How do you invest in TRX?
How do you invest in TRX?
Hi,
Do you buy for a fixed dollar amount each month? So you just stake what you have and vote? Just looking to see if there are some interesting approaches people are taking to buying crypto.
There are levels. First of all, you should move your Tron to your own private wallet. Tronlink wallet is my favorite. Once there, you will freeze and stake your Trx. 10%/90% Bandwidth/Energy.
Once you get to the point where you have 300k energy (Around $1250 in today’s prices), then you can start doing at least 1-2 free smart contract calls a day.
Now that you can start doing smart contracts for free, it’s time for Defi. Right now, Uswap.me has the best returns on trading pairs so take your stack, put 50%/50% in a high yield pool that’s not a goofy coin you don’t know about and let it sit. Take the profits when they get distributed, cut them 50/50 again and add to the pool.
Make sure you check the energy/trx cost for each action and Tronlink will tell you how much that will cost. If you’re not careful, you’ll burn through a ton of energy and Trx to pay for the cost of activating the smart contract.
I invest between 50-150$ a month in TRX. And after that… I look to what I swap. Sometimes I buy ApeNft, WBtt, Just, JustMoney… And stake it on Justlend
What you’re referring to is Dollar Cost Averaging, which is a very sensible way to invest. I do the same with stocks, every week I auto invest in an ETF on a couple brokerages.
I was doing it with ETH on Coinbase, you can’t time the market (buy low sell high) and stats show people do better with DCA than one lump purchase a few times a year. Buy, stake, rinse and repeat.