To start out with , this is not financial advice just my story and what I am doing.
I started with on coinbase bitcoin in May last year buying in at about 1600 a coin. I made a bit of money not much but still a few thousand and I was happy with my first round. I put some of the profits in Ethereum and Lightcoin and some back to my bank account. The problem was I didnt know anything about the workings behind the currency or what ALT coins were or really anything. I decided to take a risk and it paid off. I left everything alone until about October 2017. This is when I started to get involved a lot more.
I started doing research and got an account on Binance. I decided to buy IOTA, Ripple and a few other coins like ADEX. Based on what I was seeing and going back to the year before I got the feeling Ethereum was going to be the big hit for 2018. Time will tell if I am right or not. One reason behind me having high hopes for Ethereum was I was annoyed how expensive and slow bitcoin was to move around with. The slow part didnt bother me near as the fees did. I though to myself this year a lot more people will do like I did and start to actually find out more about the coins and how they work. In my opinion this will make a lot more people choose Ethereum over Bitcoin. In Binance I found something interesting. The coins always seem to rise and fall. With this I came up with the next part of my crypto plan.
The current plan.
I keep a record of what I bought the ALT coins for. I then set a goal for what I want to profit off them. If it is 100% then once it rises and gets the 100% gain I sell half the coins and send than money over to Ethereum. The other coins are left in to wait and try to make another 100% gain.
Basically since Ethereum is my pick for 2018 I am trying to get as much as I can in that coin with profits from other coins. This way I can still get more coins without actually putting in a lot of extra cash this year.
FYI Steem is another 2018 pick of mine so I also send money over to Steem as well, just not as much as Ethereum.
This is my current plan and how I got here let me know what you think or if you want to share any ideas you may have.
It is an exciting new thing we all are in and anything can happen!
GOOD LUCK TO US ALL :)
