The journey of a cryptocurrency newbie
So as I stated previously I've very new investing and cryptocurrency I think I discovered it 1st of December and made my 1st couple investments on the 5th.
I jumped in guns blazing with little to no research or understanding of market patterns (which I advise against ) and bought all three coins on coinbase BTC,ETH,and LTC.For the first couple days I just kept checking coin base and watching bitcoin go up in amazement.
In the meantime I decided I needed to educate myself further on the topic and spent every night for about 3-4 hours researching and watching YouTube videos. Whilst watching these videos I learnt a lot more about trading and instead of just holding my coins I decided to trade them on the up to lock in some profits.
Everything is going really well for me at the moment and I'm feeling alot more knowledgable.From my research I found these 4 points to be the most helpful in starting to understand the crypto game a bit more;
- Sell on the high
- Buy on the dip
- Don't get caught in the Fear Of Missing Out aka FOMO
- Set buy and sell orders
luckily I managed to lock in some profits roughly 30% of my original investment. Apart from buying and trading coins I also decided to diversify a bit more and a passive income from mining and a lending platform both of these get pretty mixed reviews based on what I have seen so I was much more cautious with these and only roughly $500 combined to test them.
For the mining bought a contract with Hashflare and I'm currently getting around $4 worth of bitcoin a day which seems rather good and if things stay the same I should have made my money back with 3months.
For the lending I entered a contract with the notorious BitConnect which honestly seems too god to be true with on average 1% returns daily . It's been about a week now and BitConnect have held up there side of the deal.
This is my journey so far next up I'll be waiting on the bitcoin futures to see what happens to the markets and then I can take it from there. In the meantime I'll keep learning and doing more research as my next move will be to get into some of the smaller alt coins as I want to try get a piece of the famous 10x returns.
Thanks for reading
Health is wealth
Sebastian
Welcome to steemit!
I know that steemit may seem very overwhelming to you right now but don't worry. There's a learning curve to everything so just be patient and you'll be churning out posts and becoming a part of something great in no time!
Also if there are any questions that you may have, then just ask your questions on any of my blog posts or in a reply below and I'll be more than happy to assist you with whatever questions you may have! I will also be creating a basic starting out guide for all minnows and newcomers on my blog so do give it a read as that might help answer many of your questions!
Have fun and I wish you LOADS of success on here! :)
Also. you can call upon originalworks whenever something you post is your own content like this: @originalworks
Regards
@welcome-to-steem
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!