I feel an immense need to write a paper on my experience in cryptocurrency so far. It started back in 2014 when I invested into 2 Bitcoins for $757.64 and diversified when it had grown to $5053.75 in 2017. In my research I concluded that I needed to reinvest all of it completely. The reason why I have depleted Bitcoins for other coins was the fear in the community, implementation of a new technology that would activate on Aug 1st, and uncertainty that events would lead to inflation and even reaching a value of $0.00. In order to preserve its value, I reinvested half of my Bitcoin ($2289.08 price fluctuates) and another $2100 from fiat to Ethereum, which at this point has grown 50% in value (to $6583.62) in the past 1-1.5months, sprouting an additional $2194.54 to its current value. The other half (Total: $2764.67: $506.05 to MinexCoin ICO, $988.67 to Digibyte, $1270.67 Lykke) was split into three coin investments that very different from each other. This was within my first 1-2 weeks returning to the crypto-atmosphere. MinexCoin and Lykke are similar in a way that they lean toward price stability. They are different in that MinexCoin was my first experience in an ICO and includes a feature of “parked” tokens in which it would grow 33.7% coins per year, right now it is set to grow 70% in its first year. Lykke has a very nice and friendly user interface, it’s a trading platform with 0 comission. These two have been the rock in my volatile portfolio, together they have increased ~$250 in value. My biggest disappointment would be my investment in Digibyte which has since plummeted. I was 1-2 weeks into the cryptosphere and very hyped up coins manage to have shifted my interest in investing in that coin. From my perspective as an investor, yes, they did have a somewhat weird looking website, featured too many features that promise to make, and the entire community just kept talking about the currency going to the moon etc. It looked quite exciting, being that I was pretty “new” I put $988.67 in it to which rose to around $1200 and after all the hype, today it is sitting at around $521.60. This puts me so far at a $271.60 loss in that group of investment. Imagine had I invested $2764.67 into just one of these coins, there would have been a 1 in 3 chances that I would easily cut my investment in half.
After another 1 or 2 weeks, I had a nagging feeling that I needed to diversify my Ethereum funds that I believed in, immidiately. I invested $711.50 from Ethereum to AntShares (NEO) and $1076 to Sia. I am quite grateful I did it then because soon afterwards Ethereum started to have its problem with transactions and went into a flashcrash, transactions were being backlogged and things were getting messy. My gut feeling told me that I needed to get some Litecoin from fiat at $1979.06. At this point I’m a “hodler” for ETH (Smart Contract), LYKK (Stable/Bank/Trade), DGB (??), MNX (Stable/Bank/Growth), ANS (NEO) (Smart Contract+), and SC (Storage).
I have deeply contemplated of putting all eggs in one basket into Antshares (NEO) in hopes that a $12,500 investment would grow to $560,000 within a year. Though I strongly believe that it is possible, my conservative side and my quick life lesson from DGB tells me to do so otherwise. I look forward to getting more Bitcoin when the price, hopefully, plummets, and the dust have settled around November 2017.