Also, iTrust Capital is looking to become the CoinBase like tool for IRA's, but to date is limited to just 11 coins, and no easy way to rank and stack like CoinBase.
End of week 1 - Stupid Simple Crypto Trading Plan.
First, a few things to share. I failed to make the weekly update and exchanges yesterday as planned (Mondays). Something came up yesterday that kept me away from my keyboard for most of the day, so this week's update and exchanges occurred today. An 8 day period rather than 7.
Also, I was charged $7.67 for each of the $200 amounts I transferred into Coinbase and used to purchase the initial five crypto coins. This means my starting balance was not $1000, but rather 1000 - (5x7.67) = $ 961.65.
Also, I learned it would have cost me another $3.50 to sell each of the five crypto coins if I was to sell for cash and use the cash to buy this week's coins HOWEVER, there were no fees if I simply exchanged one coin for another, so I did that. Doing an 'exchange all' of one coin for another coin this way prevents me from rebalancing all the cash proceeds, and buying the new coins for the week in equal dollar amounts. I simply exchanged the highest coin that fell off this week's list for the highest coin that appeared new on this week's list. I may change this up in future weeks to exchange the highest for the lowest. I have to think about this some more.
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