11 September, 2022 seen 1,527Deribit is my latest discovery from the crazy crypto world. It all started with simple buy-and-hold operations back in…
Time flies and it turns out it has been already more than one year since I've been investing in cryptocurrencies. Wow, what an interesting time it has been - starting with buy and hold, day trading, and even building up a custom ethereum mining rig. At one time I even experimented with cloud mining contracts.
It all started in the July 2017 when the idea of purchasing crypto once in a month came after a brief conversation with a friend over Facebook, while I was enjoying mild Summer nights in Crete, Greece.
As I had already investments and even investment strategy, since the start of 2017. Desire or FOMO (fears of missing out) to acquire cryptocurrencies was so huge, that I quickly developed, so-called, Dollar Cost Averaging strategy to buy and hold cryptocurrencies. I had a plan to buy 3-5 cryptocurrencies each month, no matter the price, until the end of 2020.
In general, that is still in what I believe - dollar cost averaging, but since July 2018 I have stopped buying more cryptocurrencies, instead focusing on dividend stock portfolio. Let's say this I have taken pause in buying more crypto. Still holding though.
I opened an account on Coinbase, (it was easy to open an account there, but it took some time to actually get verified account and start trading) I bought ETH first, then bought additional litecoins and bitcoins, additionally I bough (exchanged) additional ripple (XRP) coins, again - FOMO. See: Why I Rushed to Buy Ripple (XRP) Cryptocurrency at $0.19
Dollar cost averaging in cryptos 13 month later
These are the coins I have in my crypto portfolio - bitcoin, litecoin, ethereum, ripple, bitcoin cash and siacoin.
During 2017 and 2018 I have invested in cryptos €2,445.08 (that's about EUR 200/mo) with a value set at €2,693.40 my portfolio has gained about +10%. Decent.
As you can see from the graph above - December / January was the All-Time Height.