11-07-2022, 08:56 AM
The second best way to invest in cryptocurrency
<!-- SC_OFF --><div class="md"><p>I see sometimes posts here of people "being broke" asking for investment advice for cryptocurrency investments. In that situation this is probably not yet for you. </p> <p>First obvious way of safe investing in cryptocurrency, is not investing at all. The second way, I describe here. </p> <p>First save for an emergency fund. Best practice is to save 6 months of expenses. This is an absolute necessity in my opinion before investing in anything. </p> <p>Then with the amount above your emergency fund, start investing in stable coins like DAI or USDC with staking for 6-8%. Let that run for a while. The returns are excellent when compared to most regular bank savings returns. </p> <p>After that you could use your "profit" to start investing in Bitcoin, Ethereum and the like. Slowly and steadily DCA into these "proven" cryptocurrencies, and stake them when possible.</p> <p>After you have more returns you could start thinking about altcoins and staking them too. All the while you keep staking stable coins too.</p> <p>I wish I grasped this before starting into cryptocurrency investments. So maybe it helps one of you here.</p> <p>Slow and steady returns are extremely valuable.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/n1ghsthade"> /u/n1ghsthade </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ynkmkx/the_second_best_way_to_invest_in_cryptocurrency/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ynkmkx/the_second_best_way_to_invest_in_cryptocurrency/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>I see sometimes posts here of people "being broke" asking for investment advice for cryptocurrency investments. In that situation this is probably not yet for you. </p> <p>First obvious way of safe investing in cryptocurrency, is not investing at all. The second way, I describe here. </p> <p>First save for an emergency fund. Best practice is to save 6 months of expenses. This is an absolute necessity in my opinion before investing in anything. </p> <p>Then with the amount above your emergency fund, start investing in stable coins like DAI or USDC with staking for 6-8%. Let that run for a while. The returns are excellent when compared to most regular bank savings returns. </p> <p>After that you could use your "profit" to start investing in Bitcoin, Ethereum and the like. Slowly and steadily DCA into these "proven" cryptocurrencies, and stake them when possible.</p> <p>After you have more returns you could start thinking about altcoins and staking them too. All the while you keep staking stable coins too.</p> <p>I wish I grasped this before starting into cryptocurrency investments. So maybe it helps one of you here.</p> <p>Slow and steady returns are extremely valuable.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/n1ghsthade"> /u/n1ghsthade </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ynkmkx/the_second_best_way_to_invest_in_cryptocurrency/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ynkmkx/the_second_best_way_to_invest_in_cryptocurrency/">[comments]</a></span>