With all the possibilities, it's so confusing to know which coins to get? a while back I simplified it.
Get Steem, power up and hold!
Illustration created by my niece @ alannapendragon and used here with permission
The truth is I'm not very good at the whole trading thing.
When I first got into crypto assets I traded allot in different assets, but here are the top five I liked.
1. Bitcoin
For a while I had some Bitcoin and if your moving between coins you will have some Bitcoin as well... at least for a while. Why? As most of of the exchanges use Bitcoin as the base for you to convert to all your other coins or assets into the crypto world.
I currently have none.
2. Ethereum
I had largely missed the Bitcoin boa so I went for this guy said to be the next Bitcoin and be the most likely to ever do a 'flip' with the market leader. For a while I tried moving in and out of this coin with the market waves, but it also costs a bit in fees when you working with just a micro amount from mining like I had.
I currently have none.
3. Tether
This is basically a coin that is locked to the USD, so if you know your coin is about to be dumped you can move to this coin. Unfortunately like Ethereum it has some fees around it and so unless you're a real market player, moving in and out is expensive - but yeah, has to be done.
I currently have a little.
4. Dash
I really liked this one as it had some market places established, you can exchange it for goods or services and it has a level of encryption/protection around people seeing what your doing when you go to do this.
I currently have none.
5. Steem
After playing the markets and making 10 wins or so, making exchanges very rich and mildly building my amount I would then have a loss. I tried to be diverse mainly against the assets above, I eventually worked out - I just don't have what it takes.
The truth is I can't keep my cool, I get too excited or want to do something every time I look at crypto... when a large part of being a successful trader is knowing when to hodl.
So my current strategy is this, BUY Steem. As soon as I get hold of something, I just covert straight into Steem. I don't care if its up or down, I just buy it. I strongly believe it will be worth at least double what ever I'm buying it for today in the medium run.
I currently have just about all the crypto I have in Steem powered up as SP.
I wish all the best to the crypto traders out there, I've been there...but it's not for me at this time in my life and in a game where there are big players like JP Morgan and banks buying up, trying to pump and dump and take little players money to give back to their cash based buddies..I just don't have the time for the fight.
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hehe, It is sold pretty badly, isn't it ?
"You can get rich starting from nothing in crypto trading !" except to survive the fees you need your nothing to be worth at least a few hundred dollars XD
I'm personally holding a few hundred LOOM, mainly because I like their technology and think their Side-chain SDK is going to make DApps with complicated logic feasible, and they've got got a "create the product first, make all the wishy washy technical marketing and hype later" mindset I find really good.
Then there's the 20 or so HACKEN I own, which I got in their ICO and have been growing in value well. Their mindset is also very platform-centric, not caring too much how the "market" judges the value of their currency but being more focused on creating a platform where white hat hackers can do penetration testing and bug finding for clients in an easy, secure setting.
I also have 200 BITDEGREE tokens, though the fact one of their available courses is a complete rip off of LOOM's Cryptozombies Solidity teaching platform has sunk my faith in them.
I haven't seen much progress on their side, so I think BITDEGREE isn't going anywhere X/ (luckily it was extremely cheap, so I didn't sink much into it)
Other than that, Ethereum (I'm working on my first smart contract), Bitcoin (stored away on my Ledger Nano, and earned through the occasional task on earn.com, which also does airdrops so I've got 7 or so tokens with no values yet), and some Bitcoin gold and bitcoin cash dust, that I managed to extract with extreme difficulty from an old wallet X/
Oh, and I'm also one of the "power houses" answering questions on Smart Contract coding and Ethereum through Loom's first DApp delegatecall.com, which let's you earn their (still without use) DelegateCall Token...
Too bad there's not a place to trade it...
With half a million DelegateCall Tokens, I'd be happy if it traded at pretty much any price above 0.00001$ XD
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I wasn't expecting to see Tether here. Maybe have a look at Maker Dai. Different method of pegging to USD but it's got less counterparty risk by a long way.
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