Hello guys,
Today, I made my first profit on Coinbase. For this, I have to thank again, to my friend, Paul, for introducing me to this app: Coinbase. It all started a few months ago when he first introduced me the idea of exploring a new domain: crypto. He convinced me to invest, not just my money, but also my spare time (which is not enough anyway) in this new hobby. So, he gave me his referral link and I registered a new account on Coinbase.
So, on the 8th of November 2020, I decided to buy some Ripple/ XRP. After long thoughts, I concluded that 50EUR should be enough for a start. After Coinbase took its share of 1.99EUR, I only got 48,01EUR left to buy XRP. A deal is a deal so I got a total amount of 222,398251 XRP.
This first transaction of mine represented the start of a multi-daily checks on Coinbase to see how much XRP went up or down. Seeing that the last couple of days the price of XRP was going up I decided it's time to test how Coinbase transactions work. So, I sold my entire XRP portfolio for 122,46EUR (of course, Coinbase took its share again of 2,99EUR this time - because why not?! more money traded, bigger fees). At a simple calculation, I made 72,46EUR profit. In other words, 16 days of doing nothing (not even getting nervous or having some sort of emotions) brought me 71,46EUR. What if I had invested $100, $200 or even $1K?! Nice figures indeed!
At this point, I was really thinking what should I buy with this money? I'm a big fan of video games (I even own a console) and mostly, of the Assassin's Creed series, so it crossed my mind that I could buy the new Assassin's Creed Valhalla, which is quite pricy now. But, still, being new in this adventure, I decided to rebuy XRP in the exchange of the entire amount of 122,46EUR (actually it was 119,47EUR, because Coinbase again took its share of 2,99EUR). Anyway, I still got some profit because now I have 20 XRP more. Still a success!
Conclusion:
1. It's a bit annoying and frustrating why when I sold my XRP, the amount went into my EUR Wallet and not directly into my bank account, as it happened, but it the opposite direction, when I first bought the XRP. To actually withdraw my money into my bank account, Coinbase asks for another fee (another one!!!!).
2. Coinbase already ripped me off (or better said I enriched Coinbase) with 7,97EUR. It's quite a lot of money for small amounts. For bigger amounts, the fees are huge.
3. Doing this, I decided to do the same with my Stellar Lumens. Now, I sold them and I'm waiting for the price to go down in order to rebuy.
P.S. I still cannot earn on Coinbase. I joined the waiting list for MKR, CGLD, COMP, XLM, ALGO, KNC, EOS, ZEC and XTZ. For the rest, "Sorry all has been claimed!!.
P.P.S. I still bought Assassin's Creed Valhalla. Now it's time to play.
See you soon!
My successful faucets!
PipeFlare & Hive ZCash - ZEC with tier 4 referral program
FreeCryptos: (DASH), (TRX), (ETH), (Cardano), (BNB), (LINK), (NEO) & (BTC)
