Everyone here on Steemit wants to make money. I do,an I'm sure you do also. Whether its through writing $100s worth of contents, or becoming a resteembot, or even through investing in raw STEEM, add trading SBD to it, we all seem to want something nice and cool from this platform. It is great. Ain't nothing wrong with that. The only problem is this : how do I do it?
I've been asking myself and others this question since I joined Steemit last month. And the reply has been
1. Write great content
2. Build a following base
3. Stalk the whales
I've tried these formulas though,even stalking whales. Even though stalking ain't my natural thing,I had to do it for money. Guess how much I've made? Approx. $45. Let the drums roll!
So,more than before I began to search for ways to solve my not making money on Steemit problem,and I think I've found a very great plan. I haven't tried and tested it yet,in all honesty. But I've already started it.
So guys,here is the plan. There are three steps to the plan and here they are.
1. Build a large following
2. Invest technically in SBD
3. Invest fundamentally into STEEM
And that's all. I followed the KISS Principle: Keep It Simple, Stupid.
Build A Large Following
This essentially means you gotta have a lotta followers. Right now, I have 70 followers, and I plan to reach 200 at the end of February. Why? How does building a large following helps make money?
By building a large following (through lots of sensible comments on posts you like and posting articles everyday), you are expanding your tentacles. You are gaining more voice on the network, more people get to see your work. How does it help?
Imagine you have a following base of just 50 guys,the maximum number of people who can see your posts,apart from resteeming. Now, factoring in time zone differences, lack of free time to come online,only about 5-10 will actually see it. Out of this max 10 guys,only 2 upvotes you with total voting power of $0.1. Do you see that now?
While I do know that your new posts will be visible in the new tag section,the chances of getting upvotes there is pretty low.
This other guy instead,has 1000 followers. Using the same statistics as above,about 100-200 get to see it. If 20% upvotes you (like above),you should have at least about 40 脳 $0.25 = $10. Look at the difference! Now, because you have this much upvoting you,let's assume about 10 of them resteem the post,and on each resteem,you make additional $1,that's a total of $20. See the difference it makes?
Invest technically in SBD
This is actually a bit more complicated than the first way. Here,you are actually investing. When it comes to investing,there are two types of investing : technical investing and fundamental investing. Technical investing is one simple investing technique that is used by simply playing on the market's emotions.
For instance,about a week or two ago,there was a dip in the value of most cryptocurrencies. The market's emotions was generally fear which caused some folks to sell or cash out. The technical investor knows that this is the time to cash in,to buy crypto at a low rate. So,when it goes up back,he probably sells. See that?
The technical investor doesn't care about how profitable or healthy a company or crypto is,his is to play on the emotions of the market and profit on it. His best palns are trend charts. He knows a lot about it.
For me,the plan is to invest in SBD. I'm trying to get all the cash I can get now,and waiting for the market to crash. Now,some y'all gonna say it won't. Listen, every market crashes. It is in their design. So I buy SBD at say, $3,then ride the wave up to $7-$10. Then, I sell. Simple plan. Make approx $5 profit on each SBD for max of three months. Imagine if you have 100 of that. That's a cool $500 profit in 3 months. Not a bad bargain.
Invest fundamentally into STEEM
To the fundamental investor, management is key. He wants to know how much the company is growing. He isn't really concerned with the highs and lows,the dips and tips of the market. His concern is the projections and financials.
These are the slow and steady guys. To do this,buy STEEM. It is reported that STEEM could reach $100 by year end. Is it possible? I don't know. That's why fundamental investors do their researches. STEEM now is at a low price,say approx $5. Try buying every week,and buying a lot during dip in prices,and you could be on your way to a nice fortune.
It won't be bad if after 5 years, STEEM is worth $1000 and you have 1000 of it. That's a cool $1 million. Not a bad return in 5 years.
So,that's it. My plan. It's a very simple plan. Make a lot of SBD through a large following base,buy some more SBD at low price,sell high, and hoard STEEM. That's all I plan on doing throughout this year. It's almost a fail-proof plan.
Disclaimer: All information here are opinions of the author and should not replace your own thought process or adequate financial expertise. On no occasion would the author be liable for any undesirable result as an outcome of his opinion. Opinions should not replace your facts.
So guys, I'd like to hear your views, use the comment box,upvote and help resteem the post,it won't cost you a dime. Love ya.
