I finally included Crypto currency in my portfolio after months of reading, understanding the technology and creating lots of accounts. Creating accounts is free so I figured that there is no harm to just create account of exchanges and wallets to get myself accustomed to the crypto world. It turns out that there are a lot of photo taking for identity verification and a lot of passwords to remember. A good resource to get your feet wet with Crypto is from GMGH Crypto toolkit. I would recommend any beginner to have a read at that before jumping in.
After a lot of reading, I think the block chain technology behind crypto currency has great potential in the financial industry and potentially more. However, I feel that it is also highly speculative now. Being a value investor, I am kind of allergic to speculation and I am struggling to find value in the sea of crypto currencies (1200+ of them with more popping up every month). This is especially difficult since there are no P/E, D/E or any other form of matrix to value the coin. What you have are just technical charts which I am not very well verse with.
What tipped the scale for me to finally take the plunge to invest in Crypto is the QASH ICO that just ended on the 8th November 2017. I had created a Quoinex account and got an email from them informing me of their QASH ICO. I read their white paper (here) and think that what they are working on is solving a real problem in the crypto world. On top of that, the team's credential is strong and they are also making profit from their exchanges platforms already. Furthermore, the ICO is fully regulated by the Japanese government. That’s the closest I can get to some form of valuation and so, I took some allergy medication and made the jump with a small position.
During my participation in the QASH ICO, I joined the telegram group to keep myself updated with the ICO news. This gave me direct contact with the QASH team as well as it's community and also allow me to truly feel how speculative the current crypto community is. There are many people who participated in the ICO due to the hype. From their queries on telegram, I doubted they have read or understand the white paper. They are probably just hoping to ride the crypto wave to earn a quick buck.
The ICO was oversubscribed in the first 24 hours which is encouraging but like any oversubscribed IPO, I was only allocated 55% of my purchase instead of all of the amount which I subscribed for. QASH will be starting to trade on 21th Nov 2017 at their Quoinex and Qrypto exchanges and after 1st December 2017, it is planned to be listed on more exchanges. I am excited to see if my first Crypto investment turns out well to make my bouts of allergic reaction all worth it.Happy Value Investing
Value Warrior (VW)