With all the possibilities, it's so confusing to know which coins to get? a while back I simplified it.
Get Steem, power up and hold!
Illustration created by my niece @ alannapendragon and used here with permission
The truth is I'm not very good at the whole trading thing.
When I first got into crypto assets I traded allot in different assets, but here are the top five I liked.
1. Bitcoin
For a while I had some Bitcoin and if your moving between coins you will have some Bitcoin as well... at least for a while. Why? As most of of the exchanges use Bitcoin as the base for you to convert to all your other coins or assets into the crypto world.
I currently have none.
2. Ethereum
I had largely missed the Bitcoin boa so I went for this guy said to be the next Bitcoin and be the most likely to ever do a 'flip' with the market leader. For a while I tried moving in and out of this coin with the market waves, but it also costs a bit in fees when you working with just a micro amount from mining like I had.
I currently have none.
3. Tether
This is basically a coin that is locked to the USD, so if you know your coin is about to be dumped you can move to this coin. Unfortunately like Ethereum it has some fees around it and so unless you're a real market player, moving in and out is expensive - but yeah, has to be done.
I currently have a little.
4. Dash
I really liked this one as it had some market places established, you can exchange it for goods or services and it has a level of encryption/protection around people seeing what your doing when you go to do this.
I currently have none.
5. Steem
After playing the markets and making 10 wins or so, making exchanges very rich and mildly building my amount I would then have a loss. I tried to be diverse mainly against the assets above, I eventually worked out - I just don't have what it takes.
The truth is I can't keep my cool, I get too excited or want to do something every time I look at crypto... when a large part of being a successful trader is knowing when to hodl.
So my current strategy is this, BUY Steem. As soon as I get hold of something, I just covert straight into Steem. I don't care if its up or down, I just buy it. I strongly believe it will be worth at least double what ever I'm buying it for today in the medium run.
I currently have just about all the crypto I have in Steem powered up as SP.
I wish all the best to the crypto traders out there, I've been there...but it's not for me at this time in my life and in a game where there are big players like JP Morgan and banks buying up, trying to pump and dump and take little players money to give back to their cash based buddies..I just don't have the time for the fight.