Keeping the Balance and Sanity in not Putting All my Money in Crypto
As crypto gets even more valuable while I gain even more through various ways, the temptation to buy more with my wages increases ever so slightly. Just like any other instances of impulse buying one can impulsively buy more crypto. But I've decided not to do that as often if any, quite a while ago. All my crypto dealings are now pretty much with profits and online earnings. This significantly reduces the actual risk to almost zero, as anything that can be lost was never there initially.
This mindset has some benefits, like not caring as much about what happens, making bolder decisions when trading and or moving around assets. Sleeping well at night is an added benefit to that. Another plus is that even though any sound investment in crypto would be earned back, my funds are not locked into anything for an uncertain amount of time of up to 3 years, like during the last crypto bear market.
It might be tempting sometimes to go "all in", but strategically it's not advised. Some that do it, may get lucky, but others can crash and burn. That's why it's the road of research, level-headed approach and reinvesting what is already online, for me.
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Keep the portfolio balanced!
Indeed. My non-crypto assets are also making moves as we speak. :)
It was me between 2017-2021
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High risk high reward!
The benefit of having your capital in crypto assets is that you have control of your money. I'm not sure if you've read this article yet:
https://www.breitbart.com/politics/2021/11/13/bidens-banking-nominee-calls-eliminate-all-private-bank-accounts/
The powers that be will struggle, but technically they can't shut down a blockchain completely, unless they eliminate electricity or regulate literally everything on the internet like China. That article is just another chapter in their meaningless struggle against decentralization. But interesting though.
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I have been on the same vibe! Working with what I have. I guess since we been it it a while we can do that. I pulled out my initial investment a few weeks ago just as a way to sleep better myself, the trading can keep you glued thouh.
Locked for 3 years, that I am contemplating with Polkadot, actually two years doing the crowd loans , but I plan to do it with a percentage, good way to keep a long term stash and invest in something new.
As soon as I have a good opportunity to withdraw my initial investment, I will do so. For now it's just floating around in stablecoins. I sold my DOT at a peak to buy KCS (Kucoin shares), which gives a high return. Haven't looked back since.
Thank God for stable coins. In 2017 I did not pay them any attention or realized they existed.
Dot is one of the most intriguing projects to me, I wanted to press the trigger and sell some at the peak but it is one of the few tokens I will keep around for the long hall....but there is a dash stash.
KCS is looks good,
that is the spirit, never look back.
The amount of interest returning options for stablecoins has increased significantly since I last checked them out. So it's no wonder they are getting more popular. People also want some "stability" in their crypto I guess.
Well, I am looking back with one eye sometimes. Looking to buy a dip of DOT. As you said, it's probably one that won't disappoint long-term