New To Crypto? Ask Yourself These 2 Questions...
I learned a valuable lesson when I jumped back into the crypto world...
Caught up in the hype of 2017 and early 2018, I dove into everything. If you remember the HODL challenges @richardtaylor and myself took part in, you'll see records of buying pretty much...
Anything that has green signals!
It was bad...I thought I did my homework by simply reading some white papers and checking out the projects' road map. Seemed legit, everything was pumping back then!
But a few months into 2018, I calmed down. Mostly because I knew this bull run was too good to be true, but more importantly...I had NO idea what these projects really stood for.
I need to see, actual use cases.
So this is the time I stopped dumping money into everything and anything I could and focused on projects I actually understood.
I decided, this was the best bet for my portfolio in crypto...
BTC - bitcoin
LTC - litecoin
BNB- binance coin
BAT - basic attention token
STEEM - ummmm steem coin??? lol
Simple. And I could explain each project to my mom...Which is huge. If she could understand it, I knew it made sense lol
Obviously, I focused on STEEM...Mostly because I used it. Every. Single. Day!
I was blogging. Vlogging. Streaming. Building. Growing...This was the perfect project for me. It fit me like a glove.
The only projects I dove into, made sense but STEEM was my baby. And unlike more popular saying in the investment world...I was emotionally attached to it.
So there is a little pump going on right now...
Everyone is super excited about Bitcoin going over $9000...Meanwhile STEEM sits around 40 cents.
And you know what?
I'm fine with it. Simply because...Price be damned.
I USE this stuff. I see all the work being done on this blockchain and I'm as bullish as ever. I've said over the year and a bit that I've been on STEEM...If you see the value of STEEM at 4 bucks, you HAVE to see the HUGE value at 40 cents.
And that has not changed.
Sure there are people that will take money from STEEM, power down and jump into other projects and that's fine. They are free to do that...
Me myself?
I'm sticking to what I see and what I know.
There is simply no better project anywhere on any other blockchain....From Steem-Engine to PAL, to @threespeak to #Seven77 ....You just can't beat STEEM!
So my advice to anyone that is new to the blockchain and crypto space...And with bitcoin at 9k, you know there will be new people coming on board....Ask yourself these simple few questions before investing your time and money into any project...
1. Do you understand it and can you explain it to your mom?
2. Can you use the token / coin...Right now?
Those two questions always seem to come up with the same answer for me...
It's a no brainer...The easy answer is STEEM!
New to STEEM? We can help you @SteemSavvy
Posted from my blog with SteemPress : http://plus1daily.com/new-to-crypto-ask-yourself-these-2-questions/
Nice to see you help all the new guys
i’m doing my best :)
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Very good question we always need to have in mind. I've seen coins with no usecases going to the Moon, and some stayed there (dogecoin?), still I believe in the ones where value is created (Steem, Bitcoin, EOS, BAT)...
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yup. blows my mind. but i love the stuff i can actually use
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The basics thing is that if the project is good and normal people is able to understand it that project can be grow in future. If the project is really complicated to understand and people is pushing them to understand it that peoject can be sucessful is hard to believe.
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exactly. normal people able to understand and use it. that is the key. and why i love steem :)
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I'm in love with your choice of portfolio
thank you kindly :) to be honest. it’s the only crypto i understand lol
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Yeah ..... Steem is the very best. I made $40,000 USD in 6 months with Steem. From Nothing. I moved some over to Bitcoin, Litecoin, Ethereum, Binance, TRON, XRP etc ... at the Peak.... (when Steem was at $8 and Bitcoin was at $20 k) ... So my Portfolio has dropped to around $4,000 .... but this is all from just Blogging here on Steem. Zero fiat investments. So I have $2,000 in Steem (4500 Steem) and $2,000 in all the others so We will see how I do. To me Steem is the best since it is only with blogging here on Steemit that I have any Crypto at all.
love that example. yeah i joined at the peak. so i could get as much as i wanted until the bear market. still glad i did tho.
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Hmm would my mother understand Steem, I kind of do not think so as my mother would be 105 if she was still alive. The internet in 1993 when she passed on was not even heard of by most folks. BBS's were the rage then that she understood. As for using the token ASteem is the best for a big yes on that one, I use it everyday. I do not mind if Steem price stays where it is till the end of this year, as that will help me reach my goal easier.
i love that it’s still low. allows me to
stock up more :)
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I do really like the use cases, have to give some thought about explaining it to my dad.
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my mom kinda understood it. once i said ‘i just get to meet really cool people everyday’ she was sold lol
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Well that is truly why I hang out here, the awesome people I meet.
I am happy with the really slow growth of STEEM price. Much safer investment, plus allows me more time to get together some more fiat to invest.
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agreed. i’m on a mission to make as much fiat as i can. and turn it into steem lol
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Excellent review @jongolson and I think that the Steem is an excellent investment, especially since Bitcoin has grown now and I see that the Steem is growing a bit at the moment too, it pleases!
yeah i still dollar cost average into bitcoin. but i stock up on steem.
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Those 2 questions make perfect sense. There are so many new people coming in the space it is starting to feel like 2017 again. But will those 2017 pumps come for all alts ? Your guess is as good as mine....
In this day and age , if you can’t use it now and can’t explain it easily ( to moms, love that ) forget it. Well said. Too much regulations sneaking around.
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yeah. they are going to try to get their chunk of change through taxation and other fun government tricks lol
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