[30 days later] I bought $1 worth of every crypto on Coinbase
A look at how much my investments made 1-month in.
![[30 days later] I bought $1 worth of every crypto on Coinbase](/content/images/size/w1200/2022/05/coinbase-update.webp)
One month ago I invested approximately $50 in dozens of cheap coins on Coinbase. If you'd like to read my full break of why I chose this project, and what the goals are with it, read the first entry here: I bought $1 worth of every crypto on Coinbase.
If you'd like to participate in this experiment, you can use this link to get $10 in Bitcoin from Coinbase.
The results
Well, it turns out 30 days and $50 is not enough to turn me into a crypto millionaire 😅. Not yet at least.
Overall, my portfolio saw a 46.73% return on investment.
A few coins stood out above the rest: IOTX, LRC, and MANA all grew 300% - 500% in a single month, which accounts for the majority of my overall gains.
The rest performed fairly conservatively, with about a dozen coins losing value.
If anything, this experiment reconfirms the genius of index funds. A concept we're already seeing come to life with Bitwise. I believe as the market matures, and more long-term investments are moved into crypto, we'll see a rise in fund creation, and (hopefully) a decrease in rampaging sh*tcoins.
You can see the full numbers in the chart below.
| Coin | Starting Value | Nov 13, 2021 |
|---|---|---|
| ACH | $1.11 | $1.40 |
| ADA | $2.46 | $2.22 |
| AMP | $1.69 | $1.97 |
| ANKR | $0.95 | $1.30 |
| BOND | $2.70 | $3.65 |
| CHZ | $0.95 | $1.58 |
| CLV | $3.37 | $1.21 |
| COMP | $3.65 | $3.85 |
| COTI | $0.97 | $0.89 |
| CTSI | $0.98 | $1.83 |
| CVC | $0.91 | $0.80 |
| DOGE | $0.96 | $1.01 |
| DNT | $1.01 | $1.20 |
| DOT | $1.02 | $1.29 |
| FET | $4.84 | $5.10 |
| GRT | $2.72 | $4.11 |
| IOTX | $0.98 | $4.60 |
| JASMY | $0.87 | $3.32 |
| KEEP | $0.96 | $1.51 |
| LRC | $0.97 | $6.48 |
| MANA | $0.96 | $3.91 |
| MATIC | $2.45 | $3.15 |
| NKN | $0.98 | $1.75 |
| NU | $0.94 | $2.68 |
| OGN | $0.97 | $1.24 |
| OXT | $1.02 | $1.87 |
| PLA | $0.91 | $1.61 |
| POLY | $0.95 | $0.79 |
| REQ | $0.95 | $1.07 |
| RLY | $0.99 | $1.02 |
| SHIB | $1.07 | $2.23 |
| SKL | $1.76 | $2.01 |
| TRIBE | $1.02 | $1.76 |
| TRU | $0.95 | $1.23 |
| UNI | $0.97 | $0.94 |
| XLM | $5.41 | $5.61 |
| XYO | $1.35 | $2.50 |
| Total Value | $57.72 | $84.69 |
What's next
I plan to do the next update at the 6-month mark (April 2022).
That should be enough time to measure what semi-long term growth looks like for small-cap coins. Also, I think spacing out these entries will ultimately make them more helpful.
If you're interested, I can also share monthly updates on the total portfolio value on Twitter. It would be cool if others joined in on this experiment, built their own mini index funds, and then, together, we publically tracked our performance.
Looking forward to seeing how this all plays out!
wagmi — DR