Polkadot has proven itself as a serious contender crypto, moving up to just behind Ethereum to be the 3rd largest crypto (ignoring Tether and Ripple which IMO aren't real cryptos). It's had two huge moves up since December and is now in a sideways flat top consolidation. There's a good chance for a flat top breakout and another move up soon. Even though it's now the 3rd largest crypto it's still quite small at $15B market cap compared to Ethereum at $156B and Bitcoin at $636B. There's a lot of upside potential. It's certainly worth me putting a small position into the crypto to see where it goes.
I bought Polkadot on Kraken which is an exchange that provides staking*. So while I'm waiting for the breakout, I simply selected my position to be "staked" and immediately I'm getting a 12% annual return (paid out in Polkadot twice a week). Try to find that sort of return at your bank or broker. Ethereum can also be staked but it's a functionality in development and has some restrictions. If you were unaware of staking, you should look beyond Bitcoin into some of the newer things happening in crypto today.
I'm not an investment advisor and this is not investment advice. It's just a description of what I'm doing and my thoughts.
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*Staking is using your crypto to help secure the Polkadot blockchain and validate transactions on the network. In return you get paid in Polkadot. It is related to bitcoin mining on bitcoin, but rather than requiring a lot of specialized mining computers and expertise, anyone can participate.
I bought Polkadot on Kraken which is an exchange that provides staking*. So while I'm waiting for the breakout, I simply selected my position to be "staked" and immediately I'm getting a 12% annual return (paid out in Polkadot twice a week). Try to find that sort of return at your bank or broker. Ethereum can also be staked but it's a functionality in development and has some restrictions. If you were unaware of staking, you should look beyond Bitcoin into some of the newer things happening in crypto today.
I'm not an investment advisor and this is not investment advice. It's just a description of what I'm doing and my thoughts.
----
*Staking is using your crypto to help secure the Polkadot blockchain and validate transactions on the network. In return you get paid in Polkadot. It is related to bitcoin mining on bitcoin, but rather than requiring a lot of specialized mining computers and expertise, anyone can participate.
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Breakout to the upside. Boom.
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This continues to move up after it's breakout. I'm in no hurry to sell this even if it spikes up big. This looks like a longer term hold... I'm happy just collecting the 12% staking returns.
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Loving this crypto. It's remaining very strong, now just below previous all time highs. And the 12% staking returns are the best of anything I'm staking.
Bitcoin and Ethereum are my large core positions, DOT here is also a core position now, though I hold a lot less of it. Cardano/ADA looks like a small core position too.
Bitcoin and Ethereum are my large core positions, DOT here is also a core position now, though I hold a lot less of it. Cardano/ADA looks like a small core position too.
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Polkadot looks great for a breakout soon. It's teasing right below all time highs right now. It's also not on coinbase and when it eventually gets announced it will get a big pop just from that alone. Cardano recently arrived on coinbase and I expect polkadot will be announced in the next few months as well. As I've said before the staking returns on DOT are amazing and I don't see myself selling this coin anytime soon. It feels like a long term hold and stake coin.
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Looks like DOT could break to new all time highs today. I'm still holding this, still staking for 12% returns, and still expecting to hold this one longer term.
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I'm still in DOT, staking and making a return. There was a significant dip to get in cheap back in July. I didn't add (beyond staking returns), but I held. Hoping this catches some momentum again soon.