My strategy for CUDOS to survive this crypto winter ??
Crypto winter is just getting started according to data from past crypto runs which shows usually crypto winter lasts for two years. Crypto is really harsh for alt coins as most of them dumps really bad we never know about any project the only thing which makes projects survive is fundamentals & I strongly believe in CUDOS, that’s why in this article I am sharing my CUDOS strategy which I have started to follow for this Crypto winter.
Increasing the number of tokens without buying it is one of my strategies & with Cudos it’s possible in a great way as Cudos offers nearly 20% APR on CUDOS. That’s why I always stake CUDOS after buying as I am buying it for my long term goal.
Periodic buying is my one if favourite strategy in bear cycle for every project where I am buying for long term & Cudos is top of them, so I always buy CUDOS every month on a specific date according to my salary days, this step helps me to bring down the average price of my investment.
Strategy to buy dips
I certainly don’t believe in going all in any circumstance, because you will never know where the bottom of the bear market is that’s why I stick to my long term goals and for that I always put small amount of money in dips not all.
DCA is one if best advice I would like to give everyone, if you believe in any project don’t go all in always try to DCA( Dollar cost Average) that way in times like Crypto winter you can accumulate more token in same amount of money possible only if you don’t go all in at the very first level, look for dips follow periodic buying and you can end up with much more than you expected initially. This can change your profit drastically in a bull market.
Not storing on exchanges
I prefer Centralised exchanges for buying in bear market as they have more liquidity but I certainly not store my token on exchange for more than 1 week, because storing your token on exchange is not going to give you any benefit when you can stake it in your private wallet and there is one famous quote in crypto “Not your keys not your Crypto”. Like you can stake your CUDOS in your wallet so why would you store it in any exchange, storing on exchange might cause you to sell it in panic as well. So I certainly avoid storing my CUDOS in Exchanges.
This is not an advice which you have to follow in every condition, but I usually avoid selling because market is down as long as fundamentals of project is strong and project is active I continue to hold my tokens like I am holding CUDOS because I believe in Cudos and it’s fundamentals as team is continue to deliver.
Cudos is powering the metaverse bringing together DeFi, NFTs and gaming experiences to realise the vision of a decentralised Web3, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.