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JFYI I barely know anything about cryptocurrencies lol. All my research has been on Google searching what cryptos people advocate.
With the earnings from Steemit (THANK YOU!) I've decided to allocate my profits into investing into other altcoins.
I switched half of my 80 SBD into bitcoin.
And afterwards I switched this BTC into:
- Golem
- Ardor
- Siacoin
Now I currently have Ethereum, LTC, BTC, Ripple, SBD, Siacoin, Golem, and Ardor. I had been wanting to get all of these altcoins a long time ago but I did not know how to do it (REGRETS...I would have made so much if I figured out how to do it a while back). But now I understand how to buy and shift coins a lot better now.
I don't have much in the smaller altcoins, but I decided to put a little bit in each of them in case they rise. I figure right now, all the newbies are wanting to get in on the hype and it will be rising for some time. Who knows if I'm right though, and I have no idea when to exit either...
What do you guys think?
I have Sia & Ripple. Most of my SBD earning are going into more Steem tokens.
My goal is to have around 500 Steem(Counting my SP). Have just reached the halfway point. No reason for the 500 in particular. is mostly a psychological boundary.
Nice! Are you leveling up your steem power at all? 500 would be great now that sbd is worth $13 :D
My process goes like this:
transfer SBD to Bittrex,
Sell SBD for BTC,
Buy Steem With BTC,
Use that Steem to power up.
Oh that is interesting. So that is better than exporting as steem instead of steem dollars? Haha total noob here. I guess it is more valuable to get more steem power huh.
Hmm... Its better to have a plan to exit if something goes wrong with those coins just like in trading u have a stop loss
Yeah I'm thinking I should exit out my initial investment so anything in there is profit. Are you selling or holding / what is your plan?
I discover Steemit just recently. I am mindblown at the concept of making money here so I will make plans to post here as frequently as possible!
Hi and thanks for sharing. Could you please tell me how I can get into buying the alternative ccs? I am in coinbase. Thanks.
Hi I use bitstamp (for ripple) and bittrex to get the other altcoins!
I made my first cryptocoin investments five months ago and amongst the things I have learned is be patient and don't panic, prices can fluctuate wildly and the temptation can be to buy or sell immediately in haste or panic.
However I now look at the longer term trends by looking at the charts in Tradingview or Bitshares and doing my own technical analysis from them which leads to a more relaxed life and more confidence for me in the longer term best buy or sell times or hold for investment.
Now seems a good time to be learning about cryptocurrencies and appropriately investing in them, so I believe you are doing the right thing, just be sensibly cautious and watch the price trends.