Grandma’s saving tip applied to Crypto
I used to really admire how my grandma would put money away and forget about it. It was really funny to watch her come out with a wad of cash, and have totally forgotten about it. During her time, saving money was what you did. I myself have adopted Grandma’s technique. I have often put away money only to be surprised later that I even had it.
So it got me to thinking about Cryptos. How this would apply. I remember reading about an investor who had bought a certain amount of coins and just forgot about them. He lived in Venezuela and he was in a really bleek situation. To his surprise, he had forgot about the investment he had made. The coin he made his investment in was what he could afford. Half a cent at the time. A very cheap coin. So fortunately for him his investment was 10 times bigger when he came across his onlne wallet. Thankfully this meant that he could get himself and his family some much-needed supplies. It also gave him hope. Which was much needed at the moment.
So in a way it reminded me very much of Grandma’s saving tip. The reason that this sticks so much into my head is that when I was little I remember many times it was due to the saving tip that got us through some very hard times. Or what would have been a hard time if it hadnt been for the money she had stashed away,
Instead of spending it she would hide it. She would find $800 stashed in a book. $1,000 in a drawer. One time she found $6,000 under the carpet in a leather Bank bag. My point is, buying some Cryptos can be the same once you learn the basics of how to buy and put it away. All you do is wait and see. If you just want a very easy approach to get you started in investing in Crypto. It’s your money in a drawer you forgot you had. Sure you could put the money away like Grandma, the big difference with crypto is, just like stocks the amount can grow.
Sure it can lose value too. But let’s say you bought a coin or token for $0.05 a piece $100 worth of a five send coin or token.
You forgot about it. Maybe a year later you remember you own 2000 coins of whatever. Now it’s $0.35 a coin or token. You now have $700 instead of just the hundred.
Not bad. Sure you waited a year but if that had been a savings you never would have made that sort of return. I have watched this Market change. I remember in 2016 when aetherium was $12 per token and everyone was happy. Currently at the time of this writing it is 290 foretoken. Prices change quickly in crypto. So putting some away to see what it may be later may not be a bad idea.