Diversifying My Holdings; How This Can Help My Long-term Crypto Goals
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For a long time now, I've only held BTC, ethereum, hive and steem but recently I've sold all my BTC but kept my ethereum somehow so I'm basically place a five years space period for my ethereum and not withdrawing it whatsoever. Recently I bought into leo too and well provided 500 Leo for liquidity in wLeo and as for that one I'm giving it a space of 5 years too. That's if it goes on to become and continue being really sustainable. I also plan to start buying deeply into leo again once I hit 20k hive power at least I plan to buy huge into leo and in the space of 2 years too hopefully I can hit 20k staked leo. Of course I'm still keeping the money in the ecosystem and what I'll exactly not do is sell my hive holdings in other to buy into another altcoin, this depletes the system and I'll not contribute to this.
From my plans above you'll directly see that I'm diversifying and I don't need to stress the importance for diversification enough. Currently Leo is the best project on hive and I'll second this by adding splinterland but since I'm not really a gamer I don't see the incentivization to invest in it. While investing, I use to find a common ground between my investment interest and my prospects and if it doesn't really tally I wouldn't really see the need for it. So I really want to diversify my holdings, keep it in the system. I believe hive is good for leo and vice versa and basically people would see a need to be in hive by also see a reason to invest in Leo. While hive itself might not really be the focal point I believe we'll have massive projects built in hive in the next 5 years.
For the past three days I've been thinking of what I'll invest in should I finish my diploma, I love teaching and it's something I did for like 5 years. So I basically saw education as something that I'll be interested to invest. So inasmuch as I want to 100% buy into Crypto I'm thinking of making Crypto like a centre of storing wealth. So I want to take out money, invest in my business interest and also save 70% of the proceeds in crypto as well. In reality having an investment doesn't guarantee wealth but then it gives you a certain kind of leverage. People would have been saving their money in crypto but the volatility is what chases them away. In reality banking reduces your money of course in a very small percentage for a long period of time but then we hardly notice this.
I of course wouldn't totally take all of my money off fiat currency and the banking system because I need it for my day to day expenses but majorly I'll trust crypto especially if I want my money to accumulate value for a long period of time. So everything I have thought out is totally towards diversification. There are so many projects in crypto currently and in the next five years there'll be more. I believe the long-term diversifiers into many projects are the billionaires you'll likely see in 5 to 10 years time. I'm currently not rich and most of the gains I've had is targeting towards long term building. However because of the escalating changes we're recently experiencing I'm targeting not just longterm but to have diverse choices for the little amount of money I have.
One way to overcome the uncertainty and volatility is to build into different projects. There's chances that you might fail in a few and win big with others, i've learnt this by reading @trumpman's blog. It's actually wise to have a plan when you're building. It's not bad to be emotionally invested too the reasons why people think it's bad is because they're not buying into other projects and they're of course not very patient. So I'm starting to fully buy into leo immediately I hit 20k hive power. I'm currently sitting at 19.3k
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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
@Josediccus, your brother-in-pen & heart
I'm hoping to reach more people who are broken at heart and spirit, so share on any platform or reblog
My Twitter handle
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https://twitter.com/PERCIVAL_JOEY/status/1309861198360440832
Diversity is always a great idea. Finishing yoru diploma sounds like a good investment of time too. Have you looked at building and working with @homeedders on #Hive? HUGE homeschooling community which is heavily into crypto - seems a good fit. Putting homeschool resources on the blockchain for common use seems a SMART strategy to me! And a way to be earning drip-drip-drip while you grow and build community.
Keep it strong - you're headed down the right path.
Sending you encouragement from Thailand.
Thanks a million @artemislives, I like to check out my diploma to see if it'll fully be beneficial for me in the long run. Thanks a whole lot. I haven't hear about @homeedders I'll check it out.
Lots of homeschool families still really appreciate worksheets and resources for basics like math, science and writing skills. Projects. Tasks kids can do. All sorts of materials you could prepare and publish and charge a simple 1 Hive for download-use. Books are EXPENSIVE and there are SOOOOOO MANY cool things you could do. You'd be empowering others AND supporting the alternative education community while you earn Hive.
@minismallholding is involved with @homeedders community and someone you might enjoy to connect with.
Just follow the whisperings of what feels worthwhile and engages your spirit and energizes you. Do more of that.
!ENGAGE 15
19.3k Leo as well ?
Oh no, just hive. I'm planning to have 20k Leo at least in two years time. I currently only have 2.9 leo. Im hoping to diversify my holdings
It concerned me to hear of your withdrawl from BTC holdings. If you are talking diversifying then holding some satoshis in BTC might not be a bad idea.
My stratigy since the fork has been to trade a small amount of my STEEM to BTC yet the vast amount of my HIVE/STEEM (had been a Dolphin) has gone into Monaro (XMR). It is unique in crypto due to its built in anonymous features. It is discussed more deeply in my second CryptoTeaLeaves episode, should you be interested to listen.
P.S. Since acquiring my XMR it has increased almost 100% in value.
Oh no! I actually sold all of my BTC holding just to take care of my needs I feel I actually did have some money and I bought into ethereum I'm looking to buy some XRP as well but then I don't have that much money.
Wow congratulations on this really, it was a really great decision for you and I think it's great. I think your strategy is quite good
I think you have a good strategy for Crypto. I have bought hive with the small amount of btc and litecoin I had, although I did hold onto my small amount of ethereum. I have also been moving my steem over to hive. At some point I may get back to posting on steem but right now I am focused on hive. I have been able to power up about 1k of hive, and I would like to double that over the next few months. Also, thumbs up to you for being a poet.