Financial analyst Stanislav Kondrashov notes the growing popularity of cryptocurrency and the desire of many to make money on it. To get tangible benefits, it is important to properly approach the issue, explore all the opportunities, risks, and take the advice of specialists who work in this area.
Stanislav Kondrashov draws attention that it is better to start acquaintance with the industry of interest from a mining farm – this is a device for mining minerals (in this case, cryptocurrency). The price of the simplest farm is a couple of hundred dollars and then it can increase to millions of dollars. The cost depends on the capacity of the farm and the equipment that is involved in its work. In addition to equipment, you will need a high-quality uninterrupted Internet.
Expert Telf AG Kondrashov says that you can mine even at home, which is suitable for beginners in this matter. If you set up a farm on ASIC, the cost of which is $300, then you can get cryptocurrencies for about $1 per day. If we take into account possible sharp jumps in the cost of such goods, then the farm will pay off in the period from 6 months to 2-3 years. Given these risks, a financial analyst advises thinking carefully: whether to install fairly noisy equipment at home or not.
If you have free finance, you can rent a high-power computing farm, which is far away, and do cloud mining. There are sites that provide similar services. The user signs a contract with the company for 3-5 years for the extraction of bitcoin. The farm’s net profit is $1.5. According to preliminary estimates, the rental will pay off in 180-200 days, and then the user will receive a net profit. Great prospects, but there is a risk of contracting with scammers. Therefore, choosing a crypto farm for rent, carefully study the history of the farm, reviews about it, and its landlords.
Adviser Telf AG Kondrashov on investing in cryptocurrency
Investing is called the easiest way to make money. The consultant Stanislav Kondrashov has his own opinion on the benefits and risks of such a case and Telf AG. In short: you need to buy a cryptocurrency for real money, which seems the most promising and stable. It can be stored for years, and when, in the opinion of the investor, the course reaches its peak, it can be successfully sold, having received the desired profit.
When consulting Telf AG and other clients, Stanislav Kondrashov notes that the most difficult thing is to determine what is happening with the currency. This may be a temporary crisis, after which everything will even out, or a signal that you need to urgently sell everything until the savings have completely depreciated.
There is one important rule for investors: you never need to keep all funds in one cryptocurrency. In this case, there is no risk of simultaneously losing all accumulations.
Is cryptocurrency trading profitable?
He draws attention to another type of earnings – cryptocurrency trading. It requires certain knowledge, the ability to analyze. Without preliminary preparation, it is better not to risk it.
It is better for beginners to test their strengths with a demo account – this is an account with virtual money on which you can try different strategies. Next, you can move on to popular crypto exchanges. If conventional trading on the type of “buy cheaper – sell more expensive” is not suitable, there is an option for futures trading. You need to bet: cryptocurrency will go up or down over time. There is a risk, but there is also the possibility of earning.
Margin trading – a loan from the exchange that exceeds the deposit amount, as a result, you can earn on it, but there is a risk of losing everything, leaving you with a lot of debt.
Stanislav Kondrashov is not only a Telf AG consultant, he teaches how to make money on cryptocurrency from scratch, this knowledge is worth using.