Hello my fellow Steemians and Crypto Investors,
The Crypto Millionaire app is getting a few more of the upgrades most requested by the Steemit community and its regular users.
Barring any unforeseen major software bugs or, as it has previously happened, flu caused delays (from those bugs that affect developers in the real world kind:), these updates should be up and running by this week-end.
So, here’s a sneak preview of what’s coming!
New milestone indicator icons to let you know when you have reached or even surpassed the millionth of supply of your favorite coins:
You will be able to see, at a glance, how safe and diversified your Crypto Portfolio is! These are the new icons:
For extra info on why owning the Millionth of Supply of crypto currencies is so powerful for investors please read at the bottom
You will be up to date with feeds from Google News, Twitter and Reddit for all your coins. Whatever it's happening, you will know about it sooner than anyone else!
Protect your portfolio from prying eyes and screen recorders:
You will be able to pin password protect your portfolio! This feature has been one of the most frequently requested.
New notes section to write annotations on all your coins:
You will be able to write down notes to yourself on each coin.
So, what do you think? How do like these new upcoming features?
Do you have other suggestions and ideas you would like to see available in Crypto Millionaire?
Do share your thoughts with the Steemit community and tehe developers in the comments below!
What percentage should you invest in each coin to become a multi-millionaire? A winning index strategy
Investing in crypto is becoming a safer bet each year as Bitcoin and altcoins get older, improved and better established. We are still in the very early days of crypto and the opportunity to strike it rich is well within reach of most people, provided they have access to the internet, modern banking and a little disposable income. However, for most new investors coming into the crypto space deciding which coins to invest in and how much is a very complicated issue.
There’s so many of them, so much information, high tech jargon and amazing promises that sound more like lies uttered by politicians than from the nerdy developers that are pitching them. Every new coin is hyped, packaged and sold like the next Amazon... However, despite all the hype and noise, we can now say with a high degree of certainty that some of them will make it big in the future, but which one(s)?
Interesting fact: All users of crypto currencies today represent less than 1% of the number of current Facebook users. More details
The reality is, no one knows, whoever tells you they do, they are flat out lying, fooling you and themselves. This market looks very much like the early car industry in the United States. Thousands of car brands appeared everywhere, a lot of them were very promising (remember the DeLorean?), but most eventually went bankrupt, only a few succeeded in the long run.
So, how do I know which coins will succeed?
The simple answer is you DON’T. Trying to pick winners is very dangerous game that most people lose, those who don’t are demonstrably just plain lucky and end up losing everything the next time they bet big. The strategy that I’m introducing guarantees the winners come to you, rather than you pick them up.
How much money should I put in each?
This is a huge conundrum for most investors. With so many coins available and limited disposable income to invest it’s hard to distribute the funds in a sensible way.
Introducing the Millionth of Supply Passive Indexing strategy and the Crypto Millionaire app:
Crypto Millionaire is an app that feeds from the Coinmarketcap’s API and lists (or indexes) the top coins by market cap and daily trading volume. The coins at the top give you a pretty good idea of the current coins being favored by the market.
The goal of this strategy is to own a millionth of the supply of each of the top coins by market cap . This way you guarantee that if any of them succeeds in the future you will be part of the elite, the top 0.1 percenters and millionaires of the future. If any of the coins (or some of them) succeed(s) and become(s) a widely used reserve currency you will be guaranteed to own a millionth of its supply .
Screenshot of Crypto Millionaire showing the USD value needed to own the millionth of supply of the top coins ordered by market cap. Follow me @CryptoEagle for updates.
It doesn’t matter if you invest $100 dollars every month or $100,000 at once, your goal will be to own the millionth of the supply of the top coins as soon as possible by spending only disposable income . So, if for example, all you had is $100 dollars to invest monthly, you would invest this amount in each top coin according to the percentages shown, no more, no less. At the bottom of the app is the total amount in USD you would need to invest to do this for your favorite coins.
How rich will you be if you follow this strategy?
There are currently an estimated 10.5 trillion dollars in existence. If you owned a millionth of the supply of US dollars right now you would own about ten million five hundred thousand dollars!
In the United States alone, at end of 2016, there were 10.8 million millionaires, according to a study from Spectrem Group's Market Insights Report 2017.
Credit Suisse estimates there are about 35 million millionaires in the world (including all financial and nonfinancial wealth, such as assets, collectibles, and homes). If we compare this number to 21 million, the total number of Bitcoins that will ever exist, we can see that there won’t ever be enough Bitcoins in the world for every millionaire to even hold just one!
Also, this doesn’t account for the disruption of other industries such as remittances, Gold as a store of value and many other new uses of crypto currencies that we can’t even dream of today. As an example, if Bitcoin overtook just 5% of the market cap of Gold, a single bitcoin would be worth approximately $24,000 USD.
But, “introduce any crazy coin name here” is so great, the technology is amazing, so exciting. It’s the future, my guts tells me!
Yeah right, the market doesn’t care about your hunches, white paper promises, or all those great technologies that people sell as the best thing since Coca Cola. Nope, only market cap, volume and related network effect can tell you what coin will end up being favored by the market.
You must re-balance every once in a while
About every 3-6 months you should take a look at the index and re-balance it. If any coins dropped in market cap sell them and re-invest the money on the top coins until you own the millionth of their supply. If there are new coins rising to the top you should invest in them until you reach the goal as well, no more (over invest), no less (under invest). If you don’t do this you are risking missing the upcoming coins and keep investing in the long term losers.
Don’t invest on coins that only briefly come to the top
(Especial thanks to @famunger for contributing to this point)
Even though market cap gives you a pretty good idea of the top 4-5 coins, as you go down the list you will see, every once in a while, some temporarily overhyped coins that come up but can’t sustain their ranking and eventually crash. Only invest in coins that manage to maintain their top rankings for at least 3 months or more. Don’t fall victim to the Fear of Missing Out (FOMO) so typical in this world.
Advantages of this strategy:
You will be almost 99% guaranteed to become a multimillionaire by owning the top coins the market finally ends up favoring. You will certainly sleep like a baby!
You can start investing with very limited funds and continue investing periodically. Even if you don't get to own the millionth supply of every top coin you'll be certain you did as best as you could with your limited resources.
You won't over or under-invest in any particular coin and thus keep risks at a minimum.
You’ll skip all the typical drama of investing in cryto. The Fear of Missing Out (FOMO), the Fear, Uncertainty and Doubt (FUD), the daily crashes, the pumps and dumps etc. will not rattle your nerves and send shivers down your spine every time they happen.
Disadvantages:
This is a boring, long term, no feelings involved, passive strategy, you will not have the adrenaline rushes and enjoy or suffer all the crypto drama. Picking winners is reduced to a simple to follow probabilities game.
There may be coins that gain 1000 percent in a few weeks that won’t show up in the index until their market cap grows to the top and which you will miss but, on the bright side, you’ll also miss the big losers, the suicide inducing and family wrecking crashes.
There’s still the slight possibility (the 1% chance) that the entire crypto world is a huge bubble that will never work, the Internet could come crashing down after an EMP attack or a meteorite could strike earth... In which case we are all screwed anyways and should worry more about food and bullets to fight the zombies...
CHECK OUT MY PREVIOUS POSTS:
These new Crypto Millionaire filters will help you find the best ranked value coins
How to bring normies to Steemit in three easy steps
Quantum Doom for Crypto? It’s all FUD and here’s why
WOW! Crypto investing app hits #4 trending on Google Play Finance! Just below Paypal and Zelle!
"It's Been Dismal" - Gold Coin Sales Slump As 'Bugs' Bounce To Bitcoin
Why China (or governments) can’t stop crypto
Tell the community what you think of this post in the comments below.
Follow me for updates news and commentary on "sane" crypto investing.
Happy crypto investing!
With so many coins and an avalanche of news on a daily basis, this app is a real life-saver.
As for new features, it would be cool to have the options of pulling up the performance (gain/loss against bitcoin and/or USD) of each coin for a given time period (days, weeks, months etc..).
O wow, I didn't know we had this app.
I don't have installed any app like this on my phone but I might give this a try.
I am curious those people who had it how they reacted when bitcoin crashed.Like you are seeing everything in red :)
@cryptoeagle! You just got Scammed by @sportic.
He is a fraudulent who thugs Steemians by luring them to make a Transfer of 1SBD or Steem for his 100% upvote of Value 0.01$.
He has also followed a Whole chunk of some 29k Steemians and gained around 17k followers which i suppose is Obvious when looking at his Following Number. Follow 4 Follow scheme I guess. Tho I have reported him as well, Everyone be Aware about him.
P.S. Posted it here for the Visibility, Sorry @suf1an
Thank you friend @mirhimayun!
Very useful information, I almost sent 1 SBD, thanks again
Is this app anything like blockfolio or does it do something else..
must have ! upvoted
Good share. Great information @cryptoeagle
Good news my friend, This is very useful.
It's a really awesome apps.I all ready uses this apps.
I'll give it a try.
Hope it will be worth it!
You convinced me.
First time hearing about this app and this investment strategy. Pretty dope. Thanks for the info!
I'll give it a try.
Hope it will be worth it!
You convinced me.
Resteem and upvoted
nice one @cryptoeagle
Good news my friend, This is very useful.
Getting rich is boring :P!
My advice for getting rich is as simple as 1,2,3:
Using this simple method you will be able to break the cycle of poverty.
Diversify 5% to 10% of this money into Crypto ;)
Very interesting article and the app looks great, will be downloading this in a minute.
This is indeed a LONG vision for owning a millionth of each top coin, starting out with only $100 a month will take some time.
I currently invest in undervalued coins around the $1 and less mark and then move profits into top 3.
Personally, I think its more achievable this way as there is more room to 10x your original investment.
Obviously, this can go down but so can the top 15/20.
Great article and looking forward to getting the app now :-)
That chit is the bomb man.
Another sensational update....of course, you being a tease since it isnt available just like my date last night but I digress.
This is quickly becoming an amazing application. All the upgrades you did are amazing. I am glad that you are getting the bugs worked out.
I will do another write up as soon as the new updates are released...any time frame?
Thanks Task! It should be ready this week-end. It's being beta tested right now but you know, there are always unforeseen little bugs here and there.
Hey, your date doesn't know what he missed, his loss! regards
By the way, what is the best way to contact you, I have an idea to run by you....
You use discord or steemit.chat?
I'm at Steem chat right now
I got a conference call to get on now...I will hit you up on there afterwards...see if you are still around.
"Bisexuality immediately doubles your chances for a date on Saturday night." -Woody Allen
I will have to take Woody's word on it....
But thanks for your support in my hour of need. LOL
Nahh, be who you are and enjoy your freedom in the meantime. Girls who can talk about shoes and malls are a dime a dozen, girls who can discuss the intricacies of the next ICO and the advantages of decentralization are 1 in a million!
Where can I find that?
Any ideas?
I knew you cheated on me! LOL!! Spank.
You dont ever answer your chat and I get lonely. 🤗
Oh no we can’t have you lonely.🤗
Spank.
Damn dude, this is becoming one seriously amazing app!
Get healthy and keep up the great work!
Thanks Dan, it's been and continues to be, a lot of work. Just released these updates to beta. Now, let's catch bugs and publish over the week-end. regards
I keep forgetting to do this! I think about it and then I forget again. I'm going to get on top of this right now! Thanks for all your hard work! I can't even imagine what goes all in to something like this!! :)
A lot of time and passion indeed! Every update is a challenge and you have to fight many unforeseen bugs but it's worth it just to be able to provide value and diversification to crypto investors. A lot of new people investing in single coins is very dangerous for the entire space so it's always a good idea that people diversify and invest for the long term. regards
@cryptoeagle - this is simply an outstanding post! Did not know about the Crypto Millionaire App, so I will have to check this out. Certainly when holding a portfolio, for risk management purposes it is wise to hold a number of assets in the portfolio to reduce risk. This is essential in my opinion in gaining wealth, while reducing risk- whatever your asset class is: stocks, bonds, cryptos, etc.
Keep up the great work you always do- looking forward to your next post! Upvoted & resteemed!
Thanks so much @wealth4good, such as fitting nickname! hehe. Check out the app, if you are a long term Crypto Investor you'll love it. I used to diversify my portfolio off a spreadsheet until, eventually, it turned into this app and, with the help of the Steemit community, it has grown a lot in features and users. Best regards!
that is damn true..
For everyone following this strategy, I have a public Google Sheets spreadsheet that feeds from coinmarketcap.com and will show you the percentages to invest in the top 10 or 20 coins each time. I'll keep it online until it comes to the app, which it is. The CoinMarketCapData sheet has the info direct from CoinMarketCap.com and refreshes frequently. The Crypto Millionaire Plan sheet pulls that data and calculates millionth of coins and percentages to invest.
https://docs.google.com/spreadsheets/d/1IpOOhswiS0GsWXijaTPkr8XEuX6r0PoIi7HjBD7aP-0/edit#gid=0
Thanks @stormrider, as you can see I have been busy with the app. Regards
Great post! Improve your posts payout reading
Outstanding as always @cryptoeagle. I've been toying with the idea of applying this strategy to the top 10 coins that use Proof of Stake instead of Proof of Work, with Ethereum at the top since it will be going PoS soon. I believe PoS will be dominant if cryptocurrency goes mainstream.
Excelente información, gracias por compartirla.
Very interesting and cool app. I am going to have to check this out after work. Thanks for sharing!! new follow here.
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Great information, thank you. Personally, I recommend to diversify even more. I look at the coins ranked higher than 500 on Coin Market Cap as having the most potential for growth. If a coin has a very low market cap today, then it's potential for growth is much greater than a coin which already has a high market cap. Just my 2 cents.
True, but do keep in mind the lower ranked the coins, the more risk! Most of the lower ranked coins will go to zero, no matter what their whitepapers promise.
You have to manage your risk and this app lets you do that. You can list lower rank coins on the app but I would recommend to have a healthy portfolio that also includes the higher ranked, less risky ones to offset huge losses.
I loved the Interesting fact that all users of crypto currencies today represent less than 1% of the number of current Facebook users. This was a big eye opener! I just started mining ethereum and this was a clear visual of the financial opportunity that crypto truly is! Thank you for sharing!
Thank you for commenting! Regards
Hello fellow Eagle,
At first I thought you had swiped my name when I saw your comment on Task's post, but here you are ... on a bit longer than I. 😛
I had never heard of this app, so thank you so much for posting and I love the how-to guide. I will totally upload this now and use it ... the guides are much easier for people like me who love visual more than words.
The helpful hints is also great! Thank you for this update. xx Eagle.
Hi there @EagleSpirit, Eagles are my favorite animal because they represent Freedom! They are so magestic and magnificent! Bald Eagles in particular. Glad to find a fellow Eagle!
Hi eagle, yes I game 1/2 Native American and of the eagle clan. My spirit animal is eagle too. I completely understand your love.
When I received nub eagle feather it was a very special moment to say the least. Eagles understand other eagles immediately. 🦅
I dont like the passive strategy I like adrenaline and rush
Haha, I hope you are young and can afford to start all over in case you lose your shirt
Yeah,you can always start again,if you work hard the sky is the limit
You got a 9.82% upvote from @postpromoter courtesy of @cryptoeagle!
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Excelente app te hiciste man. Felicitaciones. Esta muy buena. De seguro te llevo mucho tiempo pero parece ser muy completa. Felicitaciones ya la voy a descargar!.
En español me seria mas comodo :P.
Tiene traducción al Español y al Francés, de hecho mi idioma nativo es Español, así que es probable que la traducción sea mejor que la de Ingles! jeje Saludos
Ah buenisimo entonces. Che de donde sos?.
Nacido en Cuba pero vivo en Miami
Huu mira que bueno. Tengo que conocer Miami. Casi voy este año pero nacio mi bebe y esta complicado. Habia ofertas baratas para ir a Miami. Bueno un gusto y que bueno que hables Español.
This comment has received a 0.04 % upvote from @speedvoter thanks to: @hestiafull.
thanks for the update cryptocurrency news sharing sir
resteemit done
Thus a good information.
I will follow you to read more about crypto
Amazing! let's give it a try! Thanks.
Looks pretty good, I will be trying it!!!!
This is a great app! I hope more features will be added later. Right now, I would love playing around it to see which coin should I buy next.
actually just downloaded this app because of your previous blog on it, I like it so far and I also like the fact that you are adding features to it, thanks
crypto's are future..
Follow the more important announcement happened today about other coins.
Thats an amazing app.i hope it will help crypto traders more than before
Keep it up! Good job :)
crypto is one of the biggest opportunities since the invention of the internet itseif....great times to be around......
@magoo is sleeping now @magoo-1 on duty now.
Hlw author this guy owner multi ID and always comment by multi ID.This person always try to chest and get your reward.
You can check last report.
https://steemit.com/spammer/@magoo-1/comment-thief-and-spammer-report-3
looks great!
damn this is amazing gatting updates .. it look amazing
Got to check this app out. Make it easy to invest and stay afloat in the crypto game.
where there is money involved there is rich people.
the fun part is thinking about how we all could be one in 5-10 years time with crypto if we play our cards right :)
very informative your post.....it's a great news of cryptocurrency..............
The best to uprage. Goos share @cryptoeagle
Kiban cara nyan?