What's up Dtube!
When I first joined Steemit about 6 months ago, I basically put all of my savings into Steem and was powering up everything I earned on the platform. I had never invested in crypto currencies before and so I figured, why not put my money where my mouth is (literally). I have so much faith in Steem and what this coin adds to the crypto space. Being on Steemit is a life changing experience for so many, and we are just getting started.
Time to Diversify
A few months ago though, I realized that I basically had all of my eggs in one basket. Anyone who has a shred of investment experiences knows that diversifying your portfolio is key to a long term, healthy strategy.
There were a lot of ways I could go about doing this - but I decided NOT to power down my Steem. Like I said above, I invested in this platform because I believe in it and I wanted to continue building my steem power as I posted.
I decided to do two things to start diversifying my portfolio:
Funnel Whatever Fiat Savings I Could from my Bank
This is a pretty slow strategy, because I don't have a lot of extra money at the end of the month after all of my expenses are taken care of. I live pretty frugally and so I am able to invest some every month - but this would take way to long if it was my only strategy.
Use my SBD Earnings to Diversify
The last few months I have been continuing to keep my Steem as Steem Power (I never never powered down a sing piece of Steem!), but to start using my SBD earnings to purchase other coins. This has been working GREAT and i've been able to invest in some other great coins that I really believe.
The One Flaw in my Plan
I have been getting so excited about various alt coins such as NEO, EOS, Bitshares and others ... that I literally didn't own a PENNY of Bitcoin.
Is it really that important to have Bitcoin in your portfolio?
Yes. Sure, there are other coins that have lower transaction fees, faster processing times and great teams behind them - but the truth is that Bitcoin is still the King of Cryptoland and that's not changing anytime soon.
Bitcoin has an incredibly robust team behind them, they are the trading pair for almost every alt coin out there (which gives it inherent value) and it has the greatest brand recognition of any coin. As new investors come into the space, many will purchase Bitcoin because they feel unsure as to which alt coins to purchase.
My Next Goal is to Reach One Full Bitcoin!
Even though it is SO tempting to continue funneling my extra income into my favorite alt coins, I have decided to focus all of my energy onto getting my way to owning one full bitcoin.
Where am I at?
Well, I had just sent some more fiat through an exchange and i've been saving some SBD because I wasn't sure where I wanted to invest it. This morning I channeled all of that into bitcoin and I am now the proud owner of .3 bitcoin.
I have now reached 30% of my goal! I just hope that I can reach my goal before Bitcoin takes off to the moon again... because that will make things a wee bit more difficult.
Thank You
I just want to say a HUGE thank you to everyone who supports me here on the platform. Without your support, I would be learning on my measly fiat savings to build towards my future.
I hope you guys enjoyed hearing a bit of my investment strategy and I would love to hear your thoughts and questions! I"m sure many of you are much more versed in investment strategies than I am, and I welcome all thoughts and feedback.
Have a great day!
xo, Lea
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