RE: Crypto currency investing or mining?
Welcome to the world of cryptocurrency.
Background: I started mining Bitcoin in November 2015. That expanded into mining Ethereum and Expanse and Zcash. That gave me a foundation of coin holdings
I am an investor with no source of income other than what I generate from investing, trading and any network marketing I can align.
My crypto strategy is in 3 parts and makes up less than 10% of my overall investing portfolio - because it has a risky return profile.
- Mining - one third - keeps going along independently of markets
- Earning - one third - I use network marketing channels to do this spread across a few - e.g., of the mining businesses I use.
- Investing/trading - one third.
The heart of the strategy is spreading risk away from a single point of failure. I lost 2/3 of my wealth in the dot com crash from a single point of failure.
On mining I use 4 different cloud mining operations - not enough time to start on hardware.
On investing I try not to outguess the market - I do what it tells me to do - read my Behind TIB posts (number 5, 6, 7 and 9). Some is working and some is not. On trading, i have traded a lot and now am working hard on robots.
I write up my stuff every day - read it and ask questions.
Fantastic response. I will read your posts.
I am looking forward to this new foray into crypto mining. Planning to start small and build it up. Up to this point I have been focused on moving money out of fiat to Crypto. I have not yet attempted to second guess the market and invest in those companies that seem to have substance. I have read and listened to many views and opinions and still absorbing so much more. I look at the charts but there is way to much volatility, very similar to Penny stocks. For now I'll keep my active trading to stocks and buy to hodl crypto.