Hello everybody!
Today I would like to talk a little bit more about my experiences in the crypto space.
After little over a month of fully immersing myself in the crypto world I can now say I think i have grasped many of the main concepts & the best ways to earn crypto currencies.
As anybody new to the crypto world will know, at this point it does seem very overwhelming at first and oooh how we do wish that we could have been involved much earlier.
Firstly, I had to decide where would be best to invest my money. I initially had the Coinbase app on my phone where I had around £800, I didn’t make anything for a few weeks as I was scared everytime the price would drop a little bit, I was unaware of the volatility of the crypto market and should have just kept it in any of the coins on offer as by now they have increased dramatically in price. Alas I did put my money in Litecoin and managed to double it and then sold before it dropped off again. Since then, I have played around on Poloniex and made some more gains but trading isn't really for me so I am in for the long haul..
Genesis-Mining, I spent a lot of time reading and watching videos about this particular cloud mining company. This company basically allows you to ‘cloud-mine’ cryptocurrencies of your choice, they offer a selected few. Basically you don’t need to have a powerful computer to be in on the mining world. If you check out their videos you can see their infrastructure and investment into these enormous ‘farms’ around the world. The owner of the company Marco Streng is a public figure which gives you more confidence in the company as a whole. Now, the question of profitability is next, this can be profitable but only after a number of days, there are variables which need to be considered such as mining difficulty (as more people start mining) and also the price of coins. Some say that you may be better off just buying coins and holding until the price increases, but this is something you need to decide and research yourself. I may even make a post in the future about this. Personally I have decided to diversify my capital into a number of avenues, I have put approximately 8% of my crypto-cash into Genesis mining so far, I don’t aim to increase this anytime soon as I would rather invest into STEEM in anticipation of a large increase in price soon.
For all of those wishing to invest a portion of their funds into Genesis-Mining, if you would be so kind as to use my promo code 'ASDTNi' (without the ' ' ) then you will receive 3% off the amount spent, in turn I will be sent the 3% and will put some of this towards upgrading my hashing power further too! :)
I have been researching as much as I can in the crypto space and have found it useful listening to Jerry Banfield for updates, so I highly recommend you listen to him. I have learnt volumes from him and am very grateful for his time and effort. I have recently sold most of my altcoins and bought up around 2500 Steem. Yesterday showed promise with the price jumping around 20%. This had me wishing I had pumped a bit more capital into STEEM, although I still need to be vigilant with my capital and can’t leave myself without any cash for my day to day living expenses!
I have just watched Jerry’s recent in depth analysis on his 1.5hr youtube video going into much detail on his 10 reasons for a predicted $10 STEEM price in 10 months which I confidently say I believe too. If anybody hasn’t yet watched it then PLEASE make sure you spend some time if you haven’t yet made your mind up whether it’s a good investment or not. I have learnt that STEEM is definitely undervalued compared to the other Altcoins which have been blown out of proportion whilst offering mostly only slight improvements to the crypto space, whereas STEEM already is setup for (non) tech savy people to begin using it easily. STEEM allows the user to earn money from posting & even commenting. Jerry mentioned also that Steemit is ranking very high on Google organic search which should begin to pick up pace even more, meaning more search traffic will be redirected to Steemit. This will allow bloggers on Steemit to earn much, much more in the coming months & increasing the price of STEEM in the process.
Jerry Banfield -
Anyhow, I don’t know as much about Steemit as Jerry B does, so please take my advice and go read up on his wonderful work, leave him your thoughts on the comments section too, he may even upvote your comment earning you a few cents due to his high STEEM Power!
Anybody who isn’t holding STEEM, please go buy some before the price goes even higher!
See you soon
P