Don't let your crypto sit idle

7d
LeoFinance
3 Min Read
591 words

Crypto investments come with bigger risks. One of the most popular risks is keeping your crypto investments idle. This is one of the biggest lessons I learned recently. Some of my investments are very bad right now. For example, Ripple is looking very bad in my portfolio. I bought it a few years back during my early crypto days. I did not sell it and I was holding it for the long term. It is going to be almost like 4 years now and still, there is no sign of improvement or it has not even reached my bought price.

This is not just for Ripple but for a few more cryptocurrencies as well. The price of some of the tokens was very good during the bull run and I should have booked my profit on them. I then thought I was having only a little and I should let it stay as it is. But now after the bear market, my portfolio is very bad and my holdings have gone down in value. Now I'm starting to think that I should have at least converted some of my coins as stable coins and should have held them instead.

image.png

Source

Investments that give returns

Instead of keeping our cryptocurrencies idle, the best thing would be to invest in something that would give some decent returns in spite of the inflation or the market trend. For example, some of the cryptocurrencies are really bad right now but there is good hope for them because they had given me almost double the quantity because of the staking rewards and other things. Maybe this is one good investment. I'm starting to have a feeling that I should be investing in cryptocurrencies that gives returns instead of just buying a coin and keeping it idle in my wallet to look for profits one fine day.

Maybe HBD and Hive are best on that. I at least know very well how this ecosystem works and I can focus on earning more from the dApps and other ecosystem applications associated with the Hive blockchain. But other cryptocurrencies might be good but I'm not familiar with options to earn from them. What I see is that they are just sitting idle on my portfolio and are not giving any great returns as such for just staying idle. Some have staking ability on a chain or on exchanges. I have staked some on exchanges because the transaction charges are very high on the chain. The returns I earn from staking might go on transaction charges themselves. Exchange staking is a little better.

We all hope the market recovers soon so that we can start making plans and start booking our profits. I really want to diversify my holdings a little bit during this bear market but I have to be very careful while trying to diversify my holdings. If I make any wrong decisions, I might end up losing a lot of money. I really don't know when my portfolio would recover back. Let's hope for the best.


If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness

Vote @kanibot as a Hive Engine Witness



Posted Using LeoFinance Beta


This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.

Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.

Read our latest announcement post to get more information.

image.png

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

0

https://twitter.com/180355589/status/1595478210875052032
The rewards earned on this comment will go directly to the people sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

0

I like Hive because we get some amount of returns from holding it and it has a use case. I have been looking at HBD and had been wishing I had bought more of it doing the bull run. Maybe I could have powered down some Hive to get some HBD and keep in savings to be providing me returns... This has been really crossing my mind.

0

I'm starting to realize I should have just focused on a handful of solid tokens that can earn me a passive income. Hive and HBD specifically for sure. If I had focused on picking those up I would be in a much different place this bear market.

Posted Using LeoFinance Beta

0

Hbd and Hive are the best crypto that has been helping me sustain this bear market too. At least staking and saving both are generating little income for me which is okay than letting any crypto sit idle without doing anything.

We should hope for the best as we await the bull run.

0

very good discussion about crypto. I really like this article you wrote.

0

Yay! 🤗
Your content has been boosted with Ecency Points, by @bala41288.
Use Ecency daily to boost your growth on platform!

Support Ecency
Vote for new Proposal
Delegate HP and earn more

0

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

0