So your new to crypto investing, you started out during the bubble and your only experience is an uptrend and a win win situation is all you know.
You wake up and see your crypto wealth has dropped 20% with no sign of stopping so you open the window and prepare to jump.
There is a solution and that solution is Tether, Tether is a very stable crypto currency that is pegged to the value of the U.S dollar and rarley moves above or below $1. So in times of downward volatility I like to swap my crypto's for tether and wait the storm out, re entering the market at a lower price.Tether is to the crypto markets what gold is to the financial markets a safe haven, also tether claim to have $1 in their bank account for every tether coin in circulation, so it is backed by hard currency.
Check out the chart below the green line represents the price of tether, as you can see it is very stable compared to the orange line of bitcoin.
.jpg)
When in need of tether I use bittrex but I am sure it is available on other exchanges
Hope this helps someone and if it has please give me a follow :)
In short. Don't lose your shit. Hold for long term. Buy on the way down taking advantage of cheaper prices.
Congratulations @londongas! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP