Stupid Things I Did With My Cryptos!

Disclaimer: The purpose of this article is only to share some of my mistakes, regrets, and my actions which I consider stupid, in trading and in managing my cryptos in general. This is not intended for financial advice. Always read at your on risk.

I have been in the crypto-verse for quite some time now, but I only became so engaged in the last quarter of 2020 because of the influence of other users on this platform. From just being a frustrated writer, I became a frustrated trader, farmer, and investor.

During these times, I surely had a lot of mistakes with my trading strategies which I still regret every time I think about them, but I have learned from them too. So let me share them here to avoid the common mistakes I've experienced with managing my cryptos.

1. Buying tons of shitcoins!

Well, I couldn't deny the fact that I also made a decent amount of money from my gains with hunting shitcoins, especially with the Elongate Token before. However, I still lost all the profits I've earned because I reinvested them, or let me correct that with I gambled them with buying more shitcoins. Instead of having more BNB, I got more senseless coins sitting on my Trust wallet now which I bought for $30 each token before, but have only $2 to $0.53 value now. They became display that has no value. If only I held the BNB I spent on these shitcoins, I could have more profits now.

2. Buying Unfamiliar Coins

I have a lot of unfamiliar coins on my wallet that have a huge loss too, but let me focus on this one. Do you know Swamp? I, who have it, don't even know anything about it. Well, I did some research anyway. But I just bought this token during the bull run when I took profit on my BCH holdings. I bought it because it has the highest APY on beefy.finance before so I staked it there. As you can see, I spent a total of $180 in buying it but now it is only worth $7.18 with a huge loss of 96%. What an eyesore! I should have just bough back my BCH holdings I sold back then. I don't know if this was rug-pulled or not, and I don't have any interest on it anymore.

3. Sold my Top Coin for New Coins

I'm not gonna look at CUB as if it was a bad investment because I still believe in this project with great team behind it. However, just like what I did with BNB and BCH for shitcoins and unfamiliar coins, I sold all of my ETH for CUB. As a frustrated investor, I tend to go all in on coins that I believe will give better returns, but with this one, I'm not so sure anymore, especially that ETH seems to have a very bright future. Lols I still have a huge loss (73%) with CUB and all I can do is to hope that it will recover soon.

4. Selling my CAKE Earnings for meme coins

I was holding a good amount of CAKE on my wallet so I decided to make use of it by staking it on the Syrup Pools in Pancakeswap. However, another stupidity I did is to convert my earnings into BNB and use it to buy memecoins. I even converted some of my CAKE just to add more of it because I was greedy for profits. Aside from DOGGY, I also bought BARKING and RADIO CACA (RACA). I couldn't track my losses from these coins anymore because I decided to forget about them when the market crashed. But now, I'm writing about them. Lols

Aside from these switching from top coins to shitcoins, new, and memecoins that I have shared above, another stupid thing I did with trading is to Buy Low, Sell High, and Buyback Higher. (If you're doing this, I'm not saying you're stupid.) But this is what usually happens when FOMO (Fear Of Missing Out) kicks in. Unless you get to sell at a higher price again and decide to buyback at a lower price later on, you'll be at a loss if you always do this. I just figured it out when I kept doing this with my Bitcoin Cash. Instead of having more BCH holdings, I ended up losing a portion of it because of this stupid mistake.

Lastly, deciding to cut my losses then the price pumps afterwards. This always happened to me. Lols It's like the market is trying to mess with me or maybe it's just that I don't have enough knowledge with Technical Analysis. I don't know how much money I have burned already by just cutting my losses but it's surely more than my own savings in the bank.

These are just some of the stupid mistakes I did that make me regret but I surely learned something from them.

Investing money in the crypto-world is very risky and you will just end up losing your hard-earned money if you don't have any idea with what you're doing. This is why they always say, DYOR (Do Your Own Research) and TAYOR (Trade At Your Own Risk).

Cheers to Learning From Our Mistakes!