Thursday, 13 July 2017

The cryptocurrency adventure

At the beginning on May i invested approx. £3200 in a new cryptocurrency called Ethereum, and i paid an exchange rate of £36 per 1 Ethereum. My deposit run fast to almost 22.000 pounds, but i was greedy, waiting for a bit more, and after few unfortunate events such us a fake news about the dead of the Ethereum public face (which was not true, but resulted in 10% price drop), and one 10 seconds spike from £299 to 0.10 and back, the value steadily decreased, trying to reach some equilibrium value. Today i decided to take my money back, and i just get £9800 sent to my bank. I was hoping to make at least £500, but in the end i got a £6500 profit for 75 days, which is an annual ROI of 31633%. Out of my last side hustles, this is, surprisingly, the second best. With the worst of them hustles resulted in losing £600, and other making zero profit (never started), the three remaining provided a decent return.

I personally think that the potential for any cryptocurrency is to invest at the moment of the ICO (initial coin offering).

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