It’s no secret we’re in a bear market right now. But while we’re waiting for bullish movement, we don’t have to be twiddling our thumbs. In fact, this is the perfect time to take action to reward your future self.
How?
By getting our ducks in a row and furthering our Crypto education.
In the grand scheme of things, the Crypto train hasn’t even left the station. We’re still the early adopters, which means great fortune and wealth are there for the taking if we’re smart about it.
So, here’s 3 things you can do today to make the bear market work for you.
1. Diversify your knowledge
Believe it or not, Crypto is much more than Bitcoin and Altcoins. There’s a whole world of new technologies and products emerging in the Crypto space, so spend some time now researching and getting familiar with them. No one can predict what the next big area for growth will be (and it won’t always follow past trends!). So, use this time wisely and diversify your Crypto knowledge.
Need research inspiration? We suggest looking into some of the trends and sectors where future growth and opportunity potentially await. Research some of the following areas:
– New Layer 1 and Layer 2 chains
– Airdrops
– DeFi – Decentralised Exchanges, Staking
– NFT’s (DeFi for NFTs)
– Crypto Loan Platforms (such as liquid loans)
– Metaverse and GameFi.
2. Set up your Crypto wallet
A Crypto wallet is one of the most important tools in your toolkit and gives you complete control over your finances. At DWG we always recommend having your funds in a wallet you control. It’s one of THE most important security measures you can take. So, if you’ve been putting it off, or haven’t found the right time to take this step, here’s your opportunity.
3. Reassess exchanges
Every exchange has pros and cons. They all have different coin selections, and they all charge a fee. And like most things in life, you pay extra for convenience. Many people start out on a user-friendly exchange and accept the higher fees until they build up confidence. If you’ve been investing for a while, it may be time to take a look at what other, lower fee options there are in the market.
Bonus tip: Use this time to set yourself up on a few different exchanges. It doesn’t matter if you don’t end up using them, at least you’re covered when opportunity comes knocking. Remember you can open an exchange account for just Crypto to Crypto activity. Many times, this will not need you to go through lengthy verification processes, just an email is required.
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