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…
End of the September marked a small anniversary - it has been already 3 months since I've been investing in crypto-currencies. In today's article, I will be sharing my experience and thoughts.
Make sure to read my thoughts after first-month of investing in cryptocurrencies: Invest in Cryptocurrencies - Review After One Month
It all started in Crete, Greece, we were chilling on a lovely balcony, at one of Agia Marina beach hotels, when a friend contacted me online and asked what do I think about cryptos? I didn't know much then, sure I knew in general, I had heard something about bitcoins, but that's all. After this conversation, I decided to explore more, and soon I experience my first FOMO (Fears of Missing Out).
Indeed, it felt I'm missing out the greatest opportunity of this decade. I've been investing in both stocks and peer to peer lending. The idea of having a small part of a portfolio in cryptocurrencies sounded like a missing part of my portfolio.
Sure, I understood the high risk involved here, possible ponzi scheme, tulip bulb scam you name it. Still, I decided to opt in. I decided to use dollar cost averaging as part of my crypto investment portfolio strategy and to buy crytpocurrencies once in a month, no matter the price.
Remember - investments are risky, never invest more you can afford to lose.
Strong buy and hold here. I decided to keep cryptos in my portfolio until the end of 2020. That's about 2 and a half years.
So I bought at start ETH (First Investment In Crypto Currencies - Bought 0.2 ETH for EUR 50), then additional bitcoins and litecoins. Soon I decided to add Ripple (XRP) to portfolio, see: Why I Rushed to Buy Ripple (XRP) Cryptocurrency at $0.19
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Average investment per month: EUR 175
Now after 3 months I've invested in total EUR 550 with value at the end of September EUR 620.78. That's a +12.87% growth.
Dollar cost averaging cryptocurrency investments
These past 3 months have been like a roller coaster, I've experienced both bearish and bullish markets in this short history. From a negative -17.50% growth in July (see: Cryptocurrency volatility, lost -54.42% in just two weeks) to bullish +50% value growth in August, ending +12.87% in September.