The Snack:
July marked the second month of investing in cryptocurrencies. Positions were added to in Bitcoin ($BTC) and ethereum ($ETH), and initialized in three additional cryptoassets: Bancor ($BNT), EOS ($EOS), and FunFair ($FUN). Net return after two months is 14.7%. Not bad for a generally down month.
The Entree:
Most of the month was spent waiting for opportunities. There had been quite a big run up last month and the selloffs, in bitcoin especially, began at the beginning of July. I watched the charts and waited for weeks for the right opportunity to buy. As luck would have it, I picked the bitcoin bottom almost exactly, only missing it by a percent or so.
With so many ICOs happening, it became quite the task to keep up on the news. Big shoutout to Omar, a.k.a. Crypt0, of crypt0snews.com and steemit.com/crypt0 for his regular updates, programs, and vlogs dealing with the crypto space. He has been a great source of information and ideas.
Steemit has been a great source for crypto dividends. Although I haven't been as active as I'd like, my posts and curation are still netting me maybe 1-2% in earned dividends each week, most of which I'm reinvesting in the platform. I did take the payout from one particularly well-paid post and buy .25 more DASH tho.
I used some leftover ETH to initiate positions in FUN and EOS, the latter of which is looking very promising, and is likely the position I will start adding to this month.
At of today, August 1st, approximately 90% of available capital is invested, with 10% sitting at the ready for the more pullbacks to add to current positions. I'm keeping an eye out for newcomers, but feel like I've built a good core and am primarily looking to add to existing postions at this point. BringIt :)
Current portfolio allocations:
- $VERI: 31%
- $BTC: 21%
- $ETH: 17%
- $LTC: 12%
- $STEEM: 11%
- $DASH: 6%
- $BNT: 1.6%
- $EOS: 1%
- $XRP: <1%
- $FUN: <1%
- $DGB: <1%
View original post at CryptoSnacks.com