Hey All;
Its time to do a quick check on the LEO SIP that I started four days ago. The idea was to do a SIP which is a Systematic Investment Plan into a token and I choose to start with the LEO token.
SIP is not something new in the financial world but a SIP into a token is Brand NEW and if a person is consistent with their investment/SIP I'm sure the investment Yields could be much higher as compared with the fiat investment into mutual funds with SIP.
So what I'm trying to say is that as we have a SIP for mutual funds if we follow the same strategy with good tokens the investment results/yields are going to be far much better. Therefore with that intention in mind, I started with the initiative of::
### SIP to LEO for 10 Days - Buying 10 LEO tokens Daily
Let's dive into the investment done thus far. Here are the stats for the first FIVE days of SIP investment into the LEO token.
Drilling down further to the SIP investment details; here are the screenshots
###SIP Start Date 5th October::
Purchase 1::
Bought 10 LEO for 1.6 HIVE each - This is the day that the idea kick-started and I've been consistent enough to follow to perceive my idea of SIP into a token.
Purchase 2::
06th 2 Purchases::- This day the price was low and I thought of buying extra LEO tokens. That is the reason for two purchases, one definitely is in line with the investment plan of buying 10 LEO tokens daily, and the other was to leverage the drop in the price of the LEO token.
Purchase 1:: Bought 18.5 LEO for 1.5 HIVE each
Purchase 2:: Bought 9.9 LEO for 1.5 HIVE each
Purchase 3::
10 LEO Bought on 9th October Price 1.68 HIVE for 1 LEO
I was not able to buy LEO token on 7th & 8th October due to some reasons. Just notice the spike in the price from 1.5 per LEO to 1.68 in two days. Had I bought on these days my price would have further average out. But no worries SIP is all about averaging out the price. So continue with the investment strategy here on this day bought another 10 LEO tokens for 1.68 HIVe for 1 LEO; quite a high price.
Purchase 4::
10 LEO Bought on 10th October Price 1.58 HIVE for 1 LEO
We are now on the current day and this is my 4th purchase. The price has further dropped down to 1.58 HIVE for 1 LEO. Actually, I wanted to buy more LEO tokens but I didn't, and when ahead with my strategy of buying 10 LEO tokens for the day, and here is the snapshot for the same.
Why this Sudden Drop-In Price
This is my guess and I may be wrong as well, this drop is somewhat tied to the payout of LEO tokens for providing the LP on the UniSwap. Check the detailed post on the First WLEO LP Yield Payout. This payout of LEO tokens provides more liquidity and hence folks would be selling it out to book some of their profits on the investment made. So this is something not to be worried about and the price will pick up gradually giving the opportunity for investors to buy in cheap.
The Conclusion
So with respect to SIP investment so far if you calculate::
Total investment in HIVE equals = 84.95
Total LEO tokens Bought equals = 58.4
Current Value of 58.4 LEO tokens in HIVE [1.58 * 58.4] = 92.27 HIVE
So there is a profit of 7.3 HIVE so far. Not that bad, I guess.
So what I'll be doing is continue with the SIP and if opportunity strikes when the price fall sharply, I'll be buying more LEO tokens. Also if we remember the SIP mantra of averaging out the price, I feel one's investment is absolutely SAVE but only the main requirement is consistency which is the KEY for your investment to grow exponentially.
Have Your Say on the SIP strategy? What are your thoughts? Is SIP a Save investment strategy or Not?
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I had my desire to start with a SIP into the token and I started with the LEO token and have been tracking the investment thus far that's it.
Image Credits:: hive-engine, procanva, leodex