Testing The Waters And Getting My Feet Wet With Crypto Trading. A New Adventure For The Dreamer In You!
Im So Excited An I Just Cant Fight It. I'm About To Lose Control.... And I Think I Like It.....
Shortly after becoming a member of the Steemit community. I began to wonder.... Well what am I going to do with all this newly found Crypto I keep receiving for the content I post? I brought this question to light in the STEEM SPEAK chat room in Discord.
After that enlightenment began. I was first instructed to sign up with Coin Base. This platform allows you to take Fiat currency to purchase Bitcoin or Ethereum. After signing up with Coin Base and registering all my personal information. An exhausting seven day wait had passed for the funds to clear in to my account. Finally without further ado the necessary finances became available for me to purchase Bitcoin to trade on the market.
Shortly after I registered a account with Bittrex this giving me the power to use my Bitcoin to purchase other crypto currency's.
Of course being an avid supporter of the Steemit community my first investment most definitely had to be in SBD.
My second buy was into a stock called GOLOS. From being a fly on the wall in the chat room. It became my understanding that GOLOS was equivalent to a Russian version of Steemit..... Well duh thats a no brainer why wouldn't I invest in a platform that nearly mimics the same platform I use now. So I made the buy!
Lol shortly after my buy (2 hours to be exact) I realized I wanted more SBD. So I sold a few shares of my GOLOS when the market was up a few points. making a small gain and turning around to buy my SBD.
This is so exciting you may not make a boat load of cash right away but a wins a wins a win am I right! Thanks for reading
My goal here in Steemtopia is to stay true and live up to the expectation of the block chain system. Producing Quality content while educating our audience is key.
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Like/Follow/Upvote/ReSteem If you would like me to continue! @rest100
@rest100 Hey buddy! Nice content. I dropped to this profile by chance but
I upvoted and followed you since you truly deserve it !
check out my profile and upvote and follow, too. fetmom - real estate investor and donator!
Thank you and I appreciate that. I work really hard to produce quality material.
I've got a lot to learn... thank u for the post!
Remember SBD is "pegged" to a dollar :) so it is supposed to be worth a dollar.
So if its cheaper, its a good buy, if its more than a dollar, its a good sell.
Steem and Golos is more speculative, and is more an asset that can either "MOON", or become worthless.
For referance technicals analysis can be a ok thing to check.
Most of the altcoins follow Bitcoin, so if bitcoin is going up, the altcoins tend to rise as well.
Many of the smaller coin can be artificially pumped, in poloniex this happened with steem during the lockdown some weeks ago.
Its vastly confusing to make any sense of it, but if bitcoin and eth goes good. Most other coins follow.
It is not smart to buy coins no one have heard of, like "linda" or other coins with low daily volume.
coinmarketcap.com is a valueable tool, you can even check markets to see if your coin is more worth in another exchange.
(this usually only applies if daily volume is over a couple of btc, on that exchange.)
Good luck!