A non-technical approach to investing in cryptocurrency - Staking To Earn (SP & TRX) - 10.00% @tron-fan-club
My day begins with me strategizing through all of my curation accounts, staking and then draining their voting strength. For as long as I can remember, this has been my daily habit. I just called the process accumulation because that's how everyone refers to it.
Throughout my entire career, I've operated under the assumption that 2 is larger than 1. So, when it comes to crypto, number has always trumped quality, but not in the natural context, please join me on a walk.
I've always viewed cryptocurrency in the same light as traditional stock market shares. So, whether it's a blockchain or a project on a blockchain, I consider every coin I own to be shares of the firm behind it.
This means I'm neither a big speculator or a good day trader who spends a lot of time studying technical analysis. Traders can purchase and sell random bad coins based on market data, make a profit, and still get a good night's sleep.
I'm the kinda person who reads whitepapers and docs to make sure that I'm interested in the project.
When I put money in a cryptocurrency, I'm not simply buying coins; I'm also buying shares in a project that I consider has promise. This means that each project I invest in has the potential to add real value to the world, rather than being a one-off.
Staking Rewards
The next phase is to collect more of the coin after I've found a project that captivates me. The most essential thing for me is to figure out how to turn my crypto holdings into a long-term source of income.
As a result, initiatives or projects with some form of staking mechanism for earning appeal to me. Extra points for platforms like Steemit, which combines proof of brain with staking (powering up) and allows me to earn money on a consistent basis.
Anyway, if I figure out how to stack coins, the next step is to make sure that my project's regular profits can provide consistent income. This is the part where quantity takes precedence over quality.
With initiatives or projects that provide value and have longevity built into their design, I've found that volume is the most significant factor. Consider this: if you own shares in a profitable company, you will always receive dividends, regardless of the share price.
So, in the case of crypto, pricing is essential to me because it defines the dollar amount of dividends, but it doesn't change the fact that you will still get paid.
Compounding interests, I've discovered, is the quickest way to grow your investments to the point where they provide money. Also, don't establish unrealistic goals, especially when it comes to your revenue in terms of financial value. However, you can just set aside a particular quantity of coins for personal spending. Make sure you're not squandering all of your money.
Earnings From My Steem Power And Tron Staking
Using Steem and TRX as an example, I powered up my liquid Steem and earn rewards (from curation) paid back to me in SP (Steem power) and TRX (1:1 of the SP I earned). Furthermore, the TRX was frozen to vote for SRs on the TronLink app and earned some rewards which are paid directly to my TRX wallet.
Conclusion
If you aren't a professional trader, search for projects that have the potential to fix an issue. Before you invest, look into their reputation and see what the community has to say about them.
Instead of treating cryptocurrencies as a form of gambling, think of them as investments. Conduct thorough study and determine how you will traverse the project in order to profit from it.
Finally, check to see if the asset has a current or future market. This manner, regardless of the situation, you'll have revenue, even if it fluctuates with market conditions.
Thank you for reading
Nice one bro
Thank you bro ✅