There are different ways to invest in cryptocurrencies. Crypto trading is one of the main options for users of the Whitebit crypto exchange. However, in terms of pricing dynamics, Cryptocurrency is the most volatile asset. If you want to exchange cryptocurrency, it can both help you make a fortune and lead to losses. Long-term investment will help reduce the risk of financial losses if the rate drops.
Why is cryptocurrency considered an investment in the future?
The most accurate answer to this question was given by crypto expert and financier Frederick Kaufman, author of The Money Plot: A History of Currency’s Power to Enchant, Control, and Manipulate. He believes that the dollar will be pegged not to silver or gold but to cryptocurrency in the future.
Details about SMART Staking
SMART Staking on WhiteBIT is an opportunity to leave an asset on a crypto exchange for a set period. At the moment, the exchange offers storage at interest for more than 35 tokens. Among them are both top cryptocurrencies (BTC, ETH, USDT, EOS, CHN, XRP) and lesser-known projects. The list of available coins is constantly expanding, but the top tokens remain unchanged.
Basic terms and conditions of staking
The duration of the plans ranges from 10 days to one year. You can terminate it early. However, in this case, the previously earned interest is not accrued.
Please note that WhiteBIT offers competitive rates compared to both similar platforms and traditional banking institutions. How is this possible? The exchange explains the phenomenon as follows: deposits guarantee sufficient amounts of assets necessary to provide loans to users (for margin trading).
For example, if you use 0.5 BTC as an asset for the SMART Staking plan, the result looks like this:
| Percent | 10 days | 20 days | 30 days | 3 months | 6 months | 12 months |
| 0,4% | 0,002 BTC | |||||
| 1% | 0,005 BTC | |||||
| 1,75% | 0,00875 BTC | |||||
| 6% | 0,03 BTC | |||||
| 13% | 0,065 BTC | |||||
| 28% | 0,14 BTC |
How to choose an asset for a profitable deposit
It is advisable to get acquainted with how long the cryptocurrency has existed, the dynamics of pricing and what it depends on. For example, the Chainlink project reached its highest value of $50 over the past year. This is primarily due to cryptocurrency updates, as well as interest and trust from large companies.
Thus, one of the important criteria is the presence of investments in cryptocurrencies from large companies. Today, Microstrategy, Tesla, Grayscale, Bitwise, etc., are considered benchmarks. You can watch these data on the CoinShares analytical portal. It also matters if the company adheres to its own Road Map.
Do not forget that any coin retains its liquidity as long as potential buyers are talking about it. This makes it easy to buy and sell. You can check how often a particular token is mentioned on social networks on IntoTheBlock.
The post SMART Staking: How to Save And Multiply Your Funds on WhiteBIT? appeared first on TheCryptoUpdates.
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