How I Heard About Cryptos/ Trading Alts'?
I have been a big technology nerd since I was about ten. I actually first heard of bitcoin about seven years ago, when I was eleven. At the time I was not thinking about the currency of the future, probably just about whatever game I was playing.
The only thing I vividly remember about the time was the price of Bitcoin(under 100$). Had I been in the mindset I am now, I would have bought thousands of bitcoin, but I wasn't, and I didn't. Fast Forward about seven years, working a dead end job as soon as I got out of high school. I met this guy at work, every time I'd go to talk to him, he always had these graphs on his computer. One day I asked him what it was and he told me. That night I immediately went home and search for alt exchanges on google. He had told me about one called Bittrex. I signed up to many different exchanges and bought about 25$ worth of bitcoin. I wanted to start small because I wasn't very knowledgeable in the crypto world. Eventually I studied technical analysis and market movement.
Working a 9-5, trading at night
After high school I decided to take a year off and work. Working for minimum wage and depositing my little bit of extra money into trading. The first trap I fell into as a newbie, was a hype trap.Better known as FOMO(Fear Of Missing Out.) Bittrex was taking forever to verify my account so I looked elsewhere to trade alts. I signed up on hitbtc and coinexchange. As a newbie trader I often looked to the chat box to see what people where talking about. One day while reading the chat box(better known as the troll box), I saw people spamming about this token called LIFE. Because I was new and not playing around with extraordinary amounts of money I decided to pick some of this token up dropping all my bitcoin on it. After reading more through the chat I could see that it was being spammed because people where buying it for 1 sat on coinexchange and selling it for the min. 10 sat on hitbtc. Having picked it up at 10 sat I could do nothing. After awhile I decided to pick up some LIFE on coinexchange for 1 sat and send it over to hitbtc.
My First Real Success
Having picked up about 400$ worth of LIFE I decided to wait it out. I eventually bought more bitcoin and moved on to other things. One night in January I was checking up on the token to see if it had moved anywhere and I saw massive amounts being boughten. I actually sat there for a few hours watching more than 800 million tokens being bought. When the token hit 50 sat I made the heartbreaking move to sell off 1/3 of my holdings.
I cashed out half my gains and reinvested the other half into Stratis(Which is currently tanking.)
Summary
This is just a little story about getting into trading. I will continue to post my experience as newer trader after learning the things I've learned. I will have many more success stories like this to come if you follow my journey. I will also be posting some of the projects that I'm going to be getting in on(so you can have successes too!)