Crypto Academy Week 11 - Homework Post for @yohan2on

In this post, I am here to submit my S2 Homework Task 3 which I have carried out as required by @yohan2on.

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

As we all know that Crypto Currency is highly volatile and has no stable price. So whenever you invest in any crypto currency, you need to make a good prediction about its upcoming price. For the above question I have chosen 6 Cryptocurrencies.

• TRX
• XRP
• DOCK
• STEEM
• DOGE
• NANO

Why I chosen TRX?

TRX is worth investing coin. This allows the investor to earn passive income. I have chosen this in my portfolio so that I can use it in small transactions. It has low transaction cost. And its network is sequre and faster as well. However, its price is very small. It has pumped more than 550% in the last six months. And now it is about 60% dropped. So it can be a good investment for me. It may break its ATH in the coming years.

Why I chosen XRP?

Investing on XRP is my main priority. I have included it in my portfolio so that I can make a good profit. Its market condition is still very high. Recently XRP was pumped up to $1.92. And it went down by about 50%. I bought it at $1.18. This is the best one to invest in. XRP is great for long-term investment. It is going to go up even more in the coming times! Its transaction takes place in a few seconds which is real time sattlement.

Why I chosen DOCK?

Dock is a decentralized exchange protocol works on blockchain. DOCK launched its token as ICO in 2018 with a total supply of 1 billion which raised to $20 million. However, The DOCK token is not listed on most exchanges and is not as popular as TRX. But it has resurfaced after dropped in April 2019. I have selected it because it is of low price like TRX. It can be used for small transactions. We can invest in short-term and long-term.

Why I chosen Steem?

Investing in Steem was another main priority for me. More recently, it has pumped up to $1.35 and dropped back to $0.60. I bought it for $ 0.84. It will go up in the coming times. If I have patience, I can make a good Profit from it. That's why I have chosen Steem in my portfolio.

Why I chose DOGE?

Seeing the popularity of DOGE Coin in recent times, I have included it in my Portfolio. I bought it at $0.26. its price has skyrocketed in the past few times. But it has just dropped. I have chosen it for a long term investment. If you invest in this coin then you have to be patient. You will definitely earn a decent profit.

Why I chosen NANO?

However, NANO has dropped nearly 76% from its ATH. But looking at its price movements right now, it will be back to its ATH in the coming times. It is a long-term investment. I bought it at $13.6. IT has given me the lowest profit. If I keep it long-term then I will make a good profit.

Q. Use a Crypto wallet of your choice to hold your 6 cryptocurrencies.

There are many Crypto Wallets for each exchange. As I have used Huobi Global exchange to design my portfolio. So I am using ProfitHuobi wallet for holding/tracking my currency. This wallet is available for Android.

You can simply set-up this wallet by connecting to your Huobi Exchange account using the API Key. You can easily trade, track your coins.

Steps to connect Houbi Exchange to this wallet using API key :

• Visit https://www.huobi.com/en-us/ & Login to your Huobi Account.
• Go to Account => API Management
• Set a description at Notes field => Tick on Withdrawal/Trade => Click on Create
• Fillup the validation codes sent to your email & phone (Sequrity Authentication) => Click on confirm
• Now API keys are successfully created. Copy Access key & Secret key.

• Now Go to ProfitHuobi Wallet Settings
• Enter your API keys ( Access & Secret )
• You are done! ( Successfully Connected )
• Check your Holdings.

^{ProfitHuobi Successfully Connected using API | My Holdings}

You can easily trake, trade, invest, withdraw your cryptocurrency through this crypto wallet, Try it Or you can simply use Huobi Wallet.

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

I have invested $60 to design my portfolio and have invested $10 each in 6 cryptocurrencies (TRX, XRP, DOCK, STEEM, DOGE, NANO) on 26th of April, 2021 nearly at 4 PM. And the closing price of all cryptocurrencies is the mention/given in the picture below. You can check transaction details for 6 coins I have invested.

^{Transaction details of all coins | Date, Time, Invested amount ($10), Closing Price for each, Amount filled.}

After waiting for 1 day : My portfolio increased by 12.97% overall and I made a profit of about $7.78. However, I did not incur any loss in any coin but I had the lowest profit in NENO.

^{My Portfolio | Before & After}

Q. Use proper screenshots to showcase before and after. Is your total crypto portfolio in profits or losses? Which cryptocurrencies have increased in value and made you some profits? And which ones have declined in price value and made you some losses? Or have all of them made you profits? What’s the growth percentage of your Crypto trading portfolio after the 1 or 2days waiting period?

I have invested $60 to design my portfolio and have invested $10 each in 6 coins. So Before answering the above questions, let's have a look at my portfolio once.

TRX :

I invested $10 in TRX and after a 24-hour wait, its price increased to $11.40. So in 24 hours, I made a profit of $1.40 from TRX, which was equal to 14% of the amount of the investment.

XRP :

I invested $10 in XRP and after a 24-hour wait, its price increased to $12.3. So in 24 hours, I made a profit of $2.3 from XRP, which was equal to 23% of the amount of the investment.

DOCK :

I invested $10 in DOCK and after a 24-hour wait, its price increased to $12.07. So in 24 hours, I made a profit of $2.07 from DOCK, which was equal to 20.7% of the amount of the investment.

STEEM :

I invested $10 in STEEM and after a 24-hour wait, its price increased to $11.02. So in 24 hours, I made a profit of $1.02 from STEEM, which was equal to 10.2% of the amount of the investment.

DOCK :

I invested $10 in DOGE and after a 24-hour wait, its price increased to $10.52. So in 24 hours, I made a profit of $0.52 from DOGE, which was equal to 5.20% of the amount of the investment.

NENO :

I invested $10 in NENO and after a 24-hour wait, its price increased to $10.47. So in 24 hours, I made a profit of $0.47 from NENO, which was equal to 4.70% of the amount of the investment.

Answer :

You can see the before and after screenshots of my portfolio in the pictures above. My total crypto portfolio has increased by 12.97% of the amount I invested. I earned about $7.8 from all coins after 24 hours. I did not incure any loss from any coin, rather I made profit from all the coins. However comparing all, I had the highest profit in XRP and the lowest profit in NENO.

Growth percentage : Appx. 13% ( 12.97% )
Total Earning/Profit : $7.8

Conclusion : Like I prediction about the price on 6 coins. All coins lived up to that prediction. But I am unhappy with DOGE Coin. Anyways, The portfolio designed by me made good profit in 24 hours.

^{( All photos are edited by me using Canva & the charts is created by Chart Maker App )}

Thank You

Cc-
@steemitblog
@yohan2on