Crypto is still relevant after so many scams and bad things have happened in the last couple of years. This is only a good thing for them, considering that the market is still stable and many investments are being made. But, investment strategies have changed over the years because some business ideas are no longer relevant and new ones are on the market.
Some investment strategies won’t work for every person because you don’t have a big enough budget. After keeping crypto for a while, many people start betting on sports. There are odds to win march madness available, so you might try increasing your budget before investing.
It’s not always a great idea to gamble but if you think you have the knowledge, taking risks is an essential part of any investment. There still isn’t a 100% working formula that will make everyone rich, so trying one is still the only method.
Mining in 2023
Mining is no longer an option for many coins, including Ethereum, which works differently than a year ago when you could mine it. The new ETH 2.0 is not profitable for miners, and people usually use it for trading and some projects like NFTs. BTC is still the best one to mine, but if you have a small rig at home, you will probably use more electricity than make a profit.
This is why some investors are turning to cloud mining, where you will pay a certain facility to rent hashing power from them, and they will maintain the equipment for you. You won’t make a profit here if the coin you want to farm doesn’t grow in the upcoming years, so do your research before investing and do it when you think it’s the right time before the prices go up.
Non-fungible Token
NFTs became popular a couple of years ago, and there hasn’t been major news about them since the crypto pink era. Even if there isn’t any hype like before, they can be quite useful, considering that you can use them in VR and crypto games.
Metaverse tried to implement them into VR, where you can buy NFTs and use it for your digital land. This was a great idea, but Meta dropped it quickly because it wasn’t the right time for the VR market. It’s expected that this will return in a few years all over again until people start using virtual reality in their daily routines.
They are also used for other digital footprints like music, where you can sell an original song. A great thing about NFT songs is that the payment for musicians will go straight into their pockets instead of having third-party companies that are taking more than 50% of their payment.
Crypto Games
Probably the biggest news in the crypto community is regarding the new games that are coming out in the near future. The first games focus a lot on mining the coins and training in-game items, which can be a bit boring for people that are trying to have some fun instead of focusing on crypto.
When new games come out with great lore that players can enjoy, but the main currency is crypto, we will have more interest in these games, which also means more interest in crypto. Until then, there won’t be any hype surrounding these games. One of the best investments will be in gaming, which is a huge part of our future.
Keep What You Have in BTC
If you are not so happy with what is happening in the crypto market but still believe that something great will happen, you should have your crypto in BTC stored safely. Most people with millions invested will do this because many bad things have happened in the past couple of years.
You can use a hard disk or flash drive to store Bitcoin so no one can reach it, or just open a couple of wallets so you won’t keep everything in one place. People will have to switch to digital currency at one point, but no one knows if it will be one of the current cryptocurrencies.
