11-14-2021, 07:47 AM
I own every coin on coinbase and keep them within 10% of each other.
<!-- SC_OFF --><div class="md"><p>I've been doing this for about 9 weeks and I am pleased with the results. </p> <p>I am not telling anyone else they should do this, I would just like to discuss my experience doing so. </p> <p>Basically what I did was convert all of my funds to equal amounts of every coin available on coinbase. At that time it equated to $300 per coin plus a little extra in DAI and algorand. In that time coinbase decided to really rile things up and add 8 coins last week. I'm not going to lie, that messed up my ecosystem I spent 2 months building. It was the last 4 coins in a single day that really messed with my mojo. </p> <p>But..... I'm still way up. I have all 8 new coins from last week and I think 2 others in the last 2 months and all coins are above $400. </p> <p>I started this Sept 10th as the entire market was crashing, but I noticed very quickly that even though all my coins were down, they were down a significant percentage less than the actual coin in that time. So even though I was down because the entire market was down, I was down a lot less than if I just held everything. </p> <p>I've watched the volatility of some of these coins for some time, and theorized that you can make money by capitalizing on how much and how fast they move. I started by testing the waters and only converting $10 of each coin, and after a few weeks decided to go all in after seeing the results. </p> <p>There is a lot that goes into my logic on this strategy but the basics are, once the coin at the top is over 10% of the coin on the bottom, I convert 3% and feed the bottom coin up. Coinbase charges a 1% conversion fee, which I am fine with since I am trading at plus 10%. </p> <p>Some coins go absolutely crazy out of nowhere. If that happens, if I end up using the same coin more than twice, I'll begin taking that 3% and converting it to DAI, a stable coin worth a dollar that earns 2% interest. And a lot of times when a coin shoots up like that it comes crashing back down, do I'll use that DAI to scoop that coin back up at a lot cheaper than I sold it. If it doesnt come crashing back down then I'll feed a few more bottom coins with that money</p> <p>I've posted what I've been doing a few places and for some reason what I am doing seems to genuinely anger people, and I'm not sure why. I'm not telling anyone to do this, I just want to discuss how this is going for me. I also understand how taxes work and am ok with that. </p> <p>Like I said, my approach is a little complicated so if anyone has any questions I'll stick around for a few hours.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/puddlesofmustard"> /u/puddlesofmustard </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qt84nn/i_own_every_coin_on_coinbase_and_keep_them_within/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qt84nn/i_own_every_coin_on_coinbase_and_keep_them_within/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I've been doing this for about 9 weeks and I am pleased with the results. </p> <p>I am not telling anyone else they should do this, I would just like to discuss my experience doing so. </p> <p>Basically what I did was convert all of my funds to equal amounts of every coin available on coinbase. At that time it equated to $300 per coin plus a little extra in DAI and algorand. In that time coinbase decided to really rile things up and add 8 coins last week. I'm not going to lie, that messed up my ecosystem I spent 2 months building. It was the last 4 coins in a single day that really messed with my mojo. </p> <p>But..... I'm still way up. I have all 8 new coins from last week and I think 2 others in the last 2 months and all coins are above $400. </p> <p>I started this Sept 10th as the entire market was crashing, but I noticed very quickly that even though all my coins were down, they were down a significant percentage less than the actual coin in that time. So even though I was down because the entire market was down, I was down a lot less than if I just held everything. </p> <p>I've watched the volatility of some of these coins for some time, and theorized that you can make money by capitalizing on how much and how fast they move. I started by testing the waters and only converting $10 of each coin, and after a few weeks decided to go all in after seeing the results. </p> <p>There is a lot that goes into my logic on this strategy but the basics are, once the coin at the top is over 10% of the coin on the bottom, I convert 3% and feed the bottom coin up. Coinbase charges a 1% conversion fee, which I am fine with since I am trading at plus 10%. </p> <p>Some coins go absolutely crazy out of nowhere. If that happens, if I end up using the same coin more than twice, I'll begin taking that 3% and converting it to DAI, a stable coin worth a dollar that earns 2% interest. And a lot of times when a coin shoots up like that it comes crashing back down, do I'll use that DAI to scoop that coin back up at a lot cheaper than I sold it. If it doesnt come crashing back down then I'll feed a few more bottom coins with that money</p> <p>I've posted what I've been doing a few places and for some reason what I am doing seems to genuinely anger people, and I'm not sure why. I'm not telling anyone to do this, I just want to discuss how this is going for me. I also understand how taxes work and am ok with that. </p> <p>Like I said, my approach is a little complicated so if anyone has any questions I'll stick around for a few hours.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/puddlesofmustard"> /u/puddlesofmustard </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qt84nn/i_own_every_coin_on_coinbase_and_keep_them_within/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qt84nn/i_own_every_coin_on_coinbase_and_keep_them_within/">[comments]</a></span>Kind Regards R