Now that I’m writing more and more about Cryptocurrency on my blog, and in tandem investing more into crypto I thought I’d start a new weekly post to track my portfolio. I have been investing in cryptocurrencies since 2015 but really only stepped up my game in the August/September timeframe this year. Since then I’ve seen some incredible growth particularly with Ethereum and Litecoin.
This month I bought back into Bitcoin when it dipped into the $13,000 range and added Bitcoin Cash, Ripple, and Verge to my portfolio. Given how much the cryptocurrency market can change in a week I thought it would be fun to share how my portfolio grows, or shrinks on a weekly basis.
One important thing to point out here is that, like domain names and most other investments that I make, I’m a long-term investor so I’m looking over a 5+ year time horizon, not a week, not a month, not even a year. Another important note, every penny I put into cryptocurrency came from profits from other investments. So if every single cryptocurrency I decide to invest in goes to zero, it’ll be okay since I haven’t put a dime of money in that I didn’t get as profit from previous investments.
I know a lot of people are getting excited about cryptocurrency (for me more than ever!) but it’s important to remember how risky this is. Don’t put your life savings, or any savings for that matter into cryptocurrency. With so much volatility in the market I do think you need to be okay just hanging on and not touching your crypto investments for years. So that means you can’t panic if it drops by 50% overnight and sell…instead you need to HODL, hold on for dear life.
Last but not least, I’m not expert here. Like I said, I’m investing profits, this is play money that I could lose overnight and nothing would change in my life. I also have very limited experience with cryptocurrency so I wouldn’t look at my investments as guidance for anything you should be doing yourself, I’m doing somewhat educated guessing like most people.
Okay, so without further ado, here’s the first of my weekly cryptocurrency portfolio updates:
Now I’d love to hear from you. What do you think about the investments I’ve made so far? Comment and let your voice be heard!