It seems that the next crypto bull market is on the way with governments around the world printing more fiats to push economic recovery.
After trading flat for months, Bitcoin has woken up and increased over 20% in just the last 10 days. Currently, it has broken through the $11,500 mark, a level widely considered as a pivotal technical level. Despite some fluctuations, bitcoin is now accumulating around this area. Analyst Sven Henrich remarks that if bitcoin manages to remain above this area, it could head toward a prolonged rally, a big event hodlers are waiting anxiously for.
While we wait for the bull market, here are some ways to grow your wealth significantly. The suitable method will depend on various factors such as your knowledge about trading, investment experience and risk tolerance.
Some websites will reward you a small amount of bitcoin every time you fulfill a small task. These tasks include watching a video, checking out a website, and retweeting a post. Sometimes you will even get free bitcoin by playing games.
These jobs are simple and low-risk, but the money you can get is quite insignificant.
The simplest way to earn income with your bitcoin is to use an interest-bearing wallet.
Traders can store their crypto in the wallet when they are not trading. The interest rate is usually around 1% to 10%. There are different kinds of wallet, some generate income by lending out your deposits to other traders. In this case, usually, you could not withdraw your deposit until the borrower closes his/her positions or before the expiry.
While lending your deposit could earn you some interest, some traders frequently engaging in bitcoin trading find it rather inconvenient. Just imagine how terrible it’d be if you want to long bitcoin when the trend turns bullish and all your bitcoins are locked up in the wallet. We could miss out on lots of golden opportunities if we put our investment in a locked up wallet.
Depositing your money in a wallet and taking the interest is easier and more profitable than doing micro-jobs. You could just sit back and money will flow into your wallet. However, if you decide to use an interest-bearing wallet, remember to choose one that enables you to withdraw your money anytime you want.
Futures trading is one of the most popular and profitable instruments in the industry. It allows traders to benefit from each and every available opportunity that grew out as a result of high volatility.
To illustrate, if you believe the BTC price is going to increase in the near future, you can long bitcoin and make money out of the differences in the settlement between the open and closing trade prices. With leverage, trades can increase their buying power.
High returns come with high risks. Although you can earn 10x or even higher profits within a few hours, you can lose it as fast. Futures trading is the best when there is a strong trend or high volatility in the market. If you want to become a successful trader, you need to learn to analyze the market and keep practicing.
Bexplus – crypto exchange with Interest-bearing wallet service
Bexplus Exchange innovatively offers both leveraged trading and interest-bearing wallet services. Traders can get immense opportunities to earn profits regardless of market conditions. When you want to take a break from trading, simply deposit your bitcoin in the wallet and earn up to 30% annualized interest. Transaction between the trading account and wallet is instant and you can withdraw anytime you want.
The interest is calculated daily and the revenue of the deposit will be settled monthly. The monthly interest is calculated as (S*I/365*30)=MI. S represents the sum of the deposit, I stands for interest, and MI is the monthly interest.
If you deposit 10 BTC in your wallet, the monthly interest you would receive is (10*30%/365*30)=0.24 BTC. While most lending platforms require traders to deposit at least 1 BTC, traders can make a deposit starting from 0.05 BTC on Bexplus.
Features of Bexplus Wallet
Independence: the wallet is independent of the trading account, so the deposits would not be used as margin, nor would it be influenced if your positions got liquidated. Furthermore, the deposits in your wallet will not be used by Bexplus for other purposes, so your deposits will not be “locked up.”
High Security: The platform uses multiple signature access, and all funds transferred from cold storage to hot wallets are manually processed and require multiple staff to coordinate.
No Penalties for Early Withdrawal: withdrawal requests will be processed within 1 day with no penalties for early withdrawal. If you withdraw your deposit on the tenth day of the month, you can still receive the interests generated within this period.
No KYC Requirements: all registrations on Bexplus are done via email verification. You don’t have to worry about getting your information leaked.
Bexplus is a leading crypto derivatives platform offering 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts. Headquartered in Hong Kong, Bexplus is trusted by over 100K traders around the world, including the USA, Japan, Korea, and Iran. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support.
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