How I've bought the TOP 100 cryptocurrencies
I'm a big fan of cryptos. For more than a year I've been buying bitcoin regularly and watching the gradual rise of bitcoin price. Along with this, I also buy many altcoins, according to the recommendations or my own discretion. For the most part, I hold the Charles Holy Trinity - BTC, LTC, XMR and I definitely cannot complain about it.
A couple of days ago, my friend sent me a link to a case study article about the last year's TOP 100 cryptos and how they raised over the year. The profit of that portfolio really excited me and I found that idea ingenious and simple. I have immediately decided to repeat the entire strategy and buy TOP 100 cryptocurrencies, measured by their market cap at coinmarketcap.com.
My goal is to evaluate this portfolio during the year more than it will bitcoin do. In the aforementioned test of last year, it was successful. The entire portfolio did 1100% profit and Bitcoin did "only" about 351.95%. Thus, invested 10 000$ became 110 000$, which is certainly really interesting for everyone.
- Take 3 BTC to this test. Therefore, on one coin I will spentt 0.03 BTC, which is roughly 123$.
- Invest in TOP 100 cryptocurrencies on 15th August 2017
- Do a report every 15th of the month
- After a year, 15th August 2018, make an overall report
- So- my strategy was defined, then comes the analysis of coins at coinmarketcap.com.
I had to find out, which coins are in the TOP 100 and mainly on which exchanges they are being traded. I have compiled this excel table. The final number of stock exchanges, I will trade on, is 15, but the Jubi exchange is not useful for me because it is all in Chinese and they don't have English version. That is why I had to delete that one coin from TOP100, which si traded on Jubi. I have also erased the USD Tether, which is in parity with USD. So I added two more coins from positions 101 and 102.
Where to buy the altcoins
It was a great experience to register in a total of 14 stock exchanges on which I have the altcoins purchased.
After registration, I had to acclimate in the new environments and in the Excel define the number of BTC for each stock. So I started sending the BTC and then waited over the whole night until all the payments arrived at each of these exchanges.
And in te morning I was able to start shopping. I made orders and in the evening I checked if they were processed. Those which were not done I cancelled and entered them again with the new price. The next day in the morning everything was bought.
The whole process took me about 10 hours of pure time. If the altcoin portfolio evaluate by 1000%, then it will not be a totally inefficient time. :)
On this blog, I will post the status of my portfolio every month. I also count on the fact that some of the coins from the list do not have to exist a year later, or their value will be almost at zero, but it should be balanced by the superpowered stars, that are going to make hundreds or thousands of percent appreciation. We'll see. :)
To be continued.