Bye bye Steem... Hello CUB
After the Hard Fork that originated the Hive blockchain I decided to convert only half of my steem into HIVE just to play it safe. Basically keeping a ratio of 3 Hive for every 1 Steem (75%/25%). After a while I realised that steem was dead but the price at the time was SO LOW that I did't want to sell it. That was around the time I found out about dlease, so in a stroke of genius I delegated all my steem at insanely high APY's 20%+ while I wait for Justin to pump it high enough for me to make my exit point.
Even tough I still have some delegations running I'm not renewing them, whenever one ends I power down and withdraw the it to Binance -> Convert to BNB -> Send to Metamask and buy myself those CUBS!
At the moment I've been putting them all into the CUB den because I was still very new to the Defi space and the word IMPERMANENT LOSSES scared the bejesus out of me. After spending a couple hours on youtube getting educated on the ins and outs of DEFI I'm past my fears of farms.
With this new knowledge starting next Thursday when my next Steem power down hits I will start investing in the farms. I'm not an expert by any means but there's nothing like getting involved to deepen my understanding of this new world.
My short run objectives are to buy and hold at least 100 CUB until the end of the next quarter: 50 on the DEN and another 50 paired with BUSD. After that I haven't really thought about my next move, maybe take some profits. I've been pouring my money into crypto for over 4 years now and I should pay myself at some point.
Feel free to comment your opinion about my plan, I'm brand new to the DEFI space and all feedback is welcomed! Share your CUB goals too, love to read other people's objectives and goals.
Posted Using LeoFinance Beta
i went into the DEN first too and then, once I got used to that, I went into the DEC/BUSD farm. I'm still learning about how to manage it well. The first time I compounded in the DEN I ended up paying more in fees than I compounded so I've left it for about 10 days now.
Today I was learning about the "farm" button and the "+" and tomorrow I will give it a go.
As you say there's "nothing like getting involved to deepen understanding".
Good luck with your plan! 😊
Posted Using LeoFinance Beta
I did exactly the same mistake the first time I compounded 😂
Thank you, and good luck to you too! Hopefully we'll both make some money with it
I just lease my steem out and let those suckers pay me and then use my lease money to go and speculate it’s a good bit of fun
Not sure that will last forever. I really don't understand how they're paying over 30% apy on leases... That's why I'm selling most of my steem, I might keep a little bit just for fun.