First Time Investor UPDATE: From Single Digit Investment To A Double Digits One... And Diversification! :)
After I so excitedly shot off a post here three days ago regarding my first cryptocurrency investment/trade on bittrex, I converted my existing sbds (2.334 SBD) into Steem and bought some more Ripple coins. I was thinking of diversifying into Monero or TenX when a Steemit friend I totally trust suggested that I should look at Litecoin. So I sold off more than half of my Ripple coins and got myself some Litecoin. Now I'm the proud owner of some Ripple coins and some Litecoin. :)
As of now, I'm still in a teeny weeny amount of profit. :) Though it is some way down from the $14.00 for a $10.50 investment two days back. And I've joined the thousands or millions of people checking their account balances in their wallets every now and then... Lol! I think I have the makings of a day trader in me! ;) I'll keep you posted on my crypto investment journey.
As you might have guessed, I have been doing a bit of reading and learning, so I thought I'll also share a link I come across that I find especially thought provoking or informative. Of course there are many many of them, so I'll only share the ones that helped me on a particular day.
Today's link: http://www.huffingtonpost.com/entry/10-top-cryptocurrency-investors-share-their-favorite_us_599bb27de4b0521e90cfb4e9
This post gave me a better idea of what it was that made some of the cryptocurrencies special. I was delighted to see Ripple and Litecoin both mentioned there so I think I'm on the right track.
I was also looking up posts on Steemit.
I came across this super helpful one from @acidyo. Do check it out: https://steemit.com/altnews/@acidyo/alt-news-alt-coin-recommendations-overview. This post shows that we have a person who is painstakingly following up on the alt coins scene and making creditable recommendations. We would do ourselves good by following them.
I also checked out @satchmo's blog. If you are looking at specific coins and their charts and wish to analyze them, you should definitely take a look at @satchmo's blog. I think you will be glad you did. :)
So with the hope that my post benefits those who are also learning the ropes like me, I'm signing off for now. Cheers! :)
Your new cryptoinvesting friend,
Sandzat
Great post and some really good information, many thanks :-)
Thank you, @scottish01! Glad you found it useful! :)
I think you'll find cryptoinvesting can be quite addictive, much like Steemit! So have fun with that, and make the most of it. I think it's a great feeling when you feel like you are being wise with your money :)
All the coins you've mentioned are all decent, as far as I know myself! Litecoin for sure! Personally I love Ethereum and have done quite well with NEO (previously called Antshares).
I started almost 3 months ago, and have been loving learning about and investing in crypto. Also because I'm a work from home mom, I think it's such an efficient way to have another possible income stream. I also love that it puts me one step closer to financial freedom :)
What a nice comment! Yes, it is quite addictive, very addictive. :) Both the learning as well as the trading.
It's the same for me. I'm also a work from home mom, I don't want to go for a full time job, atleast not at the moment. I like how it makes me feel doubly productive when I'm online. :)
Oh yay! Another work from home mom :) I love that Steemit and crypto in general, give anyone the opportunity to be able to work from home, or anywhere for that matter. It's definitely a great way to invest our time.
Looking forward to your future updates on your journey in Crypto :)
What a great post, I'm definitely be following your progress closely :-)