We are all feeling the pain of this crypto bear market that is upon us since the beginning of 2017, however I have been down this road many times with stocks ( dotcom and 2008-2009 crash ), precious metals, and real estate. Markets booms and busts, it’s a cycle. When the ashes clear after a bust, the strong ones comes back stronger. Instead waiting for the next crypto boom cycle to kick in, I am doing the following, by the way this is far from an investment advice, please do your own due diligence.
1) Building my position with Crypto Projects I believe in
We all know the majority of crypto projects will fail so it is important to spread out the risks. For instance, I hold a lot of EOS, but I also hold some NEO, ADA, and Worbli. I have come up list of projects that I like and set targets of accumulation. Here’s part of my list. This is something I did not do in 2017, I am basically positioning my crypto portfolio for the next bull run.
Coin Project Number of Coins/Units Status
EOS 10,000 Completed
NEO 1,000 Completed
ADA 100,000 Completed
WORBLI 50,000 In Progress
BTC 10 In Progress
Cash 100,000 In Progress
2) Build Up Passive Income via Staking, Masternode, and Mining.
I have a handful of coins that allows staking and such as NEO, KARMA, EDNA, LPC, GIC. Coins like LPC and GIC allows you to setup masternodes which brings in staking, masternode, and mining more passive income. For mining, I go with BOID, allows you to CPU mine. The staking, masternode, and mining rewards allows me to accumulate more or convert to BTC and Cash.
3) Acquire Hard Assets
Some of the passive income I get from staking, masternode, and mining, I am converting to precious metals. To me precious metals is an insurance for uncertainty. Before I got into crypto, I was silver and gold bug but these days it is more of a hobby. Soon I will share my silver collection on Trybe.
4) Look For Opportunities Outside Crypto
Look for businesses for sale or start your own. In my case my wife and I recently acquired an existing small business that allows us to be absentee owners for most the time.
Yes it is a tough market but there so many ways to beat it, time will tell whether this strategy will work. Good Luck and Thanks for stopping by.