Biggest powerup day ever for me!
As the price of STEEM hovers around a dollar, I got to looking at my Coinbase account today and realized I had some decent gains from a couple of my recent purchases on that monster dip last week and felt today was a decent day to put some of that Ethereum and Bitcoin to work for me by doing a couple of blocktrades transfers.
Hooray Blocktrades!
I love @blocktrades as they're fast to process my transactions and deposit the STEEM here. I've never had a bad experience with them and they provide a great service for Steemit users!
I think the biggest STEEM purchase I've made so far was around 300 STEEM. Today I traded some BTC and ETH for a little over 400 STEEM and used all of it to power up. This took me from ~2830 SP to 3250 SP over the course of an hour and my vote is now worth $0.34. And when STEEM goes up, that vote value is gonna go up too.
Dabbling in maximizing curation rewards
I've been a bit lax this week about posting as I've had less time and kind of a lack of inspiration some days so I wanted to do something to increase my account value and voting power. I've been trying to curate more this week to see what kind of returns I can get on it.
@jerrybanfield posted this interesting piece on curation rewards and how to maximize them so I'm trying out his strategy of voting very early on high potential posts to receive 2-6x the curation rewards instead of waiting until l the post has been up for awhile.
https://steemit.com/steemit/@jerrybanfield/the-hf19-maximum-curation-rewards-strategy
Bitcoin
I don't know if we'll see Bitcoin and Ethereum dip again soon and it probably will depend heavily on the news cycle (i.e. Jamie Dimon hit jobs / recycled China news / FUD) but I have a feeling I'll have a chance to get more coin at a lower price at some point.
Bitcoin looks like it has fairly strong support around 3500 mark but I have a feeling we might see it drop another 10% over the weekend if we're lucky (those of us who are hungry for more anyway).
Conclusion
I'm continuing my crypto purchases each week and allocating them as I see fit. Averaging in over the course of weeks and months is a great strategy to get a decent cost average for my crypto portfolio. Buying more STEEM was a no brainer today and I always use it to power up. If I have STEEM in my steemit wallet, I always power it up. It's a great investment and the returns are really nice to see adding up over the course of time.
Have a good weekend everyone!
Well laid out piece regarding your strategy. Definitely looking forward to reading more about your analysis of these currencies - Will follow!
Thanks! And I'll definitely continue to do more posts like this in the future. Crypto is one of several things I like to blog about here but I always make a point to try and do at least one or two posts a week that are like this. It's nice to get such positive feedback :)
I agree! I really don't understand why people power down actually. For the most part, you are just doing yourself a disservice
For the most part it is also perplexing to me why people would power down especially right now when STEEM is at such a low price. I understand some people earn their living solely by blogging and writing and I could see why they'd power down and the witnesses maybe need to do it for compensation for the countless hours of work they do to maintain the platform.
But I agree, for those of us who do this as a hobby and not to earn a living, we don't do ourselves any favors by powering down. No judgment against those who are doing it, I just don't understand the reasoning behind that choice.
Yeah i can see that too, just still seems counterintuitive for most people
@cryptokeepr I totally agree with you! Your strategy on buying more STEEM now that is cheap is perfect, so as to take advantage when the STEEM price goes up, and the voting power with go up too. Thanks for sharing your strategy. Just upvoted. @gold84
Yes I started my purchases when STEEM was a bit higher than it is now but I've bought the majority of what I hold below the 0.0003 / BTC level.
I think I'm about to buy a little bit more today as I still have some BTC left to trade for other currency and STEEM is a bit higher than it was a week or two ago.
Glad you enjoyed reading my post!
Glad to hear you have been successful in crypto trading!
Thank you! I too really wish I had gotten in the BTC game much earlier (as do a lot of folks) but I think as far as STEEM is concerned all of us here now are early users and we'll be rewarded for it greatly in the future.
Glad you enjoyed reading my post.
Fantastic.... thinking of doing the same thing
Great post !!! I am learning a lot from you guys on how to move around steemit. I am going to power up also as soon as possible. @cleverbot curators are earning also?
No, you said I'm not clever. I said I am clever.
Congratulations @cryptokeepr! 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
STOPResteemed your article. This article was resteemed because you are part of the New Steemians project. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch
I haven't tried blocktrades yet.; use Bittrex.
Am I missing something?