After a few battle hardened years in the cryptocurrency space I've learned some rather expensive lessons during my stay but I'm as committed as ever to losing money in this space because its fun.
Investing in cryptocurrency is anybodies guess since its still in its infancy and operates outside a lot of regulation so don't follow my advice and then get rekt and blame me, this isn't investment advice, this is only what I do with my money.
Do your own research and ruin your own financial future, all investments have risk yada yada, t&cs
Image source: - totalbitcoin.org
Taking stake in the big 2
So how do I invest in cryptocurrency? Well for starters my largest holdings are in Bitcoin and Ethereum. I think even the big two are solid anchors that reflect the current market and provide a level of relative solidity to my portfolio.
I think these two currencies have built a firm reputation and will continue to hold large parts of total market share as they develop their code base and improve.
Passive Income
I am not content with just HODL'ing all my stake waiting for better price days so I've entrusted some of my cryptocurrency in services like Celsius and Crypto.com who pay between 2.5 - 4% APR on your holdings.
I will state however the major risk involved since these are custodial services so they own your coins and you do not have the keys to them.
I also use dLease for a 10% APR and Steem also provides you with an 1.89% APR on your steem power so its safe to say if you give me regular passive income you will get my attention.
Soft staking
As I've mentioned previously I love a good passive income source which is why I've also purchased Kucoins and NULS which can also be soft staked on the Kucoin exchange for a daily passive income.
dApps
I like to invest in applications I can use so I've also bought a stake in a few dapps on STEEM and on ETH which I think have potential to onboard users after me and generate a use case for their coin at scale in the future once they iron out all the bugs.
It's nice to be able to invest in a product you feel you can use every day so you more critical of what you invest in, instead of just an abstract value of an asset.
Have your say
What do you good people of steem think? What is your strategy?
Share it with us by creating your own entry. You can find all the details for the contest here
Holla at me in the comments! All my commenters I will now refer to as Jessie. Jessie is a good friend of mine, but Jessies got a girl, and I want to make her mine.
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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