Everyone wants to make money, but can you make money investing in Bitcoin?
I’ve had my team of analysts at de Vere Group looking at this and they have come up with what we think is the best way of making money from bitcoin while limiting the downside risks.
And instead of keeping you in suspense, this is what you do:
- Invest at the end of the day and always put in a stop-loss.
The deVere Crypto app and other exchanges have a stop-loss mechanism built-in.
A stop-loss is an instruction to a digital currency exchange or other platform not to enter into any transactions once the price has reached a certain price on the day’s trading. The intention is to minimise any losses.
- Set the stop-loss to -2%. That means you’re out if the markets fall and you don’t have to worry about big losses
- When the market goes up, ride the wave for 20 days and then sell.
- Then, repeat the process.
Buy, set a -2% stop-loss and ride for 20 days.
If you had done that over the past two years, my analysts tell me you would have made a 900% profit.
That’s a pretty good return by anyone’s standards, but don’t forget, do not invest what you can’t afford to lose. And that warning particularly applies to cryptocurrency investments because they are so volatile.
It’s also better to have a diverse investment portfolio than all your eggs in one basket.
Some more ideas about cryptocurrency investments will come your way from us real soon.