Yes! I made Rs. 3 Lacs from Rs. 50K within a month!!
As unrealistic as it may sound, but it is true.
How did it do it? You also want to do it? Sure but let me warn you it involves high risk.
So without further ado, here is one chart which explains all about how I did it.
Do you see that?
Ripple (in terms of bitcoin) appreciated nearly 4.5 times within a month’ time. Around 10 April it was trading at 0.000027 BTC and around 8 May (when I squared off the position) it was trading at 0.00012 BTC and hence an increase of nearly 4.5 times.
I am an investor in bitcoin for sometime now. After tasting some success in Bitcoin trading, I wanted to move to other ALTCOINS. Ethereum and Ripple looked promising hence bought some amount of both. As luck would have it, Ripple’s growth has shocked everyone. In-fact it has now overtaken Ethereum to become second largest crypto-currency by market cap. Here is the story.
To top it all, bitcoin also rallied with Japan legalising it giving me a lift of around 35%. Here is the supporting chart.
In nutshell here is the position on 10 April–
Notional Money Invested: Rs. 50,000 (invested equivalent bitcoin)
Ripple in hand: 22968
Position on 8 May
Sold Ripple and bought bitcoin: 2.7562 (sold at 0.00012 per BTC)
Bought USD and sold bitcoin: $4685 ($1700 per BTC)
Funds in INR: Rs. 302,000
Pretty neat, isn’t it?
Do let me know (in comments) if you have any queries or feedback.
Platform Used for Trading
Bittrex; they charge 0.25% commission
Word of Caution
Investing in Crypto-Currency is risky therefore you should invest only when you are ready to lose it all.