I watched a video on funding but it didn't answer all my questions regarding implementation.
I'm new to Crypto and with limited research developed this plan.
I have Coinbase/GDAX and Binance accounts currently. No coins bought yet.
$1,000 fund for our 1st foray into the Crypt of doom or BOOM.
All of your thoughts and recommendations are greatly appreciated.
29% In top 5 major cap coin picks = $290
For stability with moderate long term growth.
Example; BTC, ETH, LTC, ADA, XEM
$290/5 = $58 per coin on average, or 5.8% each
I would carefully but fairly quickly buy $190 of these.
Reserve $100 cash waiting to be played on lightning market drop -25% placed orders.
Whats the correct term for those lightning type orders? Limit buy?
Place in cold storage.
29% in very good consensus smaller cap Alt coins.
Moderate risk, greater upside, mid to long term hold.
Slightly more diversified in to 6 coins.
$290/6 = $48.33 per coin, or 4.83% each
Buy carefully but quickly, cold storage.
29% in reserve for Day Trading
Consider that the above mentioned 58% is relatively safe, I would risk this 29%.
This funding & execution part is where I need the most help.
Buy 50/50 ETH & LTC for the lower fees?
60% ETH/40% LTC because Ether pairs more?
What Crypto do I need and how to balance this portion of fund?
I have assumed most of the day trades would be on Binance.
3% in BNB to pay for trading fees with 50% discount
$1,000 x 3% = $30 - Is that about right for day trades?
10% for ICO's
I would pick 1-2 ICO to start with.
$100 for one or $50 each for two. Should I buy ETH for these?
I just like the idea of dabbling in and learning about future uses of blockchain.
Holding pattern depends on market and news but generally long term.
Do you cold store them or keep it in a wallet?
Earnings, if any, from that initial fund would be recycled back in to
portfolio using the same percentages for each category in general.
One minor adjustment I expect is to add more small cap Alt's, but still keeping them at 29% total.
I think they have more growth potential than Bitcoin per se, but I tread carefully.
Blockchain seems to have monster real world usage growth in 2018 and forever.
Picking the apple requires very close inspection.
Again, all of your insights are very much appreciated.
Ha, my very 1st post here, thanks for the forum also !