Crypto Retirement

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Crypto-retirement: August 2022 is threatening with further drops

created Michał Sielski1 Września 2022

Another month of declines on the cryptocurrency exchanges is behind us, although not as sharp as the last time. However, analysts warn that this is not the end. On the other hand, the markets are so oversold that there is a growing group of experienced traders who shyly remind you that such periods are the best time to expand your portfolio with more assets. We do not listen to one or the other and stick to our strategy: like every month we buy another batch of cryptocurrencies. Despite another weak month on the market, our cryptocurrency retirement wallet is still in the black: Present in several = 115,40%.

Check it out: Crypto Retirement: July 2022 with a decent rebound and profit

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

Cryptocurrencies as the largest stock exchanges in the world. Good or bad?

A month ago, we invested risky, buying "hot" Green Metaverse Tokens (GMT). This time, we buy one of the largest and most stable cryptocurrencies, i.e. Binance Coin (BNB).

Let us remind you that after the last purchase for 60 euro, at the end of July 2022 our portfolio looked like this:

wallet

There were many indications that this was the end of declines, but we lost some of the rebound in August. At the end of the month, the global stock indices plunged again, and with them the entire cryptocurrency sector, increasingly correlated with the mainstream economy. On the one hand, one can complain that it is no longer a safe haven independent of the movements of global capital, but on the other hand, it may indicate market maturity.

Either way, the facts are that the valuation of our assets has declined.

The results of our cryptocurrencies in August 2022:

Binance Coin (BNB) -4,34%
Cardano (ADA) -12,21%
Bitcoin (BTC) -14,22%
Biswap (BSW) -18,04%
Solana (SOL) -20,56%
Curve DAO Token (CRV) -20,70%
Axie Infinity (AXS) -21,95%
Sandbox (SAND) -28,16%
Green Metaverse Coin (GMT) -29,40%
Ape Coin (APE) -33,93%

So at the end of August, our portfolio looked like this:

wallet01_09_22

We buy Binance Coin

This time we decide to buy a token that was the most stable. We are buying BNB, even though there was no big discount in August. In our opinion, however, this proves the strength of this cryptocurrency directly related to the Binance exchange.

After purchase, our wallet looks like this:

wallet01_09_22 PURCHASE

Crypto Retirement: A Summary

Recall: we made a deposit of EUR 31 60 times, so we invested EUR 1 in total. 860/01.09.2022/XNUMX, the account balance is 4 euros. Our portfolio increased by EUR 006,44, or 30%, in 2 months.

Portfolio balance after 30 months: 4 006,44 euro (sum of payments: EUR 1860)

Loss in August: -16,52%

Profit after 30 months: + 115,40% (+ EUR 2 146,44)

Next summary in a month!

Learn more about selected cryptocurrencies: