Innoware’s Weekly Blog – Edition 4 – December 3, 2017
This week, we will cover crypto currencies especially alt coins. Before we delve deeper into alt coins, let us see where Bitcoin is as of now.
If you are monitoring Bitcoin, you will notice that the whole world is talking about it, BTC.X is at $11,500 and CME will start Bitcoin Futures from December 18,2017. This means there is more upside to Bitcoin price. I firmly believe that Bitcoin will see a price of $15,000, then $25,000 then $100,000 and eventually $1 million in 5 years!!
While I am in Bitcoin, I think I missed the bus big time. As you are aware, I do Volatility Trading. And I know some friends in StockTwits, who have made $5 million shorting Volatility over the past 5 years. This is chump change as compared to one friend of mine in StockTwits who owns 10,000 BTC.X which is valued at $100 million dollars. He entered Bitcoin in 2009 at a price of 0.00008$ per BTC.
While Bitcoin is going to be out of reach, I did some research and bought 1.52 million coins of KIN for $107 and 1.05 million coins of ERC20 for $465. I am confident that these alt coins will touch 1$ or more with the passage of time.
I also bought COB (cobinhood.com) which is developing a platform for trading cryptos without any fees. I bought COB for 11 cents and they already increased to 19 cents in a week.
So how does one go about buying these alt coins?
You need to first have an account in GDAX.com. Transfer some US dollars to GDAX and buy ETH (Ether). Next open a wallet in exodus.io and transfer these ETH to your exodus.io wallet. Then go to etherdelta.com where you can link your exodus.io wallet and transfer the ETH available in that wallet to etherdelta.com and buy alt coins like KIN, ERC20, COB, LEND, GRX, PFR, XMRG, PPT, DRGN and VEE – all of which I have!!
Why I think crypto currencies will gain acceptability and continue to rise?
For my Volatility Trading, I opened accounts in TradeStation.com and InteractiveBrokers.com. To fund the accounts, I did money transfer from my Bank of America account via ACH as well as wire into these two account. It took 5 full days for the money to show up in the brokerage accounts. And I had to pay some fees to the Bank as well for this slow service. Same happened when I moved some US $ from my bank account to GDAX.com.
But once my money came to GDAX.com, I bought ETH (Ether) which showed up in my GDAX account in a matter of seconds. I was able to transfer these ETH to my exodus.io wallet in seconds. Again, I was able to transfer these ETH to etherdelta.com in seconds. And in an instant, I could buy the coins like COB or ERC20 or KIN.
Within a week, I was able to sell some of my COB for 19 cents which I bought for 11 cents.
The speed of transfer of crypto currencies is amazing. I am convinced the cryptos are here to stay. In future, every online order will accept cryptos, every app on iPhone or Android will have crypto wallet and the usage possibilities of crypto currencies are endless.
But will all cryptos and ICO succeed?
Definitely not. Time will tell which cryptos are the winners.
In the mean time, Short Volatility trade continues to work. So, don’t leave that!!
Innoware @ StockTwits