I am one of those people who were extremely late to this whole cryptocurrency craze. So late, actually, that it’s just last week that I got into the game after buying my first Bitcoin and Ether – then started to dip my fingers into exchanges and investing in cryptos I have faith in – like EOS, which still gives me headaches when I look at the charts.
In today’s article, I am going to share with you my September 2017 cryptocurrency portfolio. Things looked a bit different at the beginning of the month, but I have adjusted it now following the crash caused by the Chinese ICO ban and I plan to hold on them for a while.
I also plan to do a monthly report where I will hopefully have really great news to share with you. But we all have to start somewhere, and the beginning is today with a rather unimpressive intro, I believe.
I’m a cryptocurrency noob!
Yest, that is true and I am not afraid to admit it. The truth is that I only started to heavily research cryptocurrencies for the past month and a half. As I said, I actually bought my first cryptos with real life money just a week ago.
I am such a noob that until last December I thought that there’s just one cryptocurrency in the world: Bitcoin. And that it completely sucks.
I’m such a noob that in June last year, somebody wanted to donate 0.1 BTC for the work I did on one of my blogs. I told them I had no idea how to receive that (and I didn’t even think it was worth it to take 10 cents of something). The guy even told me to create a Blockchain.info account and send him my walled address, but I simply ignored the request. Back then, 0.1 BTC was worth about $50 and I didn’t know that. It was a generous donation nevertheless. But today, it’s worth about $450. I regret not accepting the donation. I am sure the one who wanted to send it over doesn’t.
But we learn from our mistakes, right?
So I started studying, following websites, following Coin Market Cap and seeing the upwards movement of the coins and I decided to do it. Just spend some money on some BTC and ETH and get rich.
I was actually 100% certain that I would be able to double my money in a week or so. I had a plan too: invest $1,000, double it, turn $1,000 into FIAT coin and invest the next $1,000 in cryptocurrencies. Rinse and repeat.
Well… it’s not that simple. Especially because I bought last week, just before the ICO-related crash. When I bought, BTC was $4,600 and all the other cryptos were riding high (except for EOS). I lost my breath when I saw, just a few days later, BTC crashing to $4,000.
But I didn’t lose faith. On the contrary – I rushed to spend some more money from my savings and I bought a bit more. I don’t have a ton to invest and since I’m a beginner I don’t want to risk too much money, but all in all I ended spending about $2,500 on BTC and ETH. A large amount for me and definitely a lot more than the $1,000 I had initially planned to invest. And WAY behind on doubling my investment (or actually making a profit).
But I won’t invest more for two reasons: First, I don’t have a lot in terms of savings anyway and I don’t want to risk all my money right now. Second, I still don’t know much about most of these cryptocurrencies and I am not sure that the ones I trust should really be trusted. I need more experience so at least until 2017 ends, I won’t buy any more.
And hopefully there won’t be any other crashes to make me lose my breath again!
My Cryptocurrencies portfolio and Income Report
These being said, let’s take a look at the currencies I own at the moment. Some of these were bought just because I thought they might be a good buy – they seemed at a low when I bought them and I was sure I’d make some quick profits off them in a few days. I had no idea that the crash would come and they would drop even more. It sucks, yes!
As you can see above, I have things spread out like the wings of an eagle. I was afraid to buy the more expensive currencies when I got into the game because I was afraid they would drop in value – and I was right. I fortunately got on the boat with Monaco and DASH when the crash happened, and also invested in STORJ back then because I consider it a great prospect for the future. Actually, I am surprised it doesn’t do a lot better.
I am also holding on some exciting currency that is not listed there because it’s not on any market: JSECoin. I have around 50 units at the moment, but I expect the quantity to at least double by the end of the month. However, I won’t list it in the pie above until it goes on at least one market. You can read more about JSEcoins below (and a full article is coming soon).
I am planning to hold indefinitely on the following Cryptos: BTC, ETH, EOS, 1ST, DASH, JSECoin and MCO.
I am planning to hold on the following coins, but sell if they reach a nice peak and start going down: STORJ, OMG and GNO.
I am hoping to sell the following coins at the end of the month for a nice profit: AMP, STRAT, BAT, ZRX (However, I am ready to hold onto them as well if they won’t return some nice profits).
I am not extremely happy with my portfolio and all the coins I have. I bought some of them just to test them out and see how trades go – and I have no idea what some of them stand for. This is not a good long term strategy and you can’t gain too much from this. So things will change.
I was unlucky to buy before the crash when all cryptos were growing like crazy. I was lucky to have some money left and buy a bit during the crash – those currencies went up since then and helped me lower the losses. But I’m still way behind on making any profits.
Basically, right now I have 5.93% less than what I had last week when I first bought my first BTC and ETH. It would’ve been even worse had I not but some extra BTC for $4,000 – and invest it in MCO and DASH, which both grew, combined with the BTC getting to $4,500.
Hey… what the hell is JSEcoin?
You probably saw it above and that I plan to hodl. Not many people have heard of it, but I did and jumped in. I will write a complete guide and review this coin soon because it has the potential to be a true game changer in my opinion and completely change online advertising and website monetization.
Plans for October
I am planning to read a lot more and learn a lot more about the cryptocurrency world, how it works and especially learn more about the existing cryptos and decide which are those I should invest in.
If all goes well, I will have a profit of at least 15% (although I am hoping for much more) after selling the 4 short term cryptos and I will buy low other coins I know more about and trust to increase their price in October. If it doesn’t go well… I’ll just hold a bit more.
I will also follow the ICOs worldwide and see how that goes – and maybe invest in an ICO or two, or at least create a shortlist of upcoming coins that seem promising and maybe buy when they get on some exchange or another.
What do you think about my cryptocurrency portfolio? All suggestions and comments are more than welcome! And don’t forget: you can subscribe to receive email updates each time new content is published on the website. Zero spam too!