Investing in Cryptocurrency
Notice how I said “Cryptocurrency” and not “Bitcoin”
…Because this post isn’t going to be about investing in Bitcoin. But rather about investing in all the alternative cryptocurrencies out there. Also known as “Alt coins”.
As Bitcoin continues to surge in value, it is also getting a lot more attention in mainstream media. At the time of writing this, one Bitcoin is worth 14 000 USD. And at some point in 2018, it will reach 41 000 USD. That’s the current value of 1 KILOGRAM of gold. That’s INSANE! 1 Bitcoin will be worth more than a kilo gold. I don’t think anyone would ever be able to predict that 5 years ago. And “experts” (most of them self-proclaimed, so take this with a grain of salt) are saying that it will reach 1 million USD in the next 3 – 5 years.
Now for the actual point of this post. I will not be investing in normal Bitcoins at this point due to the unstable market and the insane transaction fees. Seriously, the absolute minimum fee for one Bitcoin transaction as I’m writing this, is over 20 USD. That really eliminates the whole idea of being able to make small quick transactions.
For this little project of mine. I will be investing in a set of alternative cryptocurrencies. The list mainly includes the following:
- Ethereum Classic
- Bitcoin Cash
- Bitcoin Gold
…And i also bought 4528.16 Dogecoins for around $12. Just for the lolz. At it’s current value of only 0.002 USD per coin, I don’t expect it to increase massively in the near future. Especially since the Doge meme ended up at the graveyard quite a while ago now.
My main focus will be Litecoin. As it is the 3rd most popular cryptocurrency right now (Ethereum being the 2nd most popular) and it’s only worth about 140 USD as I’m writing this. I currently own 1.25 Litecoins, and i’m crossing my fingers that the value won’t increase all to much until i have gotten the chance to invest a little bit more (I’m a poor little thing).
I’ll write an update post sometime during early 2018 to let anyone who reads this know how it’s going.
On a last note. I’m also currently working on a cross platform paper wallet generator. I’ll update this post once I’ve published it.