So I saw some posts advising newbies to reinvest their money in Steemit by default.
There are two questions I think you should consider before doing so:
- Am I able to make an informed decision?
E.g. do you understand the economics of Steem? do you understand potential legal risks etcetera
- Am I financially comfortable?
e.g. would an extra $1,000 make a difference to my life, or can I afford to lose it
Assuming the first question is no.
We're individuals. We all have different lives and are in different financial positions.
To some of us, several thousand dollars is negligible, to others several thousand dollars would enable them to rid themselves of debt, or could help to pay bills etc...
My advice, if you've earned an amount of money that is significant to you on Steemit, is to consider whether you're prepared to lose that money.
That is whether that money is sufficient to improve your quality of life to some arbitrary degree, rather than just reinvesting it to earn more, based on insufficient information.
