In an article from a few weeks ago, we introduced a simple project of ours: invest the modest sum of 100 euros in cryptocurrencies, with the aim of reaching, within a few months or years, an income sufficient to pay us a nice holiday, which duration will be determined by our ability and our good fortune. Our progress will be analyzed in a timely report on a monthly basis. We know that for investors who follow us 100 euros can seem a ridiculous sum, and we are also aware of the fact that the exercise of adding one or more zeros to the figures that we report cannot return the burden of making investments with much higher sums. of ours. However, our intent remains to demonstrate to the widest possible audience that even a small investment in the cryptocurrency market can lead to some small satisfaction.
For our first 100 euros in cryptocurrencies, we chose the Crypto.com platform, on which we made fairly conservative choices. 80% of our budget was in fact assigned to the two most famous and purchased cryptocurrencies, that is Bitcoin ed Ethereum, with an investment of 40 euros each. For the remaining 20 euros of budget, we instead decided to make 4 small bets of 5 euros, relying on Cardano, an open source project led by the former Ethereum cofounder Charles Hoskinson, Crypto.com Coin, the cryptocurrency backed by the platform that hosts us, and Dogecoin e Shiba Inu, meme coin sisters and rivals.
Our first results
As we have told you, already a week after our entry into the cryptocurrency market we have achieved an appreciable rise, supported above all by the boom of Shiba Inu, which in the last 3 months has benefited from an increase in its price of more than 600%. In a few days, without any previous experience in the sector and without specific skills in the economic field, we had an 8% growth in the value of our portfolio, which immediately gave us an injection of confidence to carry on our project. The good news doesn’t stop there. After exactly one month from the start of the journey, our results are even more important. Here is the current situation of our portfolio.
Cryptocurrencies: our situation after one month from the start
In this case, the numbers are much more explanatory than words. Our initial portfolio of 100 euro after exactly one month it is worth well 138,33 euro, with a growth of 38.33%. Although Shiba Inu has had a noticeable decline in the last few days, its effects on our portfolio are evident, since the 5 euros we invested in this cryptocurrency turned into 17.78 euros. Bitcoin and Ethereum also met our expectations, leading us to gains of 8.6 and 12.5 euros respectively compared to the time of our entry into the world of cryptocurrencies.
Important signals also from Crypto.com Coin, which is waiting for the launch of its Ethereum Virtual Machine Cronos it nearly doubled its value. While Dogecoin has moved a little, but in the direction of growth, Cardano brought us our first small disappointment, due to a small decline in its value: our initial 5 euros on this cryptocurrency are now 4.55. Since we have set ourselves to carry out at least one operation for each of our monthly updates, the choice to move our portfolio falls precisely on Cardano, which we sell by paying even a few cents of commission, thus finding ourselves on the 4.42 euro account ready to be invested. on other cryptocurrencies.
In the wake of Mark Zuckerberg’s statements regarding the Facebook metaverse, we therefore position ourselves on Decentraland, a cryptocurrency linked to the virtual reality platform of the same name which, like all the others involved in this sector, is experiencing a particularly fruitful moment, in anticipation of possible market developments.
Our cryptocurrency investigation
Reinvigorated by the success of our first month of activity in cryptocurrencies, we look to the future with optimism, aware that we have a solid mix of certainties in this sector and a rapidly growing reality. We therefore give you an appointment next month for updates on our investigation.