New Kid on the Block

With the emergence of Steem becoming a player in the market place, and making waves in a social media//crypto-currency disruption it has become more apparent then ever to heed attention to your digital assets. Since Joining Steemit a week ago I have been pondering a way to share some viable options among avid crypto-currency users. So, I wanted to jot a few things down.

Digital Balance Sheet

First thing you need to do is compile a digital asset balance sheet. You should list out all your digital assets, and where you have them stored. This can be confusing because you might use a digital broker//bank of sorts to hold and protect your digital currencies. A prime example of this would be coinbase. Many people use coinbase as their medium for exchanging currencies or storing. On top of that unlike a regular (US) bank, you can hold multiple digital currency assets in them.

Next, after locating all your assets you need to find a good market indicator so you know the value of your assets. You need to find a place you trust for valuing you currencies and what you deem a fair valuation. Does spot work? Or do you need a moving average? This is something you need to decide for yourself, and it will probably pertain to your usage of said digital assets. For instance if you are a trader you will probably want spot. If you are trying to just keep track of your Steem over the long term you may want to use a monthly, or weekly moving average.

Finally, if you are like me I would sync this into an overall personal balance sheet. This will remind you when you look at your assets you will have a digital currency section to keep an eye on.

GOOD LUCK!!!

Hopefully this blog will make you think differently on staying a tad bit more organized when it comes to your steem!

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