As some of you know I experimented a bit in cryptocurrency last year. Although I didn’t post anymore about it, I actually did some moves in this space so I thought that I’d give you all an update on this speculation.
Originally I bought Ripple coins (XRP) for the amount of €500,-. or 2641 coins at a price of €0,189. The idea at first was to hodl for the long term and see a steady rise in profit hopefully enough to pay for my mortgage 🙂
The reality was somewhat different though. After my initial purchase there indeed was a steady growth in the XRP price. As it grew I began to feel some pressure to sell it, so after a small rise I sold all my coins when the price hit €0,22. Realising a total profit of €81.08. NICE!
Since the price dropped again I decided to use my original €500,- and rebought XRP again at a price of €0.18500. The price dipped even further so I used my realised gains to buy additional XRP.
After it continued to rise in price I made some subsequent gains by selling batches of 100 coins at a time. After a few buys I decided it was time to branch out to other coins and to invest another €300,-.
Then the price of XRP rose to its peak above the $3:
Other coins continued to soar as well and eventually my investment of €800,- grew to a stellar €4165,29. Amazing unrealised gains & profits, it grew bigger then I dared hope when I first invested in this new technology.
Your probably wondering, dude did you sell at this high?!? Alas, my answer is no. In my infinite wisdom I decided that if it could grow to $3+, it could also go to $10 right?
Well apparantly so far the answer is no. After this great rally, all coins,including XRP made a nosedive and returned to lower values.
Long story short I now have a small portfolio consisting of Ripple (XRP), Stellar Lumens (XLM), Tron (TRX), EOS, and Electroneum (ETN).
The average value of this portfolio is between €1200 – €1600 euro although it crossed €2000 again three weeks ago and went down again after that. At the time of writing the value is €1264,73.
So far so good with a healthy €450,- profit in about 9 months time, but boy what a ride it has been and continues to be. It’s definitely not for the faint of heart, that’s for sure!
Got any experiences of your own? Please share in the comments!