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.

Where to next?

Head to Home Page

Start with these:

  1. Start Here
  2. FIRE Manifesto
  3. FIRE 101 and
  4. The Passive Income Lifestyle Framework.

They are my recommended to start with articles that ties in the entire framework, philosophy and working model of FIRE Lifestyle

Save-Earn-Invest More Articles

  1. Ruthlessly Cull Unnecessary Expenses
  2. Respect The $10s
  3. Small Tweaks To More $10s
  4. $150K+ By 35 - Reality Or Delusion?
  5. Start An Online Side Hustle With Solo Build It
  6. Start Investing For Passive Dividend Income In Just 3 Days
  7. How To Retire With $3 Million
  8. Invest To Spend On Luxury & Liabilities (Whatever You Want*)
  9. Shocking Maths Of Early Retirement (It's Less Than You Think)

See more Save, Earn & Invest More articles here.

Others

  1. Contact me by email at (even just to say hi) at nigel@nigelchua.com
  2. See the latest articles and updates at the blog
  3. Check out my resource page to see the tools I use
  4. See my top two resources for online business below: Wealthy Affiliate (left) and Solo Build It (right) - both have very specific strengths and functions

Wealthy affiliate: #1 to learn how to build profitable wordpress online businesses

Wealthy Affiliate is my recommended for WordPress online businesses.

I've been a premium member of Wealthy Affiliate since 2015 and there are a number of pros to be with them, which you can read at my Wealthy Affiliate review here.

One of my favorite points of WA is that they have a try-before-you-buy forever-free membership which you can sign up here for free. No credit card needed.

solo build it (sbi): #1 for offline businesses local search engine ranking, traffic and lead generation

Solo Build It (SBI) is my #1 tool for local search engine optimization (SEO) domination as well for online marketing which I've been using since 2010 personally for multiple projects.

Read why I chose Solo Build It...

...and more importantly, why I still stay with Solo Build It (SBI) till today and use them exclusively for all my SEO, traffic and e-lead generation.


Back To Top