Privacy coins: The next big thing? I am buying XMR and ZEC regardless.
We often hear people say "never put all your eggs in the same basket" or phrases similar to that one. And they are 100% right. As for me? I strictly adhere to that "rule".
Let's see a few examples why diversification is so important.
Steem for instance was the gateway to crypto for the vast majority of people who blog/vlog around here, myself included. Dazzled by the potentially high curation and author rewards if they kept buying and staking new tokens from the open market, they completely focused on how they'll grow their Steem and later on their Hive accounts (which is perfectly normal) without looking left or right for investing opportunities that popped up rather frequently.
The end result is that both Steem and Hive are heavily injured -price wise-. Therefore if one decided to invest $1000 to buy crypto and their crypto stash is consisted of 95% HIVE, say 3% BTC and 2% ETH then most likely they are bleeding pretty heavily.
Balance needs to be maintained...
That being said, my HIVE holdings is approximately 15% of my entire crypto investment. Another 25% is BTC and the remaining 60% is split between privacy coins (not equally) ETH and some of the DEFI. I also hold some shitcoins that don't even worth a mention.
There was a time that my only concern was how to earn more Hive, to stake even the last token there was available in my wallet, to buy as much as I possibly could from the exchanges. Not anymore. Does that mean I am not bullish on Hive? Quite the opposite. I still believe Hive is an underdog and it could go 20x at any given moment, it's just that I think holding around 100K HIVE tokens is enough at a 20x scenario.
Diversification ya said? So what are you holding mate?
It's no secret that I am a huge fan of privacy coins.
As a matter of fact I think that if one holds BTC, for obvious reasons, Eth as there's this DEFI craze (smart contracts), HIVE for being censorship resistant, fee-less and fast like hell, and private coins, especially XMR and ZEC, they have quite a diversified and complete portfolio, plus the possibility of earning big in the future is high. You think I am exaggerating? Nah...and frankly I don't care either. It's just the way I see things.
As for the rest of those 5000+ coins listed on CoinMarketcap / Coingecko...I don't even understand why we need 'em in the first place.
Speaking of privacy coins...
...which are my favorite. When governments and law enforcement are trying to "break" XMR's code there's no doubt that privacy coins are the next big thing. They are doing something right, and they are a pain in the ass for every government on Earth due to their untraceable transactions. Remember, they wanna know everything...who owns what, who send to whom...everything.
That alone was enough to fascinate me. Therefore I started buying XMR and recently ZEC too, long before US government announced that they are hiring devs or set a bounty(?) for those who'll break XMR's code. Nah, I ain't using the dark web nor I am a criminal who doesn't want to leave a record after each transaction. Not even a millionaire....I wish I was. I just believe that having Mordor's eye watching everything isn't the right way to go...
And privacy coins offer just what we want. What I want. Don't get me wrong, transparency, public records, all that is great but having options is even better.
There's a big difference between my 2 favorite privacy coins XMR and ZEC. XMR's transactions are 100% anonymous by default. This is the way XMR was designed, there's no option or a switch to turn it on/off and nobody will ever know who's on the receiving end. On the other hand one does have that option with ZEC. They can either send a normal/public transaction or use the shielded transaction option. As I said earlier having options is always a good thing but in this case it is a double edged knife. What if one really wants to hide something and sends a normal transaction by accident?
Long story short, and exactly because I think that my XMR bag is kinda full just like with HIVE, I thought that filling my ZEC bag is what I should do next. _Also hold some DASH but I'll explain why I am not a DASH fanatic in another post.
So I was watching ZEC's chart yesterday and realized that it's close to its ATL, Satoshi wise.
And that was a perfect buying opportunity for me. So I armed my hand and grabbed another 19 of these beauties.
I think that as time goes by more and more people will show interest in privacy coins hence their price can only go up. Who wants that big eye after them after all.
Sure, there's a risk...rumor has it that governments are trying to regulate them. Or even ban them which could result being kicked off from major DEXs...
But if not? Then I believe that they have a bright future and that these prices are a bargain...
Not a financial advice...blah...blah...blah...
Are you holding any?
Have a good one people.
Cheers!
Posted Using LeoFinance Beta
