The 1000€ Holding Challenge

This post belongs to The 1000€ HOLDING CHALLENGE, an experiment that consists of holding 1000€ in cryptos during the whole 2018. If you want to enroll or know more, here are some interesting posts:

• New to cryptos? Start here
• How to prepare the portfolio?
• How to buy cryptos?
• How to store cryptos?
• Weekly portfolio evolution?

Introduction

If you are reading this post, I assume that you have prepared your portfolio and now you are going to buy the coins. In this post I will give you some tips on how to organize and buy all coins you have selected in the previous step. We will go through the following points:

• Select where to buy.
• Select the pair.
• Transfer funds.

Select where to buy

Unfortunately, not all coins are available in the same exchange, so probably you will need to use different exchanges to buy your coins. This is not a problem, but try to use no more than three. In my case I'm going to use Binance, Kraken and HitBTC.

Select the pair

Unfortunately, not all coins can be traded with EUR, so you will need to buy another coin (i.e. ETH or BTC) to buy that coin. For example, in HitBTC you can't buy TenX with EUR, but you can buy it using BTC or ETH. So you will need to first buy ETH, and then use that ETH to buy TenX. I would try to avoid pairs with BTC, because if you need to move funds from one exchange to another, fees are higher than with ETH. So in my case, this is what I have.

Transfer funds

As we already know, not all coins are available in the same exchange, so you might need to transfer funds from to/from an exchange. In my case I will use Kraken as the "core", which means that I will have my 1000 € there, and then I will move it using cryptos (ETH in my case) to Binance and HitBTC. Lets remember my portfolio:

So the steps are the following:

• Transfer 1000 € to Kraken. It will take one or two days as maximum.
• Once we have our 1000 € in Kraken, we will buy 100 € of Ripple, 100 € of Bitcoin Cash and 100 € of Litecoin.
• We also want to buy Ethereum, but take into account that we will also buy Iota, Neo, TenX and WaBi with Ether, so we need to buy (200 € + 100 € + 200 € + 100 € + 100 € = 700 €) of Ethereum.
• We will keep 200 € of Ethereum in Kraken, and move the rest to Binance and HitBTC.
• In Binance we will buy 100 € of Iota, 200 € of Neo and 100 € of WaBi, so we will transfer from Kraken 400 € of Ethereum. Once we have in Binance the equivalent of 400 € in Ethereum, we will buy the coins.
• In HitBTC we will buy just 100 € of PayX, so just transfer form Kraken 100 € in Ethereum. Once we have it, we will buy PayX using Ethererum.

That's it. Moving cryptos is quite easy, you just have to do a couple things but if you have any problem, leave it down below in the comments and I will be happy to help you:

• Go to the receiving account in the Funding and Withdraw section, and look for the coin you want to receive. You will find an address. Copy that address. Note that each coin has an address and you can send Bitcoins to an Ethereum address.
• Go to the sending account in the Withdraw section and send the amount you want to the address you copied in the previous step.