Under normal circumstances, it’s harder to make money during a bear market than in a bull run, unless one wants to explore derivatives and leveraged trading. That situation is a bit different in the cryptocurrency world. Current market conditions are an excellent time to explore staking opportunities for one’s crypto assets.
Bear Markets Are An Opportunity
Contrary to what most people may assume to be true, there are always money-making opportunities during specific trends. Making money in a bull market is relatively straightforward, yet bear markets are very different. Most people see these trends to dollar-cost average investments, which is a more than viable strategy. Bringing down the overall cost of investment leaves more room for future profit.
In the cryptocurrency world, the bear market is an opportunity to make money like any other. Negative returns are never fun to deal with, yet it doesn’t necessarily equal lower volumes. Crypto assets are – by far – more liquid than other financial vehicles, even when prices are going down. Experienced cryptocurrency traders use the bear market to their advantage.
Depending on one’s personal risk tolerance, the bear market lets you:
- go bargain hunting to acquire established or new currencies at a much lower price for speculative purposes
- buying defensively – such as dollar-cost averaging – to keep accumulating as things may eventually turn around
- Explore staking options
That latter option may seem strange, as its returns will also be worth less than during a bear market. While that is true, the initial investment cost to reach the staking “threshold” for certain currencies will also be lower. It is a viable option for those willing to take a medium-sized risk.
Executing bulletproof techniques on Dopple Finance
Perhaps a better option is the combination of several methods outlined above. With the help of Dopple Finance, anyone can benefit from dollar-cost averaging while staking the US Dollar on a high APR decentralized finance platform. Built on the Binance Smart Chain, Dopple prioritizes granted users the opportunity to swap their stablecoins or stake them at the best yield possible.
As things stand, the platform has $49 million in total value locked and a trading volume of just over $1 billion. Current APRs range from 17% and 19%, which are more than competitive rates in both the traditional world and DeFi. Offering such high rates may seem unsustainable, yet one has to remember these are stablecoins being used. Their value does not fluctuate, making them a more favorable option over Ethereum and other traditional DeFi assets.
Imagine if you have $1,000 at your disposal. You turn it into $1,000 worth of USDT, DAI, UST, BUSD, or other assets and passively earn 17% every year. That’s $170 with little effort, just by using an asset that does not fluctuate at any moment. Such an approach is as risk-free as decentralized finance can get in its current form.
Whereas many people see DeFi as an industry with high volatility, solutions like Dopple show that don’t have to be the case. More importantly, their support for staking stablecoins creates an exciting opportunity during bear markets when traditional crypto-assets cannot sustain a stable value. There is always an opportunity to make money in the cryptocurrency industry, which is why it appeals to millions of people globally.
Bringing more use cases to market for stablecoins has the potential to replace traditional savings accounts altogether. Keeping money in a bank account offers virtually no return and will often cost users money. Putting one’s funds to good use through assets that maintain a peg to fiat currencies while earning passive income from it is an appealing opportunity. During bear markets – either in crypto or otherwise – their potential becomes even more outspoken.