Welcome Monday, the day for work is ringing like a full time activity bell. As usual, I write articles to share my experiences, is it experience in trading or in readcash?
Not the one I keep in pandora's box from my experience
For this time, I will invite you to think about the difference between keeping your money in the bank or storing your crypto. If you put your money in the bank, do you have the advantage of saving in the bank? You should consider storing cryptocurrencies instead of keeping money in a bank.
How to Store Crypto
There are several crypto storage applications that provide additional advantages. This advantage is like passive income which will not be affected by market prices.
If the price goes down, you have nothing to lose. If the price goes up, you won't be able to sell for a profit. However, at a fixed rate, your crypto will add up after the storage period is over.
To store crypto, you have to know that crypto assets can increase in number, not price. So, you have to think wisely about what assets you will keep and how long you will keep them.
Passive income like this has various challenges such as the problem of applications being rejected by the government, hacker threats, or other problems.
In essence, storing crypto assets is the same as investing. Do you buy crypto every month regardless of how much it costs? Then, you buy and buy again without selling.
It is an investment.
But, what if the passive investment provides income? You need to calculate the risks and benefits of in-app storage.
Considering Options for Passive Income
I've written about this storage and I will review it here. Like on Binance and Tokocrypto, you can lock crypto with different terms and different deposit rates. In addition, you can change cryptocurrencies and transfer them to a crypto-growing program.
The advantages of that process are worth considering as well.
If you buy a certain asset, then you save that asset for the long term. You can choose to add and continue to add to that asset every month. Then keep that asset until a certain time. Or, storage time for two or three months.
However, this option should be separated from trading assets.
How about me?
If I'm scared because the price of TKO it drops drastically. So I kept TKO for storage option for 7 days. If the TKO buy price does not reach the right point to sell. I will increase the storage period and receive the benefits of that storage.
For in Tokocrypto, you can receive a profit of 0.004 per day for storage for a week, or you can choose a profit of 0.005 per day if you save for one month.
Hold or Save
The market is not always on our side, let alone we are new traders. When we feel we chose the wrong time to buy crypto. Then, the price of the cryptocurrency dropped so much that it almost drove you crazy.
You only have two choices, you use the method to hold on and hold back again. Or, you can redirect those assets to a storage program and you receive passive income.
How about me?
The first option is to read the charts and the potential of the market. I will hold the crypto by setting a limit order for the sale. Within a period of two to three days, if I can't hold on anymore, I move the asset to storage and wait for the time to withdraw the proceeds from the deposit and the interest on the deposit.
If you have the confidence to hold on for a day or two, hold on as long as you can. If you don't believe in your own predictions, you can keep those assets for the benefit of other programs.
I like the idea CONCEPTUALLY. It is always better to have your money in a place where it can grow, and more importantly, grow at a rate faster than inflation. But, should it all be held in crypto? No. I don't think so. Diversification of growth vehicles should be just that. Diversified. Never put all of your eggs into one basket, and NEVER risk too much money on something with the highest degree of risk.
Crypto has a very high degree of risk.
I think people, depending on where they live and to the extent they can, should have their money spread out over stocks, mutual funds, annuities, bonds, AND some savings for unexpected events.
But that is just my opinion.