HODL
Buy Cryptocurrency and hold long term
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The most common way of making money in cryptocurrency is to merely buy it and hold it popularly referred to as HODL.
The most popular forms of cryptocurrencies are Bitcoin and Etheruem. These coins can be purchased and held in a wallet for a period of time and sold for a profit.
Cryptocurrencies can go up or down as the market is volatile so it's important to either research the market and time your purchase and sell well or take the long term strategy with the expectation that the market will increase over time. For example Bitcoin was valued at approximately $1,000 in 2017 and had risen to over $10,000 by 2020 and has since hit all time highs of over $60,000.
It's also important to appreciate that you can buy fractions of coins so there is no barrier to entry with a small investment possible. You also have the opportunity to buy other coins referred to as Alt coins where their price (value) per coin is much cheaper giving large scope for profits. For example, Dogecoin has more than 20x its value since 2020 when it was less than a single cent per coin.
When keeping cryptocurrency long term, it is vitally important that coins are secure, whether that is online, taking advantage of all of the security features of the exchanges, keeping wallet keys in safe places or storing your coins offline in an external device.
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