Once you’ve mined your coins, you must be wondering what to do with it. The question is, do you hold on to it or do you sell? We’ll answer how you can trade Crypto Currency you’ve mined in this article. Some of you will be wondering if you should trade Currency directly or mine first. We’d suggest mining first, because of some of the risks of trading
Crypto Currencies are volatile, and notoriously so. Holding on to one for a long time can be profitable, but buying and selling can bring 10 times the profit, but with a lot of risk. You should look to mine first, then trade, so to ensure that you don’t lose all your money in a poor sale. You should also hold at least 40% of your portfolio in a stable currency so you can be assured that you don’t lose all your money
Which coins you should invest in changes daily but other than Bitcoin, here’s a few that change in value very quickly
Ethereum, Monero, Litecoin, Ripple, Dash, Civic, Iota, Siacoin, Neo, Maid, OMG, Steem, Potcoin, Litecoin, Hempcoin.
If you want to really trade your Bitcoins, then start off by investigating between Ethereum, Litecoin and Bitcoin. Ethereum is widely considered to be the biggest contender to Bitcoin and after Bitcoin. Ethereum’s value has skyrocketed recently and trading them is a good idea.
So for about half an year, try splitting between these three, and following market trends. Once you get the hang of it, move on to some of the Altcoins I’ve mentioned above.
Never invest all your money in Altcoins. You can lose a lot of what you mined if you get it wrong. The rewards are high, but the risks are high as well.
Altcoins are most profitable at launch, so if you find a newer Altcoin that looks like it may last, then by all means, go for it. Always do your own research and decide which coins you can excited about. Crucially, entry point is very important, as it is cheapest then.
Is Trading worth it?
It can be worth it, but it’s not better than mining. However, if you can learn exactly how to trade, you can take further advantage of mining, as you will be creating currency that will then be increasing in value. If you can learn this properly, your profit can be even 10 times greater than what it would have been, just by mining. So it’s best to trade currency you have mined, but it would be a great risk to invest money directly. But trade away Crypto Currency and spend what you earn