As many people, I got interested in Bitcoin and Altcoins in early December 2017.
- The first few weeks, I was only reading and watching videos on Youtube about it
- Somehow I stumbled upon this strategy on how to invest in Lending ICOs.
- The strategy was to get in at around a Dollar per Token and once the price goes up - to put a part of it into a loan and take the other part out.
- Now you would have money in your pocket and a free loan, from wich you would take out the interest every day - and never reinvest.
Around that time, there were a few Lending Platforms that hit 10$, 20$, or more per Token.
So I decided to try it out, but only with money I could afford to lose completely.
- The first one I got into, was Monyx on Christmas day.
- 40$ gone - they're cutting hair now (15% haircut, after they screwed up and lost money).
The next one was Loopx:
- They collected some more money for a few days after launch, aaaaaaand exit scammed.
The last one did not even get to their ICO:
- I transfered 100$ the day before the ICO.
- A few hours before it started, the biggest Youtuber who promoted it told everyone not to invest, because Knoxcoin disabled withdrawals from their site.
- An hour or two later, they were gone and I was one of the people who got knoxed.
Did I learn my lesson from any of this?
Well, not completely. I still got into another platform, after the ICO - and they're still around so far.
Now, I might still take the gamble from time to time, but only after the ICO.
- Next time, I'll wait for the price to drop, after the initial pump.
- And I am only going to risk around 50$ from now on.