I made it through December! That in its self is quite the feat in my book. December is always a crazy month for me personally with the holidays, but typically my business get the "holiday slowdown". Not this year! I was slammed with crypto related stuff the entire month with almost no break! I realized that I had not updated all my followers on my investments as regularly as I would like so here is an update on one of my early investments in EOS.
Ethereum On Steroids
When I first heard of EOS my buddy Rhy had mentioned it as being "Ethereum On Steroids" or "EOS" and I thought that was funny enough to actually check them out. Of course EOS does not actually stand for Ethereum on steroids, and from what I can tell it is not an acronym for anything. My interest was peaked when I actually took a look at the project and was impressed by their concept. I admit that I didn't do my "homework" on this project when I first purchased (I know, I know! Breaking my OWN rules!) so there are some things that I did not know upon purchasing.
Year Long ICO
What I didn't realize when purchasing during their ICO was that it would be a YEAR long! That is an epic and unprecedented amount of time for an ICO to last as most seem to stick to a month or so. I fell victim to the wrong trading psychology (see my article about the RIGHT trading mentality here) and let that FOMO take a hold of my brain and just jumped right in based on the hype. While I overlooked this factor, I don't think it would have been enough to stop me from buying EOS. After I heard about the coin I read some articles on Steemit about it and saw that the inventor of Steem, Daniel Larimer, is also the inventor of EOS!
EOS Performance To Date
I bought into EOS on July 25th, 2018 at the price of $1.59 per coin. I only invested a small amount at the time as I really used it as my test of Exodus' in-app Shapeshift feature. I purchased 31.446541 EOS using the Shapeshift feature in Exodus and then just kind of sat on it. At the time of purchase the price had dropped VERY low so it was a good buy. However, over the summer it dipped to as low as $0.55 and I should have taken profits and bought back in.
I am more of an investor/hodler than a daytrader, so I just sat on the EOS and in late November 2017 it started to move back up again in strides. At the writing of this article EOS is bouncing around $10 and seems to be heading up in volume on the exchanges. Here is the current price:
As we can see, my investment into EOS turned out to be a pretty good one so far. When I learned the fact that they have a year long ICO I decided to just sit on it and see what happens. I wish I could say this was my plan from the beginning and that I thought it all out ahead of time, but I didn't. I didn't research the coin to the extent that I normally do before purchasing and while it turned out good this time, I WON'T be making that mistake again. Always do your research! I know it can be a pain in the ass with all the reading and learning, but do you really want to be the person on social always asking "Is this a good coin" or "when should I buy x". If you are that person it makes you a target for scammers. Get educated & THEN do your purchasing!
'Stache That Crypto Friends!