When it comes to investing, I’m a big proponent of Warren Buffet’s strategy of looking for assets that produce income.
I heard Buffet say this in an interview a few years ago and I’ll never forget it:
He said (in my paraphrase) that you ought to buy assets that produce an income. Investing in assets that don’t produce an income is risky business.
When you buy an asset that produces no income, then it becomes pure speculation. You’re speculating that somebody else will be willing to pay you more for that asset at some future date. It’s like buying a piece of art.
Now, if you’re on Steem and reading this, then you obviously invest into crypto. Most cryptos are the ladder type of assets - they don’t produce an income.
I’m not completely against investing in cryptos that don’t produce income (like Bitcoin, for example), but I am aware that it is speculation to invest in them.
I’m invested in Bitcoin, but I look at it as a speculative play and thus, it’s not my largest position out there.
When I look at STEEM though, it’s a completely different story. With STEEM, you can earn interest and you can earn a sort of “dividend” through your STEEM POWER.
STEEM is an asset that produces an income AND has the incredible upside potential of other cryptos like BTC.
The upside of STEEM is multi-fold, and I’ve talked about this a lot in the past. STEEM is, in my opinion (and this is not financial advice by the way) the best investment to make in the whole space of crypto - and beyond.
Although STEEM doesn’t come without any risk, I see the risk as being quite low. Many of my close family and friends have joined the Steem platform and bought a tiny bit of STEEM and powered up, but they’re still very skeptical.
I understand the skeptics, but you have to understand the technology and the development. My friends/family are always texting me and are worried because the price did this or the price did that.
I always have to just remind them that this is a marathon, not a sprint. Steem’s technology is constantly being improved upon and there are new DApps that are constantly being developed on the Steem platform.
There’s over 1 million accounts now which is absolutely insane.
With HF20, signups are going to become extremely easy and we’re going to see a whole new level of user on boarding - I’m sure of it.
Do you believe STEEM is one of, if not the best, crypto investment out there?
