Thinking "DCA" for CTP Cryptocurrencies: An Entrepreneur's Diary

I've always looked for the best of strategies to make a sustainable investment on Hive and Hive tokens. This became imperative after looking back to see how much my Hive second layer portfolio is worth in less than two years. Yet, I see my attainment as just the beginning with the very many new H-E projects launching as well as airdrops which adds to the many free tokens that still increases my digital assets on Hive.

LeoFinance would always have a central place in my financial discourse on Hive and in crypto (1) because of its essence as a crypto blogging community and (2) as the first Hive token that made me a millionaire (don't ask with which currency). The huge amount of LEO I accumulated when LEO is worth less than 5 cents played out to become a multi dollar value after a few months. With many developments coming to LeoFinance, $5 looks quite feasible in few months and this would also provide more investment options for other projects that leverage LEO or that models after LeoFinance.

My special interest for SPORTS and recently CTP has birthed a drive to quickly fill up my bags as I see these two tokens make a quick upward move in the next few weeks. I might not have the lump sum to push in all at once, however, I want to build a decent strategy of redirecting my curation and authorship earnings to these tokens till my stakes hit my dream thresh-hold. 200 million SPORTS and 200k CTP would not be too small to hold in stake. Each passing day brings us closer to the future of these tokens and I don't to take the risk of regretting why I didn't hold some good fortunes. Seeing RUNE at $6 when I started hearing people talk about it when it was only $0.3 is really sad.

While researching for standard investment strategies, I discovered that Dollar Cost Averaging could be the way to quickly reaching the goal I've set for these crypto. Below is the definition of Dollar Cost Averaging according to Investopedia:

Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase. ... Dollar-cost averaging is also known as the constant dollar plan source


The constant dollar plan would allow me to send a constant dollar equivalent of the token to stake on a regular interval. I have began a MondayHivePowerUp campaign which will allow me to power up certian tokens every Monday. I choose Monday being the first working day of the week to help me set into motion with power.

Before now, my investment strategy was more concerned with the amount of tokens that goes into stake each time. Since the cryptos are volatile and prices fluctuate over time, pegging a dollar equivalent would be more appropriate way to hit the target of $1 million worth of investment in no time.

Looking ata token like CTP, we had a bullish market run in the last 5 weeks which was suddenly follwed by a dummp when Hive began to bull. The present price pf the token makes it easier to own more of it with just $10. It's best time for me to fill my bags in anticipation of the future as I can have 3 times of what was selling in the last few weeks.

I am considering a $10 daily CTP and SPORTS staking challenge for the next 10, 20, 30 days depending on how it turns out. Depending on how easy it gets, I'll add more tokens that are in my core portfolio till a desired thresh-hold is reached. I'll be making daily reports in my investment account @uyobong.venture and I hope to see how I can have a tool that makes it easier to compute the compounding profits. Just imagine a sample SCA chart below.


This approach would help me rid myself of excesses in favor of focusing on the cryptos that are important and will help sponsor my financial and business vision to where I'll find happiness, fulfillment, and freedom. With each passing month, I hope to adjust the amount so invested as it fits my earning capacity.

This account would be making a weekly review to show how much the strategy helps me hit my Hive goals for each month. Thanks to all the investment gurus and entrepreneurs on Hive whose journey has been an inspiration to me.

Who'll join me?

Comments 3

@tipu curate

08.03.2021 05:13

You might look outside of Hive as well, great opportunities in the wild of crypto.

08.03.2021 12:04