Track your altcoin/BTC investment portfolio with Google Spreadsheets
Investments in crypto-currencies are among one of the most interesting findings for me this year (2017). I decided to give them a try just a few months ago, see: First Investment In Crypto Currencies - Bought 0.2 ETH for EUR 50
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The other night I was talking with a fellow affiliate marketer on Facebook, our conversation for some reason started to focus on investments, stocks, and cryptocurrencies.
Seems that alternative finance income ideas like peer to peer lending, stocks and of course cryptocurrencies are pretty hot topic in 2017.
In the past, I've heard something about crypto currencies, mostly about bitcoins, but never have taken such investment opportunities too serious. I believe the vast majority of this blog readers feel the same. Frankly speaking, I felt surprised that there exist a lot more cryptocurrencies, bitcoin, ethereum, litcoin and more
Now, since I'm investing some money already in peer to peer lending, dividend-paying stocks and mutual funds, lately I have thought about more ways to diversify my portfolio. One of the top priorities, for now, is to keep at least 5% from the total portfolio in cash. Since 5% is not a huge position I decided it's a good time to master these cryptocurrencies, by opening a new position, allocating again the same 5% for investments in cryptocurrencies.
Investment Portfolio June 2017
My current investment portfolio consists of 41.1% dividend paying stocks, 51.2% peer to peer lending and 7.7% mutual funds. By successfully integrating two new positions in my portfolio I believe I could diversify it better. One another option I've considered before is to invest in real estate crowdfunding, see: Invest in Baltic Property Loans - EstateGuru.co - Real Estate Crowdfunding, though right now I'm just considering it, not actually planning.
Right now I don't know anything much about investments in cryptocurrencies, but here is what I believe I should do next - find a reliable platform for purchasing cryptocurrencies and use buy and hold strategy for long-term investments. I'm completely realistic and I'm ready to lose most if not all of my investments during the learning phase.
Remember investment is a risky thing
After a quick Google search and conversations with a friend on Facebook, I decided to open account at Coinbase, I like the fact they are offering to buy three cryptocurrencies -
How to open Coinbase account
Opening a Coinbase account is pretty simple and straightforward, follow sign up link, will out the information required, connect your bank account and you are ready to start investing.
Coinbase dashboard
Now there are a lot of talks which cryptocurrency to buy and which won't if you would ask me today, I have not a single clue, that's the reason for this blog post - to start my own mini journey with cryptocurrency investing.
For now as it seems to me, as with investor, and not trader, mind, I'm looking to buy all three currencies offered on Coinbase, bitcoin, ethereum and litcoin. As of writing these lines, bitcoin is valued at EUR 2,373.55, ethereum EUR 326.90 and litecoin - EUR 41.10
As my total investment portfolio value is just a little above $5,000, and as said I'm planning to spend about 5% from total portfolio value to cryptocurrencies, that means about $250 investment. With such a low investment I could buy just some 6 litecoins, 0.76 ethereum or 0.1 bitcoins. not much as you can see, but perfectly fine to start exploring the greater investment opportunities in cryptocurrencies
The Bottom Line
As you can see, I don't look on investments in crypto currencies right now too serious, though there is one single reason I'm ready to invest there. Diversity. I take my risk and I'm fully acknowledgeable that I could loose all of my investments there, that's the reason I'm looking to invest there not more than 5% from my total portfolio value.
That would be actually my recommendation to novice investors - diversify. I wouldn't put 100% of my money in crypto currencies.
That said, cant wait for the next dividend income report with crypto currency included,
