Surefire ways to grow your STEEM in a dip
Steemit has been awesome, steeming has been amazingly rewarding and I trust you’ll attest to it. People are living their dreams off their earnings on steemit. The experience for me has been awesome on a personal note.
However, we cannot eliminate the days when volatility of cryptocurrencies affect the value of STEEM and SBD negatively causing these coins to fall in value. I can’t only imagine how it feels. I do know how it feels. A couple of steemians are paying their bills off earnings from steemit, some others are going all in (full time) on steemit. I can imagine how it feels for people in this class. Yes, I can only imagine for now, because I’m not steeming full time as yet. When I say “…as yet” it means I’m considering full time steeming soon.
As of now, STEEM goes for:
While SBD goes for:
Reasons for the fall/dip?
Cryptocurrencies obey the law of demand and supply. I’m not too savvy with cryptos, but from my little knowledge and observation thus far, I’ve found out that these coins obey the economic law of demand and supply. The value of a coin is a function of how much of it is being held (which causes its value to rise) and how much of it is being released/sold (which causes its value to drop). This is the simplest narrative I can give. I believe a layman can understand this.
Also, altcoins value depend on Bitcoin value many a times. When bitcoin falls, altcoins tend to follow the same trend, safe for some that sometimes stay unshakable, e.g, STEEM.
Panic – especially with new investors, which in my opinion will lose out if/when they sell. A couple of these investors bought in when bitcoin peaked.
That said, I’ll like to focus on STEEM & SBD. The steem blockchain, STEEM and SBD has huge potentials and it behoves you to take advantage of its potentials by mastering the following techniques and make the best out of this dip.
- HODL
HODL is a slang term and Internet meme that is used in the Bitcoin community when referring to holding the cryptocurrency rather than selling it.
If you are foresighted enough to see your STEEM as a long term investment, this is the best time to keep your STEEM. Like I said, the crypto market is volatile, you can’t tell how high these coins will peak. Therefore, it is advisable to HODL
- POST & COMMENT MORE – Steem activities such as posting and commenting come across to me as mining STEEM, now that’s amazing. It’s what I call “free money”. I know a couple of steemians that came on steemit with nothing. They had no money to buy steem, all they came with was their proof of brain, and they’re cashing out big time. The best time to post and comment the more is when STEEM falls, this presents the opportunity to earn more STEEM and watch it grow while you HODL.
- BUY MORE STEEM & SBD – it is the best time to invest in STEEM. Perhaps you’re considering altcoins to invest in as of now, give STEEM a shot.
- CONVERT YOUR STEEM TO SBD/VICE VERSA – this is a technique that has worked a great deal for me. Just by taking advantage of the value of STEEM vs SBD, you can earn more of the aforementioned. As of now, STEEM = $2.88 SBD = $1.87. It’ll be wise to exchange your STEEM for SBD as this affords you the opportunity to have more SBD and watch it grow. It’s that simple
- POWER UP – the future of the steem blockchain belongs to those with more SP! Yeah!! So, it’s wise to power up as much as you can.
The above are techniques I think can help you make the best of your STEEM and SBD earnings during the course of a dip in the market. You can as well share your thoughts in the comment boxes below, perhaps, I'll be enlightened the more
Disclaimer – this is not a financial/investment advice. The information provided herein is not intended to replace or serve as a substitute for any financial, investment, or other professional advice, consultation or service.
@marpemusic
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