Micro investing in the crypto-economy - Small budget? No worries says @beachbuminvestor
Hi Frothers,
With more and more of you investing in the crypto-economy for the first time, I thought it was important to give you a visual display of why you don't need to go big to do very well in this space. You can start with a relatively small amount and target modest profits. You don't have to target 10X on every coin to do very well in trading/investing in Bitcoin and Altcoins.
I am always invested quite heavily in my own projects, but a recent $20,000 loss on one of my startup businesses left me a little short of capital coming into investing in the crypto-economy. I had had some previous success in day-trading Fiats and commodities but did not enjoy the stomach-churning ride that inevitably ensues when playing with leveraged money.
I started approximately 2 months ago with AU$150. A modest amount that I would never have considered investing previously. After factoring in brokerage, it's simply not enough starting capital. But I quickly discovered that Bitcoin and the crypto-economy had leveled the playing-field.
Excel spreadsheet ( targeting 1% profit per day compounding) Day 1
A micro-investors dream. A platform/economy where brokerage was almost non-existent. The crypto-economy had given me a chance. I quickly began making 5% per day. Whilst $7.50 might not sound like much to get excited over, I'd like to give you a visuall display of compounding interest, and help you understand why I am very excited to be among the earliest 1% of people in the world to find this revolutionary form of investment.
Excel spreadsheet (targeting 1% profit per day compounding) Day 60 (Roughly today) I am well ahead of this target
Excel spreadsheet (targeting 1% profit per day compounding) Christmas (Not bad from AU$150)
Excel spreadsheet (targeting 1% profit per day compounding) 1 Year (Hang on a sec..... wasn't that $150 only a year ago?)
Yes it was! And proof that you don't need to start with huge bank or set ridiculous targets to make excellent money investing in the crypto-economy. Patience and research is as important in this game as the ammount of money you can bring to the table (unless you are super rich and can manipulate a market) lol.
If you try to get rich overnight you'll more than likely lose your capital. If you are patient, buy on the dips, and spend only what you can afford to say goodbye to....... you might just do very well investing in the crypto-economy over the next 3-5 years.
Stay stoked, keep frothing, and always remember...... an informed investor is a successful investor.
Fish @beachbuminvestor
Thanks alot for this useful information. God bless you
You're welcome @greatsam. Nice to hear from you.
Problem is investing 150AU per day and investing 5,000 or even 50,000 is not the same thing. Investing with high capital and with low is much different.
but the general idea is perfect: in this space you don't need big capital, which is really similar to the forex on the same way. Definitely we are not talking about equity :)
Very different indeed @cryptomraketer. For starters, I go surfing instead of vomiting every time there's a correction, lol. I much prefer Cryptos to Fiats, at least most currencies in the crypto-economy are increasing in relative or "real world" value. Thanks for your input
ahaha I couldn't have a better explanation of it! totally upvote for the perfect example!
Yes, I believe more projects are going to have proper real life application more the 'real world' value will increase and the entire economy will gain a sit at the table
I agree. I did some voluntary work for @encrypgen and the gene-chain being developed by the team has some amazing real world applications in the medical industry.
David and his team are running a contest giving away coins in Encrypgen. You should check it out. Could be some free stock in an ICO.
Looking forward to following your posts in the future.
Thanks for contributing to the dicussion.
Speak soon legend
Fish
Awesome! I didn't know about Encrypgen but I will totally take a look at it.
Let's see if I have a bit of luck and I'm able to gain some free tokens!
looking forward for your future posts as well!
good visualization of compound interest makes me want to do a day trading challenge, starting it something like £150 and aiming for a few % a day.
I'd be in @varah. I'm watching the markets anyway, any ideas on how we would run it?
Heya! I decided i would go ahead and do a bit of a challenge, it wont be too strict but the idea will be making daily trades for small % profit that will hopefully compound like yours.
Here is the post if you want to check it out.
https://steemit.com/cryptocurrency/@varah/cryptocurrency-trading-challenge-day-1-thb0-121136
It is more of a personally challenge but i think it would be really cool if we could get people to make the same type of posts and tag with with 'cryptochallenge'
Hi @varah. I'm happy to jump on your tag. Should I use it as my First Tag when posting for the challenge? Sounds like a bit of fun. Even if it's just us two for now.