It's probably not a surprise to hear the whales have their own set of tricks and tools they use to maintain their status at the top of the food chain.
One of these tricks you likely haven't heard mentioned, is how they can turn what they're currently holding into a lot more, fast, without getting any extra funds.
What If You Could Use Bitcoin, To Buy More Bitcoin?
This is exactly what they figured out how to do. Sounds crazy, but it's possible. It works by playing the crypto lending market to their advantage.
- Use your Bitcoin to get loaned USD.
- You remain the owner of the Bitcoin, the lender is simply holding it as collateral.
- Use that USD to purchase more Bitcoin.
- Use that Bitcoin to get another USD loan.
Users in the USA however will need to use a service like BlockFi.
Using them as the platform in this example, and $500 as your initial amount (0.07 BTC) running this trick 10 times will bring you to $3253.
Yes, that's real - $500 turned into $3253 (0.070 to 0.455880) without using anything for funding but the original $500.
What once took a day of work, now in the push of a button!
YouHodler noticed how many people were using their platform to do this, spending hours taking out one loan after another.
So now, it's literally a feature - do it all in 1 press of a button.
Go to their website and head over to the "turbocharge" option, this automatically and instantly flips your investment into more Bitcoin from 3 to 10 times, you decide.
Their interest rate tops out at just 3%! Each loan this number goes down, until there is none.
To state the obvious, you're betting on the price of Bitcoin going up in the 30 or 50 days you have the loans.
However - you can pull out any time, so don't risk it going up, and back down. Close out your loans and take your profits when it's up, start again when the price stabilizes. If a bull run is clearly coming - go crazy with this maximize profits like never before.
For those in the US, there's no automated tool to do this yet. But if you'r willing to invest some time, you can accomplish this with services like BlockFi.
Author: Matt Miller
London News Desk