RE: Steemit Crypto Academy Contest / S3W2 – My Experience Investing in the Crypto Market by @drqamu
I owe my allegiance of investment in the crypto market to Steemit and Steem. I joined Steemit in September 2020
Like you, I started crypto around 2020 too but I didn’t start trading after joining steemit. But I owe most of the knowledge learnt about trading and the market here on steemit. I remember the first time I started trading I knew nothing about crypto, all I did was to buy btc because my friend was into it.
My first investment in the crypto market was in BNB ( Binance Coin).
I wanted to question you on the reason why you decided to invest in bnb. But after going on reading I realised that at that particular time you have knowledge of the market. For me I tried btc first. But I must tell you that I had no knowledge about it. All I knew was that I will buy and make money. It’s funny that I had no idea that it goes down. I didn’t know of any analysis, all I did was to open a paxful account and buy my coin.
had an investment of about 600K Indian rupees in the crypto market and I exited the market in FUD and booked a loss of about 200K INR
Wow. That’s a huge amount of loss you got there brother. I’ve encounted 2 huge losses in the market too and the most notable one is the Luna crash.
holding DOT Polkadot), LINK and ZRX
Dot has been a coin that I’ve wanted to invest in a lot. The time I wanted to invest in it, it was super high. Now I think it’s best for me to buy, as you rightly said we can never know the dip but dot at this price is actually good you know🤔
I can see you have a lot of usdt there. Have you considered getting your self 1 eth? Am just saying though 😂
Because at that time Binance exchange was on peak of popularity and even now Binance exchange and BSC have their identity in crypto sphere . BNB being their native token has great future ahead . Secondly , i had limited funds to invest and Btcs price was allowing me to get few sats of BTC only and i didn't like that . I wanted to have at least few tokens not a fraction of one token .
I also suffered loss in LUNA but that was not too much . That's about 250$.
Absolutely true . You can see the potential of DOT by checking price above in screenshot and price now.
I am waiting for market to stablise because I don't know whether bear cycle is over or yet to dig deep. Moreover , ETH if makes new ATH is liable to give me 5x profit in next bull run but j have tokens where I can get more than 10x in next bull run even if they reach only previous ATH. So they are there .
Thanks for your valuable interaction here . Good luck .
Oh okay thats great.
I don’t like investing in btc that much because i can’t afford having a whole btc. Instead I will like a token where I can get one whole one too.
Yh that’s actually a great explanation to this.
Investing in another coin will surely give a guaranteed 10x in a shorter time than eth. The early problem will be how long it will take to give you that 10x.