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Finally Making a Commitment

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@bozz
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So I did a thing this weekend... After reading a really awesome post last week about someone who took advantage of the bear market I decided to try and follow suit.

I lost track of the post, so I can't reference it, but basically the person took a fixed sum of money each month and put it into some specific alt coins.

They slowly but surely grew their holdings and now that we are at the beginning (?) of a bull run, they are doing quite well. I've always kind of felt like doing something like this, but for whatever reason (real life bills) I never took the time to carve out some funds for it.

Seeing the potential of doing something like this was the kick in the pants I needed. Can you imagine slowly accumulating BNB (Binance Token) from the time it was less than $8 per token until now when it has seen ATH's of $300+?

Given we are in a bull market, I realize this is probably the worst time to do this, but I knew I had to start sometime, so why not now.

First, I picked my amount. I feel like $100 a month is a pretty fair number. This allows me to put $20 a piece into five hand picked tokens. I decided to use my Coinbase account for this because it makes it easy for me to setup the recurring buy.

Watching the prices go up and down so much this past weekend, I wonder if monthly is too long of a time to wait between purchases, but I have to be responsible otherwise this could become a runaway train. I am already toying with setting up a similar five alt coin buy over on my Crypto.com account, but I can't justify the funds right now.

Rather than the "why", you probably care more about the "what", so here are the five tokens that I decided to set up on a recurring buy:

XTZ (TEZOS) $20 got me 5.04 tokens

I was already holding some XTZ through Coinbase that I got as part of their "Earn" program. I like that it pays staking rewards so I decided to just pick up some more.

ALGO (Algorand) $20 got me 16.85 tokens

The story on ALGO is pretty much exactly the same as the story for XTZ. Originally earned on Coinbase, staking rewards, yada, yada, yada.

XLM (Stellar Lumens) $20 got me 41.93 tokens

XLM I originally got as part of the airdrop from Keybase. Although it was cut short due to abuse, I still hold a decent amount of XLM. There has been some interest in the token from institutions and governments, so I think it could be a good long term hold.

REN (Ren) $20 bought me 17.26 tokens

To be honest, I don't know a ton about the REN token. It sounds like they are working on some kind of cross-chain operability. This one is more of a speculative thing for me. I had heard it mentioned (probably on Twitter) and figured why not give it a shot.

ATOM (Cosmos) $20 bought me .93 tokens

This one is another speculative one for me. I think I remember writing some posts about it back during my time with @oracle-d, but I honestly don't remember too much about it. At this point I will have to just wait and see...

I need to get a spreadsheet put together so I can track each of them from month to month. Coinbase has some nice reports, but I want something that I can track myself and maybe do some calculations on.

So there you have it. Are any of these going to pay off for me or am I going to end up broke and on the street? I guess only time will tell. Do you think I made some good choices? Am I crazy for starting this in a bull run? If I start doing this on Crypto.com which tokens should I look at?

I look forward to interacting with you in the comments!


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