldn't enter, can still break through your imagination when you wake up from a nap! Of course, it may also crash (laughs).
The , mentioned above are mainstream , which are usually (just usually) more resistant to declines, and are relatively less affected by the ups and downs in the bull market. You can hold them long-term and become a Hodler, or you can buy low and sell high, move in and out of the market, keep your capital highly liquid and not restricted by any limitations, becoming a Chill guy who doesn't stay in a suite.
Before buying and selling spot, you need to learn how to deposit and withdraw, we recommend you read:
Spot Purchase Tutorial
Taking the purchase of as an example
1. Open the App, click on
2. Click on the bottom Trade
3. Select Buy
4. In the buy order below, select Market Order
5. Manually enter the amount you want to buy, and the spot purchase is complete
What is Lending?
As the literal meaning suggests, lending (called "Simple Earn" in the App) is to lend your assets to other users in need, and earn interest from it. And due to the bull market, the demand for borrowing is high, so the platform will have higher annualized returns (APR) for certain . For example, the demand for is high, so the APR is also relatively high. You can choose the with the best interest rate at the moment and that you hold, set the interest rate you want to lend at, or follow the current best market rate, the platform will automatically match, and once the match is successful, you can start earning income.
If you want to see more details about the lending method,we recommend you check out this table
If you are not the type of person who likes to chase the market, then after buying the spot, you can lend it out to generate passive income, and you can choose between demand deposit and time deposit (but the platform has not yet launched the time deposit product), and the risk is relatively low, this is the most suitable way for beginners to enter the market to try the water and invest steadily. Especially USDT (stablecoin), its value is pegged to the US dollar, so earning USDT is equivalent to earning US dollars, which sounds very comfortable!
Don't quite understand what a stablecoin is? I recommend you read: Newbies are afraid of being trapped, so they buy this first! From financial giants to crypto newbies, why does everyone need stablecoins?
Lending Tutorial
- Click the Finance option below
- Select "Simple Earn" (on-chain earning will be explained later)
- Select a coin you hold to lend (here we use USDT as an example)
Then you can see the annualized return rate APR (Annual Percentage Rate) for the past hour in the figure below. The meaning of the annualized return rate is "the return that this investment can generate in a one-year period".
The Deposit Amount below is the asset that can be lent out, the minimum is 0.01 U, then enter the annualized return rate you want to get for this lending, the platform will automatically match for you, but if you set it too high, it may not be borrowed out, you can also check the historical annualized rate on the side, if you are not sure how much to set, you can directly set 1%, the system will automatically adjust it to the best annualized return rate in the current market.
The platform will also provide exclusive rewards, like USDT has a 10% subsidy rate, which means that if your lending rate is 1%, the platform will give you an additional 9%, making your lending rate more lucrative, but of course there will be some rules and restrictions, like the figure below is limited to the first 1000 USDT and within 180 days.
The process is also clearly written, the interest will be distributed once an hour, if you want to see more details about the interest calculation method, you can also check the official website of the exchange directly. Finally, click the subscription, and the lending will be executed automatically, then just wait to collect the interest.
There is also a faster way here, which is Auto Earn, if you turn on this function, the platform will automatically lend the idle funds (6 hours or more) in your asset account, which means letting your idle money earn money, and you can withdraw it at any time, very convenient. Just go to the Assets page, click on Earn, and then click on Auto Earn, select Auto Earn, that's it, you can turn it off and withdraw the funds at any time.
What is on-chain earning?
This is another way of earning provided by the platform, but it is through staking and DeFi protocols, the latter has higher risk, so if you want to invest, it is recommended to first check the specific details of the DeFi product. Here we will just introduce the staking method.
- Here we choose to stake USDT to earn the cryptocurrency AVAX.
- Then you can see the expected daily earnings.
- Finally, detailed data will be summarized.
Don't understand what staking and DeFi are? I recommend you read:
How to choose a crypto exchange (part 1) - understand CeFi, DeFi, which one is newbie-friendly?
Conclusion
Finally, I still need to remind everyone that investing in cryptocurrencies is not only an opportunity to make money, but also a process of learning and growth. Even in a bull market, you need to maintain rationality, control risks, and set your investment goals. Patience is the key to profit, and persisting in learning and adjusting strategies is the way to steadily advance in the market. Whether it's spot trading or lending, you need to have a basic understanding of the market and remain vigilant. Of course, you also need to keep a portion of your funds for steady and stable investment, so that even if the market fluctuates, you can still sleep well at night (laughs).
( * The content of this article does not constitute any form of investment advice. Any investment has risks, please research and consider carefully before deciding! )
〈Beginner's Guide to Bull Market! Learn spot and lending to start earning crypto returns〉 This article was first published on《NONE LAND》.
