Cryptoretirement: November marked by the collapse of the FTX exchange

It was not a good month for our retirement portfolio based on investments in cryptocurrencies. However, it could not be otherwise, since we still have fresh memories collapse of the FTX cryptocurrency exchange. Despite the crisis, our portfolio gained from the beginning of the investment 68,78%.

Check it out: Crypto Retirement: October 2022 on the plus side, despite the shaky market

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

In early November, we bought Binance Coin (BNB)

A month ago, we bought BNB, which - in our opinion - is still significantly overpriced. After buying for 60 euros, at the beginning of November 2022, our wallet looked like this:

However, it did not help much, because the collapse of the cryptocurrency exchange was such a big blow to the entire market. The prices of all cryptocurrencies fell, regardless of what they are used for, what prospects they have, etc. A bear market is a bear market, everyone bleeds, the innocent too. This is perfectly visible in the results of all our cryptocurrencies, which have become much cheaper, despite the fact that we have been observing a slight rebound in the last few days.

Results of our cryptocurrencies in November 2022:

• Binance Coin (BNB) -8,44%
• Ape Coin (APE) -10,79%
• Bitcoin (BTC) -16,26%
• Biswap (BSW) -18,21%
• Cardano (ADA) -19,74%
• Axie Infinity (AXS) -21,40%
• Curve DAO Token (CRV) -25,95%
• Sandbox (SAND) -28,78%
• Green Metaverse Token (GMT) -29,10%
• Solana (SOL) -56,48%

At the end of November, our portfolio looked like this:

We buy (again) Binance Coin

As the Binance exchange appears in the current crisis as one of the main players who can - paradoxically - gain the most from the loss of a competitor after the dust settles, we buy an exchange token, i.e. BNB.

It is still far from the top of the list, and in the current situation it seems to be the most stable.

After purchase, our wallet looks like this:

Crypto Retirement: A Summary

Recall: we made a deposit of EUR 34 for 60 times, so we invested EUR 2 in total. On October 040, 31.11.2022, the account balance was EUR 3. In 443,30 months, our portfolio increased by EUR 32, i.e. by 1%.

Portfolio balance after 33 months: 3 443,30 euro (sum of payments: EUR 2040)

Lost in November: -19,82%

Profit after 32 months: + 68,78% (+ EUR 1 403,40)

Next summary in a month!

Learn more about selected cryptocurrencies:

1. Bitcoin - all about the "king of cryptocurrencies"
2. Link - a cryptocurrency that Intel has bet on
3. ADA - a token created by scientists
4. BNB - a token from the Binance exchange
5. SAND - better than Minecraft because on blockchain and NFT
6. SOL - still the cheapest blockchain platform on the market
7. CRV - a platform for earning on stablecoins
8. AXS - the gaming hit of recent years
9. APE Coin - the cryptocurrency of the most famous NFT
10. GMT - STEPN application - a new hit on the cryptocurrency market?
11. BSW - 107% token stacking platform