One of the things that I have always told people about investing is that it is not a get rich quick scheme. Unless you have a lot of money to pour into the market and are very good at swing trading, it will take time. Sure, you may get lucky and buy in at the right time with some project and then watch it shoot up, cough Chainlink cough, but those are few and far between.
One thing I have learned during my time in the crypto trading world is that you need strong hands and patience. The patience is one of the things people struggle with and I think that is mainly because of the massive bull run we saw in 2017 before the huge crash. People got used to seeing massive gains in such a short time and it became expected.
So one thing I took away from the bull run of 2017 and the following crash and bull market was to be patient. I learned to invest for the long term. That is why I just bought another 50 LEOMM and some more PAL from SteemEngine.
The LEOMMs have been producing a decent amount of LEO each day. It is hard to tell how much because I log in and claim the balance a few times a day. I will need to just let them run for a full 24 hours and then claim the balance and see what it is and then report that.
The miners don't make very many LEO, but it is a constant stream for as long as they are staked, so in my opinion, they are a decent investment for how I will be using the SteemLeo front end. I plan on keeping them doing their thing long term and even if I am not posting much using the #steemleo tag, they will continue bringing in LEO. If LEO continues to rise in value, then this purchase will be more than worth it.
One of the cool things about the crypto world is that I have been growing my stake here on the platform and growing my portfolio just by trading my crypto for other crypto. I rarely put my fiat into crypto anymore because. The majority of the fiat I put into crypto was in 2017 during the bull run. I was able to make some smart trades when the prices were very high and move some of them into USDT as the prices tanked, then rode the wave making some smart and not so smart choices over the next year, but overall, the bull market has been very profitable. Buying in the red is one of the greatest takeaways from the bull market and understanding that massive spikes in price up mean there will be a massive fall in price shortly after.
Well, I think I am going to end this since I am beginning to just ramble on. The main premise behind the post was to invest for the long term and not to expect to get rich quick in the crypto game. It takes time and it actually does take some money to make money here. Unless you have rich friends that will support you, you need to support yourself first. It actually benefits the projects you are using when you buy into them too because you are adding value to the coins you are mining.
Thanks for stopping by. You are awesome.
