It's been a couple of weeks since I last posted- this has been mainly due to work being insanely busy and the fact that I have been watching the market and reflecting- has crypto dad given up, thrown his crypto coins away and gone back to traditional investing? Read below to find out!
Like many people who invest regularly- pay day came and I transferred my monthly portion to the UK and to Coinbase Pro.and then bought my Bitcoin, ADA and XRP. I also got some extra ADA and transferred it to my Exodus wallet. I then converted the extra into BN, sent it to to my Trust wallet and got some NEXO tokens (I'll do a write up on what I'm doing on the NEXO exchange in a little while). Everything seemed normal and then the crashing started. After the first dip I managed to scrape another £100 together and bought some more BTC and ADA. I then tried the cake defi website- transferring about $60 dollar there to get the bonus and put it into a deposit to see what interest I could get. But of course the dip kept on happening and my portfolio started to get less and less.
Initially my portfolio was worth about £12,000 but as the market crashed it obviously became less and less. Currently it is worth about £8000 but to be honest I am not especially worried about the value of the portfolio at the moment. When I started I knew that this was going to be quite volatile at times and I know that my target end date of 2035 is a long way way away. There will be many dips and peaks. My main concern at the moment is how can I take advantage of the low prices that are currently around? I also need to think about whether I want to expand the coins I am invested in, what target amounts am I looking to have by the end of the year/ period of active investing. By this I mean I want to think about how many coins I want of each coin which I then just leave to gain interest and auto- compound. ADA is a prime example of a coin I am looking to stake and let build up, both in number and hopefully in value as well.
Currently I hold BTC, ADA, XRP and ETH. I also have a little NANO and BAN as I am now mining BAN and converting it to NANO using Folding at home. I also have a small amount of DEFI coins, and others like LTC which I am getting from faucets. My plan is to try and get some ALG and VET but I am open to any suggestions for other coins as well.
As to the amounts, that is more difficult. My original target was 0.3 BTC by December. With the current dip I may be able to achieve that a little quicker if it carries on for the next few paydays. I would love to have around 10,000 ADA and 10,000 XRP but I think these are very unlikely to achieve by the end of the year unless the price for these continue to fall dramatically or I come into some money. As for ETH I would like to try for 0.3 by the end of the year. Apart from actually buying these coins, I have my current portfolio all in interest bearing accounts at NEXO apart from the bulk of my BTC which is locked away and hard to get at. ADA is a currently staked in couple of pools and slowly building up as well. I use an old gaming laptop to mine BTC and also do the daily tasks at OKEX which earn me 250 satoshis a day. I also get about 20 satoshis a day with sMILES just for walking. These are small amounts but add up after a while. I also play with StormGain using the free mining to build up $10 stakes which I use to go long or short on coins. So far I have made $7 on this- again small but it will build up.
So that is the current situation I have about 5 more weeks and then I will be on holiday for a month or so. During this time I plan to work on my website, this blog and look for any other money making opportunities.
Please click here to the blog post with referral links to the websites I am using to make money. Any other suggestions/support would also be gratefully received.
If you found this useful or even a little entertaining please follow so you can find out when a new post is added to the blog. Feel free to tip, it is greatly appreciated! If you are interested in Meditation, Mental Health, Rest, Relaxation or Wellness please feel free to visit the website or subscribe to my YouTube channel (Any subscriptions, likes, comments or video views are greatly needed/ appreciated)
Relax, Meditate or Sleep Website
