What cryptocurrency I hold and why

When I started with crypto two months ago I mainly only had held the three top crypto coins because Altcoins weren’t avaliable on the exchange I was using and to buy them seemed a lot more complicated than using coinbase.  I have since learnt that it is quite an easy process and you can learn about it here if you want to do it too:

How to buy IOTA cryptocurrency

My holdings primarily comprise of the following in order of how much I hold in USD:

IOTA: $412

BTC: $310

Litecoin: $139

Ethereum: $50

Basic Attention Token: $43

Chainlink: $23

Request Network: $15

Cardano: $15

I have invested approximately $250

Below I will break out the reason I have each type of crypto:

IOTA: I work in an industry where the IoT (Industry of things) is really big, and seeing big names like microsoft, samsung, bosch and other large IoT players hop onboard makes me really excited that this crypto could actually go somewhere.  I got into this last week when it was between $1 and 2 per unit.

BTC: I only hold a small part of Bitcoin mainly because its the most well known and because its value is so high, there’s a lot of predictions out there such as John McAfee predicting that it will go to $1 million USD in the next 2 or 3 years, for that possibility alone I want to be riding that train. I got into bitcoin at approximately $4000 or a few months ago.

Ethereum: I originally wanted to buy and hold Ethereum after I listened to a podcast segment on CBC radio about it: https://goo.gl/C37PCB that and it is created by Canadian and everything we do turns to gold right! Ethereum is also my main preferred exchange pair, so in order to buy any altcoins I first have to buy Ethereum and then exchange that for which ever altcoin I want to buy.

Basic Attention Token: I don’t know too much about this other than it is something to do with online advertising and marketing.  I mainly am holding it because the coinbase exchange CEO tweeted a week ago that he would love to list it on coinbase and considering coinbase has over 10 million users any cheap coin listed on there would probably be scooped up by all its users increasing its value.

Chainlink: ChainLink won a competitive bidding process last year to win the opportunity to develop a Proof-of-Concept with SWIFT. SWIFT is the largest international banking communications system, with over 11,000 partner banks. When a bank needs to send an international wire they use the SWIFT network to process this. ChainLink is the only blockchain partnered with SWIFT to facilitate this process. I like crypto’s that have great reasons for being in the crypto space and are also partnered with major institutions or businesses.

Request Network: Request network is a decentralized payment network, One of the benefits of paying for your goods from a retailer through Request is that your payment information will never be shared or stored on the retailers side, which isn’t currently the case.  Also people have been saying on reddit that the price will skyrocket – always good to buy low sell high.

ADA aka Cardano: Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world. ADA is set to be avaliable in Atm’s in Japan primarily, I also bought it because it only listed a day ago and was reasonably cheap at 12c per unit.



Add a Comment

Your email address will not be published. Required fields are marked *