Maybe I'll get some flak for this but fuck it.
How many posts do there need to be about cloud miners being scams, BitConnect being a Ponzi scheme or how you could make more money by "hodling"?
If you follow any of the cryptocurrency or bitcoin tags on the internet, but Steemit especially, it seems to be one of the most popular topics you'll see. I suppose this is because it generates clicks - and here I am milking those clicks as well.
Anyway, what I actually want to talk about is how all investing is a gamble and people seem to think it should be safe - like putting money into a bank account.
Guess what? If crypto was safe we wouldn't be making the gains we're making - the charts would be a lot slower and much more boring. Remember a few weeks ago when everything was down and then it took "forever" for the coins to climb back up? CD's and Bonds will never, EVER do that and that's why they're considered safe mid-to-long term investments. This is something that could be easily done with crypto as well but for the average day trader, adrenaline junkie - I don't see that happening.
What I assume people will take issue with is my support of programs like Genesis Mining and BitConnect - I am completely aware of the fact that organizations like those might be sketchy - I would never tell anyone that they're safe of something to invest in - unless they were interested in learning more about them. In which case I can only explain my own experiences and people can make up their own minds.
What I said above about crypto not being a bank is as simple as it sounds, you can't just put the bare minimum into a Genesis contract and expect it to continue to perform at the rate it did when you bought the contract because difficulty always changes. You need to continue to upgrade and keep up with it or you will be one of those people on a message board somewhere complaining that Genesis stole your money.
Regarding BitConnect - I was suspect at first, and if you look back through my posts you'll see me saying it smells like a scam and some parts of it still do, but I am playing with cryptocurrency not fiat, so I'm a little more likely to take risks. I decided that I had to see if it was bullshit or not and the only way to do that is to buy a ticket and take the ride.
Both of these options will provide the individual with much greater APR than just about anything a bank can offer you AND do it at a lower rate of investment than it requires to open banking or investment accounts.