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How 2019 Can Be A Promising Year For Cryptocurrencies

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How 2019 Can Be A Promising Year For Cryptocurrencies

2017 was a year when cryptocurrencies enjoyed its biggest successes. Most of the virtual currencies broke the glass ceiling with their resistance levels. It was a year when it was almost taken for granted that investing in these non-fiat currencies could help you to get amazing returns.

The bullish trends that time were the fear of missing out (FOMO) by potential investors and the general excitement of a new invention.

This amount of positivity was, however, met with doom and gloom that December when prices skyrocketed and then plummeted suddenly. This was the case of all major cryptocurrencies, with Ethereum suffering the biggest blow.

The bearish market trend then was a result of hostile regulatory environment by governments of the world over who wanted to protect fiat currencies as against their virtual peers.

2018, however, is a tumultuous year for cryptocurrencies.  Till date, it was seen that most of the avenues for making money from cryptocurrencies had fallen flat. Some Investors looked the other way even as people who had faith in virtual currencies made money by strategically selling off their investments through Online Cryptocurrency Exchanges.

For the remainder of 2018 and the coming 2019, here are a few strategies which can be adopted to ensure great returns from cryptocurrencies.

  1. In the long run, cryptocurrencies with real world partnerships can help to get the best bang of the buck

The Cryptocurrency market is fast paced, highly risky and also better suited to day traders than it was ever before. Just like you would do with stocks, you can select virtual currencies which you can wait on 2-5 years before redeeming.

You can do this by choosing those cryptocurrencies that have partnerships with real-world industry players. For example, Stellar Lumens has partnerships with Shift, Deloitte, IBM and Stripe to name a few.

  1. Let Robots do the trading

With robotics now creeping into all fields, you can now take the help of bots to trade in cryptocurrencies for you. Generally, most cryptocurrencies fluctuate 1-2% daily and bots can ensure you get the best deal by keeping a keen eye on the markets for you 24×7. You can take the services of Gekko, CryptoTrader or Zenbot for this.

  1. You can run a masternode to accumulate returns and increase the quantum of investment

As an investor, you do not necessarily need to trade in cryptocurrencies. You can also operate a node which can be used to earn passive income while also getting the benefit of price appreciation on the staked coins.

Operating a masternode typically requires a hefty initial investment, where you need an operator to run the node. These operators can get a 5-20% of a block reward which is meant to compensate them for the cost of running a node.

The cost of operating a node has significantly reduced, making it a lucrative way to earn through cryptocurrencies. Node operators can hold, exchange or block their rewards on cryptocurrency exchanges like Evonax.

Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine. He's a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within. Contact: yusuff.olayode@todaysgazette.com

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