From rags to riches 12: Ethlend and Wabi ICOs

This is a part of my blog for my journey from £300 to £60000 through cryptocurrency investments. For an introduction take a look here

So amidst the general flood of record-breaking all-time highs for several cryptocurrencies, I participated in two new ICOs. I still contemplate if this was a good move. The main reason being that if I was to invest the same amount of money in some existing alt coins I might have better returns. Moreover, I would be in a much better position to move my funds and take advantage of the buying craze. It would be interesting to hear some opinions about that. Is this a good time for ICOs or is it better to try to find out all the “undervalued” coins out there?

So independently of all the above, the first ICO I participated was Ethlend. The crowdsale started on Sunday it is still going on in case you want to participate although only 5% of the tokens are available. I bought around £110 worth of Lend. Ethlend has a platform that works as a loan marketplace for cryptocurrencies. They already have a working product in alpha and it seems like a very interesting idea. The ICO process was pretty good with just a small hiccup at the beginning due to overwhelming demand. They used Eidoo which is a cryptocurrency hybrid wallet and exchange for mobile devices. Although I was a bit sceptical at the beginning because of the extra steps that I had to do in order to participate I have to say that at the end I found the experience very smooth and easy to follow.

The other ICO that I participated yesterday was Wabi. As I described in my previous post the company behind this particular token is Walimai. Walimai is existing company with a proven track record of providing solutions to authenticate products in China, where there is a big problem with counterfeits. I invested around £220 in Wabi tokens and the process was also very smooth. They had an individual daily cap that was increasing if all the tokens were not sold. I think the sale has ended today since the majority of tokens were sold yesterday and only a small portion was available for people that wanted to buy more.

I am quite happy with my picks although I believe that Wabi is probably a better investment with better short-term prospects than Ethlend. As described in my previous post I plan to trade those more aggressively than my previous holdings and hopefully, that would be in time to jump in the crazy all time high cryptocurrency bandwagon before it falls off a cliff.

Regarding my previous holdings, it seems that they are unaffected by the madness around them. Red Pulse got listed in a new exchange TDAX although this hasn’t affected the price much. Cindicator, on the other hand, got a web version of their mobile app and this hasn’t affected the price either. Finally, Blackmoon got a new website but it seems that my picks are unaffected by good news so nothing changed in the price of BMC. I might decide to sell at some point even with smaller profits than I originally planned.

Here is summary of how they are performing at the moment:

BMC - Initial Value: £154.04 Current Value: £62.45 Profit/Loss: £ -91.60 Change: -59.46%

CND - Initial Value: £177.06 Current Value: £318.62 Profit/Loss: £ 141.56 Change: 79.95%

RPX - Initial Value: £219.69 Current Value: £431.86 Profit/Loss: £ 212.17 Change: 96,58%

Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.