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With prices stable, and only small fluctuations in the market, what can you do to keep interest and keep busy? Here are my top tips:
1) Review your security - do you have all your seed phrases written out and in secure locations, do you have crypto in less secure places, should you be transferring to external wallets. Often gas prices are lower during this quieter times so it can be a good time to do transfers.
2) Stake - Stake and earn more coins, then when the value goes back up you'll have increased your value even further. For each different coin you own, check whether you can earn more and what the APR and risks involved are, StakingRewards.com is a great place to start.
3) DeFi - Creating liquidity pairs (LPs) and yield farming is a great way to earn much higher APRs and to stack coins during these down times, however the risk is higher, with impermanent loss and the potential for rug pulls often meaning the APRs can be too good to be true. However, do your research and invest in good projects and you can be handsomely rewarded. I'm using ViperSwap & LootSwap on Harmony (95% rewards locked until Christmas then sequentially unlocked daily for 12 months to reduce dumping), also BiSwap for BSC projects.
4) Take the opportunity to update and make sure your records are correct, these will be invaluable to you at tax time and to help you track your (hopefully) gains.
5) Research projects, learn more about those you have faith in and find new projects. When the markets are dull its a great time to expand your knowledge
6) Buy more, markets are down, not much is happening - now is a great time to buy more if you can afford it - remember - never invest more than you can afford to loose as nobody knows whats going to happen in future, regardless of any patterns, trading analysis etc.. in reality noone knows.
Referral links to support my blog:
Binance
Digital Surge
Coinbase
Crypto.com
BiSwap
Disclaimers & Copyright:
Any links in my posts are referral where possible so if you sign up and use the site via those links I get something, or we both get something out of it, if there is no referral link available it’s just a straight link to the site. I really appreciate anyone using referral links as it supports covering my time writing these articles. None of my opinions or recommendations are based on whether a referral link is available and I have received no other incentive to write any of these articles, they are a true representative of my own experiences, good and bad.
This is not financial advice and I am not a financial advisor. Do your own research before making any investments.
