You may ask; why do you refer to your investment and portfolio as OUR investment and OUR portfolio?
That’s because all early followers of the thecoinmovement.com blog (pop your email on the subscribers list below to be a part of this) will take a risk free share of my year on year trading profit.
I haven’t figured out the intricacies of this giveaway yet but; put simply – a huge chunk of my profits will be given away to subscribers. So, you may as well just join in on the quest to see what happens. Even if you forget you’ve joined it will be a nice surprise in a year’s time when I contact you to ask for your Wallet address so I can send you some free crypto! Subscribe at the very bottom of this page 😉
Let me summarize what I’m trying to achieve, In case you have just stumbled upon this blog. I took CAD$1,000 of my own cash and bought some BTC and ETH, with the purpose of openly sharing all subsequent exchange trades and to give away a portion of the profits to the subscribers. You can read all about the initial investment here.
Wow! What a roller-coaster the last few weeks have been. Unfortunately, we entered the market on Aug 31st, 2017. This was a couple of days before all the China FUD which resulted in an ICO/cryptocurrency exchange crackdown. Bitcoin was joggling in and around an all-time high of USD$5,000. I hodled all the way through the dip and gladly the market showed some resolve and recovered. Below is a snapshot of the portfolio as of yesterday. I use a basic Google Docs tracking spreadsheet linked to live coinmarketcap pricing, to record all of our transactions and portfolio wallet balances. You can access the tool and make a copy of it. Feel free to use a tailored version of the document, for your personal portfolio.
As you can see, we’ve been knocked for 25%. My first published trade for Basic Attention Token(BAT) pulled off and returned short term 18% ROI. You can read about my current position with SAFEX in the trading journal. If there are any interesting news developments that may affect price then I will be sure to re-evaluate all positions above.
The portfolio has taken quite a beating since its inception a mere 3 weeks ago. Let me clear – I am an advocate for cryptocurrency and the mass adoption thereof. Volatility will be inevitable while bitcoin and other altcoins find their rightful place in the world economy. Even though I aim to be on the right side of a price swing, my overall sentiment towards cryptocurrency success, as a means of transacting and storing value, is massively bullish. Sometimes it’s best to take a backseat and wait for a bounce back, instead of selling at a loss. In hindsight, I should have probably tethered the entire amount as soon as I purchased on Sep 1st, 2017 since back then my priority was too focused on setting up the infrastructure for this website. No excuses though – I missed some key market indicators that pointed towards a dip!
Altpocket and Blockfolio
The altpocket profile shows my initial fiat to crypto buy in. Altpocket is a social platform that allows traders to display verified Crypto exchange trades. I’m not adding any trades to the profile at the moment since the product is still in BETA testing and has many kinks and bugs. The running balance is nice to have as a comparative gauge i.e. It indicates what the total value of the portfolio would be if no trading activity took place and we just hodled BTC and ETH.
Blockfolio is proving cumbersome. The reason for this is because I must manually input all buys and sells. This is basically a repeat of what I enter into the tracking spreadsheet. My balances are also thrown off when trading using BTC and ETH pairings as the app doesn’t adjust my overall BTC or ETH portfolio totals after a buy/sell. There are plenty of traders out there that love the app but It’s not really working out for me since I already have a manual tracker. Essentially, I’m doubling the workload by manually entering data into two separate programs.
Coin Stats – killer app
Let me tell you about a new app I’m using to track market prices across a variety of exchanges and to keep tabs on our altcoin valuation. The app is called Coin Stats and its free to download, however only available for IOS devices.
Coin Stats has market and price data for over 800 Cryptocurrencies and is so simple to figure out and use.
Other features to note:
- A choice of between 30+ currencies and 7 languages, including Chinese.
- There are Quick links to buy crypto instantly through changelly.com
- The Altfolio tracks your own individual bags of Bitcoin and Altcoin.
- There is a News feed tab, sorted by most recent, with a selection of content from bitcoin.com and bitnewz.net
How it can improve:
- It would be great if Coin Stats had more chart features – integrated tools, candlesticks etc
- The News tab is very limited. An excellent addition to the app would be to have a news tab linked to each coin that gave you a curated news-feed of events/community updates/articles relevant only to that particular coin.
Overall, I highly recommend checking out this amazing free product. Coin Stats will enable you to keep track of price movements while on the go and has a lovely interface that can be seamlessly navigated. Here is a link to the app store reviews and description.
I’m using the Altfolio feature in Coin Stats as a way of measuring the accuracy of the Coin Movement holdings( as per manual tracker).
We can get a more accurate portfolio valuation by entering the coin movement’s current wallet balances into Altfolio and comparing the results against the Google Docs Tracker.
CAD$750.21 versus CAD$743.55. This shows that our estimations are closely aligned, which is cool.
Unrelated Side note
Thank you so much to everyone who subscribed to the email list so far. It’s what keeps me writing! I really appreciate the support from every last one of you and will continue to research and provide as much content as my free time allows and, of course, grow our portfolio!
My website building skills are very average – learning as I go along. To any readers out there with experience in web design- how can I make thecoinmovement.com site look and feel better? Please leave a comment below. I’d love to get some feedback on this design template 🙂
Thanks again for reading.
Cathal – The Coin Movement