Crypto-retirement: Almost all cryptocurrencies were losing out in September

As much as 93% of cryptocurrencies out of the 250 most highly valued recorded declines in September. No wonder our wallet has suffered as well, but the losses are minor. Thanks to well-matched assets and diversification, the deep correction in the market was gentle on us. How are we doing now? We invite you to discuss our crypto-retirement wallet.

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.

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September weak in the entire market

September 2020 was one of the most difficult months for the cryptocurrency market in the last 12 months. After analyzing the prices of the top 250 cryptocurrencies in terms of capitalization, it turns out that as many as 93% of them recorded drops. Inevitably, it was necessary to have exceptional luck, knowledge, and preferably both, to be a cryptocurrency holder in the past month, to record increases. Us  it failed, but we're not going to complain anyway. With the range of declines, which in many cases reached several dozen percent, our portfolio did not disappoint. How did this happen? Let's get down to business.

The results of our cryptocurrencies in September 2020:

• Binance Coin (BNB) + 7,01%
• Bitcoin (BTC) -10,83%
• Cardano (ADA) -22,24%
• ChainLink (LINK) -40,89%

As you can see, most of our assets became cheaper. Even a lot. Only Binance Coin increased in price, but - contrary to appearances - it was enough to stay afloat. Why? Well, our recent purchases are mainly Bitcoin (BTC) and Binance Coin (BNB). The other two cryptocurrencies are therefore a minority in our portfolio, so their discount did not significantly reduce the valuation of the portfolio. Fortunately.

The valuation of our portfolio decreased from EUR 590,34 to EUR 552,17. Of course, this is a decrease by over 6% within a month, but probably no one doubts that this is a slight sag on the cryptocurrency market, especially - let's emphasize it again - after such a weak month for most cryptocurrencies.

We buy cryptocurrencies for PLN

Of course, we are not discouraged by a small slip and continue to invest. However, we decided to take advantage of the opportunities that have recently been introduced by the Binance cryptocurrency exchange. We make the payment in PLN. Actually, not payments, because we buy cryptocurrencies immediately. We choose the recently overpriced Bitcoin (BTC). For two reasons: we still believe that real gains are ahead of the "king of cryptocurrencies", but there is also a more prosaic reason: when buying for zlotys, we can choose from a limited number of digital assets. The commission when buying from a credit card is 2%, which does not differ from the commission charged when buying from a currency card. So we convert the euro exchange rate at PLN 4,50 and buy it for the equivalent of EUR 60 - because our portfolio is valued in this currency.

Crypto Retirement: A Summary

Recall: we have deposited 8 times 60 euros, so we invested 480 euros in total. On October 01.10.2020, 552,17, the account balance is EUR 10. So we are still in the black, although not as significant as a month ago. However, we approach it with great calm, because - let us remind you - our investment horizon is XNUMX years.

Of course, as usual, we put all cryptocurrencies on interest-bearing deposits using the automatic subscription function. As a result, all accrued interest will be automatically paid on the deposits. And we are waiting for what October will bring.

Portfolio balance after five months: EUR 552,17

Profit after five months: + 15 %

Next summary in a month!

Learn more about selected cryptocurrencies:

1. Bitcoin - all about the "king of cryptocurrencies"
2. Link - a cryptocurrency that Intel has bet on
3. ADA - a token created by scientists
4. BNB - a token from the Binance exchange