On May 12, 2021, I bought a small amount of XLM - Stellar Lumens crypto coin from Coinbase - I decided to invest in this coin for the next 12 month, once in a month buying coins and spending about USD 50 on that (monthly)
Disclosure: This article contains affiliate links to the Coinbase.com website, by clicking on links on this page and by investing with Coinbase, I will earn affiliate income at no cost to you. Also, I'm not a financial advisor and I don't give you any advice, I'm just sharing my own experience. Investments in stocks, funds, bonds, or cryptos are risk investments and you could lose some or all of your money. Do your due diligence before investing in any kind of asset.
What do we know about Stellar Lumens crypto coin?
Stellar, or Stellar Lumens, is an open source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies. The Stellar protocol is supported by a Delaware nonprofit corporation, the Stellar Development Foundation, though this organization does not enjoy 501(c)(3) tax-exempt status with the IRS
Stellar Lumens coin price
Stellar coin chart, source: Coinmarketcap.com
It seems we are in a bubble now, and most probably stellar coin is going to pop (just like the rest of the crypto), but if not, we are going to enjoy the ride.
Remember invest only what you can afford to lose. From throwing USD 50/mo * 12 seems fair, and here is the thing I have found from my short 4 years experience with crypto - dollar-cost averaging works the best. I wouldn't rush now to put tens of thousands in Stellar Lumen as a lump sum, instead of dollar cost averaging once in a month.
I started with the classics – Bitcoin, Ethereum, and Litecoin on Coinbase. I even tried my hand at mining Ethereum for a while, but, as they say, all good things must come to an end when the market takes a dip.
Now, my crypto strategy is more about the long game – buy, hold, and let the market do its thing. I've had some wins in the past, and today, I found myself with some free capital itching to be invested.
Bitcoin ETF: A Game-Changer
I'm eagerly awaiting the arrival of the Bitcoin ETF, set to be listed on either the New York Stock Exchange or Nasdaq. Once that happens, I plan to dive into options trading with the ETF. Fingers crossed, we might see the ETF hit the market in 2021. The anticipation has been building since 2017, and I believe it could be a game-changer for crypto enthusiasts like myself.
Stellar Lumens: A New Venture
But let's shift our focus to today's crypto pick – Stellar Lumens. Now, I'll be honest; I don't know much about Stellar Lumens, but that's the beauty of the crypto world. Just look at Dogecoin – started as a joke, and now Elon Musk is tweeting about it.
I've decided to put 50 euros into Stellar Lumens, and I plan to repeat this monthly for the next 12 months. It's a journey into the unknown, but that's what makes crypto intriguing. Will Stellar Lumens reach one euro or one dollar? Who knows! Could it hit ten dollars? The possibilities are endless, just like Bitcoin's journey from three thousand to sixty thousand in a few months.
Reflecting on Missed Opportunities
Speaking of missed opportunities, I can't help but cringe at the memory of selling my Ethereum coins for a fraction of their current value. Ethereum is now trading at around four thousand dollars, and I sold them for a mere two to three hundred bucks each. Lesson learned – crypto has its ups and downs, but it's a world of potential gains.
In the crypto realm, anything can happen. It's a rollercoaster ride with the potential for both gains and losses. So, why not throw in a little money – say, 50 dollars? It's a small investment that could turn into something significant.
If you enjoyed this crypto journey and want to hear more, subscribe, click the notification button, and drop a comment. I'm all ears and excited to share more about the fascinating world of crypto. Until next time, happy investing!
