My Five Worst Crypto Investments 2017 and 2018

In this post I will talk about my worst performers. I am not trying to spread FUD, I like these coins or tokens enough to have bought them. I'm not saying they are bad coins, I just bought them to late and didn't sell them when I should have.

I recently wrote a post on my five best cryptocurrency investments. You can read it here.

when a investment goes bad I always double my coins. For example, If I invested $1,000 and now my $1,000 is only worth $100 I will at least double the amount of coins I have. I do this because it cuts down my buy in price so I will be able to sell sooner. For example, if I invest 1,000 and get 5000 coins at .20 and the price falls to .02, I can now buy 5000 coins for $100 and my buy in price will become .11 each coin. Now I only have to wait till the coin goes up to .11 to start selling.

I will often get brave and double my investment dollar amount, if I put in another $1,000 instead of just $100 I would have 55,000 coins at .036 and would only have to wait for a 1.5 cent price increase to sell all my coins. This year I don't think I will be doing this. Is all of this making sense? Do you see how this works? Let me know if you have any questions.

Below is a list of my top five worst investments less than one year old. All numbers are rounded up.

Tron (TRX)

Tron is trying to be a decentralized entertainment content sharing platform. This is my number one loser but its gone up in the past few days. Tron is a ERC20 token at the moment but they are changing over to their own platform on March 31st, the price has been going up because of this news.

Buy Date: 1/4/2018
Price Paid: $0.15
Amount spent: $3000
Amount of Coins: 20,000

I also bought the hype on this coin. Tron was a top ten coin for a while but crashed shortly after.

Current Price: $0.04 (this price was $0.02 last week so I was down $4,400)
Amount of coins: 20,000
Current Value: $ 800
Amount lost: $2,200
Time I Will HODL: 6 months to 2 years

Reddcoin (RDD)

Reddcoin is a social currency that aims to be widely used on social media networks. This coin has been around since 2014.

Buy Date: 1/3/2018
Price Paid: $0.015 (1.5 cents)
Amount spent: $3000
Amount of Coins: 200,000

I bought Reddcoin because I liked the concept, I can stake the coin for free coins and because if it takes off id make a lot of money because I have so many coins.

Current Price: $0.005 (half a cent)
Amount of coins: 200,000
Current Value: $ 1000
Amount lost: $2000
Time I Will HODL: 6 months to 2 years

Zclassic (ZCL)

Zclassic is a fork of Zcash. What Zclassic did was remove the 20% founder’s reward and slow start from Zcash. You can learn more about this at Doug Plok's website Coin Central.

Buy Date: 12/28/2017
Price Paid: $35
Amount spent: $1,000
Amount of Coins: 28.5

2nd Buy Date: 2/07/2018
Price Paid : $90
Amount spent : $1000
Amount of coins: 11

I had the opportunity to sell this coin for around $200 but didn't sell. The reason I didn't sell and bought more at a high price was because the coin was going to fork with bitcoin and a new coin called Bitcoin Private (BTCP) would be given to Zclassic holders for free. I knew the price of Zclassic would fall after the fork but I really wanted the free fork so I took the risk. I knew the price would fall but I didn't think it would go from $200 to $5. The good news is I got 40 BTCP.

Current Price: $5
Amount of coins: ~ 40
Current Value: $ 200
Amount lost: $1,800
Time I Will HODL: 6 months to 2 years

Einsteinium (EMC2)

Einsteinium is a cryptocurrency made to help fund scientific, technological, and philanthropic projects. It was founded in 2014 so its been around for awhile. Sounds good right? What could go wrong? Well, it could be hyped up and its price could be nowhere near its true value.

Buy Date: 12/16/2017
Price Paid: $2
Amount spent: $2,000
Amount of Coins: 1000

I bought this coin way to high, it was hyped up and I bought at the wrong time of year. I fell for all the hype surrounding this coin.

Current Price: $0.20
Amount of coins: 1000
Current Value: $ 200
Amount lost: $1,800
Time I Will HODL: 6 months to 2 years

Verge (XVG)

Buy Date: 12/26/2017
Price Paid: $0.20
Amount spent: $2,000
Amount of Coins: 10,000

I bought Verge because it is a privacy coin. It hides your personal data, such as IP-addresses and geo-location. Privacy coins have become very popular so I picked up some verge but I got in to late.

Current Price: $0.04
Amount of coins: 200,000
Current Value: $500
Amount lost: $1,500
Time I Will HODL: 6 months to 2 years

I didn't lose that much, to be honest I'm just happy I didn't get into Bitconnect. Click here. to see my biggest winners. Did you notice when I bought all of these coins? I bought them in the winter, all my winning coins were bought in the spring. I will not be buying in the winter from now on. I have 10 more bags I am holding but I got them in June and July so they are close to breaking even at the moment.

A coin I wanted to invest in was Steem and I feel like I really missed out I saw it at .40 wanted to buy at 1 and watched it rise to $7. That is why I'm here now, using Steemit is part of my research on the coin and so far i like it. I think right now is a good time to invest in Steem I am planning on buying Steem and Steem Power. Buying Steem Power should allow me to make more money from posts.

I will be doubling my coin holding of each of these coins while the price is down. Like I mentioned above if I do this now my buy in price will be greatly reduced and I can sell off the coins sooner.

New to crypto? Join Coinbase with my link to get $10 of free bitcoin when you buy or sell $100 worth of Bitcoin.

Legal Disclaimer:

I am not a financial adviser nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs.