What's up Dtube!
When I first joined Steemit about 6 months ago, I basically put all of my savings into Steem and was powering up everything I earned on the platform. I had never invested in crypto currencies before and so I figured, why not put my money where my mouth is (literally). I have so much faith in Steem and what this coin adds to the crypto space. Being on Steemit is a life changing experience for so many, and we are just getting started.
Time to Diversify
A few months ago though, I realized that I basically had all of my eggs in one basket. Anyone who has a shred of investment experiences knows that diversifying your portfolio is key to a long term, healthy strategy.
There were a lot of ways I could go about doing this - but I decided NOT to power down my Steem. Like I said above, I invested in this platform because I believe in it and I wanted to continue building my steem power as I posted.
I decided to do two things to start diversifying my portfolio:
Funnel Whatever Fiat Savings I Could from my Bank
This is a pretty slow strategy, because I don't have a lot of extra money at the end of the month after all of my expenses are taken care of. I live pretty frugally and so I am able to invest some every month - but this would take way to long if it was my only strategy.
Use my SBD Earnings to Diversify
The last few months I have been continuing to keep my Steem as Steem Power (I never never powered down a sing piece of Steem!), but to start using my SBD earnings to purchase other coins. This has been working GREAT and i've been able to invest in some other great coins that I really believe.
The One Flaw in my Plan
I have been getting so excited about various alt coins such as NEO, EOS, Bitshares and others ... that I literally didn't own a PENNY of Bitcoin.
Is it really that important to have Bitcoin in your portfolio?
Yes. Sure, there are other coins that have lower transaction fees, faster processing times and great teams behind them - but the truth is that Bitcoin is still the King of Cryptoland and that's not changing anytime soon.
Bitcoin has an incredibly robust team behind them, they are the trading pair for almost every alt coin out there (which gives it inherent value) and it has the greatest brand recognition of any coin. As new investors come into the space, many will purchase Bitcoin because they feel unsure as to which alt coins to purchase.
My Next Goal is to Reach One Full Bitcoin!
Even though it is SO tempting to continue funneling my extra income into my favorite alt coins, I have decided to focus all of my energy onto getting my way to owning one full bitcoin.
Where am I at?
Well, I had just sent some more fiat through an exchange and i've been saving some SBD because I wasn't sure where I wanted to invest it. This morning I channeled all of that into bitcoin and I am now the proud owner of .3 bitcoin.
I have now reached 30% of my goal! I just hope that I can reach my goal before Bitcoin takes off to the moon again... because that will make things a wee bit more difficult.
Thank You
I just want to say a HUGE thank you to everyone who supports me here on the platform. Without your support, I would be learning on my measly fiat savings to build towards my future.
I hope you guys enjoyed hearing a bit of my investment strategy and I would love to hear your thoughts and questions! I"m sure many of you are much more versed in investment strategies than I am, and I welcome all thoughts and feedback.
Have a great day!
xo, Lea
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I sold at least around 20 bitcoin like 2 years ago lol We had no idea how fast it would rise back than. Luckily I kept most of them lol or I'd be really hurt today!
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Damn! That’s awesome you got into BTC so early and kept most of it.
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Yes, BTC a must own. Good luck on your journey to 1.
BTC, ETH, NEO, STEEM my top 4.
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Thanks for sharing your top four! I don’t have any ETH yet, but they are on my list. :-) My problem is that there are SO many things I want to buy! Haha I guess it is just one step and one coin at a time... it eventually starts to add up! 😉
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I have only been learning about cryptocurrency and Steemit for the last couple weeks...so I have no investment strategy in place at the moment. I am still working to increase my SP and SBDs here. I do want to invest in Bitcoin at some point though, because I know it's the most familiar! Thank you for sharing your strategy, it helps to see what others are doing. And congrats on getting to 30% of your goal already!!
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Thanks @keciah! Sounds like you are off to a great start. In the beginning, I think it really does help to try to power up as much of your steem as possible. The more steem you have, the more bandwith and voting power you have.
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Yeah!!! Its amazing to see your goals!! Im super excited for you, but let's be honest, don't sell yourself short. We all know 1 btc is a nice goal, but let's go for a stretch goal maybe 5? I have no doubt you will be able to get to 1 btc within 6 months. Keep fighting the good fight and you'll get there!
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Haha love it! My problem is that there are so many alt coins I want to buy! It’s hard for me to spend too much time investing only one coin, that’s why I’m just starting with one bitcoin and then I’ll reevaluate my strategy from there. :-)
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Hahahah I don't think that's YOUR problem, everyone has the same issue! It's like Pokemon gotta catch em all!! For me, I stick to things I know, I think Warren buffet said it the best "if you don't understand it don't invest in it". At the end of the day it's a crypto asset! Excited to read more post from you! Theres not enough women out there that enjoy crypto, so we gotta keep supporting you guys!
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I'm happy to hear your story, as you said, bitcoin is still the king of cryptoland and to own a full bitcoin is not an easy Task even to own the 0.3 is a great job.. I congratulate you on your achievement..wanna hear you say you've achieved the goal of getting one bitcoin before the end of next month.. Cheers
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Timelines are definitely helpful! I’m going to be doing whatever I can to hit that one BTC mark sooner rather than later. 😉
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Glad to see females getting on board with crypto its actually like 90% men right now start getting your other female friends involved
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It’s so crazy to see the stats on that sort of thing! I think because we have tons of top users here on Steemit that are female, I forget that the overall crypto space is mostly skewed male.
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ya cnn did a news article on it a few weeks ago i think it was 90% male
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Good idea to diversify, you might want to also include a good index fund in the stock market. Crypto is a real rollercoaster. Betterment is a good app for this. Happy returns!
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Funny that you mention betterment, I actually have some money in one of their portfolios! I am still maxing out my Roth IRA, but that is about all that I’m doing on the stock exchange. I have so much faith in the crypto market, that I am trying to put as much into various coins as I can. :-)
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Way to go, Roths are my favorite. :-) There is one crypto right now that is sort of a "Crypto mutual fund". It tracks the top 20 coins and purchases a proportional amount. It would be an easy way to get a wide variety at once, because as far as I know no single exchange trades all 20 top coins. You can buy it in the bitshares exchange. Here is a link if you are interested. http://www.bittwenty.com/
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This is great,
Steemit is really a great platform but like you said you can't put all your eggs in one basket.
I'm also looking forward to investing in bitcoin.
Good luck in reaching your bitcoin mark
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Awesome! Definitely an important coin to have in your portfolio.
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Good strategy to get bitcoin.i moved sum for 20 cents yesterday,fees are cheap again!might hit $100000 this year!😎
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So crazy to think about! That would be wild.
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Don't believe the hype about cryptocurrency. Almost every asset on the planet right now is in a bubble with the exception of silver and gold, which are inverse bubbles because they rigged them down even more than usual to try and facilitate NIRP/ZIRP (which failed anyway).
US debt + gold chart had over a 90% correlation and will obviously return there, meaning the price of gold should already be something like $2500+, which would take silver to a 30:1 ratio in the bull run (around $75-85) and it's currently $16.50.
I went all-in on bitcoin when it was $200 and would definitely not buy the stuff now over silver, but that's just me personally because I favor only asymmetric trades where making money is inevitable and not gambling on pump and dumps.
Most posts on here about cryptocurrency are hype and lies with no understanding of how any of it works. If you want to see some contrarian info as to why cryptocurrency is garbage to me compared to metals (here's a few to start with but I've written like 40 of them):
https://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective
https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-13-why-the-economics-of-bitcoin-don-t-actually-work-what-satoshi-really-meant-when-he-said-the-price-would
https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-23-the-achilles-heel-of-cryptocurrency-economic-fundamentals-seigniorage-fee
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Well it's really amazing to simply know you've amplified your investment and set it out to go bitcoin, it's amazing.
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Thanks so much for this video. I'm so new to cryptocurrencies and am loving learning more and hearing how people manage their investments. Thanks!!
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This is one hell of a plan you have there, can i be your treasurer
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That’s a good goal.... using dollar cost average, you will get there no time. Good chance bitcoin will be 6k before it starts moving back up.
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This is a very good strategy but I personally believe that Ethereum will have better investment returns! I am happy to have the chance to work in the blockchain now, this is fun and exciting! :D
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One approach I have used are the services that do "intelligent savings" by either analyzing your spending and automatically transfer small amounts to a savings account or doing "roundups" that take your remaining change of a transaction (you spend $15.26 so your $0.74 is chsnge) from your debit card purchases (or bill pay) and transfer to savings. I use that ninja savings to buy crypto with since I don't notice it being saved and just notify me when it hits x amount. So when BTC is a good price, I withdraw back to my account and buy crypto. I have used digit.co and acorns.com, which are slightly different approaches to "intelligent savings". Good job on getting 1/3 the way there!
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That was my goal too. Learning about Elliott Waves changed my thought process completely. Good luck on your journey!
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Coins mentioned in post:
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Wow, nice post.
U always inspire me....
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