Let me share with you my crypto journey and how I built a healthy crypto portfolio from scratch using only my experience on Steemit and the rewards I earned here and how it should be more.
With Screen shots!
I will start by telling you it’s not all been happy trades or happy days but over all I have been in the green and since my Poloniex portfolio is now a whopping $3,600US. I must have made a good choice by joining Steemit and "kept at it”. I have pulled a lot of Crypto out of the exchange and placed it in other investments and wallets so this screen shot is not a complete picture of my profits, just my current holdings. I have some stuff on Bitshares and Openledger as well.
When I joined Steemit last summer I didn’t know a thing about Crypto Currency, sure I had heard of BTC I was aware of its uses but I never dabbled in it. None of it really mattered to me. I joined Steemit to write and be a part of a new growing community. I love writing, especially while sipping whisky and listening to music (still waiting for someone to make an APP that can detect when I am drunk and stop me from posting until the next day). I had website I was paying for and never made a penny off it as a blogger. For months I wrote here and I basically ignored my blog. That domain I still own and actually market for future use but at the moment it’s “under construction”, sort of.
So how did I turn my thoughts and ideas into money I actually use to pay my bills and further invest in Crypto.
Well, I wrote on Steemit is the only way I did it. Some of my posts made good rewards and many did not. For the first 6 months or so I didn’t take a single Steem or SBD off the platform. I kept powering up and giving it away in contests for participation, building a following. You can't get unless you give, ying yang, balance of the universe type shit. Giving to the platform comes in many ways aside from giving away your rewards but this was the route I took and don’t regret it.
I’m going to skip to the part where I had rewards banked in my wallet from writing dozens and dozens of posts. I had been reading about other people’s trading experiences and decided I had made enough that I could risk losing some of it on the exchanges. I looked at it as though it was an experiment with real currency (Crypto) but if I lost my investment my life wouldn’t change. I was fully prepared to lose the $50 worth of Steem and SBD I initially put on the exchange. It's been a while since that day.
I bought and sold some coins just from reading Steemit articles, looking at the troll box and trying to understand what the charts meant. @craig-grant was a huge influence on getting me started in trading and the concept of ”going with the flow” is a lot more important than many traders agree with but it works for me. Without a doubt my first few weeks of trading were mostly luck and BTC rising in value. I was just going with my flow and I thought was right for me. I'm much wiser now.
I got into BitShares when it was trading in 200sat range. I got into Burst when it was trading in the 77sat range. Seems like forever ago. I never lost faith in these coins regardless of what anyone said about them. I was bunkered down by keeping them on the exchange with, what I thought was ridiculously high sell orders. I am in these 2 coins for the long run, and Steem of course.
But over time I would wake up and login to see they were selling. I remember when I saw all my BTS had sold while I slept. Had I been awake during the spike I probably would have set higher price. I was at first really happy but then it kept going up. I was never able to buy it back for less than that sell order. I bought it back more expensive and I am totally thrilled that I did. It’s already worth over twice what I bought it back for. I have since replaced almost all that I sold and because of that my portfolio is where it is now. All my BTS predictions, based on my own research and involvement have come true so far.
Burst really surprised me by spiking up to almost 1000sat recently. I knew it would one day but it happened sooner than expected. I have sell orders set at different levels so nothing completely sells out for the same price. I don’t want to wake and see my coins sold and the price is still rising. Gotta keep some eggs in the basket. I bought Burst Assets and was getting a dividend weekly which added to my profits. I sold the Burst, cause it was cheaper then and bought BTS. I just kept buying BTS with Burst profits. I even mine Burst now. What a good move, Burst is Bursting.
I have diversified my coins much more now. I used to only have a few coins, BTS, Steem, Burst and maybe chip away at the market with a few other penny coins. I lost a lot too with bad decisions in noobiness and learning what a pump and dump was and how to take advantage or avoid it. I am currently terrified of new coins for the record but since I don’t put my salary from teaching I can risk it without risking damaging my financial security. So yes, I do take the risk, sometimes.
There is no doubt that most of my crypto wealth came simply because the value of BTC and other coins have risen up. I have taken out hundreds of dollars and spent it online using BTC. I bought genesis mining contracts for small residual income to play with on the markets.
I also bought a bunch of hash power from Genesis Mining.
I also bought a CryptoPay Visa pre-loaded BitCoin credit card. It’s in the mail and you can expect a post about that once I test and prove it usefulness.
Break Down.
❶ It’s all about the Steem and SBD. The gateway to all other Crypto.
❷ Without that I would never have made a penny or gotten into Crypto trading and thus wouldn't have over $4000 earnings.
❸ I traded Steem into other coins that are more volatile and got lucky chipping away at the markets.
❹ I bought Burst assets and collected dividends.
❺ I bought BitShares and watched and still am watching it soar to the moon. (Not too late to get in now as I predict by the summer it will be worth a lot more)
❻ I bought Genesis mining contracts and get near daily payments in Daash, BTC and Litecoin, not much but it’s something.
Most importantly I kept Steeming. My faith has stumbled, rightfully so during the turmoil the site as experienced. Growing pains I think are now in the past, different ones may arise and we will deal with those when the time comes.
However, I love writing and I already made good friends here so I just keep writing here and hope for the best and its coming true.
My advice to Crypto rookies like me who are new to Steemit like I was. Hold Steem and Power Up every post until you reach 2,000 Steem Power minimum. Buy it on the exchange just get there or more ASAP! I used to have 5,000SP now I’m down to a little over 2,300SP. With 2,000SP your vote will make a difference to the success of those you vote for. You will also start to see returns for Curation. Once you’re there, in my humble opinion is then you can start cashing out your SBD and cash out decent returns.
That's my journey so far. It's all leading to freedom.
(Edited Below to Add)
If you liked this post it's not too late for you to check out this post. It's my personal Steemit Mantra.
https://steemit.com/steemit-religion/@solarguy/before-i-lay-my-head-to-rest-steemit-prayer-the-path-of-the-righteous-steemer
Solid post @solarguy. Following you now. I'm impressed how you dove in and diversified. I have nearly 20 years experience trading and charting US equity markets and still have not spent time actively trading cryptos.
Been just holding BTC (that I trade a bit) and STEEM/SP. I have been thinking about using some Steem to diversify into other cryptos of late though.
Part of it is my goal/target to have 10k SP (so close!!!), then after that I will use some steem to diversify. I'm happy to say I have taken all the fiat currency I invested in BTC and Steem out.
I like your posts too, so happy to get your attention. 10,000sp is an excellent target. It's my new target now since you make it sound fun.
And I would recommend diversifying now in to some other coins. Bit coin will rise up for sure but many speculators predict another $10 billion will be added to the Crypto markets by the summer. Which has been spreading into pretty much all the other coins. Even when I wake up and nothing in my orders sold I still see my overall portfolios value rise a little because the coins are trading higher.
At this moment BTS is down 20% from yesterday. So guess what I'm buying. ^^
Thanks for the follow @scardycatguide
Yeah, BTS giving a buy on dip opportunity today.
I have been studing and watching traders for a couple of years now. But never really traded other then to invest in new coins. Like you @craig-grant got me motived to take that leap. I even have soom of his trading videos that he deleted thanks to Freemake. I like using the steemit interal market and the bitshares DEX. This way i have no money sitting on some exchange. I lost a $100 of bitcoin do to an exchange hack.
Good advice to get 2000 or more Steempower. I would add to do it as soon as you can, because once Steem gose to $10 and more. It will be harder to get there. I wish I would of brought a lot of Steem when it was .05 cents.
Cool, you got vids. I met craig since steemit. wonder what he looked liked in those older vids. lol
I also lost 0.1002 btc on polniex. I sent it from my exodus wallet to the exchange and it never arrived. I sent them a ticket over a week a go, no reply. wth!! So yea. Im gonna switch exchanges, i just like the interface on poloniex, i'm used to it.
Good luck. Good to hear this. I heard about the cryptopay in @meesterboom post before. will be looking for how you use this in China. perhaps, lesson for me in getting one for travel (though will worry about it lost in the mail)
Just to prove the the lady that there is real money in steemit. :-)
Yes, in the least it will help the missus believe in crypto. lol. I was worried it would get lost in the mail so I had it sent to canada first, my folks, then to me in China. I hope it arrives this week. Already left Canada, on its way to me now.
jolly good. let's see how you spend it china.
Very inspiring....hope to really build up using this platform also! Keep these reports and info going because I'm learning a lot, just as others are. Thanks again!
Excellent. I'm glad you liked it. I have a written few over my time here maybe 2 or months. And like many others pretty much everything I learned about Crypto I learned on Steemit, and few other sources of course. Steemit is the gateway. I hope many more jump on the train.
Well done mate !
Thanks you. I plan to keep it growing.
Thanks for sharing your story! Just curious, how easy was it to get the genesis mining contracts and do you think the apr is worth it?
You know I really don't know. So far I am almost 1/4 the way break even. But considering it was all bought with Steem earnings it kind of feels free. But that is not the right attitude, I should not consider it free, I earned my Steem. lol If break even and it keeps turning a profit I will sing on the mountains how great it is. Too soon to tell.
Thanks for reading.
Yeap. This is exactly how it is done.
Like Minded People! sweet How did I miss you til now? Followed
I finally took the plunge recently. Things are looking good already. Bitshares though... I thought I made a noob mistake. I watched the value cut in nearly half of what I paid, sold them when they finally reached a little higher than what I paid. I should have held the damn things... I'm sure you see today's value.
Man I did that with Ripple. What a blow, I really know the feeling. The gut knows whats best though. If your investment wasn't in BTS what would you other choice have been at that time?
That was my first day. It was like buying a chocolate bar at the cash register. Impulse buy. I suppose, to be more accurate, I bought during a dump, then sold. Rinsed and repeated, except I went to sleep with the sell price set too high. Woke up to a mess. It took a week to recover and I just wanted my money back because I just can't stand losing.
I was going with my gut though, and while it was at it lowest I actually thought of buying more, and I should have, but instead I turned my back on it and now I'm kicking myself. Thems the breaks though and for my first week on the job, I'm doing alright. Steem to BTC, back and forth, that's been really good to me. I used a one week powerdown payment to get started and I've already doubled it, plus. I might be one of the only people around waiting for Steem to drop down to 20 cents. I plan to bring back a lot of SP so I can "mine" more efficiently, plus you folks deserve high value votes!
crappy. At least you earned it back. And I too am hoping for steem to dip so I can load up on the steem I sold. haha, selfishly. But it won't, better. not. what mixed feelings for the eh.
It's good for the mind to be in a position where good things happen which ever way the price decides to go. If it drops, we all know it's only temporary.
Well done you..which platform are you buying your coins with?
I'm mostly using poloniex but I have used bitrex for coins not on poloniex. I also use the Bitshares platform and recently bought some Zapple on Openledger which my first time to use that. So I am expanding my horizons one proton at a time.
You use them too?
No but am thinking of getting some coins with my steem..am told to hold off for now. So when i do, i'll know where to go.
Wait. I'd recommend you use https://bittrex.com/ over poloniex. I use Poloniex still because I am a creature of habit. I wish I had gotten use to Bittrex it's a lot less problematic. There is actually a class action lawsuit in the works against Poloniex for insider trading and manipulation.
So if you're learning an exchange for the first time. Not Poloniex. I'm going make the switch soon.
Alright thanks..bittrex it is. Will gonna play will some steem, can't wait. Cheers @solarguy!
Why did you chose Burst? its not even in the top 20.
Burst was dirt cheap and I was dirt poor. lol. I figured it really couldn't go lower. Craig had talked about for a while when I was first experimenting. I just stuck with.
Yes..but you said you'll stick with BTS and Burst,why? BTS is more reliable to stick to as from what I can understand. Am gearing towards BTS.
Good job on the profits mate!
Thank you hope you have the same.
Thank you for the information, i really need these kinds of postings.
No problem . I'm glad you found it useful.
Nice motivation, great words specially for small investors and newbie in steemit platform.
Most of us started there. I don't know if my path is all that unique but I am happy to share it in the hopes others can also experience what sticking with something feels like. I will follow you back. Nice to meet you.
What an inspiration. I wanted to start trading too but I have this fear that it might not work for me. I trade with fiat currency before and lost my investment. I am not good in analyzing the trend especially those candles in the trading platform.
But reading your story makes me wonder to consider crypto trading. Any tips on where to start?
yea man. If you just risk a $50 of your steem bucks it won't ruin your life until you figure out what everything on the exchange does. How it functions and where to click. I mean if you lose $50 but learn how the exchange works in the process it's actually a really cheap education. ^^
Yes it is. Where should I start? :)
in my heart, i trust BTS. it does so much.
Thanks
I am still my BTS. it has fallen a lot recently but I banking on a turn around. Just in case you are worried made a bad suggestion. I still have faith in this coin. ^^ I will probably buy more.
I bought burst after our conversion. It was pretty small though :)
Fascinating. I sometimes wonder shall I try this. It must take a lot of time and energy to research though, something I do not have a great deal of. X
at the start it takes time to figure things out and suffer some bruising loses. Just use what u can afford to lose. Once you start having some success it gets addictive though. lol
Thanks for that advice. Look forward to more of your work. X
Could you write on how you mine Burst coins? I tried to get started with it a couple months ago, but I got confused and discouraged so I didn't bother. I like the concept of using disc space instead of energy heavy methods used for other coins (which I have never been successful mining either, lol).
Sure. I did write about few weeks ago. My Burst mining experience. I don't know if it will answer your issues. I had tons as I started but I spent a pretty penny on the 8tb seabright external harddrive which literally I have no use for other than for Burst Mining so I couldn't give up or I'd be out my investment. So was worth sticking it out.
If this post does't help enough you can find me on www.burstnation.com @solarburst
Check out my posts there because those guys really held my hand and guided me through it. The help you can see there will be useful for sure.
This was my old post. Thanks for asking, good excuse to shamelessly self market. ^^
https://steemit.com/crypto/@solarguy/mining-burst-is-easy-and-cheap-a-great-way-to-make-a-few-extra-bucks-to-trade-on-the-exchange
Thanks! I will check it out!
Hi @solarguy very nice post, I am not really trading at the moment (Only Steem, SBD at the moment), but hopefully will start soon.
meep
)..very good
Great post. Thank you so much for sharing!
Thanks @noganoo. I do miss your posts. ><