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 .

It becomes a daunting task to invest because it is something 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 crypto currency universe
  • It’s a very volatile asset class
  • We should add only a small portion of our wealth to it.

What are the various alternative to Bitcoin?

This image has an empty alt attribute; its file name is image-16-1024x512.png

In terms of market capitalization Bitcoin is a heavy weight,if you own that you are invested in 65% of the market, but in terms of number there are more than 3000 alternate currency. 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 and aware in general are about the currency which comes under the category of Cryptographic Assets 


Also, with the help of this graph you would be able to understand as to where the different cryptocurrency fan under with the help of this map.

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 which 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 of central authority and cutting out the middleman in our day to day transaction.
  2. Platform Cryptocurrencies
    This category creates a form of bedrock that facilitates the operation of other decentralized application. Examples include Ethereum and NEO. Ethereum & NEO  allow the creation of smart contract, with Ethereum being the most widely used smart contracts platform to date. Platform cryptocurrencies provide the foundation as well as buildings blocks that allows 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 do start Crypto Investment

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 rest in other cryptocurrency which have huge upside potential. How do I find that?

As of now I am investing in Iconomi Platform. It is one of the first platform where multiple crypto portfolio 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/follow (invest) ICONOMI experts’ Crypto Strategy with just a few clicks.

While  Iconomi Platform 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 deal with multiple exchange accounts, setting up complex orders, transferring cryptocurrencies from one exchange to another, trading, storage, pricing, etc., thereby providing superb user experience. Everything is done on ICONOMI platform, with you owning only one account

Which Strategies 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 more active index.

I have invested in Crypto crush fund by victor lai, crypto researcher and owner of a very popular crypto blog

You can register for Free here: Iconomi Platform

For investing you have to use Wazirx Free Crypto Trading  Link to transfer the crypto if you are based out of India or any other crypto wallet used in your country:

Iconomi Platform accepts: USDT

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

1 year Review of Iconomi

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 amount to crypto funds to take expsoure to crypto other than bitcoin. You can take passive approach(Index) or active(Fund).
  • Bitcoin hedges can taken from Deribit platform where bitcoin is used as margin ..

Leave a Comment