My first week trading cryptocurrencies!

Did I make a profit?

Not really...

I have known about cryptocurrencies for a few years now, and I mostly forgot about cryptocurrencies until my friend told me that he had bought a few hundred dollars worth of cryptocurrencies and now had over a thousand, this inspired me to go buy some. I remember about two years ago checking the value of a bitcoin and seeing it was around $500. Now it is over $2500. One of the things that held me back before was knowing how risky and volatile investing in cryptocurrencies is. So I decided to start small, but I think I started a little too small. I decide to play it safe and only put in $20. Which is a mistake because right off the bat Coinbase charges and extra dollar for each transaction and I made two transactions $10 worth of bitcoin and $10 worth of Ethereum. So already I had spent $22 for only $20 worth of cryptocurrencies. Then, I transferred my Bitcoin to an exchange, my friend used YoBit.com so I decided to use the same, after I transferred my bitcoin, which also cost a network fee, I had less money to trade. After that I found that YoBit was limited in my opinion and didn't have many of the top cryptocurrencies and was full of scammers. Then after a few days of trading small coins for little to no profit, the market crashed. Luckily I didn't sell my Ethereum and I bought a few coins when they were down and hopefully I will make some money off of those. I have already put some more money in and I plan to put a lot more in because I truly believe that cryptocurrencies are the future and I will continue trading them.

Things I have learned

• Put in at least a few hundred dollars to get started
• Do some research about each coin before you buy it
• Do some research on which exchange to use
• Buy low, sell high, and don't panic sell

So overall I haven't made any profit, and I attribute that to my lack of planning and research. If I could go back a week and start again I would have done a lot more search on which coins to buy, which exchanges to use, etc.

If you have any advice on what to coins to buy or and tips regarding cryptocurrencies at all, I would love to here it.

Thanks for reading.if you would like to leave me a tip in bitcoin at this address
13t1CDDy22z6DZif3ZGsAgXeHDuMfV3xFg
I would greatly appreciate it. 

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