Well I made a bet with one of my friends (we had a few drinks). Frank is part of a small investing group (just for fun) where they invest traditionally (in stocks). The discussion went on cryptos and investing. According to Frank it is all a Ponzi scheme and or a bubble.
The bet I made: I will invest 1,500 Euro in a basket of Cryptos and in 3 months there should be a return on investment (ROI) of 30%. In other words, I should have a profit of at least 30%
That means the value of my Cryptos should at least be 1.3 x 1,500 Euro, a gain of 450 Euro (note: for the real Crypto traders, this is peanuts but for me it is an interesting experiment)
The start of this bet is December 2017. The end date of the bet is March 15th, 2018.
If I win the bet, I will buy the group of small investors a dinner and drink!
The first problems to get in to trading with Cryptos:
- All kind of registration requirements and documents you have to provide (that takes a few days).
- Limitation of money you can invest (minimum is 100 but if you want more, there is a substantial delay to verify documents).
- What is the best trading company you can trust?
- Litebit.eu, a Dutch Crypto exchange was not available today (no coins available, noppes, zero). It seems they have serious problems. Will Litebit go bankrupt like Mt. Cox?
- When you sell your cryptos, there is a substantial transfer commission (around 5%), that means, my real gain should be 35% if I would like to win the bet.
The start of the investment in cryptos
