My Experience of Losing Money in Crypto| Where it all started by @jasminemary
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Hello Friend,
@jasminemary welcome you to her post today. I am so happy to have you around here friend. In this post, I have discussed about my journey in crypto and what I have loss and again so far eversince that I began trading in cryptocurrency. Let's take a look at how far I have gone below.
About My Crypto Experience:
The very day that j began trading cryptocurrency was the day I had my first crypto experienced which was in the year 2020. To be honest, October 2020 was the year that I started investing in the crypto market where I was having several thought about cryptocurrency.
Within my first two month of investing in cryptocurrency I made a huge profits which I later loss over 95% of the profit I had made earlier because of greed. Back then instead of me to sell off the coin and re-buy it back after making profit, I didn't apply such knowledge.
Because of my greediness and lack of knowledge, orientation during my first month of investing in the crypto market, I lost a lot of money to the extend that I even got to hate myself.Back then I was seeing the crypto market as a get rich quick scheme untill after some months of my losing and gaining.
After I began conversant with the crypto market, I started investing on ETH, BTC, STEEM and several coins. However, as I began to Invest fully in cryptocurrency I started losing money which the first was my instability to understand the crypto market which I was trying to discuss above at the beginning of this post. My loss is something that I can't count, but the true fact is that as a newbies backed then I encountered several losses as a result of instability in the crypto market.
As first, when I started my crypto journey, my mentality was that cryptocurrency will keep on rising gradually without falling even more than how it was rising.
"With the type of mindset that I have them I will just by coins and with for it to rise and once it rise I will still be waiting for it to keep on rising up to thousands or millions before I can sell it."
"Instead, of me to sell when the coin that I purchased has rises and given me 2X my Investment I will say until it get to million or thousands before I will sell and the next morning or day which is usually when I am broke the coin will just fall down wotowto. " @jasminemary old Post
This is what I called greediness
However, the last money I loss in cryptocurrency was the one I loss during Luna crashed. The Luna crashed affected me a lot and several thought was running through my mind as to leave the crypto market for good and never to come back and invest.
Currently, as it stands now the affomentioned cryptocurrencies below are the crypto which I am holding currently.
- STEEM
- TRON
- Shiba Inu
- LUNC
The reason as why I had choose toI invest more in STEEM coin, is because I strongly believe that Steem will rise up to $5 dollar soon which is an opportunity for me to start holding Steem.
When it has to do with cryptocurrency I stronglyI believe in holding than trading for the following reasons:
- Holding give me peace of minds.
- Holding allow me to earn some rewards through staking.
- With holding I can gain 3X my investment. Etc
For full details about my crypto losses, gain and experiences you can read it fully on the post below.