After somehow being FOMOed (Fear Of Missing Out) because of the sudden increase in the price of almost all of the cryptocurrencies out there, and because we are having a bullish market at the moment, as what they say, I sold off some of my Vitae that I have been holding for more than 2 years now to buy some of the famous crypto coins in the market.
If you are asking, what is Vitae?
Basically, Vitae is also just another cryptocurrency like the famous BTC, ETH, XRP, BCH, and the likes, which I invested in about 2 years ago.
You can read more about what Vitae is and why I invested in this coin in my article that I published on this site about 2 months ago. Just click this link.
When I wrote the article, 1 vitae was only about $2.50 for each coin. But today, according to Coinmarketcap, 1 vitae is already $9.89 each.
Last Thursday, I transferred 120 Vitae from my wallet to my Stex trading account to sell the coins. Luckily, I was able to sell each at $10.00 per coin, which amounted to $1,200.00 in total. I don't know if this was a good move because I believe this coin will also explode in value in the future, but I'd like to believe that it was also a good way to have a diversified crypto portfolio. After all, all of the money that I used in buying the coins are from cryptos, so I am not losing any of my savings or personal money here.
After selling the Vitae, I then transferred the money to my preferred trading platform to buy the coins that I mentioned in my article about my Crypto Goals. I was supposed to buy these coins using my profits from trading, but then I suck because I keep buying at a high price and ended up not having good trades at all. This is also the reason why I stopped trading, and I decided to just buy and buy and buy and hold, and only sell when I need some money. I don't need money at the moment, and I have personal money so I don't need crypto/internet money, so this will be my way of investing for the future. I hope I will be able to reap the fruits of these investments when I graduate from college.
So this is how the money was allocated. As you can see, more than half of my portfolio is consists of BCH and ETH. Eth was supposed to have a bigger percentage, but then I'll be a little bias because I really see a potential in BCH, and because I am here at readcash. Lol Of course, BNB and XRP came next.
At the moment, the total amount of these coins are only about $1,100 in total. That means I still have an unrealized loss of about $100, which is basically because I bought at a high price of these coins compared to their current price. It is all good especially if they will start recovering, and these are all for long-term hold anyway, so I don't really care about the losses.
I also have separated all of the BCH I got from this platform, and transferred them to my coins.ph wallet to know how much have I already earned from just writing articles in here. At the moment, I already accumulated about 1.03 BCH from readcash. All thanks to the pointing system, the random rewarder, and the generous tippers and writers here.
Now, I don't have any plans in converting them into fiat money as I don't want to mix them up with my personal savings. I'll just let them be like that, which is crypto/internet money, or in my words, "fake/play money". Lol 😂
I actually don't know if these investments will be worth it in the long run, but I'll just hope for the best.
As part of my 30 Realizations before I turn 21, let this be another lesson to me to think of the things I will do before jumping into it. And that if I am going to invest, invest for the long-term not just for short-term goals.
I don't know if that makes sense tho, but I hope it does.
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Follow my Crypto/Trading Journey:
What is Vitae and Why Did I Invest in It?
My Binance Trading Journey Starts Now
Update About My Binance Trading Journey
My Pledge to BCH after Buying it on Top
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My 30 Realizations Before I turn 21:
Day 1: Don't rush. Trust God's perfect timing.
Day 2: Start Saving Money While You're Young, and Have Plenty of Time.
Wow. You have A lots of crone