Nice to meet you all! sharing my Legit and Scam investments!

in #money8 years ago (edited)

pic


SCAM

Hi Steemit! I am Kenneth from Philippines, working as a desktop support in Singapore. This is my first post here and I am continuously lurking for posts to boost my knowledge about steemit.

I will be sharing my small amount of experience in investing on bitcoins, ethereum, stocks, mutual funds etc. and specially those SCAM investments that burned me bad!

Bitcoin

In search of a passive income, I got into bitcoin mining (cloud mining). I can't afford to buy those expensive rigs to get profitable enough so I resorted to cloud mining.  I signed up with Genesis and Hashflare. It is quite decent, I can have my return of investment for about 6 months. Well because of the halving, I am sure it will take longer time to get me ROI.


Ethereum

I also got small amount of hash power from HashFlare for Ether but the ROI will be around 1 year!!! Because I am impatient, I bought my own GPU to mine ether. I got the power color r9 280x for 125usd, used. I am getting 19MH/s and I can earn 40usd per month. What can I say, I am not a big time miner :)  I am using free electricity that is why the monthly earnings will be around 40usd (depends on the fluctuation of Ether Price)

eth 1

eth 2


SCAM investments

As I have said, I am impatient. I searched for some high return investments and it turned out to be a SCAM! I signed up with Hashocean. I ended up putting around 530usd. And they just decided to shutdown the site in less than a month from the time I joined. I only got around 150usd back. I am sure that a lot of people before me got a lot of profit from HashOcean and because it is a Ponzi scheme, it just a matter of time before it blows up! and I got unlucky with my timing. Well I am not unlucky because it is my fault anyways. I didn't really put more effort to research on the website. In my own opinion, if an investment promises you to earn around 30% or more, it is very likely to be a scam because it is too good to be true. But of course, not all high yield investments are scams. Let's just say that they bring higher risks. The thing that I regret the most is encouraging three of my friends to invest as well. I can lose money, but I don't want to lose friends because of money. I will never encourage anyone anymore unless I have really proven the system.

another one was altriacoins, I only put 14usd to test it out. and it turned out to be a scam.

I still have a coince account. I am not saying that they are a scam but, most likely yes. So I am just withdrawing my profits everyday until I get all my investments back and I will not continue anymore with them.

In the end, it will still be your decision whether or not to invest on something. But this kind of post will help to clear your mind on some of your investment plans. Always remember, only invest what you can afford to lose. 


Bitfinex and Poloniex

These are cryptocurrency exchanges. Basically, I invested a small amount of money, and Bitfinex and Poloniex lend my money to those who do Margin Trading and if you project your earnings in a year with compounding interest, it can go as high as 17% profit annually. But I find that Bitfinex offers higher rate on USD lending. On my Poloniex account, I offer to lend my ETH, XMR, and BTC.

I also withdrew some money from Bitfinex and Poloniex and added some steem power on my account here.

bitfinex

plx


Stocks

I got small amount of money that is in Stocks. I am currently invested in some blue chips stocks in Philippines. And they give high profits but as I said, high profits comes with high risks. My highest yield in stock was 70% in 2016. It is a petroleum company in Philippines, and yes, that is because of the issue on oil during first quarter of 2016. I bought on the lowest price and luckily it went up and I sold it. So imagine if you timed the stock market wrongly, it will hit you really hard. 

This is my current sample portfolio:

stocks

Other investments

I recently joined a crowd funding investment called Grow N' Green in Philippines. They grow, cacao. So basically, you are lending your money to those farmers and you will split the profits yearly. 

I also invested in a couple of condominiums in Philippines. They will not be as profitable as other people think. Firstly, there's a lot of competition, and those condo dues gets higher and higher every year. Sure, it can be profitable, but only if you manage and market them really well. I am living in Singapore so I can't really work hands on.

I am just humbly sharing my experiences and I know they are not detailed enough to really help others but I guess I can give an idea for starters. And I am most certainly not rich! I only got small amount of money invested across all of those. Those condos are borrowed from bank.

Please forgive my writing and my long post, I am not a writer and I am having trouble to express myself well enough. I got low score on my IELTS writing :( 

But anyway, I hope I can improve and I hope I will also learn from you guys. Let me know if you guys have any other ideas on investments so that we can exchange notes from time to time.

Cheers!


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Malapit po ba kayo sa Airforce One? Thanks.

Wow! nice to meet you all !
From Tarlac, angono rizal and paranaque po ako sa pinas :)

Kabayan.hehe buti nman may pinoy n dito. Hahaha

Im tj from taguig. Ikaw pre taga saan ka?

Same experience here. The more mistake we make the more we learn! Goodluck! :)

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