Make your cryptocurrency work for you.

By niallon11 | HIVE Blockchain | 2 Sep 2019


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A lot of people that I know have crypto holdings. They hold it because they think it will rise in value at some stage.

 

And maybe it will.

 

However, a lot of the altcoins will die away and have died away over this extended bear run. Most were over hyped and had more marketing budget than development budget. How many of the blockchains have real working products, ways to add external revenue or can improve or replace an existing service. The list starts to get very short very fast.

 

Where is their value based?

 

A lot of the people that I know bought in 2017 when crypto was running up the walls. Most of them still hold this same amount that they payed for and it's still sitting either on the exchanges or in a wallet if they have any sense.

They hold with the sole intention of the price rising in the markets. That is how they expect to make their returns and have seen up to 95% wiped of the value since the tide turned almost 2 years ago.


I also own crypto. I own small amounts spread across lots of projects and I own lots of STEEM.

Why??

It's simple. STEEM has a large active userbase. It has great developers and most importantly it has multiple working apps, projects and front ends. There are only a handful of blockchains that can say that.

I could go into the future prospects of:

 

Splinterlands:

 

Steempeak:


3speak:


Dtube:

Travelfeed:


 

But these are all just by-products of the STEEM blockchain and what is possible to build upon it's cutting edge system. I could add a hundred more if that's what this post was about. But it's not. I love the community and enjoy blogging, gaming, commenting to earn small amounts of STEEM and I'll keep doing that. I enjoy putting in the time to earn the rewards but that's just me.

This post is about all that crypto that you are sitting on and waiting for others to drive it's value up so that it makes it back up higher than the bull run of 2017. That crypto that has been sitting there useless for the past two years as it kept losing value.

There is also a solution for that on STEEM. One that only requires tieing up that STEEM for a period of time while it earns you more without any effort on your behalf.

It's simple and elegant to use your powered up STEEM to lease to more active users and get a return on investment.

 

Interested?

 

You should be. Why waste time with alt coins that have no development and sit there when you have the chance to buy into one of the best blockchains at the bottom of the market and earn a return just from holding it.

 

The numbers.


I'm just going to make an example to see how this would play out.

Lets say that you have 1 bitcoin. This bitcoin will probably gain value over the next 10 years. It could even go 10x. Maybe, but there are no guarantees in crypto. Will it go 2x in the next year? Hopefully.

Instead of sitting there for the next year looking at a price chart, why not make it work for you?

Lets take that bitcoin and buy some STEEM.

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Look!

I now have 58,712 brilliant STEEM tokens instead of that useless Bitcoin sitting in my wallet. I lock it into my STEEM wallet turning it into STEEM Power and making it usable on the STEEM blockchain. ( Takes 13 consecutive weeks to fully power down once locked in.)

Using that new SP I go to Dlease.io and look at the delegation market. There are others but this is the cleanest and simplest to use.

 

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You could take that 58,712 STEEM and accept some of the market offers. With this amount of SP you would be earning roughly 33 STEEM per day or 12,057 for the year. ( These are all rough estimates based on average APR and not to be taken as fact. )

This also doesn't take into account the compounding nature of your investment and adding that 12,057 back into the delegation market to increase your return over the year. Year 2 you would get back 14,519 ect...

Within 4 years you have doubled your initial amount of STEEM invested and that is not taking price action into account.

If the price of STEEM rises to an appropriate level to reflect it's value then in four years you could be seeing a lot better returns than looking at your bitcoin sitting in that wallet.

 

So how can a person do this??

 

If this has interested you then the first step would be to create a STEEM account. Unlike the other blockchains you can use a normal username rather than a chain of numbers for your wallet.

 

STEEM Ninja provide a handy service to sign up instantly for just $2.50 with an initial 90 day Steem Power delegation to run your account with.

You would then need to power up any STEEM sent to your wallet and lock it into the chain. All of your STEEM and other STEEM based tokens can be accessed through the secure STEEM Keychain extension or accessed on Steemitwallet.

 

"The Steem Keychain extension currently includes the following features:


- Store an unlimited number of Steem account keys, encrypted with AES
- Easily view balances, transaction history, voting mana, and resource credits for all of your accounts
- Send STEEM and SBD transfers right from the extension
- Securely interact with Steem-based websites that have integrated with Steem Keychain
- Manage transaction confirmation preferences by account and by website
- Manage automatic lock settings to lock when the browser is closed, the device is locked, or after the browser is idle for a specified period of time."

Ref:

 

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With your new found STEEM power and access to the STEEM blockchain there are actually hundreds of things that you could do with it but for passive investment I would send you to Dlease to select which delegations you would like to fill from your STEEM Power.

Once you have these delegations filled out you will get a daily payout into your STEEM wallet and a memo when the lease runs out or if it gets extended. Then it just needs to be cancelled and you can lease again.

 

Why not make your crypto work on your behalf?

Why not invest into a constantly developing blockchain?

Why not actually use your crypto instead of just looking at it?

 

Everything in this post is from my personal experience and not to be taken as fact. It is intended to give you an idea of the possibilities provided on the STEEM blockchain rather than investment advise. Any questions, feel free to ask in the comments.

 

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niallon11
niallon11

Blogger and promoter of the HIVE blockchain. Follow me at https://peakd.com/@niallon11 or on twitter at https://twitter.com/niallon11


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