NEO profit: is it just a hype? Making a profit out of any cryptocurrency is usually broken down in two strategies. Although, Neo opens up new opportunities through its uses. If you’re planning to expand your investment plan, this should be one of the best choices.
NEO Profit methode 1: Long term investment
The by far most popular and less risky strategy is to simply hold on to your cryptocurrency for months or even years, until it has dramatically increased in value. Imagine if you had bought Bitcoin for pennies a few years ago, your return on investment would have been immense. This strategy is colloquially known in the crypto communities as “HODL”. While Neo is a riskier bet than Bitcoin, it can face great growth in the future.
NEO Profit methode 2: Day trading
A second method, that is not recommended for novices, is day trading volatile cryptocurrencies. Usually, this is done by bots, because if you want to do it manually you would be plastered to your computer most of the day. Day trading is basically buying low, selling high, but in smaller intervals, say 5-15 minutes. The general consensus is that it is quite risky and not really worth the effort. Unless you are extremely experienced and know what you are doing. Fortunately, given the high trading volume, Neo creates really nice swings in terms of minutes.
NEO Profit methode 3: Generating GAS
Outside of the two common methods of investment, you also get rewarded in the NEO ecosystem for holding NEO coins in your wallet. By holding NEO coins, you generate a special unit called “Gas”, used to execute any transaction or action (like smart contracts) on the platform. Due to this utility, Gas is always in demand, and you can sell it on exchange to generate a profit.
NEO Profit methode 4: Participating in ICOs
Lastly, it is now possible to use your NEO coins, much like Bitcoin and Ether, to buy tokens in presales or ICOs. With an expanding ecosystem in China, Neo overtakes Ether as the first choice. And this is just the beginning, with its versatility, you’ll see more and more ICOs accepting Neo.
Of course, everyone has their own personal trading style, and risks they are willing to accept. The main thing to keep in mind is how much you can afford and feel comfortable with losing, hedging that risk. Most of all, keep your emotions out of your decisions!