Since crypto markets are always open, they do not have predetermined periods like bonds or savings accounts. Some services offer APY to your Crypto like Celsius, Haru Invest, and BlockFi, to name a few.My problem before when I was trading was attempting to be consistent with my daily profits while not returning them to the market. Because I have no daily target when making daily trades, I give lots or all of my profit back in the low volume.If you have no daily target or goal of reaching, you could give lots or all of your profit back in low volume. And with the volatility with cryptocurrency, this stands true.We also have to note that there will be days that you get gains and get losses. Let's say you invest $500 today. It could be worth $2000 or $10 tomorrow. It's impossible to say when or if this upward trend will come to an end.But let's say that you do aim for long-term investment. You can use this Compound Interest Calculator and try it out for yourself.You can start out a little with, let's say, an initial of $100 and a contribution of $100 as well and have an 8% interest/year. In 10 years, you'd get $17.6k. Now imagine if you'd place more there? Figures like this aren't impossible… but of course, you'd expect there will be rainy days too.It'll, of course, be hard to hit an exact % consistently each day, so this is a good way to not limit yourself from more gains but also capping your downside risk to the daily target.Long-term investment leads to big gains, but as always, you should DYOR and recommend doing this every day. This is not one of those get-rich-quick schemes. There are really no shortcuts, and hard work is also just as important.
Submitted August 02, 2021 at 01:04PM
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