Contest !! ||Cryptocurrency investment
Hello guys,
It's a pleasure on my path to share with you all my entries in this week's contest which is titled "Cryptocurrency investment" which was organized by @khursheedanwar. It is an interesting contest and I would love to drop my entry ASAP.
Before we go ahead I would like to invite @dave-hanny, @rakiya, and @josepha to join this contest in this community today and share their participation as well, I do hope to see and read your entries as well.
- Have you ever invested in cryptocurrency before?
Yes, I have invested in cryptocurrency on so many occasions. As a crypto lover, I was always looking for ways to earn more from cryptocurrency because of the good news I have heard about investing in crypto assets.
So I have always bought coins and held them for future use or kept them when the price got higher I sell them. Most times, I join in the presale of some coins and then accumulate much of the coin before it goes live for trading.
Another means I have used to invest in crypto is joining some of these robotics trading. Where you will connect your exchange API to the bot platform and then give a few permissions to the bot.
- What kind of cryptocurrencies are you interested in investing in?
Most of the investments I have made in cryptocurrency are on shit-coins because I don't have enough money to invest in big coins like the ETHEREUM, Bitcoin, and many others.
So I will always look at a coin and see the growth potential that it has and then I will go ahead to buy and hold the coin since I don't know much about trading.
When the prices of these assets start going up, I will sell them and then immediately convert the money to USDT and then hold until the price of the asset drops again. In this way, I can end up making about 20-30 of that coin thereafter.
- How much do you know about the risks and potential rewards of cryptocurrency investments?
Indeed there are many risks and rewards associated with cryptocurrency and also there are many rewards associated with it as well. Risks such as investors eloping with the money and also coming with a fake token are some of the major things traders need to take note of before investing in any crypto asset.
Rewards associated with this are also much because the asset you bought for $0.001 may surprise you within a day to move to $0.11, this is a good reward or profit if you ask me. Imagine having millions of the said coin, it means you are a million.
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Upvoted! Thank you for supporting witness @jswit.
it good to know that you have invested in cryptocurrency multiple times, focusing on potential growth. You're also interested in smaller coins due to budget constraints but aim to profit from price fluctuations. Despite risks like scams, the potential rewards are significant. With strategic buying and selling, you aim to maximize profits in this volatile market. One advise my friend, trade responsibly. Good luck @olaiyidennis.
You're truly a crypto lover. Buying and holding a coin is one of the popular way a lot of investors do generate income via cryptocurrency investment. You can make massive profit from cryptocurrency investment when you buy a coin during bearish market, hold and sell them off during bullish market. You have that strategy of making money from cryptocurrency investment. I advise you invest with caution and also invest what you can afford to lose. Remember, we don't control the market.