After Tuesday's crash of cryptocurrency, did you HODL and buy more while the prices were very low, or panic sell? If you panic sold I bet you're kicking yourself now as the market steadily gets back to health.
I saw this as a huge opportunity and bought more, as I'm a born HODLER!
Apart from the obvious ETH, LTC, and Bitcoin, here's a list of the alt coins I bought or topped up, while the market was in free fall I scooped up some bargains.
BNB - Binance Coin. I'm investing in Binance as a business with this coin, one of my safest investments in my humble opinion.
NEO - China's first ever open source blockchain
TRX - Decentralized and aimed at the entertainment/gaming industry. Lots in the immediate pipeline. IOTA - IOTA could become the ultimate privacy coin.
SUB - The Substratum Network will bring the decentralized web worldwide without the need of special software for the average internet user
XRP - The world’s only enterprise blockchain solution for global payments.
NEBL - Allowing the instant & secure transmission of information worldwide
OMG - Lot's in the pipeline, huge contracts and solutions in place for Asian markets.
ETN - I've already featured Electroneum in the blog, this is going to be a big player due its aggressive marketing strategy, mobile mining experience, and ability to bring crypto to a wider audience.
QTUM - Aims to make decentralised blockchain technology easy to deploy for enterprises.
This isn't financial advice and please do your own due diligence, and I'm not trying to pump these coins. I did my own research, and these coins all have strong positives which I feel over the long term show potential for solid growth, which is what I look for when investing.
I'm constantly looking for more opportunities, and will keep this blog up to date, sharing my opinions on cryptocurrency investments.
If you visit https://www.coingecko.com/en and search for these coins, you can find out more about them. Each has taken a positive upward swing since Tuesday's drop. It's mostly a sea of green on the exchanges with everything now heading the right way.
Why do these drops occur that affect the markets so dramatically? Well apart from the fact we have many weak hands in the market who panic sell, rumours from Asia caused this one I understand, along with a few other factors. The crypto market is still in my opinion very much like the wild west, truly in its infancy in the grand scheme of things. You can without a doubt make huge gains, but you need to be able to take the swings.
If you can't handle the volatility of such a market, then if I were you I'd avoid trading crypto. If you're investing more than you can afford to lose, or an amount out of your comfort zone, then this will cause silly decisions like panic selling when you see a dip. Always invest money you can afford to lose.
Selling at a lower price than you bought will only lead to one thing, losses! If you hold, and you're in it for the long term holding good assets, you will come out ahead.
In every recorded instance of market drops, the people who've bought up at a bargain price have always come out on top. This is my mindset with crypto investing!
Incidentally Electroneum (ETN), weathered the storm very well, and is comfortably back on the rise. My 1200% growth from ICO now looks like 900% at time of publishing this post, which I can more than live with. As I previously mentioned with ETN, it's one to keep hold of for the future, and given it's a new coin I'm impressed with it's robustness during the biggest crash we've seen in the entire Cryptocurrency markets to date.
Part of this is due to the fact it's only being traded on Cryptopia, which is a very poor exchange. I've had nothing with issues trying to use Cryptopia, and the support is virtually none existent. I've had a support ticket waiting without reply for over 3 weeks now, this is truly unacceptable.
The exchange I bought the coins listed above, and the one I'd recommend using from my own experience is BINANCE. You can visit the site via this link and sign up, then transfer your Bitcoin or ETH to the exchange very quickly and easily.
I'd suggest transferring ETH, as I find this much quicker than Bitcoin. The is exchange is a joy to use, a great coin selection,and a lot of helpful video's on You Tube.
Electroneum do have more exchanges lined up, and a new one ready to be announced soon I've read, which can't come soon enough. I truly hope to see this coin on Binance and other reputable exchanges soon, as each time a coin reaches such an exchange the value booms.
Which leads me on to my final point before I wrap up today. Given Cryptopia is in my opinion an absolute shambles, I've decided to start mining ETN.
I know this is a daunting task for a lot of people, so I'll be recording a 'How to Mine Electroneum' step by step video walk through, and posting in the blog ideally later this week, along with my PC spec I'm using for this, and advised settings.
I've no intention of using Cryptopia again, so mining is my only way to own more ETN. By the end of this week my PC will be running overnight mining, and I can feedback the amount of success I have with this.
Considering the potential growth for ETN, mining as much as possible and top up my current wallet makes good sense, so if you're interested in this keep an eye out for this blog post later this week/early next.
To be continued....