You must have heard about 'Black Friday'. Yes, that period when merchants dole out countless discounts on products and services for any customer.
Black Fridays come right after Thanksgiving but are not the only periods when you can buy products for less than their regular prices. Cyber Mondays, like Black Fridays, refer to the Monday following a Thanksgiving weekend when online retailers dish out premium discounts and other offers for their customers.
The notion behind the Cyber Monday bonanzas is to encourage online purchases. Cyber Mondays are another great opportunity for the crypto community to grab massive discounts and offers.
Of course, we get it — Black Fridays are often hijacked by overzealous retail marketers who want to make you feel like you've missed out on life's biggest offer if you don't spend a fortune shopping.
However, it is important to know investing over spending would always be the best decision. Instead of letting thousands slip from your hands to grab that latest mobile phone or that killer 8k television you've always wanted, you can take advantage of a few crypto cyber Monday deals that could turn out positive for your finances. Remember, we're in a chaotic period with surging inflation, and smart investment decisions could be a big game changer for you.
This article will take a quick walk over some of the best cyber Monday deals to look out for in November. If you can make up your mind quickly, you can lock in your spot as one of the early birds. It's like being ahead of everyone else in the queue at Walmart on a black Friday.
What are Cyber Monday Crypto Deals?
On Cyber Mondays, there are often a lot of discounts for online products and services. Major brands, including crypto-based companies, offer users tons of discounts and bonuses. Some of the best crypto deals include coupons and gift cards for users in different categories. The list goes on and on and even extends to the other spheres of the crypto industry.
Here are the top five deals to keep an eye on as Cyber Monday approaches.
- Exchange Welcome Bonuses
One of the easiest ways to grab some of the best crypto deals on Cyber Monday is to register on crypto exchanges.
Most of these exchanges offer coupons you can use to access these discounts. Several exchanges that offer welcome bonuses might pay as much as $1,000 for every signup. You can easily unlock easy crypto investing without biting into your pockets by leveraging these offers.
- Staking Rewards
If you're already signed up on your favorite exchanges, you can still enjoy massive increases on your staking rewards. Higher yields on staking are one of the best cyber Monday deals offered by crypto exchanges today.
Some exchanges offer as high as 80% on your staked funds. This is not often obtained on usual days. Not only would you earn higher interest when you stake, but most exchanges also offer much better interest when you save your crypto tokens with them.
- Cheaper Trading Fees
Exchanges offer maker and taker fees discounts during cyber Mondays. This is a great way for traders to take on trades without fear of significant cuts on PNL (profits and losses).
Most crypto exchanges might offer 0 fees for certain traders within a specified period. The reason for this is to encourage them to keep trading on their platforms while getting familiar with other features that are available to them.
- Prize Pools
Prize pools are an industry-standard event where most exchanges offer large sums to select users to take a bite of. These prizes can even cost millions of dollars for the lucky winners.
Prize pools are common on popular exchanges like Binance, Kucoin, and Huobi. For users to get selected for a prize pool, they'd have to perform certain tasks or reach a specific threshold of their activities on the platform.
- Buying Crypto on Discount
So far, the crypto market has been on a decline. Yet, this does not mean investors are not making huge investment returns. Even if you had bought Bitcoin in 2022 at the price of $9,545, by today, your investment would be well over 110% based on the current price at the time of writing this article.
Bitcoin hit an all-time high of $68,9990 in November 2021. Your $9,545 investment from 2020 would have been up by 550%!
But hey, the opportunity to grab discounts is here again. Bitcoin has declined to $20k currently, and most investors feel the next uptrend rally would be epic for the leading crypto asset. Aside from Bitcoin, a myriad of other altcoins are down as well.
Most altcoins like Cardano, Dogecoin, and Solana have lost close to or more than 90 percent of their value from their peak. This means that Cyber Monday started early enough for investors.
Taking advantage of discounted cryptocurrencies might not guarantee fast returns. However, a long-term investment might benefit you when the market eventually rebounds.
Will My Investments Pay Off?
It's quite a herculean task to tell what the future holds for investors at this time. However, an investment in crypto within this period should be made strategically and with long-term benefits in mind.
You mustn't expect it to be a get-rich-quick scheme but a subtle approach to reasonable costs. Before you purchase any crypto, ensure you do proper research and understand the risks involved. We advise that you leverage a good bankroll strategy while making your investments.
Conclusion
Cyber Mondays, black Fridays and other periods of discounts are not exclusive to brick-and-mortar outlets. Crypto lovers can take advantage of huge crypto exchange offers and discounts to earn more and spend less when they trade, save, or stake their digital assets. Above all, purchasing solid cryptocurrencies within this period might turn out to be a good investment decision for people who are looking to own valuable digital assets in the future.