Portfolio help. Don't make mistakes like I did.
Hi guys, I will list my portfolio on basis of % of $ and % of coins here and want to ask your guys' opinion on it and how to strenghten my position. Also I would like to help new investors think long and hard about what coin they should invest in by telling how I got this portfolio so they don't make mistakes.
| Coin | % $$$ | % Coins |
|---|---|---|
| Ripple (XRP) | 35 | 1.7 |
| Gulden (NLG) | 13 | 1.1 |
| XEM | 7.3 | < 1 |
| Myriad (MYR) | 5.7 | 22.5 |
| ArtByte (ABY) | 5.6 | 8.2 |
| TenX (PAY) | 5.3 | <1 |
| ReddCoin (RDD) | 4.8 | 40 |
| DOGE | 3.5 | 19.3 |
| BNB | 3.2 | <1 |
| ARK | 2.4 | <1 |
| SiaCoin (SC) | 2.3 | 3.3 |
| Monaco (MCO) | 1.9 | <1 |
| Verge (XVG) | 1.3 | 2.2 |
| OX Fina (OX) | 1 | <1 |
| DNT | 1 | <1 |
| OAX | <1 | <1 |
| GNT | <1 | <1 |
| STEEM | <1 | <1 |
| BCC | <1 | <1 |
| IOT | <1 | <1 |
| BTS | <1 | <1 |
| CVC | <1 | <1 |
| SNT | <1 | <1 |
| XLM | <1 | <1 |
| FUN | <1 | <1 |
| DGB | <1 | <1 |
| NXT | <1 | <1 |
| SAFEX | <1 | <1 |
| BTC | <1 | <1 |
As you can see its a pretty broad portfolio with a lot of (different) coins. I chose Ripple as my basis with many coins around it. I got this portfolio by putting a couple of bucks in NLG 2 years ago and during the crypto hype in June I remembered I had some NLG somewhere. This allowed me to invest in crypto with no financial loss but at a terrible price. My portfolio had about 2/3 of its worth left.
Here is my advice for beginning investors: - try not to look at the financial worth of 1 coin but try to look at the team, the thought, the project, the community etc. This will allow you to block out the thought of "i can buy 500 coins of this and only 1 of that, lets go with 500 since the overall financial growth could be higher" - Don't look at how many coins you can buy for X amount of FIAT but look at how much investment a project is worth to you and only invest that. If I would have bought higher priced coins with better technical solutions for society in them I would have made a profit but now I am just holding and hoping I can sell off some coins for about the same price as I bought them.
I bought MYR, DOGE, RDD and ART because they were very cheap and I thought I could recreate my lucky hit with NLG by investing in some cheap crypto's. Out of those 3 I still think RDD could become more valuable but not much. In hindsight I wish I took some more time to investigate crypto and put some of my investments of those coins into other coins. DOGE still pretty good buy though the community is great!:)
Now I am thinking of buying some more ARK, SC, Verge and add Ethereum to my portfolio. What are your thoughts. Any advice?
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