Over the last month or more we have seen BitCoin break out massively break all records. Unfortunately I missed this boat because after holding when it wasn't moving at all during September or October I sold when it had just started moving. There was a bit of FUD thanks to the early September crash and I wanted to cash out sooner rather than lose later and by doing so I gained but not as much as I could have done.
This is part of the price of trading crypto - sometimes you hold and it gets worse and sometimes you sell and the price increases.
Meanwhile I have been consistently and persistently collecting my Cointiply coins and what is more they are staking at 5% (not sure if you can call it that for such coins - but you know what i mean!).
In an earlier post I suggested that it might well be better to hodl and stake on Cointiply than to move funds over to Celsius where the staking rate for BitCoin is 4.67%.
So now I have a nice supply of Cointiply Coins which are earning very nicely for me. However we must remember two very important things:
- Cointiply Coins are not Crypto Currency
- Cointiply Coins are worth a fixed USD amount (10,000 Coins = $1)
It is inevitable that a massive correction is coming and it is going to hit BItCoin the hardest. Now I have no idea when (but it could be any time) and how far BitCoin will fall but it is really stupid to convert Cointiply Coins to their BitCoin equivalent when the price is so high. The key is to waiting for the correction to hit and buy the dip or as close to the dip as you can.
When this happens I am going to change my Coins and drop them straight into Celsius to maximise the potential*
*I plan to retain at least 35,000 Coins so I can continue to take advantage of the staking Cointiply offer.
Why should I consider Cointiply?
To some extent I am repeating what I have written previously, although I am rewording to keep it fresh. Cointiply offer free Coins by offering rewards for completing task and giving other rewards. I have discussed before that many of these activities are very time consuming and you should always consider time considerations and value when doing anything. So now a few months in I tend to ignore surveys and games that pay in a lot of coins but require you to reach level 5,643,981 (I am exaggerating but only slightly). I also ignore anything that involves any kind of payment - that is called a Ponzi!
So what do I do.
- Roll the faucet wheel twice a day
- Click on PTC adverts**
- Watch the daily videos
- From time to time if there is a low requirement for relatively low yield download I will download install open once and then remove (look at how many coins it is worth to see if it is really worth the time investment or if it demands more. Somewhere between 250-1000 Coins is a good indicator).
** I would not trust the content of most of these adverts. Some promise $13,000 dollars in 24 hours by riding the bitcoin wave. Please be very careful. Some are ok. For example an occasional Publish0x advert appears that I am assuming comes from some enterprising individual using it as a means to advertise his personal referral code.
So while I recommend Cointiply don't spend half of your life doing it and never, never, never put money into it. It may pay off but what is the point when it is a faucet for giving away free crypto? Incidentally Coins can also be converted to DogeCoin, but personally I can't see the point of that. Stick with BitCoin but buy the dip with your fixed dollar amount.
So why not join Cointiply? Give it a go.
