Let your Gold work for you: Staking and farming versus Hodling versus Taking Profit

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Yesterday I bought a coin launched on Binance Smart Chain and staked it. I spent half of my $Busd on it. A lot of persons I interact with in an Airdrop group did the same. I feel most of us bought a hype but time will tell. Why am I telling you this?


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You see on the average, most persons I have had the fortune of chatting with over the Binance Smart Chain revolution that is making everyone excited these days are mostly hodlers. They buy a coin and hodl for a pump then they dump to take profit. It's a viable system and works every time. At the beginning this was how I operated. I bought, I sold, I withdrew to my bank, bought some beers, ate some food and smiled at my bank account. One thing I have learnt from owning a bank account is you never making profit from keeping money in your bank account.

Now this bull run will find its top soon. It may not be this week or next but the bear market will come as sure as the sun rises and sets. What then? What will bring the money to your wallet if all you do is buy and hodl? Some of the overhyped projects presently will lose value during the bear market and many will never find value again.

As someone who is in bed with Airdrop hunters of all stripes, I know that there are those who once an airdropped coin finds value they sell and do not look back. They are loyal only to tested and trusted projects like Btc, Eth, BnB, Cake and the like. Nothing will make them keep Airdrops for long in their wallet and if they do so it would be because it is pumping.

There are so those who fall in love with anything or rather it is just simply a variant of the FOMO syndrome. This variant does not stop at buying tops and hodling but also getting too involved with the project that sentiments begin to make decisions instead of tokenomics of the token. This leads to premium tears sometimes or rather, most times.

Yet, the DeFi space has brought, for the average person with a little dollar in their pocket, the opportunity to invest, to own shares, to receive dividends from solid projects that they normally would not be able to afford. One Cake is 40$ at the time of writing this. Not many can afford one. Yet because of the staking and liquidity pool made available to all, with one cake, an investor can get some small return without having to buy and sell.

A lot of persons were airdropped Cub on this here platform. Many sold and moved on. The price was good. I got 1 cub and I staked it. The price fell and I bought more Cub and staked it. Those who sold made some free profit. That is fine. I have not eaten one dollar from cub. It is still staked even as I write this and it is my intent to leave it so until the next bull run.

Something I learnt on Steemit, on Hive and later on here, Leo is the benefits of not just hodling a coin but of staking (powering up). You see in my early years on the blockchain space, I sold every SBD and Steem I could lay my hands on. I kept smiling to the bank. When the bear market began I had nothing to feed on. This meant more work. I had to write more. If I had kept what I ate and powered it up, I would have had more. In fact, I sold off my last steem just before this bull run began. It was that last 200 steem that carried me into the DeFi space.

What is the point of all this rambling you may ask? Is it better to buy a coin and hodl or buy a coin and farm it? If a coin has the farming or pool option would you take it or would you rather buy, wait for pump then sell? Would it matter if a coin you bought for 4$ drops to 1.4$ while staked? We are all in this to make some money, yes? We seek financial freedom, yes? What are we willing to sacrifice to get it?

For me, there's nothing sweeter as collecting dividends from a project every month. I can't afford to buy shares in fortune 500 company yet but I can buy shares in a solid crypto project and watch it grow. My favourite book on finance, The Richest Man in Babylon says,let your gold work for you. This is a path towards financial freedom.

My points do not only stand for DeFi projects but also for Hive and Leo, projects that have the staking option. I know there are those of us who attempt to live off our earnings here. It is not easy, I can testify. I have been at it since 2017 and most of that time I was broke. There were times when all I could get out of steemit, hive and whaleshares was 4$ in a whole week. That is being broke in any definition. I don't want to go back there. I expect that you will sell some HBD and Leo from time to time especially now that prices are still good. But look long term also. Ensure that you are powering up some. Grow your wallets. One day those coins will birth more coins for you.

PS: I know little or nothing about Blockchain and cryptocurrency or even investment for that matter. I am a poet putting my nose into a complex place so don't take my words as financial advice. Always Do Your Research. Save yourself the heartache.

As you were



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Always appreciate your thoughts on these things. I am here for the enlarged ending 🥴🤭

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