BTC Investing guide; by Xantan (https://minds.com/xantan):
Investing 500$ equates to about .056BTC, you'd gain the same % gains as if you put in 8900$. essentially if btc goes to 10,000$ your 500$ is now worth 557$. I use https://btcusd.aggr.trade/ to track futures, shorts, sells and buys on major exchanges for real time information.
It used to be that on the week ends BTC would move up, so the easiest strategy back then was buy on a wednesday, enter Tether coin (usdt USDC DAI paxos standard etc on sunday night) however BTC has been moving up on mondays too lately. Seems the common strategy takes a little looking into now.
Usually I use binance to trade my BTC as its a taxable act and costly to swap for tether on coinbase.
So I buy BTC on coinbase here: https://www.coinbase.com/join/xantan
Then I send my btc to binance here: https://www.binance.com/en/register?ref=UAN6WW2D
Now with your btc you can enter an alt coin, or stay in btc.
Trade your btc for USDT tether when btc is dipping, or to hold your dollar value, reenter BTC from tether when the dip is over and its starting to raise. Essentially on week ends and early week days (mon, and rarely tues wed btc moves up). It used to be mostly it went up on week ends, but now for some reason Mondays often goes big too. so a pretty easy strategy was to enter on a Wednesday or Thursday, pull money on Sunday night or Monday night, reenter on Wednesday from tether.
If you send it back to coinbase and sell it for USD this is when it is a taxable act, so keep that in mind.
I've seen many people turn 50$ into well over 1000$ in a matter of weeks with this strategy.
Keep in mind every time you reenter BTC at a loss [if btc is worth more than when you entered tether, you're losing BTC value, so be careful about this. Generally I try not to do this, but it can happen. Try not to FOMO (fear of missing out), usually you will want to just wait till BTC is worth less than when you entered tether to guarantee gains, or just trade your USDT for USDC, send to coinbase, sell, and take your profits.
Have fun and if you have any questions on strategy feel free to leave a comment.
#btc #coinbase #binance #altcoins #market