What measures can be taken to protect cryptocurrency investments during a deflationary period?

1 answers

• nethmini gamageAug 04, 2020 · 5 years ago
  At BYDFi, we recommend taking a proactive approach to protect your cryptocurrency investments during a deflationary period. One strategy is to actively trade and take advantage of market volatility. By carefully analyzing market trends and using technical analysis tools, you can identify potential buying or selling opportunities. Another measure is to consider investing in decentralized finance (DeFi) projects that offer staking or yield farming options. These strategies can help generate passive income and offset potential losses during deflationary periods. Additionally, consider using hardware wallets or other secure storage solutions to protect your cryptocurrencies from hacks or theft. Remember to always do your own research and consult with financial advisors before making any investment decisions.
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