Introduction: The beginning - my first steps into the crypto world
Well....
i was thinking about starting a small crypto blog, about ongoing projects in the crypto space and my experiences with them, for quite a while now...but I just could not motivate myself to get it started. It felt as if something was holding me back and still is...but nvm, I hope my posts wil be of value for someone out there.
My mistakes - my gains - recap
So here I am 2018. I guess until now the market was most of the time bearish. I started investments and engagement in late 2017, damn what a hell of a ride.
Bitcoin was the first one out there and the first one I invested into. I realized pretty quick (2min) that I am fucking late.
I already had some BTC mined before and engaged with the subject really quite a few years ago but never started investing into it. I knew BTC LTC ETH BCH way back from before, I was already into the subject around 2010 but I was not confident enough about my knowledge to risk any money putting in. When I checked CMC it just blew my mind....guys I wasn't paying attention and didn't focus on BTC for one and a half years maybe and then this. It was pretty clear that thinking about doing something, learning how to do it, is nothing if u are not doing it in the end.
Thus I had to dive in.
I read whitepapers. Lot's of 'em. I dreamed about crypto and I bought crypto and the most important thing I had to learn is: JUST DO IT (carefully).
By the way STEEM was one of those projects I directly applied to. It took 'til January to get my account created :D
I made mistakes.
I guess they would be big ones if I would have spent more money on the mistakes I made. I have not bought the dip! I am a sinner. I have not waited for the dip but just bought it, as I am here for the long run.
Not the smartest move I made.
My actions were the results of being forced to focus on as many promising projects as possible but then only investing in one. NEO is one good example of it. I read about NEO when it was about 15 bucks but at that time I already had put my money into BTC. December came and XRP cought my attention. Bought in at 40 cents a piece, sold it for 60 bought in at 80 again (with holding some gains back in BTC) and so forth. Made some profit. My portfolio was small at the time holding XRP and BTC. I had to make a decision. I wanted to diversify my portfolio. Fast.
I was not really comfy by hodling a centralized crypto like XRP, so I sold it into IOTA and EOS, even if EOS is not really decentralized as well. End of December. I was already running out of time. My list of projects grew every day and I could not hold the pace in which the whole market was moving. NEO XLM and others where out there waiting for me to grab 'em. I was frustrated. I had to keep a constant flow of money going in every month (quite small amount tho) if i wanted to keep pace with me market 'hah(insert picture here)'. Still it was not enough to get my damn NEO.
Mid January.
My plan was clear. Invest a bit every month. Prepare to loose. Prepare for doom. Spread out ur portfolio but buy BTC or ETH every time I invest .
One or two weeks later.
Started. Bought NEO at 100 bucks :D was fucking happy to be part of it and I am still happy even if the price charts broke ma heart in the meantime.
This is the hardest part of investing. When do u grab which one? Wait for the dip or just buy (Never waiting)? And which project deserves the money in the first place!?
XLM EOS ETH ICX ADA LTC BCH were integrated into my portfolio. Meanwhile I already realized that this will be a lot of fun. Bearish market, superseded by huge gains where becoming part of the day.
A bit later I also accumulated Steem...as always not buying the dip but well this will change in the future!
Nope. Just bought in.
ZIL 0x IOST ONT KNC ICN LRC VEN KMD NCASH LSK and BNB where integrated into my portfolio. 'til now not all of them are doing great as I have not bought the dip :D.
I found out about MANNA. I like it as I like the idea of a universal basic income for every human being. Go check 'em out! Very decent project.
I like airdrops and I like SMOKE.
https://smoke.network/
March/April.
I am realizing that buying the dip of the month could be quite essential for my nerves in the short term. Long term I am still confident a lot of em will payout. I also would like to mention that most of the investments where small ones ranging in the minimum order.
May. Just bought in.
Now more carefully as not buying the dip is just plainly stupid. I get better on buying the dip even if am not close at all i got the feeling of moving into the right direction. KCS MITH GAME AURA went into my portfolio.
June.
I am still not even close to where I'd want to be but KCS helped me to relax a bit. I eased my mind 'cause i am accumulating other cryptos by holding KCS which gradually helps to keep the FOMO away. Last month I discovered IDEX. I like it but i guess there are still better ones out there.
Just bought in. HODLING DROP now. Blew my mind as I am searching for a service like DROP for such a long time. If this one is legit....DUDE...DUDE! I guess it'll get fuckin huge in no time.
BANG! Flashcrash! Just lost my previous amount I invested like two days ago...
I AM FINE. It is just the bear market! Anyone else getting a headache or mild depression? I guess i feel like everyone else, who invested at the end of 2017 but i didn't get my Lambo yet. MY and YOUR effort should have paid out INSTANTLY. I am happy I survived til now. Anyone who is not having his ups and downs can be described as 'Fels in der Brandung' look it up. I am happy to be still here even if my mistakes are holding my profits back. Time will tell if I have an eye for GEMS or shitcoins.
What I've learned
do not ever sell ur position if u are going into minus just because another crypto is peaking, have not done it though as I am a HODLER or a user of the crypto I own.
invest into passive gains. I love the idea of money working for u especially if the crypto is intended to give u passive gains.
read the whitepaper. I have not read the whitepaper of ZIL but was really interested into it. Thus my investements were really small as i focused mostly on charts and news.
join some telegram chats. read the "medium" articles, twitter blog post and a lot of different sources that are related to your projects. As u will be overrun by DATA.
no money. no investments. Never ever am I going to allow myself to lend money. If anything goes to hell in SHORT TERM and u can't pay it back. Ur debt will leave u in a worse position than before.
stick to the one u like not the ones which are popular right now. You may still buy a bit of those where the charts are just crazy. Those should be high risk investments and should not contribute to ur portfolio!
buy the fucking dip. I hate it but well buying the dip or better buying at the right moment will make everything a lot easier, i guess it'll take some time to get used to it.
DYOR. Read and investigate into projects. Only invest a lot if u know a lot and still be prepared to loose everything.
Make mistakes. Everytime u fail buying the dip. Everytime u got scammed, fudded, fomoeeeed or whatever. Even DYOR will not save u from being a sucker sometimes. The thing is, if u are here because u are believing in the project, u may find urself hodling. Appreciate the project, use it even if the price drops. Just tell urself that selling is not an option if u believe in it. If u are investing small amounts regulary into those u believe into. U will even out the price even if u have not bought the dip. Weak hands will only transfer ur money into stronger hands.
do not make a mistake to often. Once maybe twice maybe a third time but come on! adapt or die.
write down your thoughts, stats and anything worth of knowing. Cryptospace is evolving in such a fast pace that u will be overhelmed by the possibilites and the amount of DATA. Note down everything what is important! Especially when u did an investment/trade and for what price. E.g. "I bought BTC somewhen in February" is not the best option to track ur progress. U will learn faster if u can see and then reconstruct ur actual stats and performance.
do not check ur portfolio every minute if u are not a day trader. I was getting addicted to it checking every second. Not healthy not good.
get some help from others but still be responsible for ur own portfolio. Any source of DATA is valueable even if it is FAKE NEWS. Talk to others and read a lot. More DATA makes everything easier. Connecting to people does the same.
spread out. Even if u think that XYZCoin will be the future, please consider that there are other shitcoins and good coins out there which u haven't even heard of before. So invest but look at all the others as they may be supersede ur favorite project.
Wait but why?
Because Crypto space holds a lot of, and this is the important part for me, chances for the future of humanity.
Maybe this sounds a bit odd but let me explain myself. I am as everyone is, (I assume) interested in monetary gains and there is nothing bad about it. But value, in my opinion, can not always be measured in money. Lots of ideas are not realized becuase of the pressure to achieve the biggest gains in the smallest amount of time. Projects which may are of humanitarian kind won't give u astronomical gains in the short term but they could boost the whole species into a new age in the long term. I want everyone outside to engage in their own future and I can help with this by typing this down.
Let me know what u think
What about u guys out there? When did u started moving into the crypto space and how was ur ride til now?
I am a rookie at writing posts! So if u have some tips how I can improve myself I would appreciate it from anyone who reads this. As knowledge is everything! I am not even close to be able to keep up with the speed the market evolves and I would appreciate if u have other great projects which I have not mentioned before.
Feel free to help me I as I obviously need some help to get my DATA into a nice suit. Anyone who wants to talk is gladly invited to do so. I would be already happy if this post reaches 1 person out there who is willing to exchange knowledge or wants to grow together.
That's it for now! Everyone who has read this text in it's entirety should be rewarded :D not sure how though. Anyone want some free upvote? :P
Thank you. Sharing is caring!
Sources:
charts - coinmarketcap.com
DO IT - https://www.youtube.com/channel/UCMXssArzoMvDQ3hRuZgZpGA - Shevy Memes did a good jab!
https://smoke.network/
https://steemit.com/@mannacurrency