Six days ago, I published an article on read.cash entitled Investing PUNKs Is One Of The Best Things I've Ever Done In SmartBCH. In this article, I shared how LawPunk could possibly help me cut off some of my losses in smartBCH by staking them and earning LAW as rewards. Well, guess what? LAW is making its upward move now!
During my last check, the price was only $0.36 per LAW. Now, it goes up to $0.42. My 532.29 LAW was only worth 1.34 BCH before. Good thing I didn't sell them at that time. Now, my 532.29 is worth 1.63 BCH, which is a good sign to do some profit-taking. As much as I wanted to hold them until the right time comes, I realized I needed to secure my profit. I'm just worried that I will end up regretting again just like the case for my investment in Pegaxy.
So now, instead of waiting to reach $0.5 per LAW, I sold 325 LAW for 1 BCH. I also plan to send all my sBCH from Metamask to my bitcoin.com wallet and only leave a small amount of it for future transactions. Good thing BCH doesn't cost so much in terms of gas fees. So yeah, finally, I got to secure a profit from my smartBCH investment after a long while.
Another thing that I realized today is that from now on, I will start taking profits every time it reaches 1 BCH. That's the goal now as I don't want to pay for the unnecessary transaction fees if I go for a lesser amount. I also intend to do this to prevent from making the same mistake again just like in my Pegaxy investment. This time, taking profits will be my utmost priority. I will see to it that I will find the time to monitor the prices so I know when it's time to take a profit.
Since I sold 325 LAW, I only have 207.29 left in my Metamask wallet + 3.645 LAW that I have no plan to harvest, which is worth 0.64 BCH in total. Not that bad, huh? The remaining LAW will be put on hold for now till it will be worth 1 BCH again. Then when the right time comes, I will sell the rest.
Meanwhile, I will just stake my PUNKs to accumulating more LAW for the future. So far, LAW is my top 3 best assets in smartBCH that could possibly save my dying BCH portfolio.
Closing thoughts
I'm so happy that I get to secure my profit worth 1 BCH today from a smartBCH token that I didn't invest. By the way, all these LAW are solely rewards from staking my LawPunks in blockng.money.
So far, I have taken a total of 2 BCH in profits. The first time was in January when the price of AxieBCH went up. The said profit was used for a great cause. I used that to complete my house. Awesome, huh?!
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