Everybody in crypto wants to have gains, and to achieve this end different people have different strategies, some YOLO everything on dogecoin, others only want Bitcoin (in self custody, no wrap versions) and others bet on catching a pump here and there, even others do a point to scam and rob others, this last one is the worst possible way of making money on crypto.
Today I want to present you one option, just for edutainment purposes only (A.K.A this is not financial advice, DYOR) which is the following strategy.
The Strategy
The idea is simple, look for resilient, stablished cryptos, you know what I am talking about, cryptos that have strong communites, cryptos whos market cap is resilient against sell offs triggered by a single whale selling.
Mainstream coins, these usually are on the top 50, those coins.
Then What?
Okay, once you identify your sort-of solid coin, you invest, invest and invest some more (DYOR of course) and then you wait, and wait and wait some more.
Now, since waiting is such a significant step of this process, you cannot play with rent money, this is not for swing trading, but for the end of the bullish run type of deal, why? let me explain.
How it Works
Let's suppose you have one thousand dollars worth of crypto invested on one mainstream coin as described above, now, the idea is that you will wait till more risky users of cryptoland sell their risky coins (like safemoon, but assuming all the risk) and choose the coin they are truly fond of, which in this example is the coin you have been accumulating for months now.
While they were risking getting rug pulled on DEFI coins, you were sleeping calmly as a potato, and if they manage to make profits you can share in their success via proxy.
Just like you have your favorite alts that you buy every time you get a bonus or an airdrop, so does other people.
For instance, for me, LBRY is a coin I try to accumulate whenever I have extra cash, is one of my favorites, so if you were to accumulate LBRY, while I am hunting 30x gains on an obscure alt, you could (potentially) share on my own gains, since I will pump the coin you will hold with my gains.
And that's it, with this strategy you can delegate your risk, letting others do high risk hunting, while you accumulate safe-ish coins.
Exit Strategy
Once the inflow of fanboys hit your safe-ish coins and make them pump, you can take profits by stacking sats (BTC) or the stablecoin of your choice.
What do you think of this strategy, are you going to use it? let me know in the commens down below.
I collect various coins and tokens.
I like both Bitcoin and Dogecoin, but going all in on either of them is just foolish. Everyone should diversify their portfolio.
Setting the target is very important as this gives you the motivation.
Your exit strategy depends largely on your goal, you decide when to exit based on you goals, if you want to stake or sell.
Yep, an exit strategy goal is crucial.