Preface
As always I would like to start this article by saying this is NOT investment advice so PLEASE PLEASE PLEASE do your research. Any gains or losses have nothing to do with me and everything to do with you so again please do your research!
Also like any investment only invest what you can afford to lose! Crypto is still so new and I have no idea what the future may hold for it in terms of how my country sees it legality in the future. So I do convince myself every month with the same mantra of once I have invested my cash into crypto it is gone I now have cryptocurrency in its place.
I am just an IT guy that loves cryptocurrency. My articles simply share what I have invested in and I will on many occasions go on a rant or share my thoughts. I do not day trade (I simply don’t like it) but I appreciate and respect the people that do.
I typically invest in currencies because I like what they are trying to do and I would sell only when they have delivered their specified platform or I would use that currency on that platform to address a need I may have.
As I said again I love crypto and I am in it for the long term this blog is not financial advice in anyway shape or form. I simply do not want to put my money in a banking system that has been known to be corrupt and unjust. I would rather invest my money in something I believe in.
Now to Business
My first article had a lot of amazing feedback and support from many of you so thank you all! If you like what I am doing and would like to see more any support, feedback, tips or donations would be greatly appreciated.
The great feedback has spurred me on with the intention of publishing a similar article every month showing you all exactly where my cryptocurrency investment is and some of my rants and thoughts.
So August is now gone and September is now here. In China apparently August is not a month where people would typically invest and many cryptocurrencies like neo have been shooting up and dropping like crazy.
I have had a few people advising me to sell when Neo was at its highest a couple of weeks back but to be totally honest I have no intention of selling at all. It was such a pain to get the crypto in the first place plus I invested in Neo like all my other currencies for the long term.
I have been looking at other ICO’s but it’s a big job. There are so many out there but I think people have to remember that crypto simply is NOT a get rich quick scheme.
Before investing its about investing your time researching the cryptocurrency itself.
I ask myself allot of question but I know I should be asking more!!
- What is it all about
- What does it do?
- Would I use it?
- Do I believe others would use it?
- Has anyone else done it or something similar?
- If so why is this different? Is it Better or Worse?
- Website?
- Whitepaper?
- Team Behind it…. Linkedin?
- Bitcoin Forums
- Slack Channels
- Github?
- Google searches etc?
Judging by this list I normally invest i have have a better idea if i should invest but it doesn’t stop there!
Once invested I continue to ask these questions if something changes that I don’t like i.e team change or direction of product I will ask whether this is something I continue to invest in every month , stop and review or if the worse came to the worst… sell it and buy another crypto?
Keeping up with each one and constantly reviewing the merits of each currency is a hard task and it is something I try to do. Not really from a selling angle as I have not sold a crypto currency because of price going up or down but I have sold a crypto in the past as the crypto was not what I expected or hasn’t moved in terms of development.
I have made no financial investments this month. I went to Toronto (for work) and I wanted to spend some money on gifts for the family.
I did however try to read up on a few ICO’s that I thought would be interesting to financially invest in September.
5rd of September looks like this :
As always these numbers are superficial as I would only get this value if I sold them at that time but it does give me additional confidence that more people are getting involved with cryptocurrency.
Last Month August :
https://steemit.com/cryptocurrency/@yoyomonkey/my-crypto-portfolio-august-2017-and-investment-mantras-so-far
My investment is still £7000+ as these cryptos mature I am really looking forward to when they launch full in the future.
Anyway thanks again for your time and I look forward to speaking to you all next month.
Peace and Love
Jazz the Yoyomonkey