Convert to stakes
My advice is, if you don't know what a token is used for, convert I first to stakes. This was my activity throughout yesterday evening when I was going through my Hive engine list. I saw some rewards that I know little to nothing about. They've been staying there for a while and it is just more of cents when converted. Why leave them there, I asked myself? Sitting there as liquid doesn't do you any good, even if I were to get extra 1 ot it daily for staking in 365 days we are talking of an extra 365 of that token.
One thing I like about hive is that it opens up opportunity for novices to learn investing. Besides just doing it for rewards, you get to learn the ethics of patience and consistency. Long term investment is just like trading, you get to do away with emotions and just leave the market to do its normal roundings. The fear is always high depending how much is at stake. This is why overtime, we ha e had few successful traders and investors.
Things are about to change if not already happening. What am I saying here? How many of us can risk $1000 in an investment?, how about $100 or $10 dollars. Many will fall into the second and third and while if may seem not profitable, there are underlying advantage. This is where I keep giving a thumbs up to Hive and web3 in general. The future of investment relies on experience. How one can test markets and projects with few tokens and overtime gain mastery and take advantage of compounding market effects.
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The next five years to a decade will produce young investors like never before courtesy to web3. The web3 investment space will soon be flooded with experience driven novices who will be daring dangerous markets. This is what I am currently working on. How to understand more of web3 and its underlying opportunities, how to start with little stakes and see how the stakes go. I side with that wise saying here; 'invest, if you win you will gain, if you lose you will learn'. A good one especially when it is what you can afford to lose.
There are numerous advantages surrounding the world of web3, technology is opening up the economy beyond our early reach. I could remember my early years in investing, there were numerous flaws in between. I lacked proper guidance, something you can easily get right NOW on hive. If you don't know how an investment works round here, just post a thread or an article covering that you are sure to get help. Secondly, I never had enough to buy ALL this accredited high stock, not to even talk of where exactly to buy them.
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I did miss many opportunities back then with also wrong investment choices. All that money got flushed out, a discouraging one it was. I am happy I am settling in gradually, thanks to hive, InLeo and web3 in entirety.
Back to my stakes, there are so many projects I still know little about. Nevertheless, when I get tipped or rewarded I will do well to continue staking them. I just staked some #PIMP, #CTP, PoB and PEPE. Not much of it anyway but it is something. Investment is all about diversification; cast your bread upon many waters. For sure there are projects that will become hot cakes in the near decade or less. The best time to get a good position is NOW. Early adopters of hive and LEO tokens can testify of this.
To conclude, let me add, it is Stakes! Stakes!! Stakes!!! All the way. Nothing to spare at the moment. A bad market is an opportunity for those who understand compounding effects. Let's keep supporting what we love in this platform as we gradually grow our stakes for a financial independence future experience.
Posted Using INLEO