The Most Boring Form Of Crypto Investing
If you have followed me over the years, you'll know one of my favorite things to do on planet earth is...
I'm like on....Book Worm Level 10!
When I used to live in the city, you would find me at the local bookstore weekly going up and down the aisles...Coffee in hand...Trying to find another book to add to my collection.
However, over the past 6-8 months my priorities have been twisted to say the least and I really haven't been reading as much as I usually do...
Until last week!
I picked up this gem just before I moved my family across the country in the summer of 2020...And it sat on my bookshelf since. However last week I really caught the urge to jump back into reading and dove head first into 'Blockchain For Everyone' by Sir John Hargrave.
This isn't really meant to be a book review...More of a huge nugget I found in the book and wanted to share it with you :)
(BTW the book is awesome, I enjoyed it a lot lol)
Anyways, in the book the author speaks about how to get into blockchains and crypto currency without breaking the bank!
What was so cool about the way he highlighted this point is he broke 'crypto investors' into 2 groups...
The Crypto Bros
The guys and gals that LOVE trading. The day traders. The 'When Lambo' crowd.
The Blockchain Pros
The 'in it for the long term' guys and gals. The people that weren't interested in the quick riches...But the generational wealth that crypto potential will bring.
I admit it....I would like to think I fall into the 'Blockchain Pro' category...Not because I'm the smartest guy in the room (some would argue the complete opposite)...But because my strategy for investing into crypto has been this...
- Dollar coast average
- Buy and HODL
Nothing sexy...Nothing exciting. Just super boring habits that one day, I hope pay off big time....
And as soon as I got to this part of the book, I smiled from ear to ear:
He called it 'steady drip investing' or as it's commonly known as...
Dollar cost averaging!
Not sexy at all.
Literally, the most boring form of investing known to mankind.
And I love it :)
Hey look, some people do really good with numbers, charts and that's their thing...They have such an awesome gift and at times I'm very envious of it. They geek out to the numbers and can do technical analysis for the next decade without stopping.
But then there's...The rest of us!
Dollar cost averaging is attractive to us because...We find a project or projects we believe in...And have a long term strategy which usually means increasing one's holdings of the crypto.
The old saying goes...Time in the market, beats the timing of the market. And we subscribe to that!
We're not sure when something is going to moon....Or when something is going to tank. We jut love the project and want to be a part of it....
That's why since early 2018, I got rid of all the noise and focused....Here!
The Hive blockchain and it's amazing eco-system!
I believe in this project, this community and everything being built here...So no matter what, each and every day...I just accumulate. I buy each and every week, and whether Hive is $1 or 11 cents...I just keep the drip steady!
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