A month ago Bitcoin was doing quite well at just over $10,000 USD. Ever since we've seen a continued struggle to retain that value and have been looking for some direction in a wishy-washy market. Today, Bitcoin is hanging on strong but is still not exactly inspiring FOMO at $9,200 USD.
While I am not a financial advisor, I have wanted to give you something relatively new, at least in attitude during this time to digest. Whenever the market goes stale, I have to remind myself of something: You are either growing, or you are dying, profiting, or wasting time.
For this reason, I do not recommend people hold the bulk of their tokens in Bitcoin anymore, but rather fuel Bitcoin when it is low and move the money to a stakable token during spikes where your tokens will typically follow a 1-4% correlation to Bitcoin with typically little variance beyond that while earning you more and more money.
You could put $1,000 into Bitcoin, HODL for a year, and lose or gain $500, either way, easily - and the randomness doesn't end there. However, with some PoS tokens, that is not the likely outcome. I consider them a safer bet.
For a volatile market, it's been behaving just as well, if not better than stocks or other assets except gold, arguably. I'm assuming most Publish0x readers cannot afford gold, and I don't own much of it either. Silver is a better starting point for precious metals, and it has medicinal value.
My ventures for PoS are in Tezos (XTZ) and more recently and more impressively - Atomic Wallet Coin (AWC).
Tezos is well known and is debatably the most staked token out there; However, AWC's fast gains and 20%+ ROI annually, compounded weekly and paid monthly is beginning to shadow this currency for me. I highly recommend you take advantage of the AWC airdrop and let that money make some babies as mine has already almost quadrupled in value.
The only thing that bothered me about AWC staking was the pain of purchasing Binance Coin (BNB) that is required for some transactions, such as the exchanges that give you AWC credit and ultimately qualify you to stake. It's worth the short setup time and low buy-in - I'd seldom used my Binance.us account for anything else and the buy-in was cheap and still paying for transactions.
Outside Tezos and Atomic Wallet Coin, my token favorites remain Basic Attention Token (BAT), which is probably going to be around longer than I am, and Nano, which is shadowed by altcoins with a better following despite being the better token for most applications. I believe altcoins like this are the future after Bitcoin, though that date remains a big question mark.
So, looking over the last 30 days, we're down about $800 USD or roughly 5-7% depending on your buy-in amount during that time:
While Bitcoin remains a buyers market at $9,200 USD - and that is a very good thing, it's stale. The only people making money off of this are flipping more copious amounts by buying during choke drop points and selling during choke sell points, primarily. It's easy to read in real-time, and a lot of people are forced into watching the markets all day by doing this except those who rely on limit buys and sales.
I would instead put my money to work while I enjoy what is left of my summer. AWC seems to be the most promising venture at the moment, and Tezos is down a staggering 15.35% in the last 30 days, which is reducing the amounts of my staking rewards to the point where I am about to move everything into AWC. I am waiting for the first monthly payout, and if I am happy with how that goes, that is exactly what I plan to do. It should be this coming week.
It's important to note you would never logically cash out your Tezos (XTZ) or any staked token during a low point. So, that 15.35% is in its own way irrelevant in the long term. I would also argue that AWC is largely responsible for this dip as many people see the advantage of getting into a new token bound to become very popular with higher staking rewards as a very smart investment decision, explaining the 9% variable from Bitcoin in the last month. Another valid point is that buying a staking token with massive popularity like Tezos when it is down 15%+ could be seen as a smart investment if you are willing to hold for a while.
AWC did far, far better in the last month in light of their airdrop and for this reason, it remains the best prospect in my sights. In fact, I'm quite excited about it, it's the most promising thing to land in my lap in months.
The other token I am most excited about in the near-future is Ethereum 2.0 - though those that know my writing know I am not a fan of gas costs, I feel that Ethereum is a vital part of the cryptocurrency community and its evolution, while not related to my current prospects, is of importance to the future of cryptocurrencies in general.
The other thought I'd like to shine a light on is that price is relative. At any time, the market could sheer-cliff-drop or sky-rocket. Volatility 101. When you are investing, it rarely hurts to squirrel crypto away in a buyers market; if it were more of a split market I wouldn't advise an investment. However, at 72% Buy and 28% sell, that's a reasonable investment for a real HODL'er as there are always fluctuations, and there is always risk involved.
The old montage goes "buy low, sell high," I say, "invest low, move the money high, live off the APR just to get by."
So, I guess the question of the last 30 days is - are you still flipping crypto, or are you still a HODL'er?
It appears I do both, and staking is becoming more prevalent in my daily life. There is the trio.
Either way, I hope you're staying home and staying safe.
Let me know in the comments!
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