My Experience on Cryptocurrency By @Akareen
Hi steemians
I began my Crypto journey in 2020, that was during corona virus crisis I was in Kano state Nigeria during my national youth service corp (NYSC) when one of my friends talked about bitcoin to me, to be sincere I never heard that before but that's my first time, he told me that I would make big money if I buy it at low market point and sell it when the market is high.
As he continued narrated it to me still I didn't belief him I quickly remembered that their were some ponzi scheme outside that take our money away without benefit from it. As he showed me all the money he make from their, I about to belief him and I said to him I would give it a tried, I invested $10 to bought bitcoin that same year I stored the bitcoin on my Luno wallet untouched after 3 month I checked my wallet I was so surprise because it was yield a good profit.
Later on, I also bought some Nano (XNO) on Binance exchange and then I transfer it to Natrium wallet, this wallet is only met for Nano only. I stored my Nano coins there within 2 to 3 months my Nano coins have increased tremendously.
Sometimes I gained, sometimes I loss especially if I didn't study market well, I could remember when I bought Sushi coin in binance exchange and I forget to set my target at stop loss but eventually I lose some part of the coin, up till now am into trading of any crypto of my choice.
• This exchange have good security which is very difficult for hacker to have access to your coin.
• Since Nigerian government banned it citizen not to trade crypto in the country, Binance exchange allowed for p2p which enable the buyer and seller to trade in their platform.
• Another things is they will update you what is currently going on in their platform unlike others exchange platform.
• All those small asset can be covert to bnb which you can quickly sell on p2p and you use that money to survive for the day.
And the Disadvantage include:
• Since is an exchange you can loss your coins because it doesn't have digital wallet.
• Is very difficult to operate because the exchange have so many feature even the experience trader confuse sometime on their platform.
• Some countries does not allow binance to operate in their country because they consider it as an illegal company.
Regards
@Akareen
Thank you for participating in the contest that we held in this community
You have quite a good experience in the crypto world, I wish you good luck with all the assets you trade on BINANCE EXCHANGE
Thanks for this wonderful comment, see you at the top