My crypto-investment strategy
I'm not an expert at TA or market behavior, I don't know too much about how blockchain works. Still, I understand trends and human behavior pretty well and considering my short time in this space I know a lot of coins, what makes them special or redundant and some of the news surrounding them. So I think I'm pretty capable of making good decisions as far as what crypto I bet on. I thought I'd share my strategy, just in case anyone was curious. Though at the moment, it's hard to lose with crypto, I think it's a pretty good strategy.
I am in no way a financial adviser. Hot cofefe is also hot.
"Only invest what you can afford"....or if you can't afford anything, don't invest.
Up until 2 months ago 100% of my crypto was EARNED here at steemit. I did put about $400 USD in recently, just because the market was so low, but that's it. This means I am not freaking out when the price goes don't I never panic sell, and in the end I'll be happy no matter what.
Step 1: Dipping my toes in : BTC
I started off, like most people, with bitcoin. It's important to have some BTC, most people will tell you because it's the safest bet. At this point, I personally feel like diversifying among the top 20 is a safer bet then putting everything into BTC, but there is a chance BTC will hit a million, and you want to have some just in case it 100x's again. It is the coin with the most recognition and the most likely to permeate into all aspects of society. It's also the top of the charts so if it probably isn't the easiest way to win big overall because some other coins have more room to grow. There is a small chance that some other coin could beat BTC some day too, though it's hard to imagine right now.
Step 2: Safe coins / Shopping coins (LTC ETH etc.)
After that I made sure to pick up some coins that were considered safe at the time. ETH and LTC and Dash seemed like the obvious choices. I saved up those to the point where BTC was 50% and these made up the rest. Since then Dash and ETH have still not recovered as well as most of the altcoins have. LTC occasionally shoots up like crazy and then falls back down. LTC has essentially become my "shopping coin", like a real currency, for buying alt-coins on exchanges so i make sure to have some to use when the price shoots up or when something I want is extremely low.
Currently I don't hold ETH or Dash, I've exchanged them for EOS and Neo which I think are just as safe, at least in the short term and have more potential for growth as long as ETH has scaling problems. I think Stellar and Cardano make other good diversifying safe coins, maybe Monero too, being the largest privacy coin.
Step 3: Diversify Part 1 (mid- caps)
This is where I really branched out. I bought $20-$100 in about 20 different coins. Some really paid off, and not always the best. I started with random coins that I knew something about, coins that I heard intelligent people say good things about and which seemed legit: Icon, Substratum, Nano, Wabi, Ethos, Nuls, Walton, and BAT are some I started with. Some hype-coins (arguably) non-scam coins like Verge and Tron are also fun to play with. Just buy low and sell high, and hodl if you think you like a coin (Substratum I really believe in so I won't be selling it). I usaully take some profits and buy another coin if the profits are above 25% comparative to BTC. I also try to know enough about each coin that I buy.
Step 4: Consolidating main holdings (for me: EOS, Neo)
I spent a few months focused entirely on Neo and EOS, trying to get as much as I could before the market really takes off. I was stupid and gambled a lot of my EOS away, but I may still have a chance to get it back at a good price.
Step 5: Time to gamble!
I am gearing up for step 5 which is where I will take a shot at those sick gainzz! Step 5 is where I already have a healthy portfolio that is poised to do very well in the future and I feel comfortable playing around a bit. Once I shop for a bit more litecoin and bitcoin to even out my portfolio a bit after all the diversification, and hoarding Neo, I'm going to play! I'm thinking of putting $100 into a bunch of tiny coins. The only requirement is that they don't look like scams or have a reputation for being a scam.
I will specifically look for coins that have a reputation like Origin Trail or High Performance blockchain but will still choose a few which are dirt dirt dirt cheap, like Oddesy which I would have done well with if I had invested more than $5 or Aigang which is just so tiny but looks like a legit coin despite having 0 hype. If even one youtuber starts talking about these coins it could raise the price. A pump and dump could still leave you with 10x gain or more even after it dumps the first time. Look at Dentacoin. I'll do most of my trading at Kucoin because it's nice to get things before they hit Binance. I may also join Ether Delta.
Step 6: Seeking Equalibrium
I play with these numbers a bit but this is the overall rough equilibrium I am trying to maintain.
25% Steem
15% Neo
15% EOS
10% BTC
5% LTC
10% mid-caps
20% small-caps
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Confessions of the Damaged - a collection of short stories
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If you like what I do and you have enough to spare, please consider becoming a patron on Patreon or sending some crypto gifts. Feel free to send me a message on discord if you need help raising your vibes or learning a language.
BTC 1HsHctHFoZucpjEY9NfE4SHUfEpCQwaDVc
ETH 0x252c2641438709687aec16d42974fbc3952f88d8
LTC Ldzq13WK1fTDZe9p7WvaQhqWyx8TWcweNx
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by @skyleap
This is my entire investing and gambling strategy!
Win Free Bitcoins every hour! freebitco.in
You get to click the button every hour and see how many satoshis you win! There is even a lottery! You could win an entire bitcoin! Tickets are one satoshi a piece.
What i would really wish to do is use Litecoin for every transaction i do. However, the world isn't there yet.
So, just keep collecting coins is what i do. Because, the rest of the world is going to be joining us. And that means the market cap is going to increase a million times.
I think the best thing to do now, or in the near future is have an online store that sells things for any of the good shopping coins.
I imagine that soon, you will be able to pay drop shippers in cryptos, and that will make such things even more easy and lucrative. (as long as you have fiat to keep you solvent today)
Hahaha that’s a fun investment strategy, but not as fun as the doge version!
I tried to offer language lessons for crypto but it turns out time zones are a bitch.
So all I can do is just keep grinding on Steemit!
Do you have a link to the doge version?
And yes, people who want to learn a different language, are always in the most inconvenient time zone.
I'm not sure, its on youtube, people make a big deal of it
This would be first step for new investors as well
"Only invest what you can afford"....or if you can't afford anything, don't invest.
upvoted
I think EOS is going to be really big and is still at a really good price now. I've also been hearing about the fact that people are likely to get a lot of airdrops if they hold EOS. My plan is to hold over the long term. I participated in the very first EOS sale round and regret not putting in more cash. I've since participated again a few times when it was around $2 and again I regretted not getting more. I just recently purchased some more at around $17 or so. I'm contemplating getting more but it's hard to focus on one token sometimes with all the great opportunities out there. I think EOS is really special though and the more I look into it, the more it's really starting to stand out over so many of the other opportunities out there right now. Good post! It's great to hear about other people's investment strategies.
The first airdrop was only automatic if you have 100+ eos....I hope it’s not like that for others. I’m waiting for it to come back to $15 to rebuy and after that I’m not going to play around with it anymore. Then I’ll wait for the launch and if it drops after the ICO, I’ll buy more.
yesterday a did go true my investment and finally its in the green a few of my altcones in still in the red but its going up. a feel like a Ned to sped it out more but not sure. a Ned a bit more of the safe cap. a have 70% in btc and rest in altcones in the high
risk bracket. a got my btc at 6500$ us so super happy on it these is my long torm plan not to sell it going on 100x on it. or 10+ years. so almost its not even in my portfolio. am using LTC on moving my founds around to. its fast and cheap ish.
Wow, you bought at the right time! The good thing about Steemit is that you will keep earning more crypto to do what you want with, or you can power up.
We are all gonna win.
In my country the access to cryptomonedas is not as liberal as in other countries, however with some techniques I managed to immerse my toes in BTC and I found it interesting to highlight;
Diversification is a more effective way to have the movement of money, the btc is a base currency, it is practically the beginning of everything, at least for me it is, I have always wanted to incur in several markets, but this is often disturbing, when you know that you could fall into fraudulent operations, I think the key is to investigate a little about each project before each investment, I think it's hard work at first, but then you'll sit on the couch and watch your beads grow, I might add that working in this market is a practice not suitable for cardiac patients, since it's a rollercoaster ride of emotions with so many ups and downs that often arise along the way, tranquility and patience play an important role, so trust your instincts, happy day, thank you for these great tips.
Forgive my mistakes in English, I use a translator
I spent two months researching 70% of the top 200 coins, mostly watching interviews with their founders and learning the purpose of the coin. That helped me so much with decisions. Protocols are usually good coins.
Your english was fine haha, Google translate is that good?
so I think you studied a two-month intensive, all right! my english teacher is www.deepl.com is much better than google
Your portfolio looks solid to me. EOS and BTS are good gambles!
My true gambles are Tron and Verge, Volatility baby! Are they for legit? Are they a scam? Nobody really knows!
That's interesting @whatamidoing. I still have to really get started with this. There just doesn't seem to be enough time left after life in general and Steemit! But I'd really like to find to time to get going with investing in crypto.
I was interested in @stephenkendal's dmapping but I can't work out how it works. There seem to be a lot of posts about coins that have been recommended in the past but I have yet to see one about buying something new. Maybe I'm misunderstanding it. I've left a few comments on blogs asking but haven't had any replies.
I need to find somewhere to start! 😊
I've got nothing but time....and a million things to do with it. Yeah it's all about priorities. All I have going on is trying to find a way to make my lifestyle sustainable and getting better at things. I thought crypto would make it all easier for I put the time in.
Where to start? Just go down the list and youtube them all if you dont have the patience to read.
Good idea although there must be hundreds of them now @whatamidoing! 😊
"I understand trends and human behavior"
As far as I know, this is what all analysis, both fundamental and technical are based on.
Yeah I know what you mean. Some people make a kind of distinction though, I guess?
Boy Howdie! You can get in a fist fight with some people over which one is legitimate.
I got a lot out of this! I'm going to start investing more energy in my portfolio now that I'm making money on steemit. ✨🌈
I’m so glad you are finally making money on steemit :-)
Me, too, @whatamiding. Me, too. #newlife. My job is to just accept abundance now. Tears, chills.