Hi all.
Ive been tossing around the idea of putting up this post for a while now. Its the sort of thing that I wish someone had posted back when I started, or began to delve into crypto.
My background on why you should, or shouldn't listen to me (obligatory NFA statement here). Im a regular working guy, I have a family I support, I wanted to learn trading first forex, then some stocks and slipped into crypto...I bought my 1st crypto (BTC) in 2018 right after BTC broke under 10k, I bought in at around 4k... I was impatient/scared of the "dip" and sold for a loss somewhere along the line shortly afterwards... I later bought in on the hype early 2021. I kept averaging in as ETH broke above 2k, 3k, 4k... I kick my ass here bc it was fully-unhinged-pandemonium in here and I should have bailed (i was greedy)... I got wiped TF out, heavy following SNL hype. I was overextended and put in more than I could afford... I sold for a loss, licked my wounds and liquidated my account. Except for some BTC/ETH that I sent to blockfi that was a PITA and i didnt want to move it...
Ok, so whats different now? and what am I doing differently? Ive changed my focus from chasing price/watching charts. Simply put im staking and LPing. Why? because it has pulled my emotions out of the game now... When it was just me watching charts i could pull $ at any time and any progress was just unrealized gains until I did (I never took profits, I was greedy like that). Now Im working an APR approach where the asset price means less...
Now my approach is Cosmos centered. Im going to reference those projects bc thats what I know and am working...
My top 3 bags are
ATOM
JUNO
EVMOS
Runners up (that Im building): SCRT, AKT.
Pooling (on Osmosis) ATOM/OSMO, JUNO/OSMO, EVMOS'OSMO. All of these w superfluid staking.
On these projects, w current staking APRs Im pulling about $4-$5 per day out of the market. Its not life changing, but its net + income of about $120/month. These funds are reinvested to compound my positions.
So for the past weeks Ive been letting my staking rewards build up... I took it all and converted it to USDC. Ive been doing this every day w/ Staking/Pooling rewards. As we dipped I have "free" money to scoop up some ATOM. Since were all a little red today Im letting my rewards just chill unclaimed, once price recovers ill trade the rewards to USDC and leave that sit for the next wave of red days...
Im also doing my bi-weekly deposit of $50-$75 (whatever I can afford) into ATOM on the CEX which I promptly trade for USDC and let it sit idle for dips like today... So now my average is down, my token count is up and Im making money every day...
Im open to any dialogue. if youre new especially, Id be happy to let ya pick my brain... Ive definitely been stupid money. Ive made rookie mistakes. and i have had my head on backwards while being convinced that its on straight... But this system seems to be working for me, for now.
TL;DR : Staking on cosmos = daily money = peace of mind on turbulent days.
Edit: And dont panic sell!
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