Important Ways To Earn In The Cryptoworld #005

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Hello crypto lovers,

How are you all doing today, I believe you are all doing great and are being as active as possible in the community.

Today is another beautiful day we have to be alive and I am sure we are grateful.
In our last discussion, we learnt on Important ways in which we can earn in the cryptospace, and due to time we couldn't complete our conversation.

Here we are today, continuing from where we last stopped, please follow along on this interesting journey.

• BUYING AND HOLDING (HODL)

Buying and holding which is sometimes called hodl can be explained to be a method of earning in the cryptospace whereby investors purchase a particular amount of cryptocurrency with the goal of holding it for a long time, irrespective of the market volatility or the short-term price fluctuations.

The term "HODL" was gotten from the incorrect spelling of "HOLD" which was used by an investor in 2013 bitcoin forum where he made known his intentions to hold onto his bitcoin despite the market price fluctuations.

Ever since then, the term HODL has been accepted in the cryptospace to mean a strategy of buying and holding on to a cryptocurrency for a long term purpose, in other words it can be referred to as a long term investment.

The idea behind HODL is usually to take a long term view of the market, focusing on the potential of a cryptocurrency over a long period of time, rather than making profits from the short term market fluctuations.

HODL helps to simplify investment processes in the sense that it prevents investors the need to constantly monitor the market.

It reliefs users from the anxiety involved in trying to predict the short term movement of prices, rather it helps them make a better approach to the cryptomarket.

Also, HODL help relief investors from the pain of making emotional trading decisions due to the short term movement of the market, decisions which may be driven by fear and greed.

By sticking to the strategy of HODL, investors are more likely to make rational decisions which will profit them in the long run

• PARTICIPATING IN ICOs:

Ico which is an acronym for Initial Coin Offering can be explained to be a fund raising method that is usually used by blockchain projects to raise capital.

This involves the selling off of new cryptocurrency holdings to early crypto investors in exchange for other popularly known cryptocurrency.

For you to make money from ICO, you need to be updated on the most recent form of ICO and you need to make proper research on the project, their goals, their team, their white paper, team's experience, market potential and their fundamentals.

After all this research have been made and you are comfortable with the fundamentals gotten from the project, then you can proceed to invest wisely.
It is very advisable to invest only what you are willing to loose as ICO is a very risky investment.

After the ICO has been completed and the project has been fully launched, you can then decide to sell off your shares of the project or HODL until it increases in price.

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CONCLUSION

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There are numerous ways to earn from the cryptospace and the above explained is just a few.

Please hang around and visit my blog for more tips on how to earn from cryptocurrency.