How to maximize your cryptocurrency profits. #1steemCreated with Sketch.

in #cryptocurrency7 years ago

So if you are a guy who is like blockchain ye ye crypto currency yeye and do not know anything besides the fact that it makes me money then this post is for you.

Okay so let's get down to business lets say you invest $100 into crypto or if you are a high roller maybe even $1000.

So here is the plan to maximize your profits with minimum risk.

The Crypto Investors 10 commandments

#1 Do not mess around with day trades.
#2 Though show not sell when the market drops 20%
#3 You will not fall in love with only one coin.
#4 You will not keep your wallet on a device or computer that you watch porn on.
#5 You will have a copy of your private keys on a paper and on a pen drive. (more details about this if you ask me nicely)
#6 You will not make decisions based on emotional influence.
#7 You will improve your safety every time you have a chance to do so.
#8 Invest every month an amount you do not care that you would lose like 5-10% of your earnings.
#9 Diversity is your friend.
#10 BUY AND HOLD and maybe forget about it and see how it is doing in 5 years.

Okay, lets get down to business.

Register on Coinbase and buy Cryptos, okay I assume considering that you are on Steemit you have some Cryptos.


Download the Exodus wallet here: https://www.exodus.io/

Wow, it was very difficult so far damm.

Now you are going to diversify your portfolio:
Ah, I know you have heard about this before, but has anyone told you how you should be doing this?
Yeah, they say hold multiple coins not just Bitcoin.
However, has anyone told you how much you should be holding?

Math is your friend. If you don't like Math than being poor and homeless could become your new best friend.

It is 2017 September 8 when I am posting this so the data will be analyzed according to that.
The total market cap is:
$160 720 677 480
Ill be laughing to see this is 2020 and 2030 haha.
Market Cap (24hour volume/marketcap)% Market cap Dominance
Bitcoin $75,112,448,357 24h volume $1,563,980,000 2,08 46,8%
Ethereum $29,818,116,808 24h volume $536,787,000 1,80 18,1%
Litecoin $3,794,833,692 24h volume $386,701,000 10,19 2,3%
Dash $2,619,432,930 24h volume $44,450,200 1,69 1,6%

So there are two approaches:
1, 67,9% of the market cap is now under your control. So depending on how the Coinmarketcap moves that is how your investments will grow or fall.

market cap.png

So from the $100 for $1000 times is by 10.
You do the following
100/68= 1,47

Bitcoin 1,4746,8 = ~$68
Ethereum 1,47
18,1= ~$25
Litecoin 1,472,3 = ~$4
Dash 1,47
1,6 = ~$3

2

You will purchase based on the relative volume of the coin
15,76%
(x/ 15,76)*100%
Bitcoin 2,08 ~13% $13
Ethereum 1,8 ~11% $11
Litecoin 10,19 ~65% $65
Dash 1,69 ~11% $11

Okay here are the two methods to diversify your coins.
Oh but wait which one do I use.

Oh, I guess if you are actually reading this post you deserve the way I did it.

So you weigh the total market cap with the relative volume of each coin.
1/3 relative volume 2/3 total market cap

Bitcoin $131/3+$682/3 = $49,6 ~$50
Ethereum $111/3 +$252/3= $20,3 ~$20
Litecoin $651/3+ $42/3= $24,3 ~$24
Dash $111/3+ $32/3= $5,6 ~$6

Alternatively, you can just invest in Iconomi and they will gladly take your money for a 3% fee.
https://www.iconomi.net/

If you have questions please leave it in the comments.
Also I will write a follow-up post going into more detail.

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