Dividend Magic

Saving and Investing towards Financial Independence in Malaysia

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Cryptocurrency Portfolio Update – December 2018

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Filed Under: Dividends 0

My Cryptocurrencies (A Short Update)

The last update was December 2017. A year ago. Cryptocurrencies aren’t at all popular right now. One bitcoin is worth USD3.2K as of today, one-fifth of its high last year.

I call it a portfolio but in actual fact, I only have 3 different cryptos ie. Bitcoin, Ethereum and Dash. The total value of which comes up to USD288.00.

Same time last year, my portfolio was at USD628.59. Right now, I’ve got more currencies, but the total value has dropped by 55% in a year.  Go figure.

Of these, Bitcoin makes up 77%, Ethereum at 22% and Dash at 2%.

Genesis Mining

With the fall of Bitcoin’s prices, I’ve had a few mining contracts lapse as they were no longer profitable.

Return on Investment (ROI)

In total, I’ve put in only USD93.20 as my initial gross investment. My ROI is still intact, at USD288, ROI is still at 209%.

I’ll continue to mine cryptos with the contracts I still have with Genesis but will not add any more until prices stabilize. Still toying with the idea of purchasing some currencies – mainly Bitcoin and Ethereum at the prices now.

End.

It has been a roller-coaster ride in the crypto community.

With the markets heading for a volatile few months, I foresee spooked investors flocking to traditional safe havens such as gold and non-traditional ones like Bitcoin as they seek shelter from stock volatility.

As always, due diligence and caution. 

 

Bitcoin and Genesis Mining ROI in Malaysia – September & October Update

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Filed Under: Cryptocurrencies, Investment 14

Cloud Mining on Genesis

Cloud Mining Malaysia

Genesis is back and its daily payouts are as scheduled. They have however raised their minimum payout threshold to the following:

  • Bitcoin 0.0025 BTC (was 0.0020)
  • Litecoin 0.002 LTC (was 0.001)
  • Zcash 0.001 ZEC (was 0.00005)

I’ve also increased my mining powaaa in November.

Genesis Mining Allocation Dec'17
Genesis Mining Allocation Dec’17

I’ve doubled my Bitcoin, Zcash and Monero mining rates. Also increased Ether’s. The next objective is to increase Ethereum’s mining power as I see great potential in the currency.

Return on Investment (ROI), This is Getting Big

Dividend Magic's Cryptocurrency Portfolio 2017
Dividend Magic’s Cryptocurrency Portfolio 2017

I have to admit that I’ve kinda lost track of my Bitcoin returns. I mine it personally on my PC as well as on Genesis. But here is my total returns for 2017.

My cryptocurrency portfolio jumped from USD171.34 in October to USD628.59 today, in a short span of 2 months. Of course, this is mainly due to the recent hype in all things crypto.

Mining of crytocurrencies started out as a small personal project for me back in July this year. I started out with USD93.20 back then on Dash contracts. I’ve not put in additional money, all of my proceeds from mining has been reinvested into more mining contracts.

I should get back my initial investment of USD93.20 from Dash contracts alone next year.

NiceHash Miner Hacked

I’m sure most here are privy to the recent hacking of NiceHash. I myself have lost a chunk of unclaimed Bitcoins from mining with them. It is frustrating but I fear I will never see those coins ever again.

End.

My cryptocurrency portfolio currently stands at USD628.59, fluctuating every other minute as we see the currencies swing up and down.

To those that are invested, I’d recommend ignoring the swings and focusing on real, credible news. Think logically and remember, investing is always for the long term.

To those that are interested in getting in on the action, I’d suggest:

  1. Cloud Mining – I go with Genesis
  2. Purchasing and holding onto your currencies. I use Luno (My promo code: LNDVDMAGIC50)
  3. If you’ve got a good PC lying around, try mining it yourself using NiceHash!

If you’re planning to purchase mining contracts with Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

A big thank you to everyone that has been using my referral code. I’ve received many many additional hash power thanks to you.

Onwards and upwards! May the currencies swing in your favor

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