First of all, on behalf of the entire WANT editors, we would like to wish you a very Merry Christmas! The Christmas season is very cozy, but often expensive. Therefore, we share 5 tips to make money with Bitcoin and crypto between Christmas and New Year. This way, we hope to offer you a fitting Christmas present as a thank you for following us over the past year.
Of course, we understand that as an investor you are also curious about the live Bitcoin price and the prices of the top 25 crypto during Christmas. Also during Christmas, our colleagues at Tradeincrypto.com offer you the opportunity to view live crypto prices 24 hours a day.
Now that you know where to go to view live crypto prices even during Christmas, it’s time to share our five tips that will help you make money with Bitcoin and crypto between Christmas and New Year’s Eve.
5 tips to make money with Bitcoin and crypto between New Year’s Eve
If you’re looking for ways to still save money between Christmas and New Year’s Eve between
1. What returns and costs did you make last year?
The saying goes ‘measuring is knowing’ for a reason. That’s why it’s good to make an overview of your activities in crypto in the past year.
Which coins did you invest in, what returns did you get? Which costs did you pay to your crypto brokers? Which tools do you use? All these kinds of questions can help you get maximum benefit from the following crypto tips.
2. Are you using the right crypto exchange?
Once you’ve inventoried everything, it’s good to take a look at which crypto exchange or exchanges you’re using. Are you still satisfied with their service? Have you created a second account to continue trading if something goes wrong on your base account?
In the Netherlands, Bitvavo is one of the larger crypto exchanges. If you check the price of Solana (SOL) through our colleagues, you’ll see that you can easily buy SOL through Bitvavo. This is now even more advantageous since they don’t charge any transaction fees over the first EUR 1.000,- even during Christmas.
Why we take Solana (SOL) as an example? This is one of the 10 most popular crypto coins for the holidays.
3. What trading tools do you use? (and which ones do you really use?)
Every crypto investor comes to the thought of using a crypto tool at some point. A good article or a clever advertisement made it easy to create an account. However, many of these subscriptions are never used.
If you look critically at your registrations it is wise to remove all unused crypto subscriptions and tools. If they are free tools you will at least save yourself endless commercials.
Often tools work with trial periods. If you don’t cancel your subscription they automatically charge you. That’s a shame if you don’t use the services, but still pay the subscription fees. Ending these phantom subscriptions is one of the ways to save money.
While you’re at it, it’s a good idea to immediately look at the subscriptions you do use. There may be some tools that overlap by extending or limiting their functionality. Can you save extra money by making the most of one tool and ending the subscription to another?
3. Limit your losses and optimize your profits
This tip may seem like an open door, but many investors are still surprised by sharp price drops and price increases. One of the reasons is that the crypto market runs 24 hours a day, while investors are not available 24 hours a day.
A convenient solution is to use a cryptobot. You can set this tool according to your own criteria. As soon as the market situation meets your criteria, the cryptobot will automatically execute the buy or sell decision you entered. If you are not ready to create your own strategy you can also follow the strategies of successful investors.
Not surprisingly, trading bots are increasingly being used in uncertain market conditions. Our colleagues at Tradeincrypto.com will gladly explain more about this. Of course, in this time of giving, Cryptohopper also gives a nice gift to new subscribers.
4. Get the most out of your tax return
We can’t make it any funnier, but you also have to pay taxes on your crypto assets. In your tax return you have to declare the value of your crypto assets on the reference date. This date is 1 January of each year. You can calculate this value in Euros or dollars by noting the price of your crypto coins on January 1st and then calculating the value on January 1st.
We are not a tax advisor and everyone’s individual situation is different, so we certainly do not give advice on this point either. We can imagine that, depending on your situation, it is wise to do certain transactions on 31 December, 1 January or 2 January. Of course you can discuss this with your tax advisor.
5. Get into crypto derivatives to maximize your returns
Finally, you can make money between Christmas and New Year’s by delving into other ways of investing in crypto. For example, you can profit from price increases by applying crypto options or crypto leverage trading. There are also many other ways to profit from crypto without buying coins directly.
One of the parties that specializes is the renowned Huobi. They are busy conquering their position in the Dutch market. Our colleagues at Tradeincrypto.com have taken a close look at this company and are happy to introduce them to you. Of course they won’t forget to mention the attractive bonus.
BONUS STIP: WANT to make money with Bitcoin and crypto in 2022 as well
Of course, we’ll be here between the holidays and in 2022 to surprise you with daily Bitcoin updates and crypton news. If we are a little less modest, we will give you a bonus tip to follow us in the coming period and year to be the first to know about the latest news and crypto prices. By the way, through our sister site MANNERS.nl we also like to take you into other investments. Do you already know our price expectations?
Do you want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real-time. Are you interested in other investments besides crypto? Then you might want to read our weekly price forecast.
Note: We never give financial advice, so our contributions should not be interpreted as such. Always do your own research and decide rationally if, when, what and how much you want to invest.