Should I stake or should I Grow?

As a complete newbie to crypto I’ve been installing a ton of different Apps the last couple of months to see how everything works and if I like it. I’m still installing more every day, Every time I read a new post, article or watch a YouTube video.

So as a newb, It’s a little overwhelming to find the best fit that would get me the best results in growing, securing my tiny little portfolio.

My goals, as with pretty much everyone else would be to grow my portfolio as much as possible ( I don’t think anyone is trying to get rid of their coins! Just in case, If you are someone that’s trying to get rid of some of your coins, I’d gladly help out! 😁)

With my goal in mind, I have heard and come across different Apps, technologies and methods the last couple of months that I’m left being a bit confused.

Trading vs Staking

I got back into the crypto space a couple months back and started with buying little bits of crypto at a time when I had some spare cash. My exchange of choice was the Crypto.com App because they offer $25 free CRO tokens

So naturally I jumped on that and got some Crypto again!

The first couple of weeks I bought more every couple of days, usually just €20-€50 worth.

I recently checked my history and I saw that I bought NANO when it was worth $1.55 in January 6th. Currently NANO is at $9.20 as I type this.

So you would think. Damn, that’s a great move you made there MrGrumpy! Yes, it was an amazing move or investment.. IF I kept them!

Sadly I traded NANO a whole bunch of times during those weeks and ended up with something else. At one point I had 53 NANO. Today it would be worth around $500

Am I the right type of person to trade Crypto?

Yes and No.. I believe that in trading Crypto, there should be a mix of research, knowledge and a bunch of luck sometimes.

I come from a family that absolutely loves gambling! My grandmother would ignore our phone calls during the day and then blame it on not hearing the phone ring. But if we had to go to her local casino, We would see her there. Or if she did answer, You could hear the noise of the slot machines in the background!

As a kid growing up, we would spend our weekends at the Wild Coast Casino resort in South Africa. Myself and my brothers would spend countless hours in the kids game room, swim or just run around the golf course while my mom and step dad would be gambling.

They were really good at gambling and my main memories are of me waking up in the hotel room and my step Dad would have bank bags filled with cash that he would dump onto the bed! So I literally have rolled in cash before as a kid!

A bit more of my history

When I turned 18, I could finally join my parents for a bit of gambling ( Although, I looked older than most kids and did a little gambling from around 16 😁 )

I actually enjoy the rush of waiting for the slot reels to drop into place and wait for the sounds and lights to tell me I won.

My favorite has always been Blackjack and Texas Hold’em Poker as I like having a tiny bit more control over my money.

Skipping a couple years I ended up starting work as a Web Designer for a online Casino group with 9 Casino brands and 3 Poker rooms. I then ended up working for the software company that started it all.

I have been into gambling my whole life!

So the main question is, Should I really be trading crypto with my gambling history and personality?!

That brings me back to my main question. Should I be staking my coins?

If I’m being 100% with myself and you. I do believe that I should be staking at least a large percentage of my coins into something where I don’t have quick access to it. At the same time, I don’t have much at the moment to stake ( $49 staked ) So it does not seem like such a great idea, considering I can trade or gamble with it and get 5,10,20% gains in a day if I jump on the right coins.

But being a new and first time Dad of a beautiful and also grumpy little boy and an amazing wife, I really want to push to build a better future for them!

That being said. I have slowly started mixing the two. I am currently trading with $200 using the Pionex Grid trading bots and as soon as I get around the $220-$230 range I would stop the bot, then withdraw the profits into my Crypto wallet into other coins ( I started buying into BCH as much as possible)

I then take a percentage of all the gains and then push it into Staking on the Crypto DeFi wallet. What I love and hate about that option is that my money is locked in for at least 28 Days!

Currently I have $49.80 staked. Will it make me any serious short term gains? Hell no!

The current APY is at 17%, So that is roughly 0.046% per day on $49.80 staked. That will obviously bounce up and down depending on what the CRO token is doing over time.

But I do believe it’s a step in the right direction and I am going to continue to stake more every week if profits come in.

As I write this article, My Pionex bot is absolutely drowning in DOGE poop! So my gains yesterday and today is non existent.

What should I do as a newb that loves gambling, but also want’s to be responsible?

So if you are reading this and have some great advice for a complete newb to crypto. Then I would love to hear from you in the comments!

My main goal is obviously to grow my portfolio as much as possible for the future.

Thanks for reading!