Winners & Losers: Crytocurrency Investments Month 1
I became active investing in cryptocurrency for a month now. Read this blog post for actual experiments done with screenshot.
As these are experiments, amount invested is at a modest sum with the purpose of understanding how it all works.
Here are winners and losers so far on my 1st month:
WINNERS
WINNER #1 Trading on Binance
Lesson learned:
As I am learning how trading works, I immediately sell as soon as I am able to purchase. I usually set a minimum of 10% revenue (while factoring transaction charges).
When I was starting, I was selling all the coins I was able to purchase. Recently, I decided to sell at the minimum (on Binance, the minimum value must be at 0.001 BTC) to grow with the coin especially as its value picks up.
Spread coin investment. I started getting 5 coins and focused on those below 30 dollars in value. As returns are experienced, I started expanding to other coins and gradually build amounts. I looked at the top 40 coins listed at coinmarketcap.com and the top performers / traded in Binance.
WINNER #2: Lending in Bitconnect
Despite criticisms, I was able to try Bitconnect (invested $100) and find it convenient that I am able to withdraw earnings and send it to other platforms. Kept converting earnings as well to Bitconnect coin and would like to earn through "staking" too in the future.
WINNER #3: Mining bitcoin with Hashflare SHA-256
Similar to lending, this is where you invest your money to build your cryptocurrency. Revenue projection is almost x4 or x5 from the investment value.
WINNER #4: Becoming a Trader
My sharing of experiments got me a deal where I trade / invest using another person's capital. Earnings are shared. Risks / loses factored in as well.
WINNER #5: Blogging at Steemit
Being able to earn from blogging, commenting, upvoting got me intrigued with Steemit. So far, I like the community. Thankful as well for the contribution and modest earnings.
I intend to include Steem in my cryptocurrency portfolio and invest a portion of it in the community.
WINNER #6: Mining at Minergate
Running Minergate while using your mobile phone, desktop, laptop is an activity that can happen passively. Earning cryptocurrency as a result is not a bad deal at all.
I intend to convert my earnings by getting a Bitcoin mining contract within MinerGate.
LOSERS
Loser #1: Lending at Hexabot - will it return?
I invested my earnings from Steemit and Bitconnect to get started at Hexabot. Sadly, the site was hacked. Not sure if the site will be able to return soon.
Loser #2: Mining Dash at Hashflare
Invested $100 here and the revenue projection is not even half of what was invested.
WAIT and SEE
Wait & see #1: Investellect
I tried investing portions of earnings from Hexabot to get started here. I am seeing the earnings so far and look forward withdrawing soon.
Wait & see #2: Mining Ethereum at Hashflare.
1-year mining contract only gives around 20% return after a year. Hope it will improve soon.
Wait & see #3: Mining at Genesis Mining
Mining contract does not give any revenue projection on what to expect for its Monero, ZCash, and Ethereum packages. Also got a bitcoin pre-mining package that will start on March 2018. Hope it will turn out ok.
Future Experiments
I intend to experiment also on platforms like HitBTC, Poloniex, and Chain.group in the weeks to come.
Your suggestions on platforms to explore and tips to newbies like me will be greatly appreciated..