Portfolio Management

Portfolio Management

By cryptojourney | crypto journey | 19 Apr 2020


Well, here we go yet another week has passed me by and what a week it was! I managed to great accomplishment during the last seven days. The first and most important I didn't strangle and customers while at work even though in a couple instances I really wanted too. I envisioned myself looking a bit like Homer squeezing Bart's neck and that helped a little in easing my issue with those panicking customers that couldn't get their grubby hands on sanitary wipes and the like. On a lighter note - I spent the latter part of this week to finish working on grouping my crypto assets into a more manageable fashion. I must say even though it took some time I feel that it was definitely time well spent after spending some Ethereum to do it. 

When I first started this project I really didn't know which wallets were my best option so I used a couple of them at first, but I soon realized one really important fact and this goes for all holders in our space. I'll sum it up in a single word; security. Why go to the effort to consolidate my assets? I want to spend less time on multiple platforms unless there is a clear reason to do so. However, I also wanted to know the coins and tokens that I own are truly mine and can't be used for other purposed other than my own. With this in mind I sought to push as much of what I own into either a single exchange or secure user-controlled wallet. 

A quick side note on this so you don't get the wrong idea, there are a couple of instances that I don't mind using a less secure wallet to send crypto to and that is for anything small like from faucet payouts. Why? I don't really want those being sent to Coinbase and getting mixed with my main portfolio. Second, those payouts are basically pocket change. Think of it like throwing you coins into a cup on your nightstand and when you have enough you go to the nearest Coinstar location and either get cash or a gift card with it. Only in this case when I get that pocket change I convert it to what I actually want and in this case either Ethereum or Bitcoin. The security of these assets is minimal since they are moved and converted within a few hours of them coming my way. No matter how you look at it that pocket change can add up little by little to boost positions to some degree or a cup of coffee.

Throughout this whole process, I found that setting up a means of seeing my portfolio all in one place made a huge difference. Unfortunately, I had to try out a couple of apps before I found one that I actually was both useful and easy to use. I ultimately settled on Blockfolio which will really help keep things far more simple from here on out to manage what I have and where it is without having to go to multiple places to see what I have and what the value of my assets are at a given time like during my lunch at work.

I will also be able to better track my profit/loss with each asset and better plan for what to buy and sell to keep a profitable position from here on. Out of curiosity I set up a second portfolio in Blockfolio to track my faucet earnings and their locations for ease of seeing what I will have coming into my chump change wallet. While not totally necessary its still sort of fun to see where those are at.

As promised once I got my portfolio fully sorted out I would post some details on what it looks like and should be better able to do that from now on in my main weekly posts. 

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I know that my total value is still on the small side, but you have to remember I only really got seriously into building my crypto assets about three months ago more or less. I have no illusions that it is a great set up, but most of these do have some profit potential and if some don't perform like I believe they will there be a time I will need to prune it. For now I see this as seeds for my crypto garden that I hope throughout the year waiting to see it blossom. I am starting to see growth both in investment and profit potential particularly over the last week. Which you can sort of see in the graph below. I know it is a little incomplete, but given a little time being properly tacked I hope to show better earnings with the next post. 

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crypto journey
crypto journey

This year I have started getting more into cryptocurrency than in years past. So I figured why not document my first real foray into the space now that I actually have some skin in the game.

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