Hello, and welcome to another post. In today's article, I will be introducing you to one of the wackiest ideas get on this blog. I call it: The Big BAT challenge!
Fun fact: I didn't come up with this idea myself. I got it from one of my readers on my post yesterday. His name is Mazz.Check him out here.
The challenge is simple. I'll put $20 worth of BAT into a wallet separate from every wallet I have. I won't touch this wallet at all for the period of a few years, and I'd update you with posts on what the wallet is currently worth every month.
This challenge is simply to guage how "great" BAT is as an investment of some sorts. I feel that BAT is going to be very valuable in the future, because of many reasons which I have shared in numerous posts. However, I just can't shake the feeling that I won't have enough BAT when the time comes.
I will add a few caveats and rules to the challenge though:
- I'd only buy when I feel it's safe: I'm a technical trader, and I can't shake the inherent feeling of buying into resistance. It seems like voluntarily sending myself to hell. There's just no way out of horrible losses unless you're extremely patient. So that's rule one. I'd only buy if BAT is close to a local support or has flipped a local resistance. However, I MUST add to the BAT collection every month.
- I'm not allowed to look at the dollar value till after a month: Knowing myself, I made this rule of thumb. I know I'd love to withdraw this BAT or trade it or do something else other than just hold it for a few years. So I'm not allowed to look at the dollar value until I do the monthly update.
- I'll be using a hot wallet: Since I don't want the BAT in any of my cold wallets so I'm not tempted to spend it, I will be using a hot wallet for this. I recommend Trust wallet for anyone looking for a hot wallet. No ref links. Just a great wallet.
Another thing I wanted to add to this post: I'm also doing this experiment to see if investing in crypto or putting your trust in the "team" is good enough. My tutors taught me that my only aim should be to collect more Bitcoin's, but with so many great projects around, I'm not sure I can just sit around and collect Bitcoin only.
If you'd like to help out in the challenge, consider sending some BAT to this address: (0x327d14aF6e3e0c34C78613c9fFb9D5F668853494) or giving a "heftier" tip.
Please tell me what you think about this challenge. I feel it's insane, but I'm willing to try it out anyway!
Thanks for reading!