This is a part of my blog for my journey from £300 to £60000 through cryptocurrency investments. For an introduction take a look here
After nearly two months of no significant movement in my funds, I decided it is time for some action again. As I explained in a previous post I decided to add some more money to my gambling fund and see how it goes.
The strategy will be different this time and less strict. It will be closer to day trading but with bigger gaps and less moves. So I plan to add around £300 and invest them in ICOs but I will sell as soon as soon I have some profit that is close to 2x or even less depending on the sentiment of the market at the time. Most of the time I will sell all or the majority of my holdings and I will move to a new ICO or altcoin.
One of my first picks is Wabi where I will probably allocate the majority of my new fund. The company behind Wabi is Walimai which provides a solution to ensure product authenticity in China. I believe it is a good pick because it is an already working product, that has a very clear real-life application. Moreover, it aims at a huge market which is China. I guess this also one of my concerns since there are certain regulatory risks to the companies that aim the China market.
My other pick is Ethlend which is a company that aims to provide cryptocurrency based loans. I picked this particular ICO cause they already have a working product and a low hard cap which is always a good indication of how serious the team is. Moreover
Moreover both projects have a whitelist KYC process which I really like instead of the free for all crowdsales. I got approved for both so now I am expecting the dates for the sale which are 25 November for Ethlend and 28 November for Wabi.
I am optimistic regarding my new strategy (at least it will provide more action) and I will come back with an update regarding how the ICOs went.
Regarding my previous holdings not much have changed. They are still hovering around the prices I posted last time. Cindicator released a new product and that gave it a small bump in the price but nothing significant. I will keep you updated regarding any other change.
Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
What’s your process for finding a good ICO? Like what websites do you visit to weed through the hundreds I see popping up all the time?
Sorry @cryptoreports it seems that somehow I missed your question. I mainly use Crush Crypto to thin out the field. Moreover, I have the Cindicator app and sometimes the questions about upcoming ICOs is a good indicator of which ones are the most popular. Finally I watch relevant Youtube videos. I like the ones from @dmae because he summarizes lots of useful information.
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