i am a buy and hold investor in cryptos. my basic strategy is to find and buy equal dollar amounts of the best cryptos that i can find. essentially, i am creating my own etf. after buying 35 coins in the past few months, what have i learned from the past 2-3 months?
buy in tranches only. ie. 25% of the total amount you have allocated as a maximum. then just wait. if the price runs away, so be it. don't chase any coin. most of the time, i can buy my second tranche at a 25 - 30% discount. if i'm lucky, i get a major discount of 50% or more. if it gets that low, i buy my third tranche. what do i do with the rest of my investing funds?
i keep a cash reserve at all times. i keep it in bitcoin, split up between 2-3 exchanges. when the shit hits the fan during these crashes, you can get stuck waiting forever to get funds transferred to exchanges. i'm already there, ready to pounce on those lower prices. as i save money, i just add to my btc balances monthly.
Please, be advised that you have leaked your active private key to the public putting your account at risk. Your key was just changed to prevent stealing your funds. Please change your active key using your owner key or master password. Be safe.
More info: You shall not (leak your) pass
i like your thought !
thanks! i'm hoping to find resources who can help me determine the best of the alt coin universe to buy and hol for the long term, which i'm assuming will be years, or until my mother asks me to buy some crapcoin.
If you'd like to try to invest in alternative coins, you may read my last post to know which ones are going to be the best choice in July. https://steemit.com/bitcoin/@vikky/top-10-altcoins-going-into-july
Thanks for sharing your lessons learnt!!! Upvoted and following.
Keep working in steemit, we need experienced people like you here!
Diversification is the key buddy. Good one.
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