Retirement is that dark cloud we all know exists and is slowly creeping over, but fail to acknowledge for most of our lives. The truth is, it will come eventually, prepared or not and chances are, you sleep one day and wake the next, 1 year to retirement. Most people just try to live off their pensions throughout their last days. Unfortunately, there are so many things that could go wrong with such a plan.
Your best bet against retirement is making investments that will yield steady returns. The top of our list of considerations is investing in cryptocurrencies. Here, we’ll teach you how to create a USDT retirement plan on Bitmama, helping you invest in dollars and avoid losses through the volatile nature of the Naira.
Investing in cryptocurrencies
To invest in cryptocurrencies, you have to start by learning thoroughly. Important skills like reading market trends, understanding terminologies, and knowing when to exit and enter are non-negotiable. Horning these skills may be the difference between doubling your money or losing it all. Therefore, we recommend that you first begin by learning from an expert (if you wish to trade yourself).
Although the crypto market has experienced lots of fluctuations, there is yet profit to be made for those who know their onions. Additionally, do well to learn about the several crypto trading strategies to guide you through navigating the landscape.
Investing in stablecoins
Stablecoins are cryptocurrencies that have a value that is pegged, bound, or tied to another currency, financial instrument, or commodity. Essentially, this kind of cryptocurrency aims to provide traders with an alternative to regular cryptocurrencies since they had high volatility. The high volatility of regular cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH) has made crypto investments less convenient for everyday transactions.
Stablecoins are essentially the answers to the volatile nature of the crypto market. While Bitcoin and Ethereum prices occasionally fluctuate, the value of stablecoins is pegged to a fiat asset. If the value of that asset increases, so does the value of the stablecoin. For example, a stablecoin pegged to gold will experience an increase in price when the value of gold rises.
USDT is perhaps, the king of stablecoins based on popularity and the fact that it is pegged to the U.S Dollar. USDT is widely accepted in so many online and offline stores today, making them the easiest choice for those looking to invest in stablecoins.
How to invest in cryptocurrencies on Bitmama
You can invest in cryptocurrencies on Bitmama in either of the following ways:
1. Trading
As the name implies, trading involves the buying and selling of crypto directly through intelligent strategies to make a profit. There are several strategies and techniques that can be used to achieve this like HODL, arbitrage and more.
2. Staking
Staking, on the other hand, is less volatile than crypto trading which largely depends on arbitrage, HODL or other strategies for traders to earn. The specific reward at the end of the staking period is defined and could be in the form of tokens, coins, or interest on coins staked among others.
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How to create a USDT retirement plan on Bitmama
Creating a USDT retirement plan is as simple as purchasing USDT, staking it and letting us handle the rest. Follow the steps below to create a USDT retirement plan:
Step 1: Purchase the necessary USDT
1. Download the Bitmama app for Android or iOS, register and log in.
2. Navigate to the verification page in your ”Account” section. Click on the verification button to submit the necessary documents and verify your account up to level 3.
3. Fund your Bitmama wallet with the sum you wish to purchase your preferred stable coin by selecting “Fund” on the homepage and following the process.
4. Return to the homepage and, select “Buy”.
5. Select your preferred stablecoin from the drop-down menu offering the types of crypto you can purchase.
6. Select the wallet you wish to be debited from (Naira, Cedis or Shellings).
7. Crosscheck all the relevant details and select “Buy” if it checks out.
8. Lastly, your Bitmama crypto wallet will be credited instantly with the purchased stablecoin.
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Step 2: Leverage the Bitmama staking feature to grow your investment.
1. From your app dashboard, select staking.
2. Select staking once again and click on “earn now”.
3. Enter the payment wallet, amount you wish to stake, subscription type, duration and other necessary details.
4. Lastly, click “Submit”.
Sit back, relax and watch your money grow. From this point, it is left to you to design your retirement plan. Note that the more you stake, the higher your earning. Performing this action over time will see you grow your crypto, which you can then convert into your preferred fiat and withdraw at any time.
Good luck in your retirement investment journey and remember – you can start making money on your crypto without trading today. Get started by downloading the Bitmama app on Android or iOS.
