Make your cryptocurrency work for you.
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A lot of people that I know have crypto holdings. They hold it because they think it will rise in value at some stage.
And maybe it will.
However a lot of the altcoins will die away and have died away over this extended bear run. Most were over hyped and had more marketing budget than development budget. How many of the blockchains have real working products, ways to add external revenue or can improve or replace an existing service. The list starts to get very short very fast. Where is their value based?
A lot of the people that I know bought in 2017 when crypto was running up the walls. Most of them still hold this same amount that they payed for and it's still sitting either on the exchanges or in a wallet if they have any sense.
They hold with the sole intention of the price rising in the markets. That is how they expect to make their returns and have seen up to 95% wiped of the value since the tide turned almost 2 years ago.
I also own crypto. I own small amounts spread across lots of projects and I own lots of STEEM.
Why??
It's simple, STEEM has a large active userbase. It has great developers and most importantly it has multiple working apps, projects and front ends. There are only a handful of blockchains that can say that.
I could go into the future prospects of
Splinterlands
Steempeak
3speak
Dtube
Travelfeed
But these are all just by-products of the STEEM blockchain and what is possible to build upon it's cutting edge system. I could add a hundred more if that's what this post was about. But it's not. I love the community and enjoy blogging, gaming, commenting to earn small amounts of STEEM and I'll keep doing that. I enjoy putting in the time to earn the rewards but that's just me.
This post is about all that crypto that you are sitting on and waiting for others to drive it's value up so that it makes it back up higher than the bull run of 2017. That crypto that has been sitting there useless for the past two years as it kept losing value.
There is also a solution for that on STEEM. One that only requires tieing up that STEEM for a period of time while it earns you more without any effort on your behalf.
It's simple and elegant to use your powered up STEEM to lease to more active users and get a return on investment.
Interested.
You should be. Why waste time with alt coins that have no development and sit there when you have the chance to buy into one of the best blockchains at the bottom of the market and earn a return just from holding it.
The numbers.
I'm just going to make an example to see how his would play out.
Lets say that you have 1 bitcoin. This bitcoin will probably gain value over the next 10 years. It could even go 10x. Maybe, but there are no guarantees in crypto. Will it go 2x in the next year? Hopefully.
Instead of sitting there for the next year looking at a price chart, why not make it work for you?
Lets take that bitcoin and buy some STEEM.
Look!
I now have 58,712 brilliant STEEM tokens instead of that useless Bitcoin sitting in my wallet. I lock it into my STEEM wallet turning it into STEEM Power and making it usable on the STEEM blockchain. ( Takes 13 consecutive weeks to fully power down once locked in.)
Using that new SP I go to Dlease.io and look at the delegation market. There are others but this is the cleanest and simplest to use.
You could take that 58,712 STEEM and accept some of the market offers. With this amount of SP you would be earning roughly 33 STEEM per day or 12,057 for the year. ( These are all rough estimates based on average APR and not to be taken as fact. )
This also doesn't take into account the compounding nature of your investment and adding that 12,057 back into the delegation market to increase your return over the year. Year 2 you would get back 14,519 ect... Within 4 years you have doubled your initial amount of STEEM invested and that is not taking price action into account.
If the price of STEEM rises to an appropriate level to reflect it's value then in four years you could be seeing a lot better returns than looking at your bitcoin sitting in that wallet.
So how can a person do this??
If this has interested you then the first step would be to create a STEEM account. Unlike the other blockchains you can use a normal username rather than a chain of numbers for your wallet.
STEEM Ninja provide a handy service to sign up instantly for just $2.50 with an initial 90 day Steem Power delegation to run your account with.
You would then need to power up any STEEM sent to your wallet and lock it into the chain. All of your STEEM and other STEEM based tokens can be accessed through the secure STEEM Keychain extension or accessed on Steemitwallet
The Steem Keychain extension currently includes the following features:
- Store an unlimited number of Steem account keys, encrypted with AES
- Easily view balances, transaction history, voting mana, and resource credits for all of your accounts
- Send STEEM and SBD transfers right from the extension
- Securely interact with Steem-based websites that have integrated with Steem Keychain
- Manage transaction confirmation preferences by account and by website
- Manage automatic lock settings to lock when the browser is closed, the device is locked, or after the browser is idle for a specified period of time
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With your new found STEEM power and access to the STEEM blockchain there are actually hundreds of things that you could do with it but for passive invesment I would send you to Dlease.io to select which delegations you would like to fill from your STEEM Power.
Once you have these delegations filled out you will get a daily payout into your STEEM wallet and a memo when the lease runs out or if it gets extended. Then it just needs to be cancelled and you can lease again.
Why not make your crypto work on your behalf?
Why not invest into a constantly developing blockchain?
Why not actually use your crypto instead of just looking at it?
Everything in this post is from my personal experience and not to be taken as fact. It is intended to give you an idea of the possibilities provided on the STEEM blockchain rather than investment advise. Any questions, feel free to ask in the comments.
I prefer one bitcoin instead of 58000 Steem!
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I second that.
Also Boo.
Boo. Bad steemian. Also it will take far less to double the price of STEEM than it will to double bitcoin never mind increasing your stake over that time. Plus bitcoin is boring.
Right now 58000 Steem could easly be 5.8 bitcoins in the future.
Just a matter of time when the bitcoin dominance falls off.
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I totally agree with this. I can easily see steem at 16 dollars in the next 5 years. I can't see bitcoin hitting 1m in the same time. There is so much more room for growth here and it would only take one great app to get people's eyes on everything else in the eco system to do it.
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Maybe Steem will never come back to 1$ and beyond. It is speculation at this stage.
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Maannnnn! You are a wizzard! this is an amazing post which I am going to resteem!
But, why you didn't post in any other less complicated moment?
and also, you should post it in other platforms, facebook and the like...
Thanks man. It's actually written to share with non steem people but if it gets shared around here it might gain some traction. I've cross posted to medium and publishox but have no following there. I'll share to twitter as well and see if anybody pays attention. Feel free to share on any platform that you want to as well.
I just post what i feel like and don't pay attention to the external drama. There are always complications around here but it's a great time to buy in to the chain so....
I am holding only Steem, and i would rather hold Steem then Bitcoin.
Posted using Partiko Android
Same as. So much more that you can do while involved with STEEM and only more to come in the future.
While it is good to diversify, I am with you on buying more Steem rather than bitcoin. I am even earning on Splinterlands as that rental market has continued to heat up!
Posted using Partiko iOS
With Beta packs almost sold out, there could be a good future in the rentals going forward. Especially the summoners and other rare cards could be very lucrative. It should be a fun next couple of years.
This post made me feel bullish on STEEM. Though I won't go all in into STEEM just yet, I am seriously considering to increase my holdings given the current price.
Steem is still a niche play in the crypto market as I do not see any real challengers yet with the same network effect. My immediate worry is the changes from HF21/22 which the effect may yet to be seen
Hello fellow @niallon11
Your post was upvoted with 39.23% ($0.0122) because you are an awesome member of s77assistant group.
You have earn a total of $0.2155 so far. keep it up.
Together we can achieve our goal and push STEEM to the moon.
You can increase your upvote value by increasing your collected points with one of the following ways:
Don't forget to use EnhancedSBI functionality every day and get 3 SBI shares for every 2 STEEM you send with 2for3 memo.
At the current time my full vote worth $0.0311 but with your help this can change.
Delegating power will increase my vote worth and your reward.
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