The world of cryptocurrencies has changed a lot with the advent of blockchain technology. The Ethereum blockchain technology ruled this virtual world, and now different competitors are coming up in the competition looking to make their place in the market. While Ethereum was all about the currencies, it opened doors for several things like the NFTs.
However, there were some issues with that. Now a new entry in the market is the Refinable coin that is said to be working on the Binance Smart Chain. The best part about it is that you can earn money using it. So, here we will be sharing everything you need to know about it and earning from it.
How Refinable coin is going big with NFTs?
One of the biggest issues about NFTs with older technologies was the high transaction costs. Refinable comes to solve this issue with the help of Binance Smart Chain. It means that the costs will be lesser as compared. All the hype that NFTs currently have may make an even more successful platform and bring more earning opportunities for you.
Tips to earn profit with Refinable coin.
Nobody knows how much success do Refinable and its coin manage to get. However, one clear thing is that it follows the same blueprints of Ethereum, meaning that there are several earning opportunities. Below are some tips for you that you can use to earn profit with this coin.
Buy popular NFT and sell at higher rates.
As mentioned above, the rates for different platforms to buy and sell NFTs are pretty high. Although the fees or commissions that artists get are logical, the other fees are not logical at all, and they only end up increasing the price of NFTs. With Refinable coin and Refinable, you can easily buy NFTs without a lot of additional platform fees to pay.
In this way, the NFTs will cost you a bit less. Now that you have bought some NFTs, you can use the same platform to sell them according to your demand which will surely bring some profits for you.
Use traditional buy and hold strategy.
The traditional buy and hold/store strategies are amazing, especially when we consider cryptocurrencies. Bitcoin is an amazing example of this phrase. Although there were some major dips, it is going up and up now.
The thing about this coin is that it is currently new, and if you buy it for cheap, and then the prices go up, you can earn high profits only with the help of buy and hold strategy. There could not be a better experience of earning from this coin as you did nothing but hold the coins.
Trading Refinable coin
If you are not comfortable buying and holding, you can go for the trading option. It goes the same as stock trading, where you buy something, and after some time, you sell it. You can do the same with the coin where you buy it, wait for the value to increase, and trade for something else.
That something else can be some other cryptocurrency, NFT, or any other commodity like gold or else. In this way trading, the coin will be highly profitable for you.
Start coin lending
One of the best things about blockchain technology is the agreements that can be easily signed, and they are not that easy to void. With Refinable and its coin, you can start coin lending. Just look for someone who needs some coins.
Agree upon a profit rate, and you will get that profit regularly as long as you are lending your coins. As the borrower will pledge their holding of cryptocurrency as the collateral in the agreement, there are no chances of you going in loss.
Minimize your trading costs
So, you are trading a Refinable coin, but you cannot make the most out of it? One of the major reasons is that you are not doing things right. It is not true that if one platform is working for you in one case, it will work the same way in the other cases. The trading cost difference for different currencies is a huge issue.
With this coin and Refinable that works on Binance Smart Chain technology, things can be made extremely beneficial for you. In this way, you can trade this coin and pay the least trading charges bringing several benefits.
Bring diversity to your investments.
One of the biggest mistakes you can make is investing all of your investments in one thing. Let’s say that you will invest $1 million, and you invest it all in Bitcoin or Refinable coin. It may be highly beneficial, but the chances of loss are equal.
So, what you need to do is invest in a diversified way which means you need to invest in different coins. This coin is very simple, easy, efficient, and cost-effective because of easy and cheap trading options. In this way, you can bring diversity in your investments and invest in the following coins:
- Refinable Coin
- Binance Coin
- Litecoin and more
By creating and selling your own NFTs
If you think that you are better on the creative end, you can create and sell your NFTs using Refinable and its coin. As it brings the platform that centralizes all of your NFTs and brings lots of amazing features like:
- Simple and easy NFT trading
- Discovery options
- No coding needed
- Optional fees
- Cross-chain compatibility and much more
All of this means that using Refinable and its coin to create and sell your NFTs will be a highly profitable option because of cheaper and better options.
While there are still some people who do not believe in all this virtual world and the buzz created in it by different currencies as well as NFTs, it can be the right opportunity for you to make a fortune with a few of your right moves. Just consider the tips shared above, and you will be more than good to go and start earning money as well as profits using Refinable coin.