- Some traders thrive during crypto market volatility and can make profits regardless of the trend.
- A variety of savings options are available for holders who prefer to play the long game.
- One method is to save using popular exchanges such as Binance.
- A second is through MyCred which has a liking to Litecoin (LTC).
To a certain degree, trading cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and XRP, in a bear market can be particularly difficult for one who has not familiarized themselves with such an environment. One technique some traders use is to invert their charts on Tradingview to mimic traditional bull cycles. By inverting the chart, the trader can analyze it as if it was a familiar bull trend.
However, when this becomes cumbersome, some traders usually convert their holdings to a stablecoin such as Tether (USDT) and wait for favorable bullish conditions. For the holders who are in it for the long game, HOLDing is the only option and now they can earn considerable annual interest through their idle funds.
One way investors can earn annualized interest on their Litecoin (LTC) is through the platform of MyCred. The Litecoin Foundation informed the LTC community of this new feature through the following tweet.
With our new daily compounding interest feature from @ihavecred, earning on your #crypto has never been easier! Click here and put your assets to work: https://t.co/HkmxKXHcwm pic.twitter.com/ItQQGrZWnG
Further checking the MyCred platform, we discover that users can earn up to 10% per annum on their digital assets irrespective of the market direction. Interest is paid monthly through the user’s choice of crypto or stablecoin.
Cred is a global financial services platform whose vision is to allow everyone to benefit from more equitable, inclusive financial services. Assets enrolled in the aforementioned investment service are used to lend to a variety of customers such as retail investors and money managers.
Other Crypto Savings Methods Through Crypto Exchanges
The concept of crypto savings has also been embraced by prominent exchanges such as Binance which has a full range of savings options such as fixed and flexible savings. For the holders committed to holding for a very long time, a locked savings account provides the best returns on Binance. More on this can be found on the exchange’s Savings page.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.