7 Pro Tips to Streamline Your Crypto Operations During Bull Cycles

The crypto market is on fire as Bitcoin (BTC) and other assets keep popping up green, glowing candlesticks almost daily. This trend continues to spark renewed interest among traders and investors as they look to take advantage of the market's growth.

Capitalizing on the bull cycle requires strategic planning and efficient tools. This is because it is easy to get carried away by the hype and make costly mistakes such as buying the top. To prevent this from happening, here are seven tips to help every crypto enthusiast stay on top of the market and make the most of this bull cycle. 

1. Stay Ahead of Emerging Market Trends

With bull runs come new market trends—from meme coins to AI tokens to DePIN (Decentralized Physical Infrastructure) assets. Keeping abreast with these trends positions crypto users to tap into these opportunities early. 

For instance, those who hopped into the 2021 meme coin trend early were made multimillionaires. Dogecoin (DOGE) soared by 15,000% between January and May 2021, while Shiba Inu (SHIB) printed a whopping 43,000,000% in the same year. These instances demonstrate how quickly trends dominate the crypto market and how early adopters can be the biggest winners. 

Tools such as CoinPaprika, NOW Tracker, LunarCrush, and Messari can be used to track trending projects, top-performing tokens, and social sentiments.  

2. Have a Strategy 

Even when it seems like everything turns to gold during a bull run, it is still important to have a clear trading or investment strategy. Doing this eliminates emotional actions especially since the bull run is associated with FOMO and other emotional-driven decisions.

Having a clear strategy involves assessing one's level of exposure to a trend, determining one's risk appetite, selecting one's preferred assets to invest in, and determining one's buy strategy (lump sum vs dollar cost averaging).

3. Streamline Operations with Multi-Functional Tools

The crypto market is volatile and fast. And it's twice as volatile and fast during a bull market. Thus, to take advantage of the market, it is important to use efficient platforms that save time and reduce friction. For example, a go-to option would be a wallet that provides multiple blockchains and assets, fiat-to-crypto options, and seamless swapping. These features would quicken decision-making and execution.

4. Diversify Portfolio to Manage Risks and Maximize Opportunities 

As the saying goes, never put all your eggs in one basket. This has never been truer than in a bull market. Aside from capturing profits from different assets, diversifying a portfolio mitigates risks. So even if one is a Bitcoin maxi, it is still necessary to look into other assets such as promising altcoins, stablecoins for hedging, and trend-driven tokens like meme coins or NFTs.  

Also, it is imperative to note that diversifying a portfolio requires having an efficient wallet that will allow one to manage, monitor, and rebalance their portfolio effectively. 

5. Delve into Passive Income Opportunities 

The crypto market is not all about buying and selling. Through DeFi protocols, it offers other earning opportunities such as various rewards for liquidity provision. Platforms that give access to DeFi protocols allow users to lend, borrow, or participate in yield farming on networks like Ethereum, BSC, and more. 

6. Anticipate Market Corrections 

As mentioned earlier, a bull market is a very volatile one. Thus, the candlesticks wouldn't always glow green. Usually, a bull market goes this way:

• Bitcoin moves

• Ethereum follows

• Altcoins join the party

• Mid-cap coins follow suit

• The market corrects 

• Micro-cap coins pump

• The market trades sideways

• Meme coins make moves

• The market goes red

• Fear and panic heighten 

• The big dump happens

• The cycle repeats

Knowing this cycle is important so one is not caught off guard. So, as mentioned earlier, having a portion of one's portfolio in stable assets is another effective way to guard oneself against sudden pullbacks.

7. Always Be Informed

The difference between a profitable crypto user and one who is not is information. Knowledge is that safe-haven asset that protects all other assets. Hence, it is key to stay updated with market insights from reputable sources and engage with other community members in online platforms such as Telegram and Discord. 

NOW Wallet: The Effective Tool For Efficient Crypto Management  

For those into the current bull run, NOW Wallet stands as a reliable solution for streamlining their crypto operations. Its services cater to storing, sending/receiving, buying/selling, swapping, and staking digital assets, and even connecting to decentralized applications (dApps). NOW Wallet also offers non-custodial access, multi-currency support, and proactive customer support service to help users navigate this bull run successfully. Here's an overview of its key features.

1. A Multi-Functional Wallet 

NOW Wallet is that versatile wallet perfect for the bull run. By being non-custodial, users have total control over their assets. To protect their privacy, they do not need to undergo any registration or KYC procedures if making crypto-to-crypto transactions. 

However, users would need a KYC verification when buying or selling cryptocurrencies for fiat. This is because NOW Wallet's fiat partners mandate identity verification before completing exchanges. Yet, the wallet’s integration with third-party payment processors enables users to exchange over 60 fiat currencies to cryptocurrencies directly within the app. They can buy and sell crypto using the most popular payment methods like Mastercard, Visa, Apple Pay, Google Pay, or bank transfers. 

Besides these characteristics, other standout features include:

• Support For Different Chains and Cryptocurrencies: Users can effortlessly manage over 50 coins and 15,000+ tokens, including the OGs like Bitcoin (BTC) and Ethereum (ETH), stablecoins such as Tether (USDT), privacy coins like Monero (XMR), and meme coins including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). These assets are spread across different blockchains such as Ethereum, BSC, Polygon, and AVAX C-Chain, among others. Users can also add custom tokens from NOW Wallet’s supported EVM-compatible blockchains, as well as from the Tron network.

• Built-In Swaps: Users can seamlessly exchange their assets without leaving the app. Thanks to its integration with the ChangeNOW instant exchange service, NOW Wallet provides the cross-chain swap feature, allowing for fast, low-barrier, and transparent crypto exchanges between different blockchain networks. So for users looking to cash in on a profit or those wanting to diversify their portfolio during the bull run, this extensive swap functionality provides a veritable portal to do that.

• Cross-Platform Compatibility: NOW Wallet is compatible with mobile (iOS/Android) and desktop (macOS, Windows, Linux) devices. This makes it easy for users to access the wallet at any time and at any place, even if they are on the go.  

• Support for NFTs: NOW Wallet provides an intuitive dashboard for managing NFT collections. Users can store, send, and receive their digital collectibles alongside cryptocurrencies. 

• Pro benefits: To enjoy a more personalized wallet experience, users can sign up for the ChangeNOW Pro version through NOW Wallet. Whether opting for the free or paid plans, users unlock various benefits, including cashback rewards on each transaction, a set number of AML checks, the ability to earn interest through unlimited crypto loans, and private webpages for receiving crypto funds.

Generally, NOW Wallet simplifies complex processes, making it easier to act swiftly during market opportunities.

2. A Tool Integrated with DApps

DeFi protocols become even more popular during bull markets. These protocols offer lucrative opportunities such as yield farming and lending. To give users access to these protocols, NOW Wallet has a WalletConnect integration that allows users to scan a QR code to gain quick access to any dApps on Ethereum, BSC, Polygon, and other networks. 

Furthermore, users can benefit from the wallet's earning features by staking Proof-of-Stake (PoS) tokens such as Tron (TRX), Binance Coin (BNB), NOW Token (NOW), Solana (SOL), Cardano (ADA), and more. This creates an additional income stream for those seeking to effortlessly multiply their gains during the bull market.

Summary

The ongoing bull run is an exciting opportunity for crypto investors and traders. However, they must be careful to ensure that they don't get carried away by the excitement. To do this, they must streamline their operations by staying ahead of trends, diversifying their portfolio, and using efficient crypto tools—of which NOW Wallet is one. 

With its robust features, NOW Wallet helps users maximize their gains during this bull cycle. It supports a diverse range of cryptocurrencies, thus widening the opportunity for crypto enthusiasts to capitalize on the current uptrend.

However, while NOW Wallet offers compelling solutions and opportunities in a bull market, the main focus for users should be to align their trading or investment strategies with market movements whilst ensuring they are prepared for the volatile dynamics of the market.