A little 'investigation' ...

in LeoFinance2 months ago

My goal …

On my way to achieve the goal I set myself, I am also delving into coins other then Hive, I try to use my brains myself instead of just doing what is easiest. And since bitcoin does not seem like a very logical investment to me at the moment, I am also exploring other avenues.

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Investing in BTC doesn't make sense at this moment for me

Why BTC doesn't make a lot of sense to me at the moment has to do with a number of reasons. To start with, I can only invest very minimally. And BTC may now have a very bullish course, and I also expect BTC to continue this bullish course, but it will not yield me enough to achieve my goal. BTC has no interest in holding BTC, and if for some reason I suddenly have to withdraw my BTC, it will be worth a bit more than it is now, but it will certainly not double. And certainly not 1000 euros. Simply because I cannot invest enough to start.

So then it is wiser to look for a coin that DOES give interest for just holding that coin, and take a closer look at the coins that do each and then to make a choice.

Tezos

The first coin that I have taken a closer look at myself is the TEZOS. Why Tezos? Well, I am not a crypto expert par excellence. But I happened to read a post via @spinvest written by @underground in which he says that he is currently achieving very good results with Tezos. Partly because Tezos has experienced a nice price increase, but also because of the interest in holding Tezos.

Proof of Stake

It can therefore already be concluded that Tezos works with Proof of Stake (POS). That is of course always interesting to take a closer look. What also struck me at Tezos is that the transaction costs are very low. On average around 0.2 tokens for both deposits and withdrawals. Also an interesting fact to think about if you can't step in big of course.

Based on a Bitcoin hard fork

Tezos is based on a Bitcoin hard fork and has also incorporated elements of Zcash. Tezos has recently integrated the increasingly popular and highly regarded zk-SNARKS protocol. This was made possible by using the Babylon protocol in the original Tezos platform. Using zk-SNARKS provides excellent anonymity for Tezos, which means that all transactions will be more or less untraceable. zk-SNARKS was originally introduced by Zcash and the benefit it brought has motivated XTZ to implement the protocol as well. Tezos has implemented a change system whereby Tezos nodes have been able to update their consensus protocol to introduce the new protocols. This was done by replacing the files and implementing any associated APIs. As anonymity is increasingly becoming a concern in the cryptocurrency environment, XTZ certainly seems to have the right ethos.

It became a prominent crypto currency in relatively short time

In addition, in a relatively short time, launched in late 2018, Tezos has become a very prominent crypto currency. This has to do with the sheer amount of money Tezos has raised through its first coin offering. This is reflected in Tezos' trading performance in 2019, with the crypto currency tripling in value during this 12-month period. While the aforementioned issues related to the ICO are certainly to be taken seriously, Tezos has started to shake them off and move in a positive direction. The legal disputes that have faced Tezos are now getting into the background and this is clearly positive for the future of the crypto currency. Apart from the huge amount of money XTZ initially raised, it also delivers a lot of advanced technology, which is superior to other crypto platforms. The general expectation is therefore that if Tezos can build on this in the near future, the price of the crypto token will continue to rise.

I found this information in my 'research' on Tezos ... and I must say. So far I like it. What are your thoughts on this.

Love to hear YOUR suggestions

I am very curious, and of course I would love to hear other suggestions! What I know for sure is that I will not rush into anything at this point, but I will go through everything thoroughly and eventually make an informed decision, which I hope will bring me a lot closer to my ultimate goal.

Earn 1000 euros in a year with crypto, the first month of which is already over ...

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Have you looked at Celsius.network for earning interest? They do not have any minimums and will offer a few more options. I am using Celsius as savings. I convert my HBD to Dash and leave it there to earn interest.

Posted Using LeoFinance

Thank you for your reply ... No hadn't looked into that yet. But I will note it down and look it up. What percentage do they use? And can you tell me a little about the other options?

Interest varies by coin. They base interest from market demand. It changes week to week, although not significantly. Stablecoins, for example, might be around 8%. Bitcoin is at 4.5%. Dash at about 5.5%.

By other options, I meant other coins besides Tezos. These other coins do not natively generate interest. However, Celsius pays interest if you hold them. Personally, I have some Dash, XRP, and BAT deposited in Celsius.

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"I try to use my brains myself ..."

Sounds good @hetty-rowan! 😉

While not providing financial advice, I have not only heard good things about Tezos, but also own some. I think you have made a good choice to help you toward reaching your goal!

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Thank you ... now that sounds good too 😉

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