A New Approach To Crypto Investing

It has been almost a year since I invested in assets outside the Hive ecosystem. Last Spring it was another story while I was trading quite a few different tokens and things got pretty hectic to say at least.

If I take a look back at the time I can see myself being somewhat neurotic while constantly looking at market prices and chasing some signals on crypto news feeds. The beeping sound of app notifications reminded me of what was going up and what was down. It was getting hard to stay focused on other things - trading was sneakily becoming a big part of my life.

Then stuff happened. Luna happened and I began to sell other holdings too, some with profit some with loss.

New Strategy

At the moment I'm thinking about jumping back in but this time with a different approach.

The main thing for me right now, what I've really begun to treasure, is how I spend and value my time. I really don't want to fall back to being on 24h alert with that junkie-like feeling. My plan is plain and simple dollar cost averaging(DCA), done with small monthly deposits.

I just moved 50€ to an exchange(even though my bank put it on halt first), bought Bitcoin with it, closed the page and returned to my other daily activities - feeling completely stress-free. Next month I intend to repeat the process with the difference of perhaps buying some other assets. Besides BTC the ones on my radar are:

• Ethereum
• LINK
• Litecoin

So, at the beginning of March, I'll review my BTC investment and decide in which coin I will be investing next. Even though I'm planning on spending a chart-free February, we really can't escape the news of surges and dips - that's why I might take a little peek or two to find out which one could be in the good buy zone.

I'm also pretty confident in having enough self-control not to make any hasty decisions and will stay true to my plan.

I remember some exchanges having these vaults where you can lock your holdings for a certain period of time. The best thing would be if I could define the locked period to be exactly 1 month. I would then make the monthly DCA deposit and possibly take the possible profits from the unlocked asset.

As I am sort of free writing this blog post and remembering how I was accumulating and trading assets, I already feel the old habits and thoughts creeping in a little bit. There are so many temptations and I've only been talking about the basic spot trading - it's surprisingly easy and sneaky how we can get carried away in the vast crypto space.

Goals, goals, goals

To prevent that from happening(again) I've learned the importance of setting goals for myself. I have done so with HIVE, LEO, and with my blockchain games assets too.

With BTC & other coins, I will be setting some long-term goals as well. I'm not thinking about the monthly price too much but instead trying to think what it could be at the end of the year, or after 3 years. This way of thinking will help me to ignore those small dips and fake pumps that would have made the old me react too hastily.

As I mentioned, I'm free writing and this is more like a stream of consciousness. Or just me trying to convince myself? I have definitely not reinvented the wheel - it's more like doing the same as I've been doing with my Hive holdings. Thinking further ahead and going from getting a quick fix to seeing the bigger picture.