Playing the trading game on smartBCH
Disclaimer: Nothing in this article should be interpreted as financial advice. I am only explaining how I do something. I'm not telling you to do anything. I'm also not implying that you should do anything that is shown or explained here. I'm also not saying that it is a good or a bad idea to do anything that you see here. You decide for yourself what you want and what you don't want to do with your own money, crypto and life.
Disclaimer about disclaimer: Above disclaimer text is stolen from @MoreGainStrategies and applies to this article also.
I'm not trader at all. I found smartBCH to be great playground for beginners like me because of its insane low fees and very rich ecosystem.
Few weeks ago I started to use Noise more and more. As most of you already know Noise is a great platform to meet new people and earn a few bucks in a Bitcoin Cash form on a side. I'm daily on Noise, commenting, reading and posting about games, make money online opportinuties and scams, some motivational image quotes I'm creating using Canva and recently about NFTs and blockchain in general.
Visit my profile on Noise.
Every now and then some post about smartBCH pops and I got very interested about it. I'm learning every day about this awesome Bitcoin Cash side chain and since its ecosystem is very young we are growing together which gives me great feelings about it.
So I asked myself what can I do with my Noise earnings. I can hodl or I can invest.
My starting point is always marketcap.cash Right now there are over 50 smartBCH tokens on the list. Here you can see latest live price changes, charts and informations about all tokens. It's good to know that these are not all tokens that exist on smartBCH, there are others too which you can access via DEX swap pages.
Decentralize Exchanges DEX are online applications you can use for trading, staking and swapping tokens. There are several of them in existance: MistSwap, BenSwap, Tropical Finance, TangoSwap, 1BCH. You can see them on Dexscreener, another tool I'm using daily. Dexscreener allows you to track what others are trading and how much.
I invest only what I earn on Noise. So you can guess these are not large amounts.
My current smartBCH portfolio includes Mist, Celery and Daiquiri. I'm farming Mist/flexUSD on MistSwap. I also have staked Celery and Daiquiri on Tropical Finance.
PORTFOLIO
Daiquiri 60%
MIST 30%
Celery 10%
Daiquiri is new and big risk but I was lured with high staking APR.
I also had 1BCH token when DEX started but luckily sold them when the price was at the peak and earned small amount out of it. If I hadn't do that I would be in big minus right now since the price of 1BCH plummeted very fast. Tropical looks stronger and I'm betting it will grow further, but I could also be wrong here.
Interesting tokens I'm planning to invest in are Law, BCHPad, Game, AxieBCH and SmartIndex. Again, these are all small amounts under $20 so I can afford to lose it all. I have profit of about 5% since I started so for now it's all good.
I hope you find this article useful. I'll try to make it a weekly habit. It's a chance for me to post more here on Read.
Thank you for reading.