Crypto Retirement

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Cryptoretirement: August 2023 in red again

created Michał Sielski1 Września 2023

August was another month of declines on the cryptocurrency market. BTC did not stay at 30 for long. USD. Now defends level 26. USD, followed traditionally by all altcoins. Most of them were discounted by more than 20%, but our cryptocurrency retirement portfolio shrunk "only" 13,70% in that time. How is this possible? We explain.

Check it out: Cryptoretirement: May with hope for a better future?

Crypto-retirement rules of the Forex Club Portal:

we invest on Binance Stock Market, which is not only the largest in the world, but also - so far - the most stable,
every month we allocate an amount of EUR 60 (when we started it was the minimum deposit threshold at Binance),
we want to invest approx. half of the funds in Bitcoin, as the "king of cryptocurrencies" and the indisputable flywheel of the entire market, but it is not a permanent rule,
in addition to BTC, at the beginning we selected 3 other cryptocurrencies: LINK, ADA and BNB, in which we will invest,
if it is possible, we deposit cryptocurrencies on "deposits" in Binance, recently also into the liquidity pool,
every few months we decide whether there will be other cryptocurrencies in the portfolio, most recently CRV, SOL, SAND, AXS, APE, GMT and BSW, we have completed our investments in LINK,
the investment horizon is at least 10 years.

CHECK BINANCE

At the end of July we bought Bitcoin (BTC)

At the end of July, we bought Bitcoin, hoping that the long accumulation in the area of 30. USD will end up with a price spike.

After buying for 60 euros, at the beginning of August 2023, our wallet looked like this:

30_07_Pokupie crypto-retirement

Unfortunately, everything was changed by the information that Tesla reduced its stocks in BTC, and although this took place some time ago, investors behaved as usual: they began to sell. The price of not only BTC has fallen, but with it virtually all altcoins.

The results of our cryptocurrencies in August 2023:

Binance Coin (BNB) -10,47%
Bitcoin (BTC) -10,66%
Solana (SOL) -12,60%
Cardano (ADA) -12,95%
Ape Coin (APE) -20,21%
Axie Infinity (AXS) -20,70%
Curve DAO Token (CRV) -22,23%
Green Metaverse Token (GMT) -23,50%
Sandbox (SAND) -23,85%
Biswap (BSW) -26,14%

So the value of our crypto wallet also decreased, but we are saved by the fact that we have an advantage in BTC and BNB. It was also important to transfer most of the funds in BNB from deposits bearing interest at 2,3% per annum to BNB Vault, i.e. the place from which the exchange draws funds, e.g. for loans to other users and other investments. The interest rate changes from day to day, but currently stands at a staggering 38,63%. For most of August it was over 20%. It's a sin not to take advantage.

At the beginning of September, our portfolio looked like this:

balance01_09_2023

We bought Binance Coin (BNB)

Due to the excellent interest rate of BNB Vault, of course, we buy the currency of the Binance exchange and immediately deposit it in a high-interest account.

After buying BNB, our wallet looks like this:

01_09_After the purchase

Crypto Retirement: A Summary

Recall: we deposited 43 times 60 euros, so we invested a total of 2 euros. On August 580, 31.08.2023, the account balance is EUR 2. In 620,79 months, our portfolio increased by EUR 42, i.e. by 40,79%.

Portfolio balance after 42 months: 2 620,79 euro (sum of payments: EUR 2580)

Loss in August: -13,70%

Profit after 42 months: +1,58% (+€40,79)

Next summary in a month!

Learn more about selected cryptocurrencies: