With more than 750 different cryptocurrencies on the market, it can be difficult to determine in which altcoin you should invest. Sharing = caring, that’s why (colleague) Jaap and I share some of our purchases of the month April.
Which tactic works best?
- Choosing by name or
- Keep an eye on Slack and follow the markets?
Jaap’s altcoin purchases
What? Einsteinium, an open source platform that, on one hand, wants to increase knowledge about blockchain and, on the other hand, uses the same blockchain to collect money for (scientific) research.
Why? Apart from the noble purpose of this altcoin, I bought Einsteinium mainly because of the abbreviation EMC2. Why? Because it sounds funny.
Result? I bought a thousand for 260 satoshi each. In the meantime, the rate is 861…
What? Ardor is Blockchain as a Service (BaaS), this blockchain can therefore be purchased as a service.
Why? I love striking names. Like EMC2, ARDR was also bought for the funny name. It sounds a bit like “Mordor”, right?
Result? The funny names do not impose any harm, because this coin goes to the moon for 2000 satoshi each and now already over 50% profit: 3310 satoshi. I’ll love this one!
What? TeslaCoin, a coin that supports a platform where people can offer a project or idea.
Why? Third time’s a charm and next to that: I’m a fan of Nicolas Tesla, I bought this coin because of – goh – the name.
Result? The purchase price dropped to 150 satoshi in early April and after that TES suddenly reached 450 satoshi after the first half of May. As a result value tripled 🙂 Maybe I’ve been too excited because I loved him. For now, the outlook is not great, because he is now hanging out on 116 satoshi.
Michiel’s altcoin purchases
What? Ripple, an initiative for payment traffic which is cheaper, faster and more important kind of decentralized.
Why? Bought for 500 satoshi in Januar, sold for 504 early March. By the end of March, ripple made a climb to almost 5000. After such an increase, I thought it was an excellent plan to reinvest. Afterwards, I found out I purchased them at the highest point of April.
Result? Ripple proves that patience is a clean thing, cause after I bought XRP at the highest point of the month and then dropped by more than 30 percent, the day after King’s Day XRP recovered in Bitcoin value. As Bitcoin has also increased, I could sell – even though 4100 Saturday per 1 XRP – the altcoin without a euro loss again.
What? Bata, the currency for a (not yet existing) platform where services are exchanged.
Why? Through the Slack channel of Nexus I got a tip for Bata. After some research, BTA appeared to be in a dip; A good moment to buy in.
Result? Bought for 4200 sat and then sold half of the coins for 8400, so all my BTA I have now for free. This month 700% in the plus, so a good investment.
What? BitBay, a marketplace in/with a blockchain.
Why? Once again I followed an advice from a #trading at a Slack channel, this time via the Antshares Slack.
Result? A good sale, because within three days the price doubled. As I often do (or try): sell half of the altcoins for double price of which I bought them. This time luck was on me and now I have free BAY.