I've been glad to see the crypto market rebound off the bottom the past few weeks.
I implemented a strategy of:
For instance, a month ago I missed the NEO train and was afraid to buy it as it skyrocketed. Well, during the dip it crashed down well below $100. So I bought some at that point. I also increased my stacks on several cryptos I owned a bit of but wanted to grow (including Loopring, Power Ledger, Quantstamp).
What I have now been happy to see is several projects making progress to getting their mainnet going, their apps working, their service into production. We have primarily been in speculation land when it comes to buying crypto, since most projects have not even had a working product thus far! Now, however, we are seeing the teams start to release products: decentralized exchanges, mobile apps, wallets, testnets, mainnets.
I had not put any fresh fiat into crypto for a long time, not wanting to lose anymore than my initial investment that I made months ago. But as I have thought about it, I decided that since I believe in crypto long term, I am going to set aside a small amount of fresh fiat each month and deposit it into my account and buy crypto with it, essentially doing a dollar cost averaging with it.
I am also going to keep a certain amount in fiat in the crypto market, ready to buy if we get big dips, or if I learn about new cryptos that seem interesting.
My latest purchase was some BLOCKnet https://blocknet.co/. This project is promising because they will be paying people to stake their BLOCK in a wallet, are working on a decentralized exchange the fees of which will be paid to stakers and service node operators (like master nodes). The problem is that they were only on a Chinese exchange which I couldn't read the words of at all, and on Bittrex, which has frozen new users for months. I managed to buy some BLOCK though and so am trying out the staking.
If I had 5000 BLOCK, I could run a service/master node and eventually be paid a good amount. But at current rate of about $35 per BLOCK, that is over $150,000, so it is way beyond what I could do. Wish I would have been into all this a year ago, when the price was $1 something! But coulda-woulda-shoulda, and even with a small amount you can stake it and receive staking rewards.
Disclaimer: I am not a financial advisor; this is not financial advice. Do your own research, get qualified help, make your own decisions.
