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Crypto retirement: good May is over
Today it's time for the third summary of our retirement portfolio, based on investments in the most risky assets on the market: cryptocurrencies. Another good month is behind us. Our wallet is growing steadily - if, of course, you can use the word in the subject of cryptocurrencies "stable".
Let's remind: two months ago we started our experiment, which will consist of regularly investing in cryptocurrencies.
Crypto-retirement rules of the Forex Club Portal:
- we invest on Binance Stock Market, which is not only the largest in the world, but also - so far - the most stable,
- every month we devote 60 euros (this is the minimum deposit threshold in Binance),
- we want to invest approx. half of the funds in Bitcoin, as the "king of cryptocurrencies" and the indisputable flywheel of the entire market,
- in addition to BTC, we selected 3 other cryptocurrencies: LINK, ADA and BNB, in which we will invest at least until the end of the year,
- if it is possible, we pay cryptocurrencies on "deposits" in Binance,
- at the end of the year we will decide if there are other cryptocurrencies in the portfolio,
- the investment horizon is at least 10 years.
May very good for crypto retirement
In April we've had great results. Not only did we make up for the losses from the first month, but we also left a plus.
Portfolio status at the beginning of May 2020.
May was also very good. The biggest merit in this network Cardano and ADA cryptocurrencies and information that has been made public in recent days. It turned out that an update called Shelley was to be implemented any week. This will be the next step in the development of Cardano. The update, which aims to make the network the best decentralized platform in the world, has been working for over two years. Everything seems to indicate that the titanic work of developers was successful and we will know the results of these efforts in the near future.
LINK, which recorded an increase of over 13 percent, and Bitcoin, which can not cope with the psychological barrier of 10, was doing well. USD, but in the last 30 days it has increased by over 7 percent. Only Binance Coin recorded a small loss in May, slightly exceeding 1%.
The results of our cryptocurrencies in May:
- Cardano (ADA) + 54,42%
- Chainlink (LINK) + 13,74%
- Bitcoin (BTC) + 7,09%
- Binance Coin (BNB) -1,25%
As a result, the valuation of our cryptocurrency portfolio has increased again and at the end of the day 01.06.2020 looks like the picture below.
Traditionally, we spend 60 euros on purchases and make sure that the state of our wallet is about half of Bitcoin - as the most famous cryptocurrency and a kind of litmus test for the entire market.
Our portfolio after purchase as at 01.06.2020/XNUMX/XNUMX looks as follows:
Deposits in cryptocurrencies
Traditionally, we "freeze" all cryptocurrencies by transferring them to interest-bearing deposits. Until now, BNB, LINK and ADA have found their way there. Currently, you can also place Bitcoins, which of course we are happy to do. The current interest rate for BTC deposits is 0,99% per annum. Interest is accrued daily, and you can also set up an automatic subscription. This means that the accrued interest automatically increases the amount of the deposit and interest is also calculated on them the next day. Thanks to this, we also gain from compound interest.
Our deposits in cryptocurrencies with a given interest rate.
Summary: it's at least good
We will be emphasizing all the time that after a few months it is definitely too early for grades, but for now our portfolio is doing great. For now, there is nothing on this subject write down, but just look at one, but the most important number. We paid 3 times 60 euros. Currently, the account balance is EUR 211,34.
Change of portfolio after three months: + 17,43 %.
Next summary in a month!
Learn more about selected cryptocurrencies:
