After listening to Episode #2 of the SteemLeo Show I decided to write about my crypto investment approach.
I came to the crypto world relatively late, in the fall of 2017 after hearing about it on Tim Ferris Show and later on James Altucher Podcast. Because I love podcasts, I googled some crypto podcasts I started listening to Bad Crypto Podcast because I needed much education in this area.
At first I didn't know what I was doing but I heard about the theory that one should have variety in one's investments to hedge risks. So I bought some of the coins which were at the top 10 on CMC at the time. But then the bull-run happened and without wanting to invest more than I was willing to lose I got carried away with FOMO and bought some of the coins which had the most hype AND ranked in the top 30 on CMC. Maybe top 33.
But this diversity in my portfolio spread me too thin. Maybe the risks were a little lower but the potential to earn the most also wasn't the greatest.
The biggest problem was that I wasn't feeling attached to those projects. I didn't know why exactly I chose those coins over others.
Then in January of 2018 I came to Steem and everything changed. I started posting my Pinky and Spiky comics every day, I got involved in Artstorm community, I created my own contests which I run up to this day. Little by little my interests grew wider and I got interested into how the platform works etc.
Naturally then I decided to go all in on Steem because this is the project that really means something to me. It's become an integral part of my day. I sold most of my other coins and powered up as much Steem as I could.
But then the bear market hit and I started investigating some of the other blockchain social media sites. I invested in some of those as well but never left Steem. Never powered down any Steem to invest into other projects.
As it turns out the bear market may not be over yet but I certainly didn't feel the meaning behind some of those other social media projects. But because since the start of this year development on Steem has been increasingly active I decided not to look back and focus exclusively on Steem (with the addition to a wide variety of Steem Engine tokens, of course).
Why? Because as @exyle says Steem is blockchain of opportunity.
So this is my crypto approach in summary - I had to find a project with which I have a deep relationship, do tons of research and then go all the way in without hesitation.
What do you think?