Over a year ago, I got involved with Steem based on the "advice" of some younger members of my family who were familiar with cryptocurrencies.
I am not a stranger to investing or investments. I have invested in the stock market and real estate in the past and did pretty well until 9/11 when the stock market crashed . . . for a while. I received some bad "advice" from my certified financial planner but I still managed to save about half of my investment.
Once I retired, I listened, watched and read all about the future of crypto. Specifically, I watched Bitcoin, Litecoin, Ethereum, and Steem. I bought into Steem when it was selling at $1.74 a token and sold some investments that I had made into Litecoin and Ethereum. I couldn't afford Bitcoin at the time. I "drank the koolaid" and started building my investment in Steem. I kept buying and posting even as Steem was sinking to new lows. I kept thinking about the SMT's that were on their way. (haha) I even invested in Actifit because I thought that it would be the first successful SMT to be developed.
When Pal came out, and I received an airdrop, I decided to "invest" in it as well. I bought some additional Pal using some of my STEEM earnings, but I didn't try to become a "whale" by any measure. I liked the idea of being able to post using Esteem, or Actifit and still earn STEEM, Pal and Actifit tokens.
Fast forward to the present day, and I discovered that I had been gifted some Leo tokens based on the amount of Pal that I had staked. Well, that was unexpected and welcomed. I thought that my luck might be starting to change as it relates to my crypto investments.
I was able to invest in some Bitcoin, Ethereum and Litecoin back in November because I sold a real estate investment. I also added to my STEEM investment. My Bitcoin, Eth and Litecoin is presently earning me the most profit.
That's some history to let you know where I am as it relates to my current "investments" in cryptocurrency. This crypto market is very volatile and a lot of your success depends on your holdings, your discretionary income and your aversion to risk.
I may share my stories in general about how I may be benefiting (or not) from my investments in cryptocurrencies, but I am not comfortable telling anyone else how they should spend their grocery money, mortgage or household income on any of these investments. And because I was given bad advice from someone who was credentialed, I know from experience that you have to do your own analysis and make your own educated decisions about your risk and potential gains. There are plenty of scam stories in the crypto universe for reference.
Steemleo will be an interesting community to follow for a while. Who is giving advice? Do they have any significant holdings to show for their successes or are we supposed to just take their word for it?
Is their advice backed up by data, scientific or otherwise, or just their humble opinions? Most smart people will preface their unsolicited advice with some generic statement like, "This is not to be considered financial advice."
Things that make you go hmmmm. This investment community may just be a place where information is shared in one place without having to hunt for it all over the Internet. Inquiring minds want to know. We'll see.