Does Hodl Gang Still Work?
When there was only Bitcoin and Ethereum primarily HOld gang became a big topic. It's what I would consider a new trend of Diamond hands. It's people hodling in their crypto and not selling. It's to show a sign up support for the new system and to take down all the haters and FUD going on.
HODL
The HODL gang in a way still works. Buying bitcoin at $20,000 last year would mean you nearly doubled your money. Having bought even 3 years ago means you're now up 4x. Go back even further in time and you're most likely up 100x or better!
Bicoin now hovers around the 30k-40k mark and institutional buying and mega corps are starting to get involved. To me is starting to be a sign to get out of bitcoin and move to another crypto where their grubby hands aren't. That's my own personal opinion and why I feel bitcoin just isn't taking off in the way many thought it would since the initial burst. Could I be wrong and bitcoin shoots to 100k+ sure it's possible so I'll always Hodl some of it for sure but now sell the profits.
The Profits?
Yep, with bitcoin you can now make profits on interest, defi and other methods. This wasn't the case back in the HODL gang days. You literally just sat on it and accumulated no more bitcoin unless you mined or bought it. Which leads me into the next phase of this article.
Crypto Has Evolved
Like any tech Crypto will evolve over time. Methods that worked 10 years ago even last year might not work this year. It's a fast paced system that trades 24/7 and requires a lot of know how if you want to really get ahead.
The HOLD gang while it still works there's a much more effective way now to stack massive wealth in crypto. It comes with risk and challenges but with that come bigger rewards.
I'm not talking about chasing after the next meme coin or investing millions into a new startup.
I'm talking about DeFI, Liquidity and staking rewards. All of these things allow you to earn MORE crypto from your existing crypto with varying degrees of challenge and risks.
DeFi & Liquidity
DeFi and Liquidity of course come with some major risks in terms of losing your original tokens from a hack or the liquidity pool drying up and the move of prices. However they also sport some of the highest ROIs of 40%+ This means that $100,000 in bitcoin you have could effectively turn into $140,000 if prices all stayed the same. It's very important to first learn about Impermanent Loss before you do any kind of investing into these platforms.
Because of this impermanent loss we have seen a larger push towards stable coin liquidity providing over the raw crypto assets and why we have seen it balloon.
Moving Assets In and Out Of Stables
Another tactic which I have been using myself as of the last few weeks are when markets are volatile you could risk it and move a high over bought crypto and sell it into a stable coin. When markets come crashing back down (like they have recently) this opens up a new buying back in opportunity which means your buy in now is higher then your sell. For example you sell bitcoin at 60k into a stable coin. To make things easy we will do 1 Bitcoin. You now have 60,000 stablecoins. The markets crash and push Bitcoin to 30k. You could buy back into bitcoin and pretty much have 2 bitcoin just like that. (minus any fees) If bitcoin returns to 60k again you just doubled your money from 60k to 120k. It's a high risk/ high reward way of trading which you need to watch yourself and do your best at understanding the markets.
Staking
Believe it or not there where some very limited options in the proof of stake space. In fact I use to and still proof of stake little coins like BEAN, RDD, NAV and a few others. But this is now evolving greatly into a DPOS system where you really don't tie up your tokens anymore. Instead you use that weight to vote on witnesses and by doing so you earn a little bit of that token as an active reward.
Some of the largest in this field now are Polygon(matic), Avalanche, Cardano (ADA), Solana and maybe one day soon Ethereum (ETH)
As you can see the possibilities to earning more on crypto have never been higher along with the options to do so.
Are you using any of these methods yourself? If so what one and what token do you like best?
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