Hello friends, today i am submitting homework task of week11 for
@yohan2on. I gained some user experience before submitting this task. It gives a good feel to learn and earn. All thanks to cryptoprofessors for their hardwork and art of lecture delivery. Special thanks to
@yohan2on. Here we go
Homework
Using an initial investment of $50, practically design your own cryptocurrency investment portfolio.
- Your Crypto portfolio should have 6 Cryptocurrencies and briefly explain why you have chosen to invest in each one of them.
- Use a Crypto wallet of your choice to hold your 6 cryptocurrencies.
- Wait for a day or 2days, then showcase the final results of your investment portfolio.
Use proper screenshots to showcase before and after. Is your total crypto portfolio in profits or losses? Which cryptocurrencies have increased in value and made you some profits? And which ones have declined in price value and made you some losses? Or have all of them made you profits? What’s the growth percentage of your Crypto trading portfolio after the 1 or 2days waiting period?
Crypto portfolio.
I have invested about 95$ in BTC, USDT, WIN, BTT, DOGE and TRX. I am using a very famous platform of my country, that is, WazirX.
Explain why you have chosen to invest in each one of them.
BTC
Bitcoin is my pet coin like all others. It is the main coin that i use for trade. Being mother of all crypto coins, it is far away in race from altcoins. It has potential of great profit in short time and reverse is true also.
TRX
Since integration of Steem and TRX, it has gained momentum in the market. Morever TRX can be used in many dApps like justlend to earn passive income. It is gaining popularity in market. Its price has pumped up by more than 500% percent after integration. So it is a good token to invest.
DOGE
DOGE coin has witnessed price hike recently but has now dipped down again a bit. So i expect it to show spike again. Although it is low prices coin, so profit won't be that great but has potential of being profitable in long term.
USDT.
While mentioning technique of portfolio designation in this week's lecture by professor
@yohan2on , two benefits of stable coin are mentioned. I have added USDT to stabilise my portfolio.
BTT
BTT is a potential token to invest as predicted by crypto professionals. It has pumped up many fold in last few months. Being low price, I'll keep it holded long. BTT is utilized by Dappe like torrent and file storage apps.
WIN
WIN is native token of WINK platform put in use in many DAPPS. Although it is low cost but its widespread use in dapps makes professionals think, it is having good future.
Results of investment
BTC - Gain 0.5%
I bought BTC worth Rs 7000 on 28 Apr. Now if i sell the same, i get 7034 INR. So a total profit of 34 indian rupees which account for 0.5% gain. It is small because my investment was small. Had i invested huge, i would have got more profit and so was more risk .
Before
After
USDT-- Gain 1.28%
I bought USDT worth 156 INR and now the same amount goes to 158 INR that equal gain of 1.28%
Before
After
TRX
I purchased 10 TRX for 94 INR and now i get 97 INR, a total gain of about 2.4%.
Before
After
BTT - 2.5% gain
I got 100 BTT worth 52.5 INR and now i get 53.7 INR that equals gain of 2.5%
Before
After
DOGE - 6.5% Gain
I got 5 DOGE coins for 105 sRs and now if i sell then I'll get 123 INR which equals a gain of 6.5%.
Before
After
WIN - Gain 1.8%
I bought 1000 WIN for 102 RS and if i sell now i get 104 Rs. A gain of 2 Rs that equals about 1.8% .
***
Before
After
Final words about portfolio.
Maximum percentage profit was earned by DOGE and minimum by BTC.
A net profit of 2.36% was earned at the end.
Be it small or large, all coins ended up in gain.
Although it is just a calculation, i haven't sold them yet. More profit is expected on holding.
Lessons Learnt
Investment in multiple coins is beneficial technique in crypto trading because crypto price is volatile. Aim is to mitigate the loss due to dip in price of any coin by other tokens in portfolio. Technically, this is known as diversification of portfolio.
Don't go for panic selling on dip of Price. Keep holding because price has to come up again. And than go for strategic selling.
No coin is good or bad. It depends upon, how well you can handle them that determines loss or gain.
Thanks.
Hi @magmuz
Thanks for participating in the Steemit Crypto Academy
Feedback
Fairly done! The presentation of your results lacked some bit of creativity. Otherwise thanks for the effort and Congratulations on your 2.3% net profit.
Homework task
6
Thank you sir. I'll try to do better in future.