Hey all, I wanted to give you some updates on how it's been going for me since I started investing in crypto just over one year ago! As anyone who invested may know, everything is pretty down right now. Some of my friends had tens of thousands invested.
However, I still think things look great, mostly because I am receiving Ethereum in exchange for the space and electricity for a partner's mining rig, so I'm not losing money! But in all seriousness, likely some cryptocurrencies will appreciate again.
- I'm still bullish on Ethereum.
Yes, I know what you're thinking. Ethereum is 1/10 of the price it once was. However the biggest piece does not matter, the amount of sustainability and other people vested in it success in addition to how usable it is is what makes me believe that the price of Ethereum will likely go up again. I don't know what it will settle at at the end of the day, but I'm guessing more than now. I am not buying Ethereum. Or, maybe I should be buying some right now...
2.I continue to receive monthly Ethereum payments.
Many months ago my friends were mining Ethereum in there downtown apartment in Denver. When I stop by to see their place one day, I offered them to bring it to my office because number one electricity is included with my lease, and number two that way no one has to live with the machines making the somewhat loud White Noise. Ever since they moved the rigs in to the office, I have been paid almost half and Ethereum each month from them in to the office, I have been paid almost half and Ethereum each month from them.
This has been my biggest with 'with crypto' but really, it's just creative compensation in exchange for real estate. #notacryptomillionaire
3.Binance is Annoying.
I had a reminder in my calendar to see how my bind and portfolio was doing one year after I opened it. When I went to login my Google authenticator had some have been removed from the phone I now use today. I had to go through the longest process write them notes, handwritten notes, take videos of myself holding my license, and jump through other stupid hoops that were 10 times more aggressive and intrusive than any banking password reset I've ever had to go through. I did finally get logged in, so they're not a scam for me! But, if you have an account and you give up, then maybe you will never be able to access your coins again.
4.Coinbase
Like many of you, my interest in crypto currency greatly decreased when everything depreciated back to where it originally was in early 2018. However, Coinbase was the best app to stay in tune with some of the popular ones. Plus, that is where I was receiving payments from my partners in the mining rig. So I had to check it at least once per month to make sure payment came in.
Most months I considered the price to be pretty low so I've been holding onto most of the payments. This is what i have when I swipe to the left on my iPhone--Coinbase's great app shortcut.
Well, that's all for now! Oh, by the way, one of my contractors abroad requested to be paid in cryptocurrency which was the first request. That's kind of cool and if done on Coinbase there are no fees. Seeing as converting currencies, even with great new tools like Transferwise, has fees that is an appealing option!
Resources mentioned:
Binance - big crypto currency trading marketplace
Coinbase - US based mainstream crypto investing platform
Transferwise - best way to send online payments abroad, better than Western Union.
What do you guys think about the current climate of crypto? I'm not giving much attention to it right now, but usually this is when the future millionaire is.