What’s My Investment Strategy?

Hi guys, this is my submission to the Hive Naija weekly prompt with the question What is your investment strategy?....

When it comes to investing, I’m no professional, I invest mainly in crypto and my aim is to invest my way into building a sustainable and comfortable livelihood for myself and family. As far as this goes, I’m only a little better than I was when I started this crypto journey almost 4 years ago but I’ve been able to craft some patterns I follow or not follow whenever I want to put my money or time into a project which may or may not contribute to why I’m still broke(broque). Lol

Ever so often, there’s always that person who got into crypto not knowing anything, makes some ill researched investment and makes a shitload of money from it in a relatively short time. I’m not that person

Everyone wants to be that person, but sadly not everybody can be that person lol. Investing takes a lot of research. Just the other day, a friend asked me how I do research on the projects I invest in but the truth is, I don’t have one particular way, neither is there one particular pattern to follow, I like to be as intimate as possible with the projects I’m investing in, I follow the developers, their social media handles, listen to their podcasts, follow their mum, dads, brothers and cats(exaggerated), their discussions almost everywhere I can find them.

I guess one thing I do is look out for the developers social reputations. On the blockchain space, social reputation is a big deal even amongst developers, they do take credibility seriously and I capitalize on this to make up my investment decisions. As soon as I familiarize myself with the developers, then I take a deeper dive into the projects they’re building.

For example, I knew @aggroed and @yabapmatt for almost a year during the Minnow support days before they launched Steemmonsters now Splinterlands, if there’s any project they’re building now, I’ll most likely be involved it because of their track record and credibility. There are other noteworthy examples like Blocktrades and dev teams from Leofinance who have constantly delivered over the years.

Investing in solutions

The relevance of the project to the times or the use case as most people will call it, the ingenuity of the solutions the projects offer. Look at Bitcoin and it’s immense benefits to every single human being alive. In the case of Bitcoin, the developer(s) were unknown by design and quite understandably so because Bitcoin came out as a finished product. Many other projects need continuous updates and iterations which is where the lead developers of the projects come in to play.

What does the projects token do? Will everybody need to have it? And not just people in crypto, will everybody and their mama’s and their mama's dogs need it? It doesn’t end there, I take time to study whitepapers, I also like to go for projects with stake able tokens that give ability to grow without the need to invest heavily in hardware devices.

Hive fits perfectly as an example here, besides staking Hive for returns, I use it to provide value to the platform by distributing it through my upvotes, distribution is good for decentralization and upvotes make people smile and build their accounts as well which in turn brings value to the token while also participating in governance..perfect!

Long term potential

Speaking of decentralization, I like to invest in projects where I know I could build on for years and not one person can wake up to shut down my account just because his wife didn’t give him some sugar at night. Projects that uphold the Bitcoin ethos are attractive to me. I try not to chase quick profit making schemes, 98 out of 100 never end well.

Then I like to catch them young! As they say, early birds eat the fattest worm. But this comes with its risks because being too early is a thing, the project may or may not take off(the worm fit hook person for throat), but also as they say, the bigger the risk, the bigger the rewards. Which leads me to gut feelings! Deep down in my guts if I feel a project will do well and I can afford to invest in it, I will.

Learning from others

This has come through for me in unexplainable ways. In a community like hive, there’s almost no limit to the amount of information one can come across...I’m still learning...a lot daily while taking note of my own experience by sharing in my blog, hoping someone could also learn something.

I read Nonso’s submission and related to it a lot...y’all should read it.

You see, I’m still a noob investor, I’m still learning the hoops of doing T.A, even after all the points mentioned above have been followed, there’s no 100% assurance that they will perform well. A lot turn out to be a hit and miss but I’m glad quite a few have been a hit and for the ones I’ve missed, I’ve learned from. These are what forms the premise of my investment decisions and hence my investment strategy.

I’ll like to know your thoughts in the comments. Thanks for reading.