With the current stall in the price of BTC and push in DeFi projects, I was able to move some fiat into Cryptocurrency this weekend.
Looking for something new to pick up, my sights landed on Algorand. This proof of stake, open source project has been seeing good upward action of late and I'm hoping the climb continues.
At the cost and for the amount I invested (about $50.00 or so), I wasn't too worried about doing intensive research beforehand. Still, I jumped over to the Algorand website and did some precursory investigation.
Rather than try to put it in my own words, let me quote ditectly from the source:
"Algorand Inc. built the world’s first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction from financial exchange, Algorand Inc. is powering the DeFi evolution by enabling the creation and exchange of value, building new financial tools and services, bringing assets on-chain and providing responsible privacy models".
If you're interested in investing in DeFi and you haven't checked out Algorand, you might want to take a closer look.
Some of the tokens I acquired through the Coinbase Earn program haven't been seeing any action. EOS and Ox were a couple that I didn't have much of, but moved to other DeFi coins anyway.
In addition to picking up Algorand, I was able to boost my Hodlings in both Chainlink and Tezos. Had I waited until this morning, I would have had a better deal. In the larger picture of what's to come, it feels like a good time to increase my assets.
With a small amount of HBD to spare, I headed over to Hive-Engine. Actually, I headed over to Blocktrades first, and turned it into around 22 HIVE.
I was able to pick up some LEO at a good value and had to go up to receive the rest. It balances out in the middle, I suppose. You can see my trades from the Hive-Engine block explorer below.
Once the LEO came in, I put it directly into staking. The way I see it, there's no better way to earn more LEO than to stake more LEO!
And fiat too. We still need that cash to pay the bills round here, but it sure is nice to be able to invest some of it into crypto. Finally!! My wife is beginning to see the light.
Now I need more stable coin in my holdings in case BTC dips before it makes enormous new gains.
Disclaimer: None of the above is financial advice!
Thanks for reading and as always....
Algorand Logos Courtesy Of Algorand Media Kit
Images Captured As Screenshots
Bottom Image Courtesy Of Hive.io Brand Assets
