Hello,
Welcome back to Part 2 of my Building your Alt Folio.
To recap, for this exercise we have a $1000 starting balance.
I have gone through how I would spend it if I was starting back out again and this is a follow on from my getting started in Crypto tutorials.
Again, I will advise that no one can tell you with %100 confidence what is a safe coin to buy or even what you should buy for that matter.
Researching the coins and investing in projects you think have real potential is the way to go.
Alt Coins with technology behind them that solve problems, allow for commerce to move onto the Blockchain, help with scalability, privacy coins for example are all good.
All Alt Coins are very good at sounding like they will be the next big thing and the truth is some will not be able to deliver on what they set out to do.
Others may be able to deliver, but will face stiff competition in their space and could be up against someone else that just does it better than them.
My advice would be, if you find a coin that does something really cool, chances are there are multiple coins setting out to achieve the same thing.
The idea or concept you are investing in could be worth gazillions one day but the 'horse' you backed to deliver it, might not be the right one.
To keep the horse analogy going, back multiple runners in the same race, spread your money around and never put all your eggs in one basket.
You can read more on my thoughts on this in Part 1
In Part 1, I advised what I would do with the first $500 and the coins were:
200 Ripple (XRP)
370 Stellar (XLM)
520 Cardano (ADA)
12.5 EOS (EOS)
830 Tron (TRX)
I will now go through what I would do with the remaining $500.
VERGE (XVG)
Firstly, we have some very topical news that has come out since I wrote Part 1 and that is the bold claims by Verge (XVG) about an exciting new Partnership with a huge company.
This Partner is a mystery until the big announcement on 16th of April but Verge are saying it will be the biggest partnership announcement in Crypto ever!
Hard to ignore claims like this and Verge does boast a solid real world use, given their Wraith Protocol Technology.
This technology means Verge is the only coin that allows users to switch between the public and private ledger.
This gives user's the option of using it as a privacy coin or not.
Privacy Coins are very popular as it is and a good Crypto investment at the best of the times.
With or without this exciting Mr X partner, Verge would make a good addition to a starting Alt Folio.
I would recommend we use $200 of the remaining $500 on Verge and at 8c AUD per coin, that would net you 2500 of them.
Remaining Balance $300
Vechain (VEN)
Next up I would get a starting stack of Vechain which is ranked 17 at the moment but has definite top 10 potential.
VeChain is a great product for retailers and consumers globally as it gives users the ability to determine the quality and authenticity of products that are bought.
From product source materials, to servicing history, part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified on the Blockchain.
This gives people access to information on products that has never before been available before and has a huge real world use with the potential to be a valuable tool for so many.
It is a little pricier at $3.58 AUD a coin than some of the others we have got but that price is well down on its high’s.
Once the bear market passes there’s a lot of smart money on VEN going right up in value.
I would recommend using $200 on it which would give you a starting amount of approx 55.
Remaining Balance $100
Odyssey (OCN)
For the last %10 of your stack that’s where I would say you can afford to gamble a bit more on a lower ranked coin that has room for big growth in the future.
Odyssey is ranked 282 and in absolute Junk coin range however this coin has had some backing and I think it is one for the future.
Odyssey has been selling in high volume on the Kucoin exchange and has had quite a decent wave of support lately.
This has been proven by its price remaining stable around the 1.1 – 1.4c AUD mark through some bad times last month.
To talk a little bit about the coin, it has been described as like a decentralised Amazon.
The Odyssey smart contract system is designed be a global market place and sharing economy for all of its users.
Service providers are free to make listings under the decentralized Odyssey Protocol Platform.
They can set the price, terms, etc and commission fee’s are eliminated.
When researching Odyssey there is a lot of positivity surrounding this coin but of course it’s very early days so treat this as a total gamble.
I couldn’t give you any price predictions or anything like that so it would be a buy and hodl coin for now.
The current price is 1.2c AUD a coin so your last $100 will buy you approx 8330 of them.
So that’s $1000 well spent and a nice start.
From here you just want to continue buying low which is not hard in this bear market with a view to one day selling high!
Never spend more than you can afford to lose and use this as a guide as prices are always fluctuating.
Let’s see how your final Alt Folio would now look:
200 Ripple (XRP)
370 Stellar (XLM)
520 Cardano (ADA)
12.5 EOS (EOS)
830 Tron (TRX)
2500 Verge (XVG)
55 Vechain (VEN)
8330 Odyssey (OCN)
Not a bad start, but time will tell.
I will make a diary note to check back in on this article in 6 months and we will take a look at what it is worth then.
6 months is an eternity in Crypto world so that will be real interesting!
Good luck on your ventures into Crypto world and I would love to hear from any of you.
If you have any questions please feel free to reply to any of my Crypto Blogs and I will be sure to respond.
Thanks for Reading
- Dahmsy79