Is Powering up your Steem wallet the best way to set up a Passive income for life ?

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When the crypto winter bites

It hurts like hell because your portfolio and your income is going down. This is the bitter truth of the crypto market in the middle of the bear season.

People say invest when the prices are down

This is a good investment strategy for sure because buying low and selling high is a good trading strategy that we all want to follow.
However for a lot of people buying in a down trending market is a painful exercise.
This is mainly due to the fact that people let emotions get into the way of investing.

Step back and look at your investment strategy

Look at it as a long term investment and have a buying plan
First do not make sporadic impulsive purchases instead make small incremental purchases.
This way even if the market is getting into the mood of a drifting downwards then you end up buying more of the crypto of your choice with the same amount of fund allocation.
For example if you chose Steem as crypto to invest in and made purchases when the price of 1 Steem was $0.26 and do incremental purchases when Steem price is down to $0.16 then for the same amount of money you are getting more steem tokens which is good.

Adopt DCA

DCA or Dollar Cost averaging is a good long term strategy where you set aside and use a fixed amount of money to buy your chosen crypto or asset that you want to invest in.
The amount you want to invest can be anything. it can be $10 or $1000 or any other amount that you choose.
This is you keep getting more and more steem with your money.

Do not just HODL power up instead

If you hodl 1 BTC it remains only one 1 BTC however if you allocate a part of your crypto allocation to a stakeable coin like steem you can use it to power up your steemit account.
Then you can follow a curation trail or delegate your steem power to a good curation account. In return you would get periodic return based on your delegation.
This you can reinvest or use it to power up to further grow your account.

Disclaimer : This is no financial advice. The purpose of this post is for education purpose only. Do your own research DYOR before making an investment.