Top Five Reasons Why STEEM Now Constitutes About 70% of My Crypto Portfolio
Yes, you read that correctly. This writer is not drunk. Steem presently constitutes about 70% of my crypto portfolio.
I know that you're familiar with the almighty crypto formula out there, the one that stipulates that about 70% of one's crypto portfolio should be in Bitcoin while altcoins can then claim the remaining spot.
Well, while I do not have anything against the formula, I have decided to play the game my own way. That is, by having 70% of my crypto portfolio in STEEM while Bitcoin and the rest share the back seat.
There is no guarantee that I will hold this position forever but that is what it is (at the moment) and what it will be until I have strong reasons to act otherwise.
So, without waisting anymore time, here are top five reasons why STEEM now constitutes about 70% of my crypto portfolio:
1. STEEM Is About 98% Down From Its All Time High
Trading presently below 13 cents, STEEM is about 98% down from its all-time high of $7.3. Contrarily, Bitcoin is just about 62% down from its peak of $20k which was seen in the wake of 2018.
So, even if Bitcoin spikes to $100k in the coming months, which is actually not unlikely, that will only be a X13 profit for Bitcoin maximalists.
But Steem only needs to trade at $1.13 (considering the present market price ) to make X10 profit and $13 to make X100 gain.
And, if you ask me, STEEM is more likely to hit $1.13 before Bitcoin hits $100,000.
2. It's Easier to Mine STEEM
Another reason why I decided to lean more towards STEEM is because it is far easier to mine (earn if you like) STEEM than it is to mine Bitcoin.
With some amount of STEEM bought in the exchanges and then powered up, one is already on the road to mining STEEM, STEEM that comes from curation rewards.
Compare that to mining Bitcoin, and you will get yourself an headache that will warrant you seeing your doctor.
3. You Can't Do Anything With Bitcoin
Bitcoin is like a smoked fish, you can't bend it without breaking it. You can't do anything with Bitcoin, except that you hold it for speculative reasons.
However, you can do many things with STEEM. You can delegate STEEM to empower others. You can reward others with Steem by upvoting them. You can even spice your pizza with STEEM. And lots more.
This makes STEEM far more interesting than Bitcoin and many of the other altcoins out there. Little wonder, cases of pump and dump are not common with STEEM.
4. STEEM is an Excellent Tool for Content Creators
Long before I heard about STEEM, I've been publishing my works on Facebook for free. A couple of friends have told me on a few occasions that they sometimes came to Facebook just to read my latest article.
As interesting as that sounds, I got nothing for my writing except some worthless likes and emojis. But STEEM has changed that story forever.
On STEEM I get rewarded for creating valuable contents and curating others. I have written a few short stories and poems that fetched payouts that could supply some of my basic needs for a few weeks.
You see why I have to convert most part of my portfolio to STEEM, the currency that empowers content creators like me?
5. Steemit Remains the Most Successful Blockchain-based Social Network
Despite the pockets of criticisms here and there, Steemit remains the most successful blockchain - based social network.
With millions of dollars already paid out in rewards through STEEM, Steemit has established itself as the convergent point for cryptocurrency enthusiasts across the globe.
As the user base of Steemit begins to expand, when we have surmounted the onboarding barrier, it will become impossible to discuss anything relating to cryptos and the blockchain without referring to Steemit. That is even happening already.
Now tell me why STEEM, the currency of Steemit and the blockchain powering Steemit should be ignored?
Until I come your way again, I wish you a full Steem ahead.
Posted via Steemleo | A Decentralized Community for Investors
