How to Beat the Bear Market with Wirex
- We're taking our customers #BacktoCryptoSchool this January
- During the crypto winter, there's plenty of ways to keep growing your portfolio
- Find out our top tips to survive the bear market below
With students heading back to school this January, it’s an important time to remember that adults are also learning new subjects throughout their life. In a relatively new industry, crypto is certainly one where education is key.
So this month, we want to bring our users #BacktoCryptoSchool to teach them a thing or two about the basics of crypto. And if you’re an experienced user, we’re sure there’s still something to learn!
With the crypto winter still lurking, where better to start than by giving you our top tips to help your portfolio survive and even grow!
You might have heard the term ‘hold on for dear life’, but setting your funds aside rather than selling is one of the best ways to ride out a dip in the market.
By moving your funds into an X-Account, you’ll start earning passive income of up to 20% APR on select currencies – no matter how much you choose to save and how long you keep it in for. Want to guarantee the top rate of 20%? Simply upgrade your price plan and tier to unlock sky-high rewards!*
Use the time to do your research
With so many different cryptocurrencies and trading tools available, it can be overwhelming to know where to start. But there’s a huge wealth of information readily available to users with all levels of experience, from crypto influencers giving explainers on social media, to Wirex’s blog offering the latest updates in the crypto world.
Why not put that research to good use and try out DUO, one of our most popular trading products? This dual currency wealth product allows you to earn up to 400% yield by predicting the price difference between two cryptocurrencies. There’s no complex trading strategies, but a bit of desktop research will help, and the best part is that you’ll always get returns in one of the two currencies**. Find out how DUO works here.
Only invest what you can afford to lose
What many consider to be rule number one when giving crypto investment advice, is only invest what you can afford to lose. Crypto is risky business, and whilst it’s volatility can earn investors huge rewards, it can also lose people their hard earned money. Particularly if you’re new, start small with a few cryptos before diversifying your portfolio.
And with Wirex’s Cryptoback™ program, you’ll automatically earn up to 8% rewards in WXT, our native token, just for spending with your Wirex card. That means you can start your crypto journey without actually purchasing any crypto!
Buy the dip
When the markets down, why not use this opportunity to buy some tokens at lower prices? It’s a great chance to try out new currencies, or ones that you think will go back up at a later point.
With Wirex, you can build out your crypto collection by buying and exchanging 140+ cryptocurrencies at the best OTC rates, including popular stablecoins like USDT and NXUSD.
Don’t sell your crypto, borrow against it instead
You might be tempted to sell your crypto when the market is a sea of red to avoid any further losses, but if you’re in need of funds quickly but don’t have time to wait for the prices to go up, why not take out a crypto-backed loan with Wirex Credit.
Simply use your crypto as collateral and take out an instant Wirex Credit line in your choice of stablecoin. You'll also benefit from competitive interest rates (starting from 0%!), zero set up fees and ultimate flexibility. See? There’s no need to cash out your crypto to access extra funds***. Read about Wirex Credit here.
So, there are a few ways to stay afloat in a bear market. Which one will you try first?