Finally have a full day off from work which of course means it's time to get things in gear crypto wise. It has been a crazy week so far with the markets as a whole not just within cryptos. I have seen this before but never really thought about it a whole lot until recently since the other investments that I have within the stock market are pretty stable and are managed by an investment firm. I know, what exactly does this have to do with my crypto project? More than you might think on a surface level. Blue Chip stock in many ways are like the stable coins in that their value stays relatively stable with a decent dividend ROI if you have enough stock being held in you portfolio.

This has gotten me to thinking about how I should evaluate my crypto as a long term investment project. I do not mind some volatility that is to be expected with any investment within the crypto market. When coupled with really getting down to the actual management of my holding is something that I am learning in the process here so forgive me if my current portfolio seems a little wild at times.

After my Week 3 post went live I received a comment that I feel requires a full on post to help explain the idea behind some of the coins that I have chosen to buy and/or hold on to. Some of the holding that are more recent may make a little more sense than the first couple coins I chose to add into my portfolio. Due to the nature of this post it may be a bit long, but it may be interesting for some of you veterans out there to see the thoughts behind a rookie in the space with literally a month under his belt. However, there is going to be one caveat to this post I may leave out one or more coin and/or token since they are totally junk and were received at no expense.

First, I will explain why there are two items in particular list among the assets and those being Storm and Doge. The easiest way to put it in the case of the Doge which I have nothing against as a coin in of it self. I had been playing around with a faucet that gave me some Doge among other coins and for whatever reason I dumped everything in on the Doge so as to be able to withdraw my gains easier. It was probably a day or two later when I realized how incredibly dumb that was. it's okay you can laugh at that if you like. I learned my lesson quickly when I realized I am either stuck with those coins of little value or may chose to gain a few more so I can convert them to what I should have kept from my faucet gains in the first place. At minimum I'll need one thousand Doge to do that. Until then they are stuck as primarily useless asset.

Now, in the case of the Storm tokens I had them from the StormX app and simply just decided to clear it out since I really don't use it that much. If I had been smart and had not messed up my Coinbase account I probably would have taken them as Ether instead. As of this morning and a month of dealing with customer support on and off all month long I finally have access to my account again. I am happy that support team was able to fully restore everything and can now use Coinbase for certain holdings that I can not on Uphold's platform. I will be using both from here on out for ease of some transactions that each do well with. 

In my prior post you may have noticed I have also chosen some coins that seem to surprise many of you that have been reading my blog over the last month. Why choose XRP over say BTC? Yes, I am very aware of the major price per coin differential. When I started this project in earnest twenty-eight days ago my starting capital was extremely limited and to a degree it still is. That is not suggesting that I will not get or buy some BTC in the coming weeks. That being said thee are two reasons that factored into why I chose XRP as my first major token to invest into.

First, there is a significant use case for XRP inside of the banking and monetary liquidity sector. Ripple's product makes it easier, faster and cheaper for banks to send fiat from point A to point B. Some of you are familiar with remittances and how the companies that do them operate. There are fees attached to doing wire transfers and a certain percentage of your total sent takes a hit in the process. This leads me to the second token listed, Stellar Lumens, they are Ripple's main competitor in the same space and does essentially the same thing. So why invest in a competing coin? Simple, if their service to banking takes off even though the value of the Stellar is a fraction of that of XRP the total profitability is much greater with less of my capital spent.

The final token in this group is Ox and there are two reasons as to why this one was chosen. First is the use case of easier P2P transactions that are becoming more common inside of the field of blockchain based games. Some of you are aware that many of these games make it possible to own an item with actual tangible value or art that are NFTs giving these types off assets exchange functionality through the oX Protocol. The other reason for this particular token is that it seems for whatever reason to almost track along with the value of XRP. I am not sure if that is a good or bad thing, but for me personally, it does help simplify things a little as to decide when to eventually trade it.

Since XRP, Stallar, and oX are all tokens built on the Ethereum chain my thought process behind acquiring them is perhaps simpler than you may expect. I see XRP and oX in particular to be mid term holds and when it is time to take profit from them converting any these three into Ether will the be the plan with much less cost to do so.

I know this is getting a little long and looking a lot more like an essay. But, I believe if nothing else it is helping me think through some things that have been bouncing around in my thoughts and get a clearer big picture plan for the project. With that in mind please bear that in mind as we go through a few more coins and tokens that I have mentioned throughout this month. I would be remiss if I did not mention BAT since I have gotten some over the last month from both here and will be getting some from the Brave browser in the next week. As you are probably aware I have not purchased these and do not plan to. BAT is just a nice end result of doing things I already do on a regular basis. Like with the other tokens I can freely chose to turn them into Ether or just hold them until the time is right to exchange. I have tried it already just to see what I gain or lose in the process for doing so. I found the cost of exchange to be both easy and lighter on expense than expected.

Okay, moving on to two coins that I have for the same exact reason. Those being Litecoin and Bitcoin Cash. Both of these I have exclusively gained through faucets and admit fully that their accumulation while limited to a degree hold a function. As you know up to this point I have not added any BTC to my assets even though I plan on doing so. At the end of each month whatever I have in these wallets will be converted to a higher value coin such as BTC even if the total value is small at first. Given that this project is going to go through a full year I believe there is potential that can be unlocked using smaller assets to gain more valuable ones. Much the same way the tokens will filter into my Ether. 

Finally I want to address something that is part of the plan that has not been mentioned once this entire month. This relates directly with the issue I have had to deal with regarding Coinbase. I have had assets there during this time, however, I was not able to access them until this morning to be exact. It did not feel right to list them among those coins and tokens until I had full access to them again even though they were technically there. On their platform I hold Tezos which are staked and USDC. Going forward in the main weekly posts they will be added to the total assets listed as will any other coin or token that is brought into the portfolio. As well as if those holdings hold a specific purpose for the overall project in a more clear manner than I have done prior. 

I hope that this overly long post helps show what I have in mind and why certain coins and tokens are within my portfolio. I know that a lot of you probably questioned some of the holdings over the last three weeks. Being new to crypto and a rookie in the space there is a lot to take in and I know there is yet much to learn ahead of me throughout this venture. There will be fails and I am okay with that if that is what it take to learn what I need to. If in the process I can help those learning like I am and learn from many of you here that is even better for the long term of this project. If you made it to the end of this post thank you for taking the time. I truly value what I have learned up to this point through many of the posts here and look forward to an fun and different breed of assets than I have previously dealt with prior to now.