Everyone wants to earn the best returns when it comes to investment in bitcoins. Thus, in this article, we will help you to increase your bitcoin holdings without betting on altcoins.
What are altcoins?
Altcoins are another bitcoin that was launched after the huge success of bitcoins. Generally, people think of altcoins as a better alternative as compared to bitcoins.
Many people have faced huge losses because of their investment in altcoins. If you are scared and unsure about investing in altcoins, we have come up with the best alternative for you.
This article will provide you with ways by which you can increase your bitcoin holdings so that you can boost your profit percentage. Keep in mind that some of the ways may involve high levels of risk. The strategies provided in platforms like bitcoin pro trading app is to educate investors and traders. But, never invest anything that you can’t afford to lose.
Go through different ways to get maximum returns on your bitcoin investment.
Dollar-cost averaging
The main idea behind the dollar-cost averaging method is to purchase bitcoins and other cryptocurrencies on a recurring basis. Thus, you can purchase the bitcoins daily, monthly, or even quarterly. Under this strategy, it is advisable to assign a day and date when you will purchase bitcoins and always try to stick to the schedule.
The dollar-cost averaging method is known as one of the safest ways to increase the bitcoin holdings. This is a preferred method as investors, and traders get emotionally attached to their investment. It is always easier to buy anything on a particular day and time as your brain will be wired about the schedule when you need to purchase.
A dollar-cost averaging method is a good option for investors who want to hold bitcoins for a longer duration.
Buying the dip
Buying the dip is a process that means, purchasing an asset when the price has declined. The process can have different aspects and meaning depending upon when and where you are purchasing the asset. As per some bitcoin traders, they are buying a dip even if the asset is in a long term strong uptrend. They are doing so as they hope that uptrend continues even after a minor dip.
The buying dip process is mostly done during the bull season. But, when compared to the risk factor, buying the dip is much riskier as compared to the Dollar Cost Averaging. Under the Dollar Cost Averaging, you were looking at a long term investment option. But, in Buying the dip protocol, you are looking at a short-term investment.
If you are following the market regularly and if you have enough knowledge and information about the bitcoin world, you can think about this method to increase your bitcoin holding.
In addition to this, those investors should plan to go for buying the dipping process, who are disciplined enough not to fall into the temptation of buying at the wrong time.
Pick one indicator
It is always advisable to pick only one indicator when you are thinking about increasing your bitcoin holding. Thus, if you are focussing on technical indicators, you should try to focus only on that. But, if you are focusing on long term price and volume, you should pay attention to only that.
Initially, the process and indicator may not give you a true picture of your investment. But, gradually, you will get used to trusting the indicator that you use.
Some investors are of the opinion that more information is always better than less. But, this is not a totally true perspective if you want to improve your bitcoin holdings.
Everything depends upon your source of investment. Use indicators that work well for you. There’s no point in checking and looking at those indicators that are difficult to use and follow. When you stick to a single indicator for a longer duration, you will never miss any important investment opportunity option.
Investment in bitcoins is one of the most important decisions you can make. But, if you are serious about making an investment that can garner best results, it is always advisable to have the proper information. We hope all this information about ways to hold bitcoins will work in your favor.