Statistically, it's actually better to hold your crypto than to trade it. If you trade frequently there are far more taxable events that occur in crypto than in other markets. Also, holding longer-term allows you to capitalize on long-term capital gains tax, rather than short-term capital gains tax.
The money you can make depends upon the experience and size of your investment. There is no set amount, but you could make a few hundred dollars each month or a few thousand. It really depends on how involved you are in the cryptocurrency market. If you do your research and invest smartly, you can make a lot of money.
Return: Depends on size of investment and price changes. Buying and holding Bitcoin as a long-term investment — or, as some crypto enthusiasts call it, HODLing — can be a low-effort way to make money in the long term, as long as its price when you finally sell it is higher than the price at which you bought it.
Focus on larger market cap coins: Stick mainly to the top 10-20 coins by market cap like Bitcoin and Ethereum, which tend to be less volatile. Smaller coins can 10x but also drop 90%. Set targets and stops: For each trade, determine a profit target (like 5-10%) and stop loss level (around 5-10% below entry).
Use Safe Storage. Store sizable crypto holdings in a hardware wallet or with a trusted crypto custodian rather than leaving them on an exchange long-term. Leading hardware wallets include Trezor and Ledger, and some software-based wallets like Electrum are considered secure.
Very rarely should you sell your investments to pay off debt. The one exception here is if you have high-interest debt (like an outstanding credit card balance), but even then there are alternatives to consider before using your investments as repayment.
Crypto is volatile and a substantial risk. Invest only what you can afford to lose. Crypto scammers are experts at getting you to buy their digital assets.
Investing $100 in Bitcoin alone is not likely to make you wealthy. The price of Bitcoin is highly volatile and can fluctuate significantly in short periods.
According to the Crypto Wealth Report 2024 from Henley & Partners, there are 172,300 crypto millionaires in the world right now. That's a 95% increase from a year earlier, so obviously, a growing number of people are becoming very wealthy from buying and holding crypto.
Cryptocurrency is legendary for its volatility, and massive price swings can occur over a single trading day, making it especially attractive for day traders. This volatility can make day trading crypto highly profitable but also highly risky, if the market doesn't swing your way.
Bullish predictions for bitcoin's price in 2025 from posts on X suggest a significant upward trend. CNBC analyst Tom Lee's target number is $250,000. Matthew Sigel of VanEck forecasts $180,000.
With its potential ROI of 5,000%, $BBT is undoubtedly the best cryptocurrency to buy now. You can buy $BBT using USDT, ETH, USDC, MATIC and BNB. Holding $BBT means unlocking the full potential of BlockBoost's ecosystem. From exclusive project access to significant staking rewards, $BBT ensures investors stay ahead.
Every investment decision, especially in cryptocurrency, should align with your personal risk tolerance. For those comfortable with high volatility, holding or even buying more at key price levels may fit their strategy. For risk-averse investors, selling a portion at $100,000 might help manage exposure.
You may be a victim of hacking, fraud and scams
Fraudsters can hack into the technology or platforms used for crypto assets, like online wallet companies or crypto exchanges to try to steal your keys and gain access to your wallets and your crypto assets.
Our real-time BTC to USD price update shows the current Bitcoin price as $90,961 USD. Our most recent Bitcoin price forecast indicates that its value will increase by 9.69% and reach 99772.57 by January 15, 2025.
They stay away from debt.
Car payments, student loans, same-as-cash financing plans—these just aren't part of their vocabulary. That's why they win with money. They don't owe anything to the bank, so every dollar they earn stays with them to spend, save and give! Debt is the biggest obstacle to building wealth.
Mortgage lenders in the United States do not accept Bitcoin as a form of Payment. First, understand that mortgage lenders in the United States expect you to pay your mortgage in US dollars.
US taxpayers do not have to pay taxes simply for holding crypto. Taxes only apply when you earn, sell, or exchange crypto. Consider strategies like tax-loss harvesting, donating or gifting crypto, or holding for long-term gains to avoid capital gains tax.