I found dust in my crypto wallet
You log onto Binance account, all coins are 10% in the red and your portfolio is yet again down another 30%.
You tell yourself it’s gonna be alright. But in reality, it’s not.
Instead of sighing on your coins, here are my favorite strategies on making your coins work for you.
Staking
Staking is a strategy used to earn rewards for locking up your tokens. Instead of letting your coins sit there and collect dust, staking allows you to earn interest!
Besides that, you’ll also be contributing to the efficiency and security on the blockchain. The only downside is most tokens have a vesting or lockup period, this is the reduce selling pressure when prices fall. But I personally look at this as a way to negate myself from panic selling.
On Binance, lockup periods may vary from 30–120 days depending on the amount of interest one is seeking.
Yield Farming
Yield farming is the practice of lending or staking your coins in order to gaining rewards through interest or transaction fees.
But what’s the difference between yield farming and staking, they sound awfully similar.
Yield farming involves supplying liquidity for DeFi protocols while staking allows stakers to validate nodes for blockchains.
But ser it seems risky, I want something more stable.
If you aren’t a degen who munches on volatility for breakfast, the innovations of DeFi has allowed us to generate tasty yields on our stablecoins!
Stablecoin Farming
Stablecoin staking is the best way to generate yields without being shaken by the volatility of the markets!
It’s essentially a strategy to help increase your buying power over time so you can take advantage of the dips OR increase your investments over time.
Checkout my article on my favourite stablecoin farming strategies, earn up to 20% APR!
But how do I search for these different strategies and compare yields?
I personally use CoinDix.
It’s the best website that gathers pieces of the DeFi ecosystem in one place and under one simple and intuitive interface.
DCA (Dollar Cost Averaging)
DCA is the most overlooked strategy in all of investing.
It’s the strategy that divides your total investment into different portions instead of buying it all in a lump sum. This ultimately lowers your average cost and increases your overall return.
But monies ser.
Instead of spending your time on twitter and discord trying to look for the next gem that will 100x, you’re better off looking for an extra stream of income.
Checkout the thread below as he goes in-depth on how you can increase your purchasing power:
These are some of my investment strategies I’ve learnt over the course of being in crypto, the ultimate goal is to stack more tokens over the long run.
*Change your mindset*
Instead of looking at your PnL (Profit and loss), learn to look at the amount of tokens you’ve accumulated instead. The combination of accumulation on top of rewards being reinvested, screams success!
WAGMI
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