Good Day out there in the Land of Steem, and thank you guys for stopping in and checking out D Wing’s World. Where information and adventure await! First off, congratulations because you have found the very first piece of content that I have made exclusively for Steemit. I wanted to offer how I see Crypto currencies as a whole and the feelings that I have had while learning and trying to get active with them in one form or another.
Firstly, I think it is important to be frank and upfront about how I view crypto currencies as an overall investment. I weigh all the investments that I do, whether they are silver, real estate, or crypto’s by weighing their risk to the amount of reward they can bring me. Then I factor in what time frame those rewards will be able to be received. I see Crypto-currencies as a very volatile (most will agree) investment with the ability to bring in moderate returns at a fairly quick pace, however because of how volatile they are, I do not want to place a very large initial investment into the market. As I gain further knowledge and understand the market better this may change. Interestingly, I do seem to have a differing view of cryptos in that I see them much like fiat currencies. This is mainly because the value of cryptos relies mainly on the faith “we” as consumers place in them, and they could rapidly lose all value if the right type of event like a hack or corruption took place in my opinion. I understand that many individuals do not agree with my analysis, but this is the most honest view, and I feel it is my duty to pass it onto you. I do think that this analysis is held by more people than standard posting reflects. I will also update you if my perception changes in the future and why it has changed.
My strategy in dealing with cryptos is one that balances minimum risk and effort, while allowing me to learn more about the market and how they can be utilized. The effort I am putting forth is in the form of content that I will be bringing to Steemit for steemians and Youtube content that I am also sharing on this platform. This allows me the time to build up my base and to cultivate more information on how the market performs and how to use that to my advantage. Additionally, I will be protected from any real severe losses or extreme fluctuations in the market. Now, I am going to take the steem that I earn and convert approximately ¾ of that into a physical asset such as gold or silver. This method is how I will build my intrinsic value wealth, while still being part of the crypto community and learning about a very diverse market. The other ¼ that I earn I will reinvest into my small initial investment allowing my Crypto assets to grow passively without me risking too much. I will continue to do this strategy until I either feel comfortable in the market, or I receive new information that alters my course. If either of these events would occur I will notify you and explain why and how I have changed my behaviors.
As someone that is brand new on the scene; what am I doing to start out? The first step I took was employing both Youtube and Steemit to learn a good bit of information on setting up an account on Coinbase, Blocktrade, and downloading an Exodus Wallet. All three of these items I have seen used and reviewed very positively on both sharing platforms. Additionally, I took the time to look at the inner workings of how funds are transferred and received as it does differ from what most individuals are used to. After I had those three accounts in place I began placing content from my Youtube account onto Steemit and notifying those that follow my channel of my presence on Steemit. I do have to say that a large part of my decision to try my had with crypto’s come from Silver Slayer( @silverslayer ), Regal Stacker ( @britcoin), and Shadow Stack ( @shadowstack ). Please go and check them out and get all the great information you can from them! These channels helped me figure out some of the inner workings, and gave me the confidence to push ahead. The next step I am focusing on is growing my content and the amounts that I will make off them. I cannot lie as this has been a very strange and hard to understand road I have traveled to get to where I am, but I hope that as time goes and I have more of my friends with me it will become second nature. I encourage you to let me know any details I am missing or may want to know. Like I said this is just how I am approaching everything and in no way am I a financial advisor or affilitated with any of the sites I use. Please look at everything prior to you investing and make sure what you are doing works for you and your goals.
In short, thank you guys for stopping and taking a look at how I think. I look forward to sharing this journey with you and getting all of the points of view from everyone. Thanks again! D Wing out!