Ways To Make Your Bitcoin Work For You During Lockdown
Over 214,000 new cases were added to the confirmed list of COVID-19 on August 12. Many countries, including some European ones that had begun to restore a semblance of normalcy, are forced to impose lockdown measures on various degrees. It seems that a full recovery is still far far away.
In times of uncertainty and potential inflation, an array of new buyers flock to the so-called hedge assets such as gold and bitcoin. Bitcoin, what once believed by many a bubble, has garnered wider recognition and acceptance globally.
Bitcoin has proven itself a highly profitable asset by occupying the seat of the best-performed assets year to date. Some even claim that bitcoin could replace fiat one day. But let’s not look too far ahead and focus on the present: how can bitcoin help us avoid devaluation, and hopefully, help us pay the bills during the lockdown?
Today, I am going to show you two ways to let your bitcoin work for you, then you can do your research and find out the best-suited one for your risk tolerance and portfolio.
1) Deposit Your Money in an Interest-bearing Wallet
With an interest-bearing wallet, you could sit back and money will flow into your account automatically.
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. So if you trade frequently, remember to use a wallet that enables you to withdraw at any time.
2) Multiply Your Profits Through Margin Trading
If you are good at analyzing charts and trading, you could earn big money by speculating the trend of bitcoin’s price. Even if you are a beginner, you could learn to trade using the demo account available on some exchanges.
To illustrate, you can long or short bitcoin to 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 always come with high risks, so remember only to risk capital you can afford to lose. When you are feeling stressed, try to take a break from trading to avoid mental stress.
Bexplus – Crypto Exchange with Interest-bearing Wallet Service
Headquartered in Hong Kong, Bexplus offers traders immense opportunities to earn profits regardless of market conditions. On Bexplus, you can kill two birds with one stone. Bexplus not only provides 100x leveraged futures trading on BTC, ETH, XRP, EOS, and LTC, but also offers a BTC wallet with 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 and the deposits in your wallet will not be used by Bexplus for other purposes, so you can withdraw any time you want.
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.
100x Margin Trading Plus 100% Deposit Bonus
If you want to try margin trading, you’ve come to the right place. Bexplus is one of the most user-friendly exchanges with its intuitive and concise interface and trading simulator. Without KYC requirements and adopting high standard encryption techniques, Bexplus is trusted by traders worldwide, including those from the USA, Japan, Iran and Sudan.
Bexplus boosts of the following features:
1) No KYC requirement, registration with Email verification
2) Demo account with 10 BTC to help beginners learn to trade efficiently
3) 100% bonus for every deposit and 10% off of transaction fee
4) A user-friendly mobile app fitted with all the useful features present on the website
5) 24/7 customer support
Bexplus now offers a 100% deposit bonus to all traders. Deposit 1 BTC and you will get 2 BTC. If you want to seize the opportunity to grow your wealth during the lockdown, don’t hesitate to join Bexplus now.
Follow Bexplus on:
Apple App Store: https://itunes.apple.com/app/id1442189260?mt=8