Learn from the mistakes of the worst crypto investor EVER: Me! Here are some of the reasons I qualify for worst crypto-investor ever:
I earned about .25 BTC/week by mining bitcoin when it was only $400 per bitcoin. I sold every bit of it for US dollars to pay my internet bill. (Price is now over $2200 each)
I purchased 100 litecoin at $4 each and panic sold for under $4 days later (Price is now over $40 each)
I purchased 40 Ether at $13 each and panic sold for $12 days later (Price is now over $195 each)
I purchased and sold a handful of other crypto currencies that have since had exponential gains such as Dash, Ethereum Classic, Factom, PivX, ChainCoin, TransferCoin, Crown, & Namecoin, but the 3 mentioned above have been the worst
|
|
What I've learned
- BUYING & HOLDING long-term has been the most profitable trading strategy for me
- Holding long term has proven more profitable than day trading for many, not only me.
- Crypto-currency investing involves more than analyzing charts, you must stay up to date on crypto news around the world. (Example: Litecoin price raised exponentially once seg-wit was signaled. Bitcoin price rose exponentially once Japan recognized Bitcoin as a currency, etc)
- Checking prices everyday may invoke fear and cause you to sell, but keep a long term view in mind if you really believe in the technology
|
|
Please share some of the worst moves you made in crypto-investing. ♥♥♥