I first came across cryptocurrency 6 years ago. I was talking to a friend at work, who was trying to explain how Bitcoin worked and how to mine it, and why it was so exciting.
And I will be completely honest, I didn't get it. Imaginary Digital 'Money' which is created out of thin air and is apparently worth something? Just another daft internet fad I decided, and promptly dismissed the idea.
Three months ago I was encouraged by another friend to join Hive, again the explanation involved 'Digital Money' but this time it was linked to posting interesting content and getting rewarded for it. At that point I still didn't understand where the 'money' came from, but it was free to join, I had plenty of content to share, and I was severely disillusioned by the current Social Media options.
After a few weeks I noticed the plethora of Cryptocurrency posts, my feed was swamped with the stuff. There was articles discussing Bitcoin, and blog posts discussing the future of Hive. I started to keep an eye of the price of the HIVE token, and I began to realise that I had ended up owning Cryptocurrency.
Yesterday I reached a final point: I purchased actual Bitcoin, and transferred it to an Interest Earning Account. I am now officially investing in Bitcoin.
If you had told me 5 years ago, or last year, or even last month that I would be owning Bitcoin, I would have laughed at you.
Its amazing how quick times change, and how quickly circumstances can change. And while I see a lot of posts on here talking about the Economy failing, and Banks and Governments falling apart, and the world ending, I don't think things are going to be quite that bad. I do however think there are big changes on the horizon (which Covid is accelerating), and I think its prudent to be prepared for uncertain times.
On that note, I have started to put a portfolio together.
Forgive the awful graph, it was the best I could manage with Excel, and it is appallingly bad. It should at least illustrate how unbalanced my 'portfolio' is. Obviously that is because I started Hive 3 months ago, and all the other options I set up in the last week.
Lets look a bit closer at the 'Tokens' I have chosen to invest in.
Hive
My Hive account is growing nicely, I am earning well on many posts, and I am also delegating via the @dlease site, which helps me get at least a 14% return which is awesome. The numbers here are totalled from both of my accounts. I have chosen to buy Hive to increase my investment and also the potential rewards.
Bitcoin
I had already bought bitcoin a couple of months ago, as it was the route I took to buy Hive and power-up my account. After reading many articles on here and watching lots on youtube, I decided it was worth investing in in its own right. I was especially interested to put it to work. I don't want to just Hodl and wait (hope) for the value to rise... There are a couple of options, but in the end I went for BlockFi, purely because I can use it on a laptop. The other 2 options are mobile phone apps. I didnt want that.
The BlockFi interest averages out at 6% per year, which is a million miles better than my crappy Bank saving account...
Hive-engine
I have an assortment of tokens here, most of which have very little value at present. I may leave them there and see what happens or I may sell for more Hive, I don't know.
BAT - Basic Attention Token
Now this is an interesting one. It is rewarded when you use the Brave internet browser. I am getting a bit fed up with Google sticking its oar into everything, so I was looking to change Chrome anyway. Brave has a decent add-blocker, and runs nice and smoothly. On top of that you get rewarded in BAT, I have had it for 3 days and have earned 4.5 BAT (approx 1 US Dollar). Not bad just for clicking around the website as usual.
I'm not sure what to do with it yet though. Do I Hodl it? Should I try to invest it like the Bitcoin? Should I just sell it for more HIVE?
Leo
Last, but certainly not least, is the LEO token. I did briefly delegate to the Leo curation account, but I decided to stop and exchange it for Hive. 2 weeks after I sold it, the Wrapped Leo thing exploded, and the price shot up.
Oh well, you win some and lose some. I mentioned earlier about being prepared, and having different options available, so on that note I will start delegating to @leo.voter again.
Next Steps
I want to delegate a larger amount to Leo, so will be adding to that as I receive Hive rewards.
I will once again be joining in with the next Hive PUD on the 1st November
And finally I will purchase more Bitcoin to invest, if there is any spare cash lying around.
If anyone has suggestions on what I should do with the BAT then please let me know!
In the meantime, I will carry on researching, and I'll be back with a progress report in a few weeks
Hopefully this shouldn't need saying as I am obviously VERY new to this 'investing in crypto' stuff. This is not financial advice, and I strongly encourage you to do your own research to decide what is best for you etc etc.
If you have any thoughts or opinions on this article then I'd love to see your comments.
And if you really like the content then maybe you would like to upvote or re-hive it.
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Use the tribe tags. Once the tribes were a big thing and had some value.. then it all went to shit, and now they are recovering a little (on the tailcoats of LEO).
You could have used palnet neoxian lassecash and archon, all of which are generic tribes as well as these ones.
Some of them are for specific topics such as ccc and battle (creative content and gaming).
Also each tribe has their own mini hive.blog. Your earning LEO on this post.
https://leofinance.io/@dannewton
I haven't heard of any of those...
And I didn't even realise that Leo had their own front end, so I can earn and stake Leo as LP.
Thanks for the info!
Yep, we've got our own front end which we built from the ground up :)
When you post from it, you earn more LEO and tend to get more upvotes - since community members can see that you posted from our UI as opposed to PeakD/Hblog.
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@khaleelkazi thats really cool, I initially thought it was just a place to view your community,
The fact that each post is paid in Leo is interesting and innovative, and is just one of the reasons its worth investing in the Leo Token
(I also like the idea that I can get paid twice for relevant content 😉)
@slobberchops All are not master Like You
Haapy to see you
respect From Pakistan
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It's nice to meet you! Thanks for sharing your story! Be grateful you have friends inviting you to HIVE. Many of the people don't have friends so nice and futuristic-minded.
Have a great week ahead!
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I always enjoy your content, thanks for making Hive great. Stay Safe.
Thank you! I'm pleased to know that there are a few people who actually read my posts instead of auto-voting for the sake of it
In an ideal virtual world everyone would read and comment on posts, but there is just so much going on and the auto vote is an easy get out. Reblogs tend to get a bit more traction for posts that are not getting much attention which is why I do it a lot - but it does not suit everyone's blog ideal. Otherwise commenting on others posts does pull them to your own, I used to comment a lot but work has just totally wiped my time and energy out - but I always get more comments on my posts if I have been actively commenting on others.
I realise that, thats why its so nice to get actual interaction... someone has found my post to be interesting enough to spend some time responding to it 😁
It's not too late for both of us! Let's do this!
Yeah man, better late than never haha!
I use Blockfolio too, it's very handy and easy to use.
You should post material like this through the leo front end btw, you earn 10% more! Leo at least.
Is Blockfolio a place to store crypto? (like a hot wallet type thing)
Oh really! I don't plan to post often about crypto, but I will bear that in mind next time I do... every little helps!
Or sorry I meant blockfi - the sae as you do!
Blockfolio isn't a place to store, but to track, you can download it, input how much you've got of each crypto, not for storage though, useful tool though I do use it!
That was a typo there though apologies!
Ah ok, I did wonder ;-)
It was a useful typo, I had wondered what blockfolio was anyway, and after trying (and failing) to create a decent graph via MS Excel, I will def look into using it in preparation for the next post
It's VERY easy to use TBH, I know a lot of people who use it, it's a pretty standard tool I think.
Yep I can agree with that, its very easy to use.
Its great to see the change in bitcoin, and slightly depressing watching Hive continue to plummet.
I couldn't find the correct Leo Token to add which is a bit annoying.... the Leocoin isn't the right one, and I don't have any wLeo just the standard one.
well i got into crypto about 2 years ago and it has been a lifechanging experience. My portfolio looks similar to yours.
USDT
HIVE
BAT
LEO
these are my favourite crytos currently.
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Agree with "life changing"!
There seems to be so much more to this Crypto stuff than just earning 'money'
Is there a reason why you hold USDT? Is it just another aspect of having a varied portfolio?
That's really nice. I think you are lucky to get in at one of the best times. Most people get in at the top, in 2017 or 2018.
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sir you have huge information in crypto trading nice to meet you
LOVE from PAKISTAN
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Ah I didn't know you had only joined the blogging site recently so welcome! You've already dived in and got your feet wet with a few things I see! Good call on buying BTC and putting it to work with BlockFi, I'm starting to do the same thing with Celsius and Luno.
Not too sure what to do with BAT, I have the Brave browser but never check my wallet there. I think I moved some off and in to my Ledger at some point but that was many months ago!
I have been using dlease as well, I do like the 14% returns and that's guaranteed for the lifetime of the lease period! Wonder if such a thing will exist with LEO...
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