In the first half of 2023, crypto impressed the world as one of the top-performing […]
In the first half of 2023, crypto impressed the world as one of the top-performing assets. Despite its success, the industry remains in its infancy, with a history spanning just over a decade. High volatility is a defining characteristic of the crypto market. The wild price swings create challenges for miners, destabilizing cash flows and hindering their efforts to expand and optimize mining operations.
In crypto mining, earnings depend on prices, which rings particularly true for beginners. As newcomers chiefly focus on fast payback, rather than hoarding coins, their profits are subject to daily price fluctuations. At times, bullish crypto events would catalyze prolonged market upswings, instilling confidence in miners about the future value of their mined coins. They still need funds to cover daily O&M costs and power bills.
Miner A is mining Bitcoin, with each BTC valued at 30,000 USDT. Having mined 10 BTC, Miner A urgently needs cash to pay for electricity, but he does not want to sell the coins, as he is confident in the future value of BTC. With Crypto Loans, Miner A can collateralize a 100,000 USDT loan from ViaBTC with 10 BTC to cover the electricity bill. Since there is no specific due date, Miner A could choose the repayment time based on his financial situation and the daily interest rate.
Of course, hedging is not without risks. Hedging tools come with their costs and complexities. Plus, a learning curve is also required. Furthermore, in a complex, ever-changing market, unforeseen movements may lead to unexpected outcomes, which means that hedging strategies could fail. As such, before attempting to mitigate risks with hedging tools, beginners should, first and foremost, thoroughly understand how these tools work and the risks involved.
Beyond that, beginners should also do more market research to assess blockchain trends and understand market movements. The analytical skills, coupled with hedging tools, enable effective risk management and minimize the uncertainties from market volatility.
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