Iconomi Review – Invest in Altcoin Strategies

What is cryptocurrency?

Iconomi Platform is one-stop-shop for all crypto-related investments across altcoins. Most people think of bitcoin when they talk about crypto as an investment class. Over the last few years, blockchain technology has made rapid progress and so has the crypto market evolved.

ICONOMI Logo

It becomes a daunting task to invest because it is something with which most people are not very conversant with and secondly the asset class is very volatile.

Let’s put down some tenets for investing in crypto?

  • Bitcoin is just one part of the cryptocurrency universe
  • It’s a very volatile asset class
  • We should add only a small portion of our wealth to it.

What is the various alternative to Bitcoin?

Bitcoin Alternatives

In terms of market, capitalization Bitcoin is a heavyweight if you own that you are invested in 65% of the market, but in terms of number, there are more than 3000 alternate currencies. Some of them have great utility and hence they are increasing in value while some are duds going up on speculation.

What we are often exposed to and aware of in general is the currency which comes under the category of Cryptographic Assets 


Cryptocurrency can be grouped into four main classes which are; transactional cryptocurrency, utility cryptocurrency, platform cryptocurrency, and application cryptocurrency.

  1. Transactional Cryptocurrencies 
    This is the category that cryptocurrency is originally intended for. The most popular of them all is without a doubt Bitcoin. The intention of this cryptocurrency is to remove the control of central authority and cut out the middleman in our day-to-day transactions.
  2. Platform Cryptocurrencies
    This category creates a form of bedrock that facilitates the operation of other decentralized applications. Examples include Ethereum and NEO. Ethereum & NEO  allow the creation of smart contracts, with Ethereum being the most widely used smart contracts platform to date. Platform cryptocurrencies provide the foundation as well as buildings blocks that allow the swift development of other decentralized apps/cryptocurrencies
  3. Utility Cryptocurrencies: 
    A utility cryptocurrency is a cryptocurrency designed for a specific purpose. Siacoin is one of the notable examples. Siacoin is designed to facilitate a decentralized storage network which is a fairly unique concept and novel application of blockchain technology.
  4. Application Cryptocurrencies
    Application Cryptocurrencies refers to the class of cryptocurrencies that were based upon the platform cryptocurrencies

How to start investing via ICONOMI?

2 things I consider while investing in crypto

  • To be able to diversify across multiple crypto assets
  • Reduce loss if a market crash happens.

To address the first part I have decided to put 30-40% in Bitcoin and the rest in another cryptocurrency that has huge upside potential. How do I find that?

As of now, I am investing in Iconomi Platform. It is one of the first platforms where multiple crypto portfolios are available where retail people can start investing from as low as 10$.

Crypto Strategies are managed by experienced investors – ICONOMI Crypto Strategies Experts. You can add funds to your account and follow the Iconomi crypto strategy with just a few clicks.

While  Iconomi is taking care of the complexity behind the technology, users can add funds/follow (invest) in or create their own Crypto Strategies in just minutes.

Iconomi Platform provides a simple and elegant user interface while relieving the users of the complexities that dealing with multiple exchange accounts, setting up complex orders, transferring cryptocurrencies from one exchange to another, trading, storage, pricing, etc., thereby providing a superb user experience. Everything is done on ICONOMI platform, with you owning only one account

Ionomi Crypto Strategy- Which one to choose?

Crypto Strategies are a great entry point for beginners, for those who would like to invest their money into cryptocurrencies, but are not sure where to begin. That is where Crypto Strategies managed by ICONOMI Experts come in handy. ICONOMI Experts choose the cryptocurrencies and adjust the strategies depending on market conditions, while followers (investors) can sit back and track their investments anytime and anywhere. It’s like a mutual fund for crypto.

You can choose to invest in a passive index: Like a top 20 crypto or a more active index.

Blockchain Index Iconomi

I have invested in the Crypto Crush fund by Victor Lai, crypto researcher, and owner of a very popular crypto blog. I also have some portion allocated to CARUS AR Iconomi Crypto Strategy.

Crypto Crush Core

You can register for Free here: Iconomi Platform

Iconomi Platform accepts: USDT

To protect downside risk I have created a hedge using my Deribit account. Post on Hedging Strategy,Deribit Review- Bitcoin Hedging

Iconomi Review- Experience of 1+ Year

I have completed almost one year with Iconomi. I am happy with the performance. My current portfolio is close to 1000% up without me putting any effort in researching altcoins!!

Iconomi Performance

Conclusion

  • Allocate small amounts to crypto funds to take exposure to crypto other than bitcoin. You can take a passive approach(Index) or active(Fund).
  • Bitcoin hedges can be taken from Deribit platform where bitcoin is used as a margin.
  • We tried looking for Iconomi alternative but couldn’t find reliable platforms. Hence, it is a one-of-a-kind platform that is a must-try option for any crypto investor.

6 thoughts on “Iconomi Review – Invest in Altcoin Strategies”

  1. can u tell about crypto mining investment. Recently i came to know about crypto mining investing site Marvellous Infosoft through FB (https://marvellousinfo.com/index.html). Where they are offering up to 45 % p.a. fixed interest. As a experiment I had invested little amount because I feel cautious as its an new kind of investment, interest they are offering compared to other investment option. So could u guide please whether its real or scam ?

    Reply
    • I recommend people to stay away from most mining related investments as most turn out to be fraud or ponzi scheme.

      No mining can offer high return in these volatile environment.

      The company link has placeholders for testimonials, a big red flag!

      Reply
  2. Is Iconomi registered with FIU? Recently GOI banned several exchanges for not being FIU compliant (although its questionable how effective the ban is).
    Also how do you withdraw INR from Iconomi? Also just wanted to check considering all the costs involved – of reusing strategies, deposit charges, exchange fee, txn fee (for trading as well if you have to move coins to other exchange for cashing out) and finally income tax, how much profit we can expect ?

    Reply
    • Hi Rahul ,
      1) Currently the FIU ban is not on Iconomi but you need to deduct TDS while investing in Iconomi hence its not a convenient option for India based investors
      2) You can withdraw in USDC , bitcoin etc to any platform in India like Coindcx
      3) The strategy are profitable (some 100%+ returns )even after transactions but it depends at what time you are investing. The platform does well in long horizon (adding more in crypto winter) as it has strong altcoin focus making it high beta play on crypto . deposit and withdrawal charges generally onetime

      Reply
      • Thanks a lot. Have you tried coin sets feature on Mudrex? Although it doesn’t come across as smart as Iconomoi strategy feature, seems like maybe next best option for FIU compliant exchange and doing INR trxns. Any views on that?

        Reply
        • Hi Rahul,
          I have tried mudrex in the past. My only reservation has been it is more of a trading platform and the maximum returns in crypto have come through long term investment. Do the trading fees etc make up with superior returns for you?

          Reply

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