Crypto shopping cart - 11 December
The time to buy is now, I have said it often, it's only getting more and more true as time passes.
Even if the bottom of the market isn't in yet, it is better to buy than to miss out. When your Tron that costs $0.013 today is one day worth $50 per coin, you won't care that you could have bought it for $0.011, you'll just be glad that you did buy!
There are some remarkable "specials" available in the altcoin world. I went through my whole portfolio yesterday and I was shocked how little some of my coins were worth. I look at them every day of course, but it doesn't always sink in how far they have fallen in price. I now hold single digit dollar values of many cryptos! This is a good thing for buyers, an excellent thing in fact. Perhaps I will suggest a few of these "specials" in an upcoming post.
Crypto shopping cart - 11 December
From http://www.pexels.com
What's in the cart?
- NEO
- Binance Coin
- KuCoin
- Enjin
Funding the buys
It would be a poor show if I kept recommending buying to people, yet never did any buying myself. So I am, at least I am to the best of my ability. Due to a change in my work circumstances, I simply have absolutely no money at all available for cryptocurrencies, so I am having to find creative ways to buy crypto.
To miss out of such cheap prices would be crazy, and not something that I am willing to do, so I am doing whatever I can to scrape together whatever I can find to fund my buying. Previously I would have sold off a little STEEM, I don't have much to sell, but it all helps. Right now the price of STEEM is too low to make that viable; chances are I can make more by holding my STEEM and waiting for it to increase in value, for that reason I'm not selling STEEM to fund other crypto buys.
What I did sell yesterday was my Ethereum Classic (ETC). I earn a small trickle of ETC from my surviving cloud mine. I think I caught ETC at a good price and I was happy to let it go in order to buy other cryptos. Before selling any coin I always do a mini-analysis of it. From a fundamental perspective I'm sorry to say that I don't see a great future for the Ethereum clone. The few projects that run on the platform, and which they are bragging about, are what I would call "unimpressive". I just can't see how ETC will gain sufficient market differentiation, popularity and quality DApps to make it a success. I consider it over-valued (relative to the rest of the crypto market - not in fiat terms), so I sold it.
The other thing I did this weekend was to claim my Bitcoin Cash SV (BSV/BCHSV). My goodness, what a lengthy and terrible process! I should have used the Kraken method, but I'm not KYC'ed there and I thought the manual way would be quicker. I used the "Electron Cash Splitting" method at https://support.ledger.com/hc/en-us/articles/360012270054-Safely-claim-Bitcoin-Cash-SV-BSV-. As long as you follow the steps slowly and carefully, I wouldn't say that it is difficult to do, provided that you have some experience with crypto wallets and exchanges. There are just so many steps and that each of the (many) Bitcoin Cash (BCH) transactions takes ages to confirm (even when I used larger transaction fees than recommended). Note that Bitcoin Cash and not Bitcoin Cash SV transactions were the slow ones. Maybe the wrong chain won...
Anyway, as the "loser" of the high-marketcap-just-another-bitcoin-clone war, I decided to sell my BSV. With the likes of Bitcoin, Litecoin, Zcash, Dash etc around, one must question if BCH itself is needed - I already sold half of mine earlier in the year. Like ETC, I don't know if it will have a proper market in the future, and if BCH is doubtful, then BSV is even more so. So I sold it. And that's how I funded this round of buying.
NEO
What can I say about NEO? It's the coin I love and research so much that I can't write a post about it because I have too much to say!
NEO has dropped from an ATH of very nearly $200 to almost $5.50 this week, now trading at roughly $6. In other words, NEO has dropped to below 3% of what it was once worth! To call this a "bargain" is to illustrate the woeful inadequacy of the English language when it comes to expressive superlatives.
NEO is fantastic. Much better than Ethereum. Much better than EOS. Much better than, well... ...anything! At this price it's got more ROI potential than any other crypto, perhaps even CargoX (CXO). Even if you can only buy one single NEO coin then do so. I try to pick up a single every now and again with the funds I assemble. Imagine that those single coins were worth $200 again! Imagine that they go far beyond that! I think that they will.
I bought my latest NEO on Binance.
Binance Coin (BNB)
I don't have to write much about Binance Coin because I did just only that five days ago. Read this post, it's focussed mainly on the Binance DEX, but does cover BNB too: https://mentormarket.io/bitbrain/buy-nance/
I bought my latest BNB on Binance.
KuCoin Shares (KCS)
The little exchange that could. I've said many times how KCS made me more profits than any other crypto. I bought mine at far less than $1 and watched it hit $20, all in the space of a few months! Great news! KCS is available for well under $1 again! Yes folks, you get get TWO KCS for less than $1 right now!
When the markets pick up the exchange coins will fly upwards in value, especially the good exchange coins! KCS, like BNB, was one of the first. But KCS pays dividends...
I've written about Kucoin Exchange on several occasions, and I've mentioned it in many of my other posts. Take a look at these KuCoin specific posts:
- A TOUR of the BEST CRYPTO EXCHANGE
- Did you follow my KuCoin "buy" recommendations?
- Your BTC TA could win you 1 BTC today!
There is a permanent referral link to both KuCoin and Binance at the bottom of every post I write. I'm also including referral links after each coin in this post, please use them. I bought my latest KCS on KuCoin.
Enjin coin (ENJ)
I bought BNB and NEO on the weekend and I bought KCS yesterday. In the interests of remaining diversified and splitting risk, I like to buy more than one coin at a time, though I didn't have enough money to justify buying more than two. This left me with a problem: which other coin to buy. There were some very strong contenders: CargoX (CXO), carVertical (CV), Aphelion (APH) and especially Covesting (COV), but my coin was another old favourite: Enjin coin.
The misnamed Enjin coin (it's actually a token) has picked up some nice, steady volume and looks poised to take off against BTC.
From https://coinmarketcap.com/currencies/enjin-coin/
If you want to know more about Enjin coin and why it has such a bright future, then I strongly recommend this excellent three-part series about gaming coins: (I know that it's excellent because I wrote it myself)
- How to: Win the game of cryptocurrencies - Part 1
- How to: Win the game of cryptocurrencies - Part 2
- How to: Win the game of cryptocurrencies - Part 3
I bought my latest ENJ on KuCoin.
So that's what I've been up to lately with my own trades. I really suggest buying at this time, the offers are too good to pass up. And if, like me, you don't have money for purchases, then get a bit creative and see what you can swap around to get yourself a few of these extremely undervalued coins and tokens.
Yours in cheap crypto
Bit Brain
Bit Brain recommends:
Crypto Exchanges:
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Published by BitBrain
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Well I did the same of few weeks ago! I am just trying to bring down my average book price. This is the moment to do so.
I doubled most of my altcoin holdings.
I do see that you are also into investing in exchanges. Coss.io is in that aspect an eye opener. They just launched their new interface and it looks smooth.
Plus they do have a fiat gateway for USD, British Pond and the Euro.
The price of the Coss token is now around 0.05 euro. It is a bargain and just like KCS they do offer dividend.
Feel free to use my referral link: https://coss.io/c/reg?r=07LODCC45Q
If you don't want to just go to: https://coss.io
Cheers,
Peter
Ha ha, thanks Peter! I bought COSS token even before I bought KuCoin. Then COSS became a horror show and the users all fled. The liquidity dropped to nothing, wallets and trading pairs failed and I found myself with most of my funds stuck in limbo on the exchange. Taking massive losses from trading almost unused trading pairs, I managed to finally extract my funds from COSS. I will NEVER go back to that abomination of an exchange. If the managament can do that once, they can do it again. It's the same reason that I avoid Electroneum like the plague.
Thanks for the heads up. Didn't knew it has been that bad with COSS.
Look, I'm sure it's fine now. But when a management team proves its incompetence that is a huge red flag to me, because it means that they can do something else disastrous further down the line (and that doesn't just apply to crypto!)
This is an old article of mine, but 100% relevant to this discussion. It may help you: https://steemit.com/cryptocurrency/@bitbrain/who-do-you-trust
Agree with your assessment of BCH forks as Litecoin looks to be close to taking over both in market cap soon. Using it as my transactional Crypto in the future...
Posted using Partiko iOS
I normally use LTC too. Perhaps it's just because it's old that it's accepted everywhere, but that, combined with cheap and relatively fast transactions, makes it extremely useful.
Yikes, buying alts now, ballsy move! They are super cheap, I agree, but BTC isn't done screwing over the market just yet. I am anticipating some short term gains but mid term I think we're going to get another cold snap - the final one that will break the altcoin camel's back. That would require BTC to drop below $3K probably. But if that is so, you newly bought alts are going to suffer twice as bad - if BTC drops 20% then alts are going to drop 40%.
I think the best places to put your money right now are BTC and maybe Ethereum. 'cause ETH is different from the other alts and I don't think it's going anywhere. Plus, sub-$100 ETH??? geez..
fun fact: BTC and ETH are the only two crypto's of which the SEC has publicly said that these are not securities. Everything else is considered to fall under the security category. I don't know why this is but I expect that they needed to classify ETH as 'not a security' in order to be able to attack the ICO's which were funded with ETH (funding implies 'money' not 'commodity' - you can't illegally fundraise in 'goods', I think)
That's all true, I don't dispute it. As I've said before though, I'd rather make a non-optimal trade then not trade at all. I KNOW my alts will be killed further, but since I'm trading them for one another (not BTC or fiat), I'm not really losing. More importantly: I want to be sitting on them when they rise again, because they will outstrip BTC 2:1 going upwards as well as downwards. Alts are SO overlooked that they are literally laughably cheap and too good to pass up, even if they will drop further.
The SEC can **** off and **** my **** for all I care. It is only while people are still sitting on the sidelines waiting to dive into crypto that they hold any influence over the market. Once the money is in, once the money realises what "decentralised" means, once the money realises that it has become untraceable and anonymous - then the SEC will become a joke in the crypto world; shouting futile threats from the sidelines.