Would you want to know how i got scammed and how much it took for me to recover all my losses? What did i do to recover my loss? If you have similar story will you share it with me?
OK, now i will share my story with you.
I am in this Crypto since the end of 2016. I was a complete newbie at that time finding my way around. I listened from my friend that there were some revenue sharing sites over the internet paying up to 20% to 25% per month. I converted my fiat into bitcoin and then invested into one of the revenue sharing site. After one month of joining the first one, I then joined another one and the other third one. I had invested almost $ 1000 on each of the platform, almost $ 3000 on total (Equivalent to 3 Bitcoin at that time) and not withdrawing more than 10% of what I had invested before it turned out to be scammed.
Trading in the Crypto market has been shown to be the most efficient and effective way to turning money into more money so I decided to trade Cryptocurrencies. This is the first trade I did on Poloniex exchange. (Doge coin and the other Steem)
But I was beginner at that time and therefore made a lot of mistakes. I could not hold crypto for long which was my weak point. I used to sell under 2%-5% of profit and even suffered loss during market crash for being panic seller.
At that time I even invested almost on other 3 Ponzi scheme for quick gain (such as bitcoin doubling sites) and again after 15-20 days of joining, I got scammed. After this one, I thought it was all over then.
But then after May-June 2017, the price of Bitcoin started to increase continuously from $1000 to $2000 to $3000. At this point, I understand the meaning of holding or hodling.
After being scammed 7 times and other losses due to panic selling, I learned that buying and holding is the key to long-lasting and fruitful retirement. I keep myself updated regarding cryptocurrencies, market situation through YouTube videos, articles, news, blogs etc. Now I buy and hold cryptocurrencies only for long-term and don’t prefer swing trading. Now I have made a lot of improvement, recovered all my losses and made a huge profit. This is how my portfolio looks now.
I am most thankful for because I came to know about this platform (steemit) through
's videos on YouTube, his twitter post and blogs.
I failed many times but that will be counted as my lesson and experience and I’m certain that these mistakes would make me more strong and positive in the future. Once again I am grateful for respected person for giving me opportunity to know about the steemit platform and I’m thankful for steemit for this awesome platform where I can share my experience, knowledge and many more with large members of the steemit community.
For those who are new to this cryptocurrency, I want to say through this blog that, buying & holding and investing requires focus, patience, and, most importantly, discipline. In order to succeed, investors must avoid getting caught up in violent market swings or other short-term influences, and invest in cryptocurrency that they feel comfortable holding for the long term.