Many investors have no crypto plan due to having very little or no knowledge which is hard to comprehend, but this is true. Having a strategy will set you apart from the rest and in time will produce dividends that they will only be dreaming about.
How things change the longer you are involved in Crypto as the biggest change is you start thinking for yourself. In the beginning you are heavily influenced by what others are doing and possibly why successes are limited as there is no fortunes to be made by copying others.
Breaking away and coming up with your own strategy has to be the answer in order to becoming more successful. There are no real right or wrongs when it comes to investing as long as you have researched the projects you have invested into. There is no point in researching a meme coin as the use case long term doesn't exist hence the future will be uncertain. Over a short period of time the investment may do very well due to pump and dumps, but as along term hold it would not be advisable.
I have seen many crypto "experts" who say that Bitcoin needs to make up 80% or 90% of your portfolio and that is not necessarily true. If you are going to be active in your investment then the more you have where you are busy everyday makes more sense. The bitcoin advice makes more sense if you have loads of capital compared to someone who is still growing as you can grow far quicker in a smaller capped crypto project as the value has yet to be realised.
Someone trading versus staking will see crypto in a total different light and why taking advice form other sis risky as they may only be looking to sell at some point. A staker is someone who has the vision to see long term and we are talking years and not months. I see a staker as someone who can outperform a trader over a long period of time just by the accumulation method by earning the APR and compounding the rewards.
My strategy is one that will take time and I know already it will be successful due to the research which has taken a good 18 months to achieve. When you know that your investments are sound and they are growing then you are already ahead of the game. Price means absolutely nothing right now as the price will be realised when adoption takes place. This is why finding your own gems to invest in is that important as the money will follow you at some point and not you following the money.
Finding investments putting you in front of the curve is important as it gives you time to become established before it is too late due to the price rising making it more difficult to grow. This is why having your own strategy and not someone else's is important as you are doing the work required to make a difference.
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I just realized that although I have this target for my HBD savings and interest on interest, that I have a loan that is on a credit and an interest range that is greater than that 20% from the HBD... Which means, if I am not mistaken, that I would benefit more in the long run if I payed those bits and pieces into my loan instead of into the HBD savings.
Am I right?
100% right as getting rid of the loan should be the first priority.
I think I shall keep the near $100 in the saving slot here as a rainy day fund. Its is good to have a backup!
Well said. Its not the best option if ever it was an option in the first place to follow other when we can discover what works for us and do only that without trying to do what others are doing.
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