Buy low, sell high, HODL, DCA, time in the market, long-term vision, development, and mass adoption. These are crypto-related terms that we hear/read on a daily basis, but at the end of the day, if we don't integrate these ones into our daily lives(investing strategy), such terms are nothing more than fancy words.
About half a year ago I got completely wrecked with LUNA. Like literally screwed. All my portfolio got drained by trading that shit and for the first time in my life I really "felt naked" as a crypto investor.
Ever since I got in this thing I always held a coin or two and couldn't see myself without such holdings. It took me about two days before I got back into my senses and managed to function normally again after the LUNA wreck. I almost felt like I was hacked or something...
As a matter of fact, I can say I literally hacked myself. I managed to dust myself off, though, and bought back into the market. I got obsessed with Elrond(EGLD) for a few months or so and my first entry this year after the LUNA episode was back when EGLD was about $84. I DCAed all the way down to $50 and I bought more today at an average price of $53 per coin.
A few minutes ago I added 24 more EGLD to my stack and instantly staked it. I got about 60 staked EGLD which earn me something between 10% and 20% APR and a few liquid coins on a noncustodial wallet for just in case we boom overnight. I don't know if I bought the exact bottom with my latest entries, but even if that's not the case, I'm fine with it.
If EGLD breaks down to $40-$30 I'm buying more and thus moving more of my cash savings into crypto, as I mentioned that I was planning to do in a post some good months ago. 90% correction of a coin that's a reflection of a resilient and working project is a hell of a discount to me. If the correction percentage climbs higher I'm buying more.
Oh, do you know what the APY for cash deposits is at commercial banks right now? Well, the one that I'm using is offering a freaking 0.5% over 12 months. Man, that's not even 1% for locking your funds for a whole year and I'm earning 10% to 20% for staking internet money that's been providing for my living for a couple of years now.
I'm too poor not to buy crypto right now... That's what my title is screaming at you... I know it sounds a bit weird, but seeing how cash is losing value over time and how blockchain technology and cryptocurrency are gaining pace in their mass adoption process, it makes so much sense to exchange dirty fiat for crypto.
Bear markets are for building wealth. It took me five damn years to learn that... I can say that I also paid a good price for this lesson, but am willing to play the crypto cycles game better this time.
Crypto is what I do and my blog is the proof in this regard.
It's funny though, but I've noticed that whenever we fear crypto prices going down is when we should actually buy into the market. There is no perfect bottom as there is no perfect top. The meat in between is all that matters and conquering your emotions is mandatory for making your life easier in crypto.
The world is going digital, is been preaching about it for years now... Hence it makes almost no sense on betting too much on "the analog(cash)" anymore. I'm not saying cash is dead, but the economy that blockchain technology is creating outperforms any form of money and finance we ever had on this planet.
And as an ending line... It took me 20 minutes to stay in line, deposit the cash I wanted to buy crypto with, fill out paperwork and have my money in my bank account and just about two minutes to have the EGLD bought from Binance and transferred to the Maiar wallet and about one minute more to have it staked for about 10% APR. Does crypto make sense now?
I'd say it does and as I said in the title... Too poor not to buy crypto. Have a great day peeps and see you in the next post.
Thanks for your attention,
Adrian