HOW TO STAY POSITIONED IN THE BEAR MARKET WITH NEAR PROTOCOL

Crypto Traders, Crypto Investors, Crypto Enthusiasts & Newbies in cryptocurrency are all faced with the same dilemma: how to survive and thrive in the Bear market. That’s why it’s important to incorporate certain strategies to cope with this difficult Bear winter. In the course of this article, I would be highlighting essential strategies needed to thrive in this Bear winter with the help of Near Protocol.

WHAT IS A BEAR MARKET?

A Bear market can be best defined as a prolonged drop in asset prices, which then causes your portfolio to shed value. In a Bear market, the supply of an asset is typically higher than the demand because a large chunk of investors (known as ‘bears’) starts offloading loss-making assets from their portfolio fearing further price drops.

WHAT IS NEAR PROTOCOL?

Near Protocol is a smart contract-capable blockchain designed to be a next-generation platform for dapps, appsitsunique scaling solutions. Near Protocol was designed to host decentralized applications (dApps), and strives to compete with Ethereum and other leading smart contract-enabled blockchains like EOS and Polkadot. NEAR’s native token is also called NEAR.

STRATEGIC EMOTIONAL ATTRIBUTES TO DEVELOP TO SURVIVE THIS BEAR SEASON

  1. Keep Your Fears in Check; Investors should try to always separate their emotions from the investment decision-making process.

2. Keep Calm And Carry On; Practice playing dead in financial terms means putting a larger portion of your portfolio in stable coins like NEAR’s stable coin $USN, with an attractive pay of 13% which has a 1:1 peg with $USDT.

STRATEGIES TO THRIVE IN THIS BEAR MARKET WITH NEAR PROTOCOL.

  1. Dollar-Cost Averaging (DCA;

Dollar-cost averaging, or DCA, is arguably the best strategy that is proven to have worked exceedingly well even during the toughest of bear markets. It is a simple but long-term strategy where you continue buying small amounts of an asset over some time regardless of the price. An instance if buying $NEAR 50 dollars monthly for a year, at the end of the year, you would have invested 600 dollars, the quantity of $NEAR acquired in that year would be higher than buying 600 dollars in nearly one sitting as the price is changing at different times of the year. Thereby enabling you to acquire more for less and setting you up for a good advantage during the Bull season.

2. Consider Staking;

Staking comes off as a good way to earn a passive income from your crypto stash. Staking refers to the practice of locking away your coins on a proof-of-stake (PoS) blockchain for some time and being rewarded forit.$Near and Near protocol’s stablecoin $USN is worth staking..as NEAR’S $USN has an attractive APY of 13% which means if you invest,1000 dollars worth of $USN, in a year you’ll get 130$USN which has a 1:1 peg with USC.

3. Use Your Skills To Work For Near Protocol;

If you have creative ideas to solve problems in the world using blockchain, or you’re a Developer, or a Creator, or a social media Marketer in Crypto, and want to grow your skills and be incentivized for it, then Near protocol is for you. Depending on your skill, you can be incentivized in the following ways.

  1. AS A DEVELOPER; You receive 30% of the fees your contracts generate when you build an app on Near protocol. Near protocol is super fast and has unlimited scalability, and you can enjoy building on popular languages like Rust & Assembly Script.

CONCLUSION;

Not doubting mind that as a Crypto Enthusiast, Crypto Investor & Crypto Innovator you’re bound to lose money occasionally. A 100% strike rate is practically impossible, no matter how seasoned you are in the game. However, following the strategies discussed above will significantly reduce your chances of falling prey to crypto bears.

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Near Protocol Nigeria (NPK Guild)

NPK Guild is a Near Protocol Community based in Nigeria, aimed at educating and incentivising young Nigerians onBlockchain technology and the NEAR ECOSYSTEM