My journey into crypto-like many of users was a pretty wild rollercoaster ride; I made money, I lost money, I made money again, and I am sure I will lose money again.
That is just the nature of the game when you’re about spending time in the market instead of timing the market. These gains are not real until you cash them out, and while you can double your money in a week if you never realise the return, it’s not something you should kick yourself about.
I see so many crypto holders sulking that they never got out at a certain price, and to me, it seems silly; the reason I didn’t get out at a certain price is because I didn’t feel it was enough money to have e part with my Bitcoin
Stacking sats with the help of both worlds
I’ve either spent money I earned working to turn it from fiat into Bitcoin, or I’ve earned crypto through my time and labour, and both tend to crystalise the idea that working for these tokens means I shouldn’t give them up as easy as others would.
I am not saying I am nobler than those that dump at the first price dump or sell their tokens at any price as they “think” they need it and would rather miss out on future gains in exchange for something they can have now. No, to each their own, do with your money as you please, but for me, I cannot see how all this effort I’ve put into building a position will allow me to part with my crypto on the cheap.
The more people who feel this way, the stronger the hands and the distribution of strong HODL’rs who keep the liquid supply of Bitcoin to a minimum.
Dollar-cost averaging
I’ve spoken before about how IÂ dollar-cost average into Bitcoin each month;Â however, since then, I’ve become even more aggressive and started to daily cost average along with my monthly purchase; this gives me exposure to various price ranges and buying in.
I do it automatically and think very little of it with the help of the Luno app, but there are other apps to help you dollar cost average, so do you really have an excuse these days?
Dollar-cost halving
I’ve taken people through how IÂ put my crypto to work. This could be CE-FI, DE-FI, Blogging, doing microtasks, asking to be paid for tasks in crypto, as well as staking coins.
I try to either earn additional satoshis with my efforts or get into dapps that allow me to earn on my capital, such as liquidity pools or backing loans, or staking my capital in an altcoin.
Every time I earn an additional satoshi, it helps cut the price I paid in fiat in half for satoshis I purchased. This decreases my risk and is an additional hedge against volatility.
When you start to get into the mode of dollar-cost halving, it allows you to sleep better at night, holding larger positions in Bitcoin or altcoins.
