Personal Cryptocurrency And Dividend Stock Investing Update 20171031

Following my 24th October 2017 Personal Cryptocurrency And Dividend Stock Investing Update, where I

  • Wired SGD 20,000 to my Lim & Tan brokerage account to start reinvesting into dividend stocks again
  • Sold off most of my coins, leaving Bitcoins, Safex, Ethereum (Miro) and Kucoin

Personal Cryptocurrency And Dividend Stock Investing Update 20171031

So now, I made a few more tweaks:

#1 Re-entering And Increasing Quantum For Dividend Stocks

I wired an additional SGD 30,000 to my Lim & Tan brokerage account, and spoke to my broker to help me allocate the total sum to a few dividend stocks based on the following criteria:

a) dividend yield must be 6% or higher
b) net asset value should be lower than 1
c) dividend payout must never have dropped, ever. At least maintain.
d) in stable/secure position

He then shortlisted 11 for me based on my criteria, and we will gradually allocate and buy into them at intervals based on price.

#2 Re-distributing My Cryptocurrency As Well As Injecting Additional SGD 10,000

In the end, I sold off all of my ALTCoins such as NAV and Kucoin, which were very good coins (NAV is powerhouse in anonymous transfers and some good plans; Kucoin KCS is a very intuitive and powerful exchange which I comfortably endorse, plus investing in them is good because you can get dividends of both KCS, BTC, ETH and other ALTCoins).

I am going heavy/all-in into Bitcoin for a few reasons:

  1. To simplify my cryptocurrency investing.

    Cryptocurrency investing and day trading has A LOT of opportunities, but I simply do not want to spend time or effort to optimize, because of my responsibilities to my business, family, children.

    Just put into cold storage like Trezor, and leave it be. Simple.

  2. I believe in cryptocurrency, but I believe in Bitcoin as THE GOLD STANDARD when it comes to cryptocurrency.

    In the end, all cryptocurrency highway leads to Bitcoin. I spoke to my wife about investing a little more into Bitcoin, and only when she approved it, we okayed an additional SGD 10,000 - and this is our hard stop of fresh funds into cryptocurrency investing.

    Read on why I believe Bitcoin will increase even more in value in 2018 and beyond

When I entered the cryptocurrency investing arena, I entered at USD 3700 per Bitcoin. That's roughly one month ago.

Yes, the price was lower at that time because China's government issued a ban on Bitcoin Exchange there, so I entered at a good price. When I started to buy more ALTCoins, having to buy Bitcoins TO BUY ALTCoins, BTC prices started to normalize and increase to USD 4000, then USD 4200...and slowly but gradually increased to USD 5000.

There was hard resistance at USD 5000 for a while, but then it broke through and slowly inched higher. I re-entered Bitcoin at a few price points:

  • USD 5380 (October 25th, 2017)
  • USD 5684 (October 26th, 2017)
  • USD 5920 (October 26th, 2017)
  • USD 5896 (October 26th, 2017)
  • USD 5745 (October 29th, 2017)
  • USD 6155 (October 30th, 2017)

So it's gradually climbing: higher lows and higher highs.

I am not sure if they may be a "correction", but we are always having opportunities to buy during dips which happens occasionally.

If you see the picture, the value of my portfolio is currently about USD 51,000. Basically, because I was a dumbass and didn't do my research, my original investment amount of SGD 75,000 (roughly USD 53,000) would have gotten me around 14 Bitcoin then.

I HAD to flaff around and play and learn the hard way of ICOs, hypes, shills etc, and by time I learnt the important stuff, I had lost around USD 25,000.

By re-entering Bitcoin and focusing there, my portfolio had also stabilized and hovered around the USD 51,000 range, so I need another USD 2,000 to "not lose money" (back to USD 53,000 which is roughly SGD 75,000).

Yup...if I had just bought Bitcoin from beginning, I'd easily have realized a net profit of 14 X USD 2000 gain per Bitcoin = USD 28,000.00

So, I hope you can learn a bit from my mistake and focus on winners, rather than hype, shills and ICOs out there. Lots of people want your money.

Back to Bitcoin. If you are seriously looking to enter cryptocurrency investing, please:

So with my last SGD 10,000 injection, that makes my baseline target as USD 60,714.28 - which I hope will not drop lower than that in the next 3-5 years. I doubt it, because I believe that Bitcoin should go higher ($50K+++ per coin).

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.


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