Finally Breakeven In Cryptocurrency With Bitcoins



Today, 1st November 2017, I successfully injected an additional SGD 10,000 into cryptocurrency, namely into Bitcoins through fiat-cryptocurrency exchange Quionex, which allows purchase of Bitcoins and Ethereum with American Dollars, Singapore Dollars and Japanese Yen.

So following my massive selling of all my ALTCoins to invest into Bitcoins, I had made a startling rookie cryptocurrency mistake: not focusing and being freely investing in whichever ICO/hype that came about.

My first phase of investment was SGD 75,000; which is about USD 53,000. After trying to invest into different ICO and tokens and ALTCoins, the amount whittled down to USD 46,000 - a USD 9,000 loss.

I decided to stop being all over the place, and focused.

I read more about Bitcoins, its history, its roadmap. I found three reasons why Bitcoin will be even better in 2018 and beyond.

I found and think that

  • Bitcoin is the gold standard of cryptocurrency
  • It is stable, mature, well known, well utilized
  • First to be mentioned and discussed
  • Easy to be regulated (not decentralized) and ledgered - important for regulations/regularity

The last point is the key point, because any cryptocurrency WILL BE MASSIVELY ADOPTED when governments approve it, and governments are more prone to approve something that CAN BE REGULATED rather than stuff that allows anonymous payments etc (which is good too, but not as popular as openly centralized stuff).

Just different.

As of today, with the additional SGD 10,000; I will need to ensure my Blockfolio shows consistently that the portfolio is worth a min of USD 60,700 to breakeven. Anything above that is profit.

Given my (limited) understanding of Bitcoin - I am thinking that Bitcoin is possibly able to grow in value to USD 50,000 all the way to crazily USD 1,000,000  per Bitcoin.

See my Bitcoin cryptocurrency investing strategy here.



join the passive income family

Don't drown in the details - get the free fundamentals of passive income and early retirement and make your first $100 online.

Join the passive income family & newsletter below and get a bonus "Boring Blueprint To Passive Income & Early Retirement"

  • Learn how I started with less than $100 in my bank account from 2005-2008
  • ...turned my life and money around and by 2014
  • ...paid up my $390,000 flat in full in less than 5 years
  • ...starting making USD 40+ online per month
  • ...invested in dividend stocks for passive dividend income for recurring cashflow...for life!

You will also get subscriber-only Passive Income Tips, Starting & Growing Online Businesses Updates, Special Offers/Discounts and More - see you on the inside!

Talk soon!


Nigel

Please note that all fields followed by an asterisk must be filled in.

No spam ever - your email is never shared and you can unsubscribe anytime with one click.

Enjoyed this article? Share it with your friends by clicking one of the buttons:

Even better - share your thoughts and comments below:


Back To Top

Search In NigelChua

Current Projects

Nigel Chua

Nalco Group

Therapy Entrepreneurs

Xtend Health Asia

Wisdom Of Seneca

Bee Pollen For Health

#1 Recommended Online Business University And Platform

Solo Build It!

More than 95% of my online businesses and publishing works use the Solo Build It platform, for good reason. Find out here.



GetResponse Email Marketing

Building a relationship with your audience, customers and readers are highly important for any offline and online business, and I recommend GetResponse for their services, great price, ease-of-use.

Try GetResponse today (1st month free)

Bonus: learn how to use an email autoresponder



The Hoth

TheHoth can help to outsource your guest posting, article writing and backlinking marketing activities. Visit them here.



Google Suite

Google Suite (GSuite) is THE recommended Google tools for email, calendar, documents, sheets - for productivity  and communication.

GSuite/GMail one month free trial available here.



Shopify

Shopify has made it very easy to start an ecommerce business, solving most of the tech and logistical barriers and even has product suppliers with Oberlo!

Try Shopify today

Books I'm Reading

Holy Bible

Tribe Of Mentors

Seneca Letters From A Stoic

Seneca On The Shortness Of Life

See my full book/read list here.

Blogs I'm Following

Tim Ferriss

Pat Flynn

Tony Robbins

Ramit Sethi

Personal Goals

SGD 2,000,000 invested in dividend stocks with average 5% returns per annum by 45

SGD 2,000,000 in cryptocurrency

Owning, affording and living in a landed property in Singapore (or relocated to another country without worry of money) by 40

Publish at least one book by 40 years old

Online businesses serve readers and clients well (ie readers make more money, have happier/freer life etc), and website makes SGD 10,000 per month

Ongoing: spend more quality time with children, wife, family, bible, God.