Income Reports

Cryptocurrency Income Report: March 2018 Portfolio Update

It’s been a while since I published an income report related to my Cryptocurrency portfolio. I’ve initially planned to do this on a monthly basis, but I believe I’ll stick to a quarterly system instead. We’ll see how it goes, but until then, I have some really exciting news to share in my Cryptocurrency Income report for March 2018.

For those of you who read the previous income report published in September 2017, I was just getting started in the world of cryptocurrency investing and ended up spending $2,500 on Bitcoin and altcoin.

I knew very little back then – and my initial hopes of getting rich were slammed by the Chinese Ban (when they basically killed crypto trading in China) but I still didn’t sell, although I was tempted to count the losses and move on to something else. I am happy I didn’t do it!

Today, I’ve been in the cryptocurrency game for just six months and it feels like I’ve been here for at least a decade and a half. There have been so many highs and lows, so many moments of pure ecstasy and pure depression, such a roller-coaster ride that I actually had to count the months on my fingers when I wrote this paragraph. I was really sure that I started investing in cryptos at least a few years ago…

Well… you need nerves of steel if you’re going to do this and I am happy that I still got them, even though I’m still far from being an expert – or somebody with enough money to invest as I please. But that matters the least right now as I am sure you are more curious to find out what happened with my portfolio.

My trading strategy

Initially, my plan was to buy and trade daily but real life got in between and I wasn’t able to do so. November 2017, for example, was a month when I did just a couple of trades. I’ve had days in a row when I didn’t even log in to my exchanges because I didn’t have time (but I still kept an eye on my portfolio thanks to my favorite mobile app).

In other words, things didn’t really go as planned and I am sure that I would’ve been in a much better position had I taken the time to trade more and focus more on my crypto game. So I ended up mostly holding and waiting, making some horrible deals in the process and some amazing ones as well, learning and getting better at this. It’s incredible how much you can learn in just six months!

What happened since the previous portfolio update

Looking back at September 2017, I see that I owned 13 different coins and my overall portfolio value was $2,500 (as I was just getting started – this being the amount that I had originally invested).

I was very active early on and unfortunately I sold some of my coins in the month following the Chinese ban, although I knew I shouldn’t have done that. I also bought coins that were praised by some people – coins that I knew nothing about, but I decided to be gullible and believe strangers on the Internet that I’m going to get rich.

Of course, that was not the case and I ended up losing more money and feeling completely disappointed with myself. It was clear to me that I am not made for this game as I was, at some point after my initial cryptocurrency buys, down by 49%.

It was then when I had to decide between taking the losses and moving on or doing it the smart way. I decided that since I had lost over $1,000, I can live with losing another $1,000 instead of always wondering “what if”. So I started reading, learning, checking out coins, stats, numbers, whitepapers, roadmaps… I started to get educated, which is the single thing that anybody must do before making an investment.

I started following trends on a few exchanges, I started to cautiously buy coins and sell them for 5, 10 or 15 percent profits and I was able to build my portfolio up again. Of course, I am not 100% sure that it was my skill here or just the fact that the entire crypto world went to the moon (remember December 2017?), but overall I am extremely satisfied.

March 2018 Portfolio Update & Income Report

Now getting back to the numbers, my portfolio this month looks a lot different than the original one I published when I initially started. I still have a few coins that I bought without proper research and as always, I now regret it, but overall I am satisfied with my coins.

I have a total of 24 coins right now, out of which several are part of an experiment I’m trying (I’ll detail it in a future article). These are the coins that I have:

As you can see, most of my portfolio’s value is in BTC and ETH which is mostly for safekeeping (or so I hope), with the smaller coins out there hoping for big gains. Apart from that, I also have a solid amount of JSECoin (I wrote about it in my previous report) but since that’s not on the market yet, I don’t know if it’s worth anything or not.

Unfortunately, I don’t have the time required to actively trade and whenever I do, it seems that the market crashes. My latest activity was during late December, when everything was selling for huge prices – and everything dropped afterwards.

But even with a lot of poor choices and trades in my history books (like selling all my XLM at $0.15 or my XRP at $0.25, basically missing out on the opportunity of scoring some $6,000), I still managed to recover nicely and I am, for a while now, recording profits.

So right now, my original investment has more than doubled. Actually, I have an increase of 213% of my original investment, which is really nice to look at.

However, it is wrong to consider this “income” or “profit” because the value of my portfolio changes as the value of my coins changes. And even though I have a solid amount of coins, most of their value basically relies on the price of BTC right now, so whenever that crashes, my entire portfolio follows the same route.

Plans for the future

My plans for the future is to keep diversifying my portfolio and no longer depend on the Bitcoin in case it crashes. I want to add a few more coins and spread out the values more evenly, so that in case a coin hits the bin, I’m not affected as much.

On the other hand, the problem with this strategy is that if a specific coin goes to the moon, you don’t earn as much as you would if you had more of that coin. But I’m now all about keeping risks to a minimum, researching new promising coins and investing smarter. Because, unfortunately, I don’t have the time required to do real trading right now.

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