My 6 month wealth growing plan
Last year I gave up my job in favour of full time crypto investing and mining. So far everything has gone very well and made great profits from the crypto crash. Life is looking up and I could not be more happy with the results. I don't recommend everybody to go out and quit their jobs, but doing so was absolutely the best move for me. This change of lifestyle has meant that my crypto strategy has changed somewhat and I constantly reassess my plan and make changes accordingly. I thought I would lay out my current 6 month plan, all this is being funded by margin trading and short term holding profits. Any other income I get from mining and any other sources such as byteball will be put into Steem and Bitcoin.
In order of importance:
Buy Reddcoin daily until I hit 5 million Reddcoin. I am currently at a little over a million Reddcoin so I am about 20% of the way there. I am staking Reddcoin and intend to only hold it short to medium term, but depending on how well it does after the release of Redd ID really determines how long I hold. I could sell all of it if it really shoots up or some or none of it if it shows signs of long term growth.
Buy PIVX daily until I get to 10000 for the masternode, I believe in PIVX a lot, so investing now is in my opinion a no brainer. For me this is a long term hold. Holding a masternode and staking the profits are key here for long term profit.
I will be buying both of these currencies at a 50/50 split until I hit the Reddcoin goal, at that point I will move on to buying 100% PIVX
- Once I get to about 5000 to 6000 PIVX I will start to invest into NEM with the intention of staking and with the long term goal of getting the 3,000,000 NEM for the masternode. I will be doing a 50/50 split again for PIVX and NEM. I like NEM a lot and this is another long term hold for me. It will most likely take years to get the 3 million NEM but the goal is nonetheless in the back of my mind.
*** This will continue until I get the 10,000 PIVX for the masternode, at this point we are about 3-4 months away. For the remainder for the 2-4 months I will be investing about 90% into NEM and about 10% into Steem, I think steem is a safe future proof buy.
Things that I foresee could change my plan
There are absolutely coins that I will be monitoring very closely. These include but are not limited to:
- Antshares
- EOS
- Chaincoin
I think EOS and Antshares is a pretty safe investment, but chaincoin is one I will be keeping my eye on. The Chaincoin community seems to be making moves and while it is currently down, it is gaining popularity and more and more Chaincoin masternodes are popping up everywhere. @trevonjb said he would buy up and hype the coin if it drops to 10-20 cent and others are expressing interest. I am not recommending chaincoin but I suggest monitoring it.
Happy Trading
Viking
Great trading. Good luck and thank you for sharing your thoughts and doing. Pls follow me if you are interested in TA of financial markets including CC.
Thanks, I'll check it out.
i have read alot content about rdd to get a growth of almost $1 have bought almost 8000 coins of rdd but it reduces almost 20 % what are the chances that it will reach $1 and when ? only predicted time and from what point of view anyone is saying this?
I really don't think will hit a dollar, or at least not in a VERY long time. But it could hit 1-10 cent if RED ID is a success.
hoping they will launch it in start of august 2017 , lets see :)
Well it's what they are claiming they will do. We will have to see if they deliver or not.
yes that is the only thing we can do :)
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Hey @cryptoviking - your 6 month plans are really ambitious indeed - have you ever looked into Safe Exchange Coin (SEC/SAFEX)? If not, do some research about it, something is telling me that you might like it - it's a very cool project of decentralized marketplace that looks very promising and almost guarantees long term profits. I will also create an article about SAFEX on the upcoming days, so do not forget to check your steemit front page if I got you interested :)
-your steemit neighbour lifipp a.k.a Hash Courier
Thanks for the heads up I will check it out.
Very professional strategy i think but what are the special advantages of beeing a masternode? Thanks.
Well a masternode pays you for transaction validation. So depending on what coin you have a masternode in, you will get regular payments for your trouble. For Masternode and staking coins like PIVX the amount earned for your masternode is higher than staking, but you can stake the rewards you get from the masternode.
Nice...i Upvoted and Followed You !!!
Thank you :)
I hope you will achieved your goals!! Best of luck @cryptoviking!!
I appreciate that, the same to you :)
Gave me a couple new coins to look into! Thanks for the post.
idk why I've just never looked into nem I guess I will rn haha, have you looked into the basic attention token BAT? I really like the founders credentials and the mission.
also mcaffe coin may be an ico to watch, coming in about 2 months I believe
I have only glanced at BAT token situation. I am a brave browser user on all devices already. I understand how we will earn BAT by using the browser but I am not knowledgeable enough on the coin to understand why people are investing in it.
Will it be a masternode coin? Or maybe stakeable? I'm just wondering what incentive there is to hold the coin because if it's the case that the coin is earned by watching ads and there is no further use for the token I'm thinking the value won't increase or will just decrease as availability increases.
Interesting strategy, keep up the focus and clarity ;)