Hello everyone, today we are going to be talking about cryptocurrencies. I’d like to start off this post with a huge thanks to a post on how to buy ripple with credit card. Thanks to this post not only was I able to buy ripple but I was able to buy all other cryptocurrencies out there.
I made it my goal for this year to buy handful of a bunch of difference cryptocurrencies and see where it would take me. After the huge December that all the cryptocurrencies had, I figured better late then never to get on in this. So I did a lot of research and figured out how to buy cryptocurrencies and what ones to invest it.
My basic plan was:
- Learn How To Purchase These cryptocurrencies
- Study Which Ones To Buy
Seems like a pretty straight forward plan, but it gets more complicated as we go down the list. First was learning how to purchase everything. I have to say, and after reading online, a lot of people agree. Buying cryptocurrencies is hard! All the hoops you have to jump through and all the waiting you have to do. So I spent several days trying to figure out the easiest, and most cost efficient way to buy cryptocurrencies. That came down to, buying Ethereum on CoinBase, and moving it over to Binance.
Next on my great plan was studying. I wanted to make sure I actually picked decent cryptocurrencies to invest in, I wasn’t just going to pick a random handful of them and be like “Hope this works”.
For almost all of my research I used, CoinMarketCap. The main thing I focused on was Price and The Circulating Supply. I wanted to be able to buy a lot of the coins, so I wasn’t going to go out and Bitcion, Ethereum EOS ect. I wanted to be able to buy 10s of 100s of the same coin.
So If I was going to spend $200 on different coins I could get 20 different coins and put $10 in each or do only 10 coins and buy $20 each. I actaully decide to mix the two together and do 10 coins and $10 each. So I was hoping to get 10s or 100s of each coin. So The price of the coin would have to be between, $0.50 each and $0.05 each. So that is where I started. Anything below $0.05 to start with. But there is also another thing I paid attention to. The circulating supply.
A low price and low supply like Substratum, current price $0.43 supply 383,021,000.
We are going to see how this plays out for me. Below is a list of all the coins that I bought and at what price we will see how it goes next month!
Substratum @ $0.437269 (22)
MaidSafeCoin @ $0.422934 (23)
Syscoin @ $0.383351 (25)
Loom Network @ $0.406633 (24)
CyberMiles @ $0.300612 (31)
Centrality @ $0.212085 (45)
Ardor @ $0.257818 (38)
Nxt @ $0.138970 (71)
BitShares @ $0.205076 (47)
So these are the ten coin that I will be holding onto until December no mater what. Will see what happens. Worst case I’m out $100 best case, I don’t lose any money, amazing case, I actually make money. But that is not what I’m doing this for, I’m only doing this as an experiment, I’m not expecting to come out of this making any money.