Can powering up help us build a diversified crypto portfolio ?

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The current crypto scene

The bear market is brutal every time we check the prices they seem to slide down. That being said not every one is a trader and a lot of the investors are HODLing due to lack of the typical bull market opportunities that is everything going up.

FTX debacle still weighs on the minds of investors

Due to the FTX exchange and the FTT coin disaster the investor confidence is shaken and he things twice before trusting a centralized exchange.
Indeed it is risky to hold your funds in your centralized account.

Not your keys not your crypto

This has been proven time and again so the best option is to trade on a decentralized exchange DEX or if we trade on a CEX take out our crypto as soon as possible.

The high withdraw fee is the downside

A centralized exchange can have substantial fee in the name of withdrawal fee and this can hurt small amounts being taken out from your account.

Is hodling a better alternative ?

That seems to be the growing consensus but that also means your crypto does not grow.
A other strategy could be to use a part of the crypto to buy and power up steem on your steemit account.
This way your curation power grows.
From here either you can do manual curation or follow a good curation trail.
Alternatively one can delegate the steem power to a good curation account which gives good steem returns.
The returns can be used to buy and diversify your crypto portfolio.

These are just my thoughts and no financial advice. Please do your own research and due diligence before making an investment,

How are you growing your crypto portfoio ?

Share as a comment below your strategy to grow your portfolio.
Have a great 2023