Hey guys I will give you short update about my journey in investing into the cryptocurrency world. The price per MIOTA did not change significantly, there was an increase to more than 5 USD per MIOTA but currently it trades again at around 3 USD.
Nevertheless I increased my stake of IOTA to now 466.3 MIOTA. An all those crazy coins out there which sometimes have a daily price frame of 30% I believe that the IOTA project will be the most successful one, as it actually delivers some value for a daily use.
In December BOSCH a big player in Germany did invest quite a huge amount into the IOTA foundation and according to recent announcement they are in contact with some big players from the DAX (German stock index). I can only guess some automobile companies, as they are probably highly interested in m2m paying, I am just mentioning autonomous driving etc.
Nevertheless the project has still some weaknesses like the transactions are not working a 100% properly, but I am sure this will be fixed with the release of the new wallet.
On reddit I have seen some really impatient daytraders who thought this is another get rich quick coin. For me it is not IOTA is for the long term and the devs are doing really a great job, some people seem to forget that this project is still in beta phase.
So why did the price not went up like crazy?
Well one point is that it is only available at a few crypto platforms and it is not so easy to buy some. You first have to buy Ether or Bitcoin (personally I recommend Ether due to the lower fees and the faster transactions). As I did my first investment it took quite a while as I did not have any Ether or Bitcoins. The second point is that some people still feel insecure about the current weaknesses.
Considering the upcoming announcement and the technical improvements I am really looking forward to 2018. For me the IOTA project is the one with biggest potential in the crypto world. Also the outlook that it will be available at more exchanges will have quite a positive impact, and compared to the other top ten market cap cryptocurrencies IOTA is currently available at the fewest exchanges so far.
But similar to dividend investing also there patience will be your best friend on that journey.
My goal is to have until the end of Q1 2018 1 GIOTA, so I am planning to still invest around 1 500 EUR in that project.
If you want to have more information about the project and the team behind the foundation visit iota.org.
All in all I have to say that dividend investing is and still will be my main focus, but at the same time I always looking for alternatives and until the point I have read about IOTA I did not see any point in investing into cryptocurrencies. I am also aware of the situation that this project might fail and I will loose the money I have invested. But luckily it is money I can get over it if I will lose it. As always only invest money you don’t need and about crypto think twice or even more times about it before you start investing.
Are you as well invested in some cryptocurrencies? What do you think about the IOTA project?
I wish all the readers a HAPPY NEW YEAR!!
See you again in 2018 with new posts :)…
Disclosure: I do not recommend any decision to the reader or any user, please consult your own research. Thank you for your understanding!