Crypto Academy Week 11 - Homework Post for Prof @yohan2on by @blessingkasabe

in SteemitCryptoAcademy3 years ago (edited)

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Dear Steemians,
I am glad to be part of this week's lesson. I thank professor @yohan2on for giving us this excellent lecture on designing a Cryptocurrency Investment portfolio.
In his lecture, Professor @yohan2on talked a lot about the need for a portfolio, maximize our gains, some factors to consider when designing a portfolio, and many other things.
After going through the notes and researching this week's topic, I have decided to review what I have learned in my homework task.

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1. Your Crypto portfolio should have 6 Cryptocurrencies and briefly explain why you have chosen to invest in each one of them.

Out of the many cryptocurrencies available in the market, my selected six are BNB, TRX, DASH, BTC, ETH, XRP.
Below is a brief reason why I chose these cryptocurrencies out of the many on the market.

  • Binance Coin(BNB)

BNB is a token on the Binance exchange; BNB is one of the rising Tokens currently. It has almost 25% from all-time high as compared to most crypto tokens. BNB has emerged to be the third coin on the market in terms of the market price.

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As of 27th April 2021 at 2 pm, the BNB market price stands at $568.13 with a 24-hour trading volume of $3,802,130,993.
BNB is up 5.32% in the last 24 hours. It also has a coin market cap of $87,169,854,120. It also has153,432,897 BNB supply in circulation. BNB has its all-time high supply of 170,532,785.

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This indicates that BNB has a high potential to become the leading cryptocurrency.

  • Tron(TRX)

TRX was launched in 2017 on the Ethereum blockchain network before moving to its independent blockchain.TRON blockchain-based operating system, which focuses on ensuring the blockchain technology is accessible for everyone to use. TRX is ranked 19th on coinmarketcap.

TRX has the highest transaction per second as compared to the other cryptocurrencies. Ethereum up to handle up to 25 transactions per second, whereas BTC has up to 25. TRON network has a capacity of 2,000 TPS 24/7.

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Today, the market price of TRX is $0.1262, Market Cap of $9,054,865,041, Daily 24h Volume of $3,086,919,353 and has a Circulating Supply of 71,659,657,369 TRX.

TRX has also been seen rising; this also makes it potential to increase in value in the coming days

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  • DASH

Digital Cash(DASH) is a digital currency, and an open-source blockchain focused on offering a decentralized network that is fast and cheap for payments. DASH was launched in January 2014 Litecoin to improve upon (BTC) by providing very secure privacy and quicker transactions.

Today, the Dash price is $287.49 with a 24-hour trading volume of $662,470,821. Dash has risen to 4.63% in the last 24 hours. Dash has a market cap of $2,903,078,889 USD.and a circulating supply of 10,098,066 DASHand.
It has its total supply of 18,900,000 DASH coins. DASH has a current CoinMarketCap ranking of 50.

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DASH has been seen increasing

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  • BTC
    BTC is a peer-to-peer digital currency transaction. BTC transaction does not need any third party for the transactions to be complete as a decentered system, meaning that all transactions happen directly between the two parties involved.
    BTC still remains on top of the crypto market after over a decade of its existence. The SHA-2 family of hashing algorithms Uses the SHA-256 algorithm to secure the Bitcoin.

Today, BTC has a market price of $54,953.57 with a 24-hour trading volume of $51,191,466,498. BTC is ranked 1st on CoinMarketCap and with $1,027,226,477,646 USD as its marketcap
BTC has a max Supply of 21,000,000 BTC coins and a circulating supply of 18,692,625 BTC.

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BTC has been rising after it fell late this month

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  • ETH

ETH is a digital coin that uses the Ethereum blockchain, which is a decentralized system.
The core objective of ETH is to make it possible for users from all around the world to write and run their software that does not involve censorship, downtime, and fraud.

ETH price for today, 27th April 2021, is $2,563.23 with a 24-hour trading volume of $29,762,664,551. The is an increase in Ethereum by 2.59% in the last 24 hours. ETH is ranked 2nd on CoinMarketCap.
With a market cap of $296,413,512,191 USD and 115,640,496 ETH coins in circulations.

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ETH has been rising recently

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  • XRP

XRP is a digital currency that uses RippleNet for digital payments. XRP was known as Opencoin, which was voiced in 2014 by Ryan Fugger. Today, 27th April20121 2 pm, XRP has a market price of $1.38 with $15,888,258,356 as 24-hour trading volume. In the last 24 hours, XRP has increased by 9.00%. XRP is ranked 4th on CoinMarketCap.
It has a market cap of $62,674,806,604 USD, 45,404,028,640 XRP coins incirculation and a total supply of 100,000,000,000 XRP coins.

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XRP has declined within the last part of this month, which has started rising.

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The above-provided information shows that those selected digital currencies have great potential to rise in the future, so investing in them is not a mistake

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2. Use a Crypto wallet of your choice to hold your six cryptocurrencies.

I have created my crypto wallet on Binance not long ago, and I don't have enough funds in it. To show that I understand the lecture, I am using the "eToro demo account" for the illustrations.

A created verified account is needed for one to use eToro to set his or her portfolio.

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My etoro account is showing my username and my empty portfolio.

2. Wait for a day or 2days, then showcase the final results of your investment portfolio.

  • I bought 0.04 units of BNB, which costs me $25. The date, time, and other relevant of the for the purchase is shown below,

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  • I bought 202.05 units of TRX for $25.6.

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  • I bought 0.1DASH for $30

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  • I bout 0.000724units of BTC for $40, so far the highest invested

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  • Bought 0.1units of ETH for $25

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  • Bought 24.73units of XRP for $35

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Below is the overall data of my portfolio

  • The total amount invested is $180.6
  • The units bought and the amount invested in each currency is shown below; other relevant information can also be seen below.

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Results after 24hours
Out of my selected coins, it was only ETH which increased by 1.12%. The rest didn't perform hence decreased.
My overall portfolio decreased by 3.01% which is almost $5.44.

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Summary of my investment in each coin.

I invested 180.6 in all the 6coins to design my portfolio, which I invested a specific amount in each coin.

Below is the breakdown of the outcome of my investment after 24hours.

  • BNB
    I invested $25 in BNB which decreased to $24.11 after the 24hours period and after a 24-hour. I made a loss of 3.56% which is $0.89.

  • BTC
    I invested the highest amount in BTC which is $40. after a 24-hour the price decreased to $39.44. Which accounts for a 1.4% loss which is $0.56

  • ETH
    I invested $25 in ETH and the price increased to $25.28 within the 24hour period. This gives me a profit of 1.11%, which is $0.28

  • XRP
    An amount of $35 was invested in XRP. After waiting for 24hours the price decreased to $32.79. This made me lose 6.34% of the amount invested, i.e $2.21

  • DASH
    I invested $30 in DASH, which gave me a 2.04% decreased in price within 24hours. This loss accounts for $0.61

  • TRX
    $25 was invested in TRX, which gave me a 5.65% decrease in price within 24hours. So I loss $1.45

General Comment

  • My portfolio decreased by 1.12% within 24hours of time. This has made me lose $5.44 of the total amount invested.

  • Although ETH did increase, the rest decreased, this is due to the current fall in the market price of the various coins.
    Some of these coins will have done better if given some time to rise.

Conclusion

I thank professor @yohan2on for this wonderful lecture.
At least I now know how to prepare my portfolio taking into account many factors.
Even though I didn't make a profit within that shortest time, but I still have great conviction in my selected coins because of the provided information above.
That information clearly shows they have great potential to rise.

All the screenshots used for the illustration was taken by me

Thank you for reading

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Hi @blessingkasabe

Thanks for participating in the Steemit Crypto Academy

Feedback

Reasons for your 6 selected CryptocurrenciesScreenshots/evidencePresentation of the results
3/33/32/4

This is good content. Well done with the designing of your Cryptocurrency Investment portfolio. Sorry for that loss from your virtual account. I think, if you could hold those coins for more other days, they would likely generate some profits for you.

Homework task
8

 3 years ago 

Thank you professor for reviewing my work

BNB, TRX, DASH, BTC, ETH, XRP.

Good coin selection. But all your selected coins are in High Cap Coins. Very less risk coins but for getting good returns need to wait long time.

Nice presentation from you. Take care .

 3 years ago 

very true.

Thank you for the comment.

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