How to survive a bear market

Bear market, crypto winter… these less than confidence-inspiring terms have been thrown around a lot lately. But it’s not all bad – there are a few things you can do to help you get through tough times.

Need a bit of background information to get you up to speed? Start by checking out our previous blogs on the difference between bull and bear markets and how to adjust to them.

So, now you’re all caught up, here are a few ways to survive – and thrive – in a bear market.

1. Keep calm and ignore the FUD

It’s only natural to experience FUD (fear, uncertainty and doubt) during a bear market. But in order to get through it unscathed, it’s important to put that aside and carry on. Whatever your strategy is, FUD only succeeds in adding to your anxiety. And no-one needs that.

2. Think long-term

It can be easy to get caught up in daily market checks and hourly rate refreshes when you’re worried about your crypto. But for your sanity’s sake, it’s probably best to stop torturing yourself and check back in at a later date. If you’re in for the long-haul, then don’t give up too soon.

3. Don’t look back

Whatever’s happened until this point, there’s no use dwelling on the past. The crypto industry is such a fast moving one that you could look back at any stage and think “those were the good old days” - even when you’re talking about last month. So, stop trying to turn back time and look to the future instead.

4. Turn to DeFi

If the market’s really getting you down, why not change tack and try DeFi? There are a number of ways to benefit from DeFi, including depositing tokens in a platform or protocol to earn a passive income. One of our favourites is Nereus, a popular decentralised lending protocol that lets you earn fees and rewards in return for locking your WXT.

5. Give X-Accounts a go

If plain and simple HODLing isn’t doing much for you at the moment, why not try earning interest on your crypto? We have just the tool for you, too – Wirex X-Accounts lets you move your tokens into it and immediately earn unbelievable rates on them. We mean it – you can rake in up to 20% AER, depending on your price plan and chosen currency. That’s sure to give you some peace of mind.

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Fully agree with this tips and keep your kalm!:sweat_smile:

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Simply a Wirex X-account is the solution!

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Xtras 2.0 is a very good thing guys :heart:

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I agree buddy :heartbeat:

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Yes :raised_hand::+1:

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