What is the best way to get passive income from your crypto? Steem Power!
Photo by me. Camera Body: Sony Alpha a6000 Lens: 16-50
Lately I have been asking myself what should I be doing with my time. I sometimes feel scared to death thinking that I am investing all my time in learning about the blockchain technology, cryptocurrencies and all in the middle. The truth is that I really trust in the tech, and I see all this new cyber-economy succeeding in the long term. Thats why I feel confident that this is a safe horse to be betting in, and I should not really worry. But as everything in life, better safe than sorry. I need to take profits every now and then but man... it hurts so badly to sell my Steem now, I think its such a cheap price that I will regret that move in no time.
Reality is that if I want to live off crypto and Steemit, I need to play the game safely, and taking some profits every now and then is the safe way to go. Even if I do not intend to use that money or even turn it into fiat, I have been thinking in keeping some liquid Steem so when it rallies next time, I can sell some at a good price to then rebuy lower and profit some Steem. This is nothing new, lots of people increase their SP doing good trades. But I am in Power Up mode so I always find myself powering up all the Steem that I can get.
I think that having a lot of SP is the best thing to do with crypto at the moment. If you are not into trading, holding Steem in the form of SP is, in my opinion, a great move. Because not only I think that Steem is undervalued at $3.5, but also, holding SP you can get some nice returns from curation rewards, selfvotes or from delegations. Not many coins give you the chance to increase your stack while holding (SmartCash is one of the few that does).
Influence, passive return, plus the ability to support authors that you like; you can get all this while holding SP. At the moment it seems like the best return is from delegating your SP, that way you get a nice ROI without having to upvote yourself. Lots of whales are turning into this lately. I think that if you are a Steem investor and are not into the blogging thing or do not have time to commit to Steemit, instead of just holding SP you can delegate it and get GREAT passive income on a daily basis.
For the moment I will keep powering up as much as I can, I think this will be a great year for crypto and for me Steem at $3.5 is a bargain. I am also convinced that once Steemit goes mainstream it will be a lot more difficult to earn Steem so, this is a great time to create good content and buy all the Steem we can.
Disclaimer: I am a Steem fanboy but a clueless investor, none of my words should be taken as any kind of advice. Do your own research!.
@dontstopmenow buenísimo bro! La verdad es que steem al precio actual también me parece una super ganga... Tengo algo de sbd acumulado y no sé muy bien que movimiento hacer, ya que está un poco indeciso si sube o baja... Pensé comprar EOS o CARDANO, pero la posibilidad de hacer powerup también me parece atractiva... Tu reinviertes a SP tus SBD o los usas para pagar tus cuentas?
Lo de SmartCash no lo conocía, sin duda lo voy a mirar... El problema es que ahora la plataforma te da 0% por holdear tus savings no? Antes creo que había mayor beneficio por hacer stack si no me equivoco, entonces tampoco me parece tan rentable....
Respecto a lo de delegar el poder de voto, me parece bastante interesante, pero imagino que es para ballenos, no para pececitos pequeños como yo... Además tampoco sé demasiado bien como va el rollo? Alguna recomendación!
Gran post! ya tienes mi voto! un abrazo desde España amigo! :)
Increase The Steampower
Indeed. I agree with you that there is no point otherwise. I think it's best to power up your steem so that it will benefit you in the long run. But it sure takes a lot of time to power up and a lot of power too, but it's worth it. It will increase your upvoting power and it will benefit you in the future time. Great advice. Thank you. Cheers
That the smart decision !!
That's a great move of yours, powering up...I hope I could do like you,do. You are an encouragement ,thank you @dontstopmenow ...
Both STEEM and Steemit seem to be on the verge of totally exploding, it certainly is good to get in on the ground floor. I heard talk today of STEEM at $14, something to think about.
very nice shoot sir...i like him
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Para no ser "consejos" la verdad me orientas bastante con tus criterios.
¡Gracias! Un abrazo 💙
I'm very excited about the platform as well. I'm still kicking myself for having lost my original accounts password. I would have preferred to have kept my social media brand name.