The Beginning of Experience Growth
My journey on the crypto market started around May this year, which is not that long of a time, but in the world of cryptos it definitely is long, considering at this point BTC was at $1.500 a piece.
Since I had no money myself (just got my new bike and I am not earning that much to save) I tried myself out on an app called "Best Brokers" which is kind of a game where you receive fictional 25k dollars for you to invest in the stock market, to see how you do. By now I brought this up by 8k mainly because of the cryptos I bought in May and later.
As you can see, I did make a lot of fictional money. 😅
Still, from that "game" I learned a lot!
- Your money will not grow from today to tomorrow
- Think about what you buy, what you think will increase the most
- To define what increases the most, read. Get informed. Get your facts.
- The key thing I learned was this: Decide.
You can go along all day or week reading and reading. Every day somebody will say "Invest in this! Invest in that!" but at some point you just have to take the risk and put your money in. You won't earn anything, if you don't take a risk. Same way as in life. You need to put in something first, to receive something.
With that in mind, I started using real money and buying real crypts instead of fictional ones.
Real Talk
Where did I start?
I started with Ethereum. At that point I think it was at around 220€ a piece and I bought around .4 ETH, transferred it to Kraken.com (my exchange of choice) and started looking.
I let that one sit for a while and the Monero started going up and I though "May be an opportunity to make some quick cash".
Said. Done.
Switched all my ETH to Monero and got around 1.3 Monero, when it was at about 60€. 2 hours later 80€.
BOOM!
Quick 133% Return of Investment! "Awesome!" I thought. "I wanna make more" So I kept the Monero for one more day, and it went down to 50 again that day.
What I learned: Cryptos are a good investment, yet contain a high risk when you are looking for a short term investment.
Long Term, I'd say is the big gain!
Just look a t Bitcoin, Monero, Ethereum. All of them have a 4-digit increase in value (percentage-wise) in less than a year.
And this will keep going.
Status Quo & Ripple
As of right now I am owning parts of one BTC as well as some Ripple. My long term interest for about 2 month of holding cryptos is around 12% ±5% from day to day. However the coins are feeling .😁
Ripple is the one I want to focus on a bit on right here:
Ripple (XRP) is a network/currency which is based on the idea of Ryan Fugger and was developed by the Ripple Labs.
It supports all main currencies (fiat) like Euro, Dollar, Yen etc.
Its sole purpose it to revolutionize the banking market.
As well as Bitcoin and other cryptos Ripple is based on the blockchain technology (of course!) and aimed at the transfers between banks. Also it is an open-source project, so there are many people contributing to the further development of this revolution of the financial market.
Basically it is the 'transfer currency' for banks. You can put whatever currency you want into some XRP and transfer it within seconds. Especially this is the big advantage of ripple. You can exchange any amount of money and pay nearly no exchange fee or anything that generates costs at all for the transferring progress. The only fees that are actually applied are the transaction fees which are practically neglectable (for a 100XRP transaction you pay around .01 XRP as a fee). Yet the fees, that are onto any transaction in the ripple network destroy a small amount of ripple every time a transaction is completed, making it only more valuable the more transactions are done through this network.
The maximum supply of ripple is around 100 billion XRP. Ripple Labs intends to keep 25 Billion of their XRP and distribute about 55 Billion XRP to the market. As of now there are 7.2 billion XRP in the market, as they were given out to different projects.
Right now Ripple is at about 20ct/XRP with a market cap of $9,214,495,191.
For more information just head over to https://ripple.com and read about the opportunity yourself!
My guess is, that ripple will keep growing over time. Maybe not tomorrow or next week but next year I expect the price to reach about 1€ a piece and more growth coming.
I just covered what I consider to be the basics to get you guys interested in the topic and maybe start some discussions here, whether I am wrong here or the genius I don't think I am.