22 November, 2022 seen 72,723It was just recently I made my first investment in cryptocurrencies, I spent EUR 50 to acquire about 0.2 Ethereum. As I bought them for a long term (buy and hold) and actually I'm planning to acquire more coins every month using dollar cost averaging and decided to build a separate Google Spreadsheet to track value changes, gains, or losses. For support…
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.
Here is a transcript from the YouTube video above
Hello everyone, my name is Reinis Fischer, and you're watching my YouTube channel where I talk about stock investments, options trading, and finance in general.
Today I'm going to talk about crypto. Despite I'm not talking a lot about crypto I have been a crypto investor for about some four years. I started with buying, some bitcoin, some ethereum and litcoin on coinbase. One time I was a miner, I built an ethereum mining rig. I was making some good money until ethereum dropped in price and I stopped this mining thing.
Seeing, as I understood, the best way to invest is, probably just buy - hold and forget about those investments. I have made some good income in the past from cryptos, right now I don't have anything much with cryptos but today i was like looking for some free capital to put somewhere and i was thinking all right i can buy some stock, which is fine.
i'm actually, i'm waiting for for the so-called bitcoin etf listed on either on new york stock exchange or nasdaq. And once there will be an etf i will be very happy because i will start trading options with the ETF. I hope we will see a bitcoin ETF in 2021, but who knows, who knows we have been waiting for this bitcoin etf for years, and the first talks happening back in 2017, i guess. Some bitcoin futures were listed at Chicago stock exchange
But let's talk about crypto today - and today i'm going to buy some Stellar Lumens.
Why I'm going to buy Stellar lumens? I have no idea what is Stellar lumens, but that's what I like about crypto, you already know the story about the dogcoin. The coin that started as a joke and Elon Musk is tweeting about it. So why not stellar lumens?
So right now I have quotes in euro coins but that doesn't matter much so right now stellar lumens is, the price is like 58 cents and i'm looking to put some, i'll put 50 euros in stellar lumens and i will do that at least once in a month. I will buy for 12 months at least once in a month stellar lumens coins and let's see, let's see where this journey is going to take me.
Will we see stellar lumens like trading one euro or one dollar, that would be awesome. Well, will it happen? I don't know. Will we see ten dollars? I don't know, anything can happen - you know the story with bitcoin it jumped like in a few months went from three thousand to 60 000
gosh I feel so bad I had about 12 ethereum coins i just sold them about a year ago for some 200 - 300 bucks per coin, and i feel sorry about that because right now ethereum is trading like four thousand dollars oh my god oh my god i was like it's about 50 000 us dollars oh gosh so i believe in crypto i believe there is some future i believe we will see a lot of lost money but uh crypto it's like kind of easy money so what if you have a chance why not throw some little money in crypto like 50 dollars what's that? that's nothing!
What can you buy this 50 dollars? You can buy about 200 stellar lumens right or 100 yeah okay math is not my good so yeah here, you go here you go the trade idea for today stellar lumens. It's up it's up like 10 in the last 24 hours
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see you soon see you very very soon