My Investing Journey with Passive Income, Stocks, and Cryptocurrencies!

Category: Cryptocurrency

Decred Cryptocurrency

DECRED: Why This Cryptocurrency is my favorite

1)A FIXED SUPPLY-21 MILLION TOTAL SUPPLY. With 57.49% staked that leaves only around 5.4 MILLION Currently left to buy. However, this is not counting those that are in wallets that have not been staked. So, that means even less DCR is available for purchase. This makes it potentially more scarce

2)Top of it’s class GOVERNANCE-Decred makes you feel like a partial owner because you get to vote and have a say in things happening on its blockchain. With many blockchains, the developers and people in charge make it up as they go along with no input from coin owners. Regardless of how much you own, you don’t have a say in so many other crypto projects. Governance is there to prevent things like FORKS.

3)SECURITY-Since Decred is a hybrid blockchain, both Proof of Stake and Proof of Work, this makes it incredibly secure. It is 41 times more resistant to a double spend attack!

4)NOT TRYING TO BE EVERYTHING TO EVERYONE-Some projects lack focus because they are trying to do everything. For example, Decred isn’t trying do smart contracts, privacy, oracles, no fees, etc.

5) DEX-The Decentralized Exchange. I believe this is important because otherwise Exchanges have too much power, basically, in power to choose which projects get listed and which don’t (possibly affecting the success of some). The Decred DEX currently offers free trading withstanding a one time sign on fee, this fee is simply to prevent spammers. Pretty soon, you will be able to get into the Decred Wallet and access the DEX via your mobile wallet, how cool is that!

For me, the reason I’m such a fan of a DEX is because I’m tired of KYC requirements every time I want to buy a new coin on a new exchange. I do believe that there will still be a place for centralized exchanges in the future. For example, off ramping into your bank account/fiat.

6)SELF FUNDED-Yes, DCR has finally reached the point of being self-funded. This is super important because if it required outside funding, what happens when that funding dries up?

7)Has it’s own WALLET-A 3rd party wallet can be a security risk as well as conflict of interest risk. I like having an official wallet to go with my coin of choice.

8)UNDERVALUED price-wise. Comparing it to other projects standardized at a 21 million coin supply, you are paying less for 1/21 millionth of the supply. In other words, your money is getting you more of the TOTAL SUPPLY on a percentage basis.

I am not a financial or investment advisor, I am simply sharing my own positions and the reasons why I decided to buy them. Please do your own research.

Buying more VeChain and Cardano

Today the Crypto market saw a pretty good correction. BTC going from 40K to 30K very quickly.

In this video I discuss what moves I’m making.

I’m buying more Vechain and Cardano first and foremost. My Stellar Lumens is holding up very well, but I’m not adding to it yet. I think we could see a further decline with it.

Stockwise-I’m adding to Citizens Financial Group, Fortinet, Medical Properties Trust, and Uber. Talk about a group of stocks unrelated 😛

Cryptocurrency is SOARING

I don’t talk much about Cryptocurrency here on this “channel,” but I’m an avid investor in Ethereum, Stellar Lumens, and Cardano. Personally, I’m more interested in the Defi aspect of things.

These past two weeks has show some INCREDIBLE gains in the crypto markets. Some alt coins are going up over 40% over the last month.


ETHEREUM

First, let’s take a look at Ethereum. Ethereum just so happens to be my largest allocation in the cryptocurrency market. It’s up a whopping 36% in this past month. It is up 256% in the last year. My purchase prices are from $245-350. To think I had some I had bought around $100 and sold…..ouch! There are some things happening in the ETH space with staking and it will be interesting to see if they meet their targets here.


BITCOIN

Next, let us look at Bitcoin. Up over 43% in one month. Up 152% in the last year. Bitcoin eyes taking out a new ALL TIME HIGH. Unfortunately, I no longer own any Bitcoin. To think I bought it around $6500-7000 and sold for a nice gain….if I had only held :). I must say, I’m no longer a huge fan of BTC, despite the recent surge of institutional buying and companies like Paypal/Square adding it to their books.


CARDANO

One of my favorite cryptocurrency plays is Cardano (ADA). It is up over 27% in the past week. ADA is up 257% in one year. I think Cardano is going to be a slow but steady mover. I’m dying to see some price appreciation as my purchase prices have been .10-.14. It is the laggard of my cryptocurrency portfolio but the one that I remain the most bullish on.


STELLAR LUMENS

Lastly, we have Stellar Lumens, up almost 26% in a week. Stellar is my smallest position, but man it made a HUGE move this week. It’s desperately needing some capital appreciation. Up 72% over the last year but seriously off from it’s all time high. My entry points are .10-.11, so I’m in the red with Lumens. However, the more I research Lumens the more bullish I become, despite it going nowhere for some time.

Overall I will just say I think 2021 is going to be a great year for cryptocurrency. I’m anxious to see the developments with Ethereum and Cardano the most. I think Bitcoin price will continue to be driven up by instutional investing for some time; however, I fear it could simply crash again. My main worry is that will take down my “alt coins.”

My timeline with Crypto investing is years. Only recently have I logged back into my accounts. I will literally go months without looking at them and then when the action heats up, I’ll watch them again.

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