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Well just buying some Bitcoin (BTC) is boring so I decided to invest a little bit of money into a trading portfolio.What´s that? Just like with stocks, your holdings are considered a portfolio, so a trading portfolio are holdings you trade with on a Crypto Exchange. Oversimplified, buy low and sell high.
Guess I got lucky, although I don´t believe luck is a big part of trading but more on that to come in future posts. But my timing was wonderful, I got in when BTC was at 27K and the same year it hit 67K while we also saw two bull runs in that year. This means that if you were holding some crypto assets prior to the bull run, they increased in value.
Nope, unlike the popular opinion that 95% of all traders lose money I made money. Keep in mind that these statistics are based on day traders and not hobby traders, like me. But I guess you are fishing for numbers, right?
Now when I started, I set aside $1000 in Bitcoin, which now would be worth around $1300. Hence, there is $1200 magically added to my Bitcoin wallet. Btw, I am talking in dollars as that is for now the most common way to express values in the crypto-verse.
Honestly? In crypto there is magical internet money and I really mean free money up for grabs, but I will write about that in the future. So, what happened is that I made money trading, turned that into Bitcoin, and sent that from the exchange where I traded to my wallet. That is how I ended up with $2500 instead of $1300 if I would have done nothing. Which would still be $300 profit in a year.
Yes, there is more, most importantly that even if I lose everything I have in crypto today, I would still not lose anything but the time I invested in crypto as I was able to withdraw my full investment after a year. Hence everything I am playing around with is profit. This brings me to rule number 1, never invest what you are not willing to lose.
Yes, crypto is fun, volatility is your friend, and Do Your Own Research. So, everything you own is profit, so how much do you own? Really, you really asking the how much have you got question to a baby?
Okay well as you might know, or not, it´s not the best time right now. But it could be considered a good time to get started. You don´t want to start with Bitcoin or Crypto when it´s near its All-Time High (ATH), but rather when it´s low. And considering the Bitcoin ATH was 68K and we are now at 38K we are not close to the ATH at all.
Bitcoin dropped 44% since November 2021 and the lowest point it has touched in the last year is 28K, so we are much closer to the bottom than the top.
This means that I lost over 50% of my value as many coins I hold lost over 70% of their value so I am worth less now than in November, approx. 70% less maybe more. This means that its value is relative in the crypto-verse, and that I can tell you what I am worth now, but that it can go up or down 70% in 3 months.
Buying, selling, staking, earning, writing, affiliating and being early in one particular project.
Being early is a good thing in crypto, especially in the project that made me the most money last year. It´s a sort of Facebook for Crypto Enthusiasts called Torum, and I joined right after I entered the crypto-verse.
At that time their coin was worth 0.04 cents and you could earn it by completing daily missions like posting, liking etc. So, no investment required, btw you still can use the link and look me up if you are curious https://www.torum.com/?referral_code=bitcoinbaby .
Now that project got a lot of attention when it went live in November 2021 due to Fakebooks Meta story and their coin XTM shot up just after they went live (you can call that the X-factor, I call it the Elon Factor will explain in another article why), and I was holding a lot…..and I sold most of it.
That allowed me to turn my initial investment back into fiat money and invest the rest in something else.
About $4500 after fees I think, but that was when the coin was worth over a dollar, right now it´s worth 0.16 cents….that is how things can go. I sold for around $1.20. Which in the end was a good call, but it could have gone up to $5. Therefore two more golden rules, never look back if you sell with profit, and always take profit on your way up.
Anything else for our audience?
Well learn the basic lingo if you´re interested like Bitcoin is Bitcoin and Alt Coins are all coins that are not Bitcoin. There is another article on that planned, but understanding the Lingo is key.
Don´t get in if you are not willing to get overwhelmed. I mean if you dive in like me, you will be spending many hours in the crypto-verse each week. Of course that is not a requirement, you can buy $1000 of Bitcoin (BTC) and wait a year and then go back and see if you are in profit.....but the risk is that during that first year you have checked your portfolio 10.000 times, watched a 1000+ YouTube movies, read thousands of posts and probably written some yourself. If crypto gets you, it´s a virus unlike you have ever seen.
Just one more thing, do not think crypto is going to make you rich. I got in with the idea I would lose everything in the first 3 months & I did not, or not yet at least.
Crypto is fun, it´s a game, and like with any game you win some & you lose some but be careful y'all it´s addictive.
Have a lovely rest of your day and do not forget to hit that Like👍 Button.
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