I am sure i can take 100oz and sell them on thesilverforum for somewhere close to spot fairly quickly. I would take the money around £1400 and put it into Steem. I know very little about crypto's, i bought some bitcoin 4 years ago and lost them with mtGox and the remember the buying process a real pain in the ass. After i joined steemit, i decided to buy 200 Steem, the most easy way to do this for me was through bittylicious.com. It is a UK based company and i basically buy Bitcoin from them and have it sent to my Steemit account were is auto converted into Steem. This is done in 1 transaction and normally takes 10-20 mins to complete. I think the fee's are on the high side but i have any been using it for small transactions. Right now for £1400, i would get 1663.63 STEEM costing me £0.84 ($1.14) when the price now on coinmarketcap is £1.10. No complaints there, seems to be the more the you buy the lower the fee.
So would would i do with my 1600 Steem? how would i invest it into something and what are my options. I have never sold an oz of silver in 4 years of stacking so i must make sure i am doing the right thing. I have spent a few hours researching and the best looking thing for me to do is delegate SP to
. If i were to delegate 1600 to minnowbooster my return would be around 1.12 SBD per day, 409.08 SBD per year are at todays rate 369.76 Steem. This works out to a 23% return. This also does not factor in the fact that i would most likely reinvest my daily payments back in every fortnight and that the price of Steem can rise are fall. If steem goes back to around $1.50, im home in a boat :) I know there are lots more options to make money if you have some programming experience are know a few people but i have neither and im a lazy man.
This is something i plan to do for around 1 year and then put the money back into silver. My milky silver is really starting to annoy me and this is a way i can flip them over, have some fun which abit of a punt (gamble) and buy back some non milky silver to the same amount i sold. I have been doing nothing but stack silver the last 4 years, i have watched cryptos go crazy after i got burned, missed a few good IPO's through fear that ''the bubble'' is going to pop and basically resisted temptation to jump into something. I have had enough, i think the time is right even with silver being low. I think the price of steem will recover at a faster pace than silver over the next year and i think i need to find my way the thesilverforum trading section before i miss the boat again.
Have you heard of anything to reinvest steem into before? Have you tired something yourself with good results? Please share with me in the comments section. I write back to 98% of comments.
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