Intro
Welcome to week #2 of my journey to a 100x portfolio. Last week I chose Mainframe (MFT) for it's public OS launch, which was yesterday. In the week #1 article my buy was placed at 0.00000075 sats and I was looking to sell at 0.00000090 on April 14, 2019.
Buy Order Placed
Sell Target Reached
Looks like we're 1 for 1! We have a long way to go until we're making the big bucks but for now we turned about $220 into $264 (the 20% gain we were looking for).
Remember to place your sell order immediately after buying your position. There's nothing worse than checking into your portfolio and seeing that you missed your target because you forgot to place that sell order.
With that being said, let's move on to this week's choice: Cardano.
What
I'm choosing Cardano this week because they have a feature release called Shelley. Essentially Shelley is the implementation of PoS, or Proof of Stake, which is a much more energy-friendly way to secure a blockchain.
When
According to the Cardano community Shelley will be implemented on mainnet mid-April 2019. It is worth noting that there will be a roadmap update tomorrow April 17, 2019 or Wednesday April 18, 2019 at the IOHK Conference in Miami.
Why
Why is this exciting and worth investing in? Anyone holding Ada (native Cardano currency) in their wallet have the ability to participate in staking rewards. This means you have passive income just from holding your Ada in the wallet, on top of whatever appreciation Ada has while you're holding it.
How
There are a ton of different exchanges that offer Ada, but here are a few from the top of the list based on volume:
HitBTC
Huobi
Binance
Upbit
Bittrex
Summary
When choosing one project to invest in for the week I weigh many factors including leadership, warchest (funds to build), viability of the product, and most importantly the excitement of the community. Since we're riding the wave of excitement for our weekly trades, this is crucial. At the end of the day this is a well-funded project with a very professional and polished development team. This week should be interesting and unless there is bad news at this conference, we should see a return close to 20% again.