3 Ways to Save Money to Invest in Steem Monster Cards

in #steemleo5 years ago

Their is no denying the success of Steem Monsters so far and for those that have invested early (including myself) we're making some nice profit and I'm not writing this to be negative on Steem Monsters at all, but just try and explain my plan for continuing to invest in Steem Monster cards

As a side not for the rest of this article I'm probably going to be switching from Splinterlands to Steem Monster and back and forth so just to clear it up Steem Monsters is Splinterlands and Splinterlands is Steem Monsters

Slow and Steady

My plan is to focus on slow and steady investing approach as I assume the Steem Monsters market will be just like any other market and have its up and downs.

If I invest all my money now and this turns out to be the top of the market for the next few months then I want to have some additional funds as the cards I like go back down in value to lower my cost average for individual cards.


Source

Setting up an Alt Account

I've toyed around with the idea of setting up an alt account and adding it as a beneficiary to all my post.

I would set it up so that 10% of all my post rewards would go to that account (you can play around with the % each week depending on how much you want to invest in Steem Monsters and how much your posts make each week).

This helps to prevent you from getting over invested in Steem Monster cards, creates a steady source of income to invest with, and allows you to spend all your Steem in that account guilt free.

Plus, it can give you one account to easier track your spending/investing in Steem Monster that you can either use to rent out the cards, rent out the decks, or use to earn by playing through DEC.

Only Spend DEC on Steem Monster Cards

If you don't enjoy posting you can always just take the DEC you earn passively through playing ranked or in tournaments to reinvest in Steem Monster cards.

I've seen a past that aggroed resteemed that an account is going to try and build their deck just using the cards you get from the $10 starter pack and see if they're able to grow their rank through the seasons and increase it's power just off the DEC the starter deck earns from playing games.

This approach could also be used for any Reward cards you don't want to keep if you find the DEC isn't enough to invest as quickly as you want. It shouldn't be too hard to sell your reward cards for some additional Steem so you can purchase some cards you like better.

Sell Steem-Engine Tokens

I'm just ball parking here, but I imagine I get a few dollars worth of Steem-Engine tokens every week through my posts and commenting.

If you're not into tribes and have no plans in staking these coins most of them are liquid enough that you should be able to instantly sell them at market price, or set them up a little above market on Friday afternoon and come back to most of them sold on Monday.

This is a great strategy if you're only planning on investing in packs (Beta and Alpha currently). Just keep all the steem you earn through the sale of tokens on Steem-Engine, and once your out of pegged Steem you have to wait until you earn some more tokens to buy some more packs.

The Turtle Wins the Race

If you believe in the long term success of Steem Monsters, then either 3 of these options will allow you to invest a little bit of Steem into the game every day or week.

It will help prevent you from FOMOing in at the top and blowing all your Steem on your main account and having to wait months or years before you can sell some of the cards for a profit (or selling your cards at a loss) to try and catch the falling knife and reinvesting at lower prices.

You don't have to worry about near term prices as if the price decreases the following week you get to buy the card at a lower price and if it goes up then you can either keep buying more or sell your investment for a small price.

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This post has been resteemed by @original.content.

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