• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Edmond Chan

  • About me
  • Keep On Learning
  • Travel
  • Mind
    • Mindset
  • Money
  • Book Notes

What other cryptocurrencies am I going to buy?

August 12, 2017 by Edmond Chan Leave a Comment

It’s not easy to find sites on Bitcoin or cryptocurrencies that you can trust.

This is the Wild, Wild West.

One site I trust is https://coinmarketcap.com  (I trust it because of the amount of traffic they get. I use a Chrome extension called SimilarWeb which is free and this estimates the amount of traffic that goes to a site. CoinMarketCap has around 52m visitors a month which indicates to me that it’s a valid site that people trust. That’s good enough for me.)

Click on this link and you will see the following screen:

(I’ve screen-shotted just the first 11 cryptocurrencies because I couldn’t fit them into the screenshot)

Anyway, look at the list. These are arranged in order of market capitalisation (market cap). For example, Bitcoin’s market cap at the time this screenshot was taken isUSD 62,530,606,485 (yes that’s USD 62 billion). This is calculated by multiplying the price of a Bitcoin (USD 3,789.22) by the number of Bitcoins in issue (Circulating Supply) (16,502,237).

Look at this next screenshot of CoinMarketCap:

Look below the CNBC advert and you’ll see a figure for BTC (Bitcoin) dominance which shows the percentage of BTC’s market cap as opposed to the market cap of all cryptocurrencies put together. I.e. Bitcoin is nearly 50% of the overall cryptocurrency market!

Anyway back to the first screenshot:

I’m going to buy all of the above as they are the most established (based on market cap).

But first, I’m going to buy Monero, which is just out of sight on the above screenshot, at number 12 by market cap.

My next question is how to weight/allocate across the cryptocurrencies I’m going to buy.

What are you buying? What cryptocurrencies do you hold? Let me know in the comments below.

Related Posts:

  • How and why to buy Binance (BNB) (potential 2,000% upside from here)How and why to buy Binance (BNB) (potential 2,000%…
  • 39 things I know at 3939 things I know at 39
  • These 11 things can make you the most positive person you've ever metThese 11 things can make you the most positive…
  • How I finally bought my first MONERO cryptocurrency (complete beginner's guide)How I finally bought my first MONERO cryptocurrency…
  • Two unplanned new trades (BTC and ETH)....and I need a new Ethereum WalletTwo unplanned new trades (BTC and ETH)....and I need…
  • How I bought my first Verge XVG using Binance exchangeHow I bought my first Verge XVG using Binance exchange
  • The biggest obstacle I can see that might block mass cryptocurrency adoptionThe biggest obstacle I can see that might block mass…
  • Why am I buying Monero (XMR)?Why am I buying Monero (XMR)?

Filed Under: Cryptocurrencies

Primary Sidebar

Hi there! I’m Edmond Chan

Hi there! I’m Edmond Chan

I write about positivity, mindset, travel, money, and books. Hope you enjoy the site!

A bit of disclaimer – worth a read

I do write some stuff about financial topics such as cryptocurrency and investing. I am not a financial professional and please don’t rely on what I say to make financial decisions. Please check with your financial adviser before making these decisions.

Categories

Recent Posts

  • 9 marvellous things you can do with 24 hours in Cambridge
  • Hack the monumental power of the language you use to feel more positive, optimistic and happier
  • If you’re a foodie, then you’ll love these youtube channels
  • This app will change your life AND this video will change your wife’s life
  • My working theory on how you can increase your positivity
  • Customer service is a rarely-deployed competitive advantage
  • “Legacy – What the All Blacks can teach us about the business of life” by James Kerr
  • Getting fit for fatherhood
  • 4 speeches to put fire in your belly and put hairs on your chest
  • How you can save money effortlessly using Monzo, Marcus by Goldman Sachs, and Moneybox
  • Why We Sleep by Matthew Walker – key takeaways
  • What does it mean to eat well?
  • If you were asked to introduce yourself, would you sell yourself short vs what the objective reality was?
  • Definitely feeling the benefits of implementing some of Aubrey Marcus’s book “Own The Day, Own Your Life”
  • Can we apply what makes a great city/country to the individual level?

Copyright © 2019 · eleven40 Pro on Genesis Framework · WordPress · Log in