Instead of thinking about how to make a buck faster and easier if you want to truly earn consistently and constantly from blockchain technologies, you just need a switch into thinking and understanding that crypto is all about the long game. We need to plan well and not be afraid to take a risk as otherwise life continues on and we'll find ourselves standing still after years and years. Most people are just complacent and if you double that with a bear market you'll see that all have run instead of staying and growing their portfolios for a fraction of a normal price. This is the time when riches are made.
One way to apply such a long-game strategy in crypto is through Dollar Cost Average (DCA). I've started doing this for more than three months with about $300 a week and I am repeating it each week regardless of the price of the chosen crypto assets. I play it simple and I buy into Bitcoin (BTC), Ethereum (ETH), and Hive Dollar (HBD). Probably I could do better by choosing Hive instead of HBD, but as my portfolio lacks any stablecoin I am building that even if not very wise to do that in a bear market. But I just need a stable income and having a 20% APR just holding that into Savings is pretty easy.
Besides the DCA, I am watching some other cryptocurrencies like ThorChain (RUNE) and I will probably grab some more while the price is still cheap. I am not expanding into too many assets besides these, but I try to put the others at work through different strategies like staking, depositing into treasuries, liquidity providing, or even lending. This ensures that the assets grow in numbers, but at the same time I am trying to mitigate the risks from the markets.
I now wonder what's your game plan on crypto and if during this bear market you are pushing through or missing the motivation to keep up the high levels from before. I believe that the tide will turn around and all of us who put in the time, and the work, and take the risk will be the ones thriving, but I just wonder how are you seeing this as well. Shoot some new lights in the comments!
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Yeah I agree the long game, I have been here since BTC was $2,000 have patience.
https://cryptodaily.co.uk/2022/11/mattel-launches-nft-marketplace
Here's where I have been focusing on investing in the Bear Market, WAXP, Mattel has a massive project rolling out on WAX blockchain in the coming months.
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I am too involved in the WAX blockchain for quite a long time and built quite a considerable stack there. Hopefully, in the next bull market it will take off and we'll see its token above the $1 mark.
Yeah its good that companies like Mattel, Capcom, Funko, Topps, Sony, & Marvel utilize WAX for NFTs legitimacy is sorely missing from the NFT market. When big companies sign on with something as versatile as WAX its the kind of attention needed.
It's definitely a long game and I also like HBD for the 20% but I don't think the 20% will last forever. At some point, it will end, but I will continue to add to the savings while it is still going on.
Posted Using LeoFinance Beta
I think we are a long way from dropping g the 20% APR on HBD as it is yet unutilized.
Definitely, crypto is a long game
If some investors are in for a quick back it might work one time, even two times, but in the end, they will face a wall and maybe lose it all. This is why playing the long game, building up and steady will ensure passive income afterward.
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