Become a Crypto Millionaire with this investing strategy app (UPDATED 1/18/2018)
Hello my fellow Steemians and Crypto Investors,
As announced back in December, the Crypto Millionaire investing app is ready and successfully published at Google Play! It was approved and published by Google on the same day the Bitcoin futures were launched by CBOE in Wall Street, a lucky coincidence maybe? :)
The app has now been updated with the following:
- Added coin holdings details
- Added coin percentage changes, daily, weekly and last hour
- Added number of coins needed to reach goal
- Added new coins
- Fixed issue when converting from fiat currencies
More features and an IOs version are on the way
Patience , patience my friends. App developing is very demanding work which takes lots of time and money so the more app installs and eyes seeing ads on this free app the faster I will be able to outsource some of the work, especially for the IOs version which I'm outsourcing almost 100%. So, the more you share it with your friends and make it useful for more people, the faster we'll all get to making it perfect!
The app helps you create a balanced portfolio that holds the millionth of supply of the top crypto currencies by market cap.
The strategy is based on a combination of passive indexing (recommended and followed by investing legends Warren Buffet and Benjamin Graham) and the new “Millionth of Supply” investing strategy targeted to crypto currencies (popularized by Adam Meister of the Bitcoin Meister @bitcoinmeister Youtube channel at https://www.youtube.com/channel/UCsqKbe0_9D9gO48DeuDjbCg).
The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap. This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the top coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply.
- More about this investing strategy in detail bellow and at : What percentage should you invest in each coin to become a multi-millionaire? A winning index strategy
You can start investing with very little money every month, or buy the top coin’s millionth of supply right away. Either way you’ll be happy you did as good as possible without the stress of active investing, the FUD and FOMO so typical in this field.
Unless all coins fail, which is highly unlikely, you will very likely become a crypto millionaire by following this investing strategy with your disposable income (ONLY).
The app is free to use, however, it has non-obstructive ads to provide a bit of support to the work of the programmers who created it, with crypto love, from Cuba and Miami.
Especial thanks to @bitcoinmeister, @taskmaster4450 and @gold84 for their kind comments, encouragement and suggestions that made this app possible.
Notes:
App pricing information feeds from CoinMarketCap.com’s API. To refresh swipe from the top.
This is not professional investment advice. I'm not your financial advisor. All investments carry a degree of risk. Only invest money you can afford to lose! Do NOT go into debt to invest.
This app DOES NOT collect or transmit to the internet any portfolio information. All portfolio data entered in the app can be entirely made up for education purposes and changed at will anytime.
What percentage should you invest in each coin to become a multi-millionaire? A winning index strategy
Investing in crypto is becoming a safer bet each year as Bitcoin and altcoins get older, improved and better established. We are still in the very early days of crypto and the opportunity to strike it rich is well within reach of most people, provided they have access to the internet, modern banking and a little disposable income. However, for most new investors coming into the crypto space deciding which coins to invest in and how much is a very complicated issue.
There’s so many of them, so much information, high tech jargon and amazing promises that sound more like lies uttered by politicians than from the nerdy developers that are pitching them. Every new coin is hyped, packaged and sold like the next Amazon... However, despite all the hype and noise, we can now say with a high degree of certainty that some of them will make it big in the future, but which one(s)?
Interesting fact: All users of crypto currencies today represent less than 1% of the number of current Facebook users. More details
The reality is, no one knows, whoever tells you they do, they are flat out lying, fooling you and themselves. This market looks very much like the early car industry in the United States. Thousands of car brands appeared everywhere, a lot of them were very promising (remember the DeLorean?), but most eventually went bankrupt, only a few succeeded in the long run.
So, how do I know which coins will succeed?
The simple answer is you DON’T. Trying to pick winners is very dangerous game that most people lose, those who don’t are demonstrably just plain lucky and end up losing everything the next time they bet big. The strategy that I’m introducing guarantees the winners come to you, rather than you pick them up.
How much money should I put in each?
This is a huge conundrum for most investors. With so many coins available and limited disposable income to invest it’s hard to distribute the funds in a sensible way.
Introducing the Millionth of Supply Passive Indexing strategy:
The following spreadsheet feeds from Coinmarketcap’s API and lists (or indexes) the top coins by market cap and daily trading volume. The coins at the top give you a pretty good idea of the current coins being favored by the market as of the day of publication of this post.
Download spreadsheet image showing USD value of millionth of supply and percentages to invest to own the top coins by market cap. Follow me @CryptoEagle for updates.
The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap . This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply .
In columns T and U of the spreadsheet you'll find the percentage of funds you should invest based on market cap and the USD value of the millionth of supply of the coin. This is calculated by dividing the USD value of the millionth of supply by the total amount you should invest to own the top 10 or 20 coins.
It doesn’t matter if you invest $100 dollars every month or $100,000 at once, your goal will be to own the millionth of the supply of the top coins as soon as possible without spending any income that's not disposable to you . So, if for example, all you had is $100 dollars to invest monthly, you would invest this amount in each top coin according to the percentages shown, no more, no less. At the bottom of the columns is the total amount in USD you would invest to do this for the top 10 and 20 coins.
How rich will you be if you follow this strategy?
There are currently an estimated 10.5 trillion dollars in existence. If you owned a millionth of the supply of US dollars right now you would own about ten million five hundred thousand dollars!
In the United States alone, at end of 2016, there were 10.8 million millionaires, according to a study from Spectrem Group's Market Insights Report 2017.
Credit Suisse estimates there are about 35 million millionaires in the world (including all financial and nonfinancial wealth, such as assets, collectibles, and homes). If we compare this number to 21 million, the total number of Bitcoins that will ever exist, we can see that there won’t ever be enough Bitcoins in the world for every millionaire to even hold just one!
Also, this doesn’t account for the disruption of other industries such as remittances, Gold as a store of value and many other new uses of crypto currencies that we can’t even dream of today. As an example, if Bitcoin overtook just 5% of the market cap of Gold, a single bitcoin would be worth approximately $24,000 USD.
But, “introduce any crazy coin name here” is so great, the technology is amazing, so exciting. It’s the future, my guts tells me!
Yeah right, the market doesn’t care about your hunches, white paper promises, or all those great technologies that people sell as the best thing since Coca Cola. Nope, only market cap, volume and related network effect can tell you what coin will end up being favored by the market.
You must re-balance every once in a while
About every 3-6 months you should take a look at this index and re-balance it. Follow me for updates to this post. If any coins dropped in market cap sell them and re-invest the money on the top coins until you own the millionth of their supply. If there are new coins in the list you should invest in them until you reach the goal as well, no more (over invest), no less (under invest). If you don’t do this you are risking missing the upcoming coins and keep investing in the long term losers.
Don’t invest on coins that only briefly come to the top
(Especial thanks to @famunger for contributing to this point)
Even though the spreadsheet gives a pretty good idea of the top 4-5 coins, as you go down the list you will see, every once in a while, some temporarily overhyped coins that come up but can’t sustain their ranking and eventually crash. Only invest in coins that manage to maintain their ranking on the list for at least 3 months or more. Don’t fall victim to the Fear of Missing Out (FOMO) so typical in this world. Think of these coins as if they were the hot chick from high school that got away but later you find out she became really ugly...
Advantages of this strategy:
You will be almost 99% guaranteed to become a multimillionaire by owning the top coins the market finally ends up favoring. You will certainly sleep like a baby!
You can start investing with very limited funds and continue investing periodically. Even if you don't get to own the millionth supply of every top coin you'll be certain you did as best as you could with your limited resources.
You won't over or under-invest in any particular coin and thus keep risks at a minimum.
You’ll skip all the typical drama of investing in cryto. The Fear of Missing Out (FOMO), the Fear, Uncertainty and Doubt (FUD), the daily crashes, the pumps and dumps etc. will not rattle your nerves and send shivers down your spine every time they happen.
Disadvantages:
This is a boring, long term, no feelings involved, passive strategy, you will not have the adrenaline rushes and enjoy or suffer all the crypto drama. Picking winners is reduced to a simple to follow probabilities game.
There may be coins that gain 1000 percent in a few weeks that won’t show up in the index until their market cap grows to the top and which you will miss but, on the bright side, you’ll also miss the big losers, the suicide inducing and family wrecking crashes.
There’s still the slight possibility (the 1% chance) that the entire crypto world is a huge bubble that will never work, the Internet could come crashing down after an EMP attack or a meteorite could strike earth... In which case we are all screwed anyways and should worry more about food and bullets to fight the zombies...
CHECK OUT MY PREVIOUS POSTS:
"It's Been Dismal" - Gold Coin Sales Slump As 'Bugs' Bounce To Bitcoin
Bitcoin All-Time-High on Google Trends - 91% strong correlation with its price
Why China (or governments) can’t stop crypto
ETHEREUM’S RAIDEN VS BITCOIN’S LIGHTENING – What’s happening?
SEE THE CHARTS! Segwit progressing slow but already helping ease congestion in the Bitcoin network
Tell me what you think of this post in the comments below. This is not professional investment advise. I'm not your financial advisor. Only invest money you can afford to lose!
Follow me for updates news and commentary on "sane" crypto investing.
Happy crypto investing!
Keep me posted for the IOS version.
It will be useful
Actually the chance of getting rich through crypto is getting very wide and can close any minute.
Keep on steemin'
Thanks Pouchon,
I hope this app brings more people to crypto investing and, at the same time, protects them by being diversified on many coins. Will keep you updated on the iOs progress. best regards!
I can confirm that this is a slick, easy interface app. The strategy is also solid!
Thank you Dan, this strategy has been super succesful for my portfolio and lets me sleep like a baby every nigth! With the app and these posts I just want to spread the success and make it easier for other people to invest in crypto. Thanks so much for all your support, the app is been increasing in users by 50% weekly since I published it!
Outstanding, I'm really glad its having success.
Hello Dan, just published an update to the app. Now you will see up to 300 coins plus other goodies, such as charts, changes in prices etc. More to come! Hope you like it! Regards
Oh sweet, I have quite a few coins outside the top 100 and I love a good chart. Thanks for the heads up!
This is so great! You got the great point here......
good app. but I don't think I ll use it. I trust myself more than depending on an app, and that too from google.
no thanks.
I like your confidence , but I think I ll try this app to see a different point of view on investment with this app.
thanks
interesting post like it and upvoted.
@cryptoeagle this is so interesting investment strategy I'll definitely try this out really man this article is so unique. Keep steeming!!
I would like to try this app, just to get a different point of view on investment .
if I could double upvote this post I would !.. cryptomillionaire looks ace. A lot of people are already trying to hold 1,000,000th of a coin's value and to be honest, this last months rollercoaster notwithstanding, everyone on steemit should already be doing quite well in the future, not least of all because their general level of knowledge, awareness and potential of blockchain is indeed much higher than the populace. I shall be downloading this and giving it a proper @outerground evaluation !! look out for an article soon
Thanks Outerground! Very glad you like the idea for this app. I'm following you now and looking forward to your review. Best regards!
We are all lucky to have such an exemplary one as you....
actually I just read this article in full. the app is really nice, simple. It had a bit of trouble updating the coin prices, initially but seems to have ironed out now. well done.
I do indeed have a few green ticks on this list. let's come back in 6 years !
one thing I must mention. You spoiled a really great article, with the hot chick who you now found out was an ugly fat blob. As well as being an incredibly poor metaphor, it's just not very nice and really took the edge off a good read by sounding a bit immature. I hope you don't take that the wrong way, but when you're an app developer (& I am a start up mentor, so it's just a bit of free advice,) it doesn't give your brand identity much kudos when you lower the tone. I mean, keep it professional and you've potentially got your own winner there.
Cool, thanks for the advise! English is not my first language so I know I sometimes sound harsh. In latin cultures fat shaming is not a cardinal sin like in the US, it's more of a joke where everyone, including the butt of the joke, laughs :) I tried to keep my article a bit humorous and light because the topic is serious and kind of complicated for most people. I'll be removing that part. regards
My pleasure. I think you have a great app and I wouldn't want people to be put off from using it. I hope it works out for you. The blockchain cannot easily be edited and your comments could come back to haunt you ! I'm glad you've edited it :) (I'm from Liverpool, UK) we also have a tradition of self deprecation and making fun.
interesting one.
Oh noooo. I can't get it from the apple app store and my computer says no. Does this only work on android devices?
For the moment it's only Android. I have a developer working on the IOs version but it takes time
Ah good. Can't wait. It won't load on my PC either. I'll keep my eye open for when you're IOs ready. :D
Nice post. I will try this app for sure... And become a whale one day :)
Thank for info