What Do Crypto Investor Do in Recession
Financial recession is unavoidable. It came before, and it will come again shortly. However, let us talk about things in front of us. We have many things in motion right now.
China is going through lockdown and Covid deaths again. Ukraine-Russia is playing chess. America is rebooting weapon sales and middle-east War. In short, everything is going back to the 90s.
Knowing all this, how would the crypto investor take action or avoid some problems?
Let's talk about what crypto investor should do during the recession times.
Revise the Portfolio
I made mistake with the Cardano investment and Litecoin. I noticed it does not have much demand like I speculated. On the top of it, we ended up in dip which shows us not a lot of growth for many alt coins.
What to do then? I suppose clean up of the portfolio would be a good choice. We have lot of useless coins that didn't even reached Top 50. And we have hopes for years in them. Not every coin deserves our attention.
Add Staking/Delegation into Portfolio
I ignored the delegation for years. But recently I got into the delegation and staking of some altcoins. I started with MATIC staking. I hope to add more such coins in near future. If things continue to stay in favor, I'd do good in this space.
Hive has a lot of curation accounts with LEO Power and Hive Power requirement. Give your unused HP to some of such curation accounts and build some of the rewards. This can be handy especially in the times when the content creation or any other activity is not performed by you.
Do check out the CUB Staking too, here.
Keep Building Hive Account. Keep Diversifying
Now just because we have recession outside does not mean we should stop doing anything on hive. We have to continue the content game. Keep playing and working on splinterlands as usual. And keep diversifying.
As long as there is a motion, the recovery becomes lot easier. Some of the time that recovery is going to take a bit of efforts but it's possible to recover from most of the market changes even if it means waiting for an year or so. So diversify in other assets too.
During recession investors feel helpless. I am one of from them too. The thing is we have to take one day at a time and go slow. It's not going to get better unless we learn to slow down.
I would love to know your mode of action too. What are you planning to do during this recession times?
Posted Using LeoFinance Beta