STEEMIT CRYPTO ACADEMY |COURSE 7 BY @stream4u|MONEY MANAGEMENT AND PORTFOLIO MANAGEMENT HOMEWORK POST WEEK 7

I am @salma78, and I am very glad to write my homework post for prof @stream4u this week.

Before I dive into what money management is, I would like to briefly explain what money is. Money is a resource that is generally taken as payment for goods and services. Before one invest into any business, it is very necessary to know how to manage money.

source

WHAT IS MONEY MANAGEMENT?

Money management in crypto investment is the special strategy used by the trader to know how to invest his/her money into different crypto assets. The strategy teaches the trader when to buy certain cryptos and when not to buy those cryptos too.

MY FUTURE PLAN ON MONEY MANAGEMENT

My plan is to invest in cryptocuerrencies in the near future. And from this weeks’ lesson, I am planning to invest in 2 to 3 crypto assets in order to minimize risk and also increase profits. I also have plans of selling my STEEM rewards for other crypto assets such as Bitcoin (BTC), Ethereum (ETH) and others as well.

WHAT IS PORTFOLIO MANAGEMENT?

The software or platform that helps a crypto trader in tracking and monitoring the prices changes of the coins in which one has invested into is cryptocurrency portfolio.
In order for one to generate more income/ profit in his/her investment one needs to select an appropriate tool in controlling his/her crypto assets and process is termed as Portfolio Management.

HOW TO MANAGE YOUR CRYPTOCURRENCY PORTFOLIO

One can acquire good profits in his investments if the following points are taken into consideration before and when investing in cryptos.

1. Analyzing each cryptocurrrencies by studying its white paper.

2. Allocation of your portfolio

3. Investing in 2 to 3 crypto assets

4. Trading at the right time

5. Trading safely and secured

6. Plan for good entry and exit points

source

HOW TO CREATE YOUR PORTFOLIO

1. Open CoinMarketCap

2. Click on Portfolio
   

3. Click on add transactions

1. Choose the crypto currencies you wants to add in your portfolio

1. Enter the quantity

1. Click on Add Transaction to confrim

Unfortunately I don’t have any investment in crypto asssets currently, but wish to invest more into that as time goes on.

FUTURE PLAN ON MY PORTFOLIO MANAGEMENT

I have plan to invest much of my capital in cryptocurrency assets and in doing so, I plan to apply good money management by dividing my capital into 2 to 3 and invest in 2-3 assets. I also have the plan of putting up a good portfolio management before and after investing in crypto.

LAST FAILED INVESTMENT

I don’t have any failed investment currently.

CONCLUSION

I would say that money management and good portfolio management should be one of the first steps taken by any trader who wish to invest into cryptos by dividing their investment capital into 2 or 3 to acquire more profits. And also planning on when and how to trade is also one of the procedures which should be taken into consideration when trading.

Special Appreciations to;
@stream4u
@steemitblog