This is why many people choose trading as the main method of earning income with cryptocurrencies. When the exchange rate can change by a dozen percent in both directions within a day - the idea of making money by trading looks extremely appealing. The potential profit from trading on crypto exchanges is much higher than from trading on stock markets or Forex.
But it's not all sunshine and rainbows either. As we've already told, cryptocurrencies offer not only nice growth figures, but also painful falls. Moreover, falls can be extremely long. For example, the decline of Bitcoin and the entire crypto market during the so - called "crypto winter" lasted for more than a year - from the beginning of 2018 to the spring of 2019. Traders can make money on the bearish market too, but it requires a lot of knowledge, experience and luck. So falling markets hurt traders as well. Fortunately, there is a way to make money that works equally well regardless of the price moving up or down - binary options.
When buying cryptocurrency binary option (for example, BTC/USD one), the buyer makes a forecast that the coin will become more expensive or cheaper before the option's expiration date. If the forecast is justified, the buyer is refunded the cost of the contract and receives a premium for the correct forecast. If the direction of movement was not guessed correctly, the option expires and the money is lost.
Binary option can even be thought as a bet on the victory of "bulls" team (market players trying to move the price up) or "bears" team (trying to move the price down). Moreover, since you only have to guess the direction of price movement, and it does not matter how much it will change, binary options are a much more reliable and simple method of earning money than "classic" trading.
Unfortunately, there are many binary options brokers who use very questionable business practices: suddenly freeze payments on successful options, reduce premiums without warning, etc. So you need to pick a platform for binary options trading very carefully. One of the best options today is the Bulls Vs Bears platform.
BVB is based on blockchain technology and is fully decentralized. Thus, the platform does not have a single "decision making center" that can "change the rules of the game" at its discretion, no one can freeze or even delay payment or perform any manipulations "retroactively"- this is simply technologically impossible. And there is no sense in any fraud on the part of the platform - the system works similarly PvP-games. Users are not competing against Bulls Vs Bears broker, but against each other. In addition, all transactions occur directly between users' wallets, so there are no delays in payments and the platform does not have control over users' funds at any point.
Binary options combined with a reliable platform guarantee that while hodlers and traders will panic when looking at changes in exchange rates, you will count your profits with a self-satisfied grin on your face.