"BCH" my risks, my losses, and my gains

Making money via crypto trading wasn't my take as I didn't have the time to learn it due to my busy engagement at work and involvement in other things. I needed to put my BCH to work, at least to earn interest while hodling it. My search for a cryptocurrency legit investment platform took me several months. I didn't want to make a mistake as I was made to understand the risks involved in investing in cryptocurrency platforms. And as they say, "invest what you can afford to lose", but how much can I afford to lose? I didn't want to lose anything, but "no risk no reward".

Binance, the platform where risks began

I took my first risk by opening a Binance account and move all my BCH there. I wanted to learn how to trade coins and make a profit. I join a trading community on telegram to see if I get someone who can teach me how to trade on the Binance platform, but those who offer to help ask for a fee before they can teach. I tried learning to trade all by myself but was soon frustrated due partly to the complexity of the Binance platform and my inexperience in trading. Getting my money out of Binance was a tough one for me due to the security features on the platform. Those who used binance can tell it better. I still have some BCHA coins lying idle on Binance which am yet to decide what to do with it as I write this. I didn't make a dime from Binance but ended up losing some of my BCH for transaction fees for swapping and re-swapping of coins.

My risks and losses on My bonus platform

The binance experience made me conclude that trading wasn't for me. The best I can do to earn a dividend on my BCH was to invest it. I received an invitation to join a local investment platform called MY BONUS, a platform where you earn interest base on the amount of money invested by doing few tasks daily. I didn't want to join this platform nor invest in it. I have my fear about local platforms, for the fact that most of them never lasted more than three months. I did my research about the platform and was not convinced to join it. But after four months this platform was still running. It was as though I judged it wrongly, and so, I decided to join now. I started my investment with exactly $11 worth BCH which I converted to Fiat currency. I watched the business run for about two weeks and was impressed by the return. Then the platform management announced large bonuses for a new top-up on investment capital, up to 100% leverage. This was where I get it wrong. Greed has a way of taking hold of a man's senses if care is not taken.

Moved by the higher leverage bonuses, and without thinking about any possible negative occurrence I immediately sold $45 worth of BCH and top up my balance on my account in the platform. The leverage was added to my account balance to increase profitability. I felt happy seeing my balance rising every day. I didn't want to withdraw the money because I was compounding the interest every day, my target withdrawer time was for six months. I calculated by then I will be a millionaire. Little did I know that the leverage was just a smokescreen to gain extra money from investors. Two weeks after the leverage bonuses for investors the site closes the platform. I lost my investment without making a single withdrawer from the platform.

My escapade on Tron hero smart contract

As though my losses on my bonus were not enough, I took the risk to explore the Tron smart contract investment. I was looking for a way to recover my lost fund in previous platforms. I joined a popular Tron smart contract called Tron hero. The community group on telegram was lively and the testimonials from users on the program were enticing. Without properly study the fundamentals of the smart contract business, I invested 1000 Tron. I converted some BCH to fund the investment. The system promised a 300 ROI in 15 days. I was excited to see how my money was growing every day while compounding the interest. I was dreaming to cash out big from this program. Every morning as I checked my account and see the huge daily ROI I felt like a king already. Then the shocker of my life came. On the tenth day of the program, the withdrawer function of the platform was disabled to stop people from withdrawing from the system because the contract balance has exceeded the daily limit to withdraw.

I thought that was a minor issue as I didn't have any intention of withdrawing until the contract runs out. But the withdrawal function was never reopened again as it used to be. It was been open once a day at around 4 am in my country. But the strange thing was that you never get to be able to withdraw from the system at the time the withdrawer function opens. I tried several times to withdraw my money but was only ending up burning more Tron for gas fees at every withdrawer attempt. Strange enough, while most of the investors were wasting time and burning Tron as gas fees trying hard to withdraw, others were withdrawing to their wallets through tronscan, and they did it repeatedly until the contract balance was drained. I lost again with a big lesson I will never forget. Never get involved in what you don't understand or have little knowledge about.

I really was devastated by that incident on Tron hero. I was having almost 20000 Tron waiting to cash out. Regrets I didn't do like others who were withdrawing daily and got back their invested capital on the 8th day of the contract period and get a little extra before the withdrawer was closed.

BCH jolly took some away too

My desire to recover from my losses was becoming very stronger and yet I keep losing more. Then came BCH Jolly, a BCH mining site. Those who discovered it early wrote positive articles about the site. I took the risk again but this time with a little caution. I send $10 BCH to the mining pool and start the mining with a 2.5% daily return. I waited for 8 days to make my first withdrawer of about $1.50, and forget about it for a month. My thought was that since it's a mining pool there's no need to check on it all the time. After a month, I was ready to cash out big from the site but was shocked to found out that BCH jolly has closed shop. I lost $8.50 again.

My cryptocurrency investment experiences have been characterized by losses as you can see. My inexperience and obscure judgment have always played on me. However, I must admit that the lessons learned from these experiences are invaluable going into the future for me.

My BCH, my gains

While reminiscing about my losses which I was not able to tell anyone, luck shine on me on read.cash. Two of my articles got a huge upvote to the sum of $310.00 from @MarcDeMesel, what a great relief it was for me seeing that upvote. You can tell how excited I was shouting it around everywhere what @MarcDeMesel did for me. After losing almost over $100 on a try and see investment God sent someone to give a recovery. You can judge it the way you feel, but for me, it was God's mercy on my inexperience and ignorance about cryptocurrency investment.

Did I stop investing after then? Not at all, but now with much carefulness and actually with what I can afford to lose. I joined another local investment platform with $8 for a start. After a week of running the investment, I received a payment of $3.80. I decided to increase my invested capital to &45 and watch it runs for a week. Again I received a payment of &26. In another week I got back my investment with a little extra gain while the investment is still running. For over two months now I have been receiving at least &30 every 7 days from the platform. Interesting, my daily ROI keeps increasing as others join through my link. I don't know if this platform is international or not, it's a good investment platform that I can recommend to anyone. In case you want to check if it's available in your country, the platform site is called Stepworks.com, you may have to Google it to know about it.

Moreover, I have a good amount of BCH in Nexo which is gaining little interest for me daily. I actually put it in a fixed term to earn me 5% interest within the period of the fixed term. The thing I like about Nexo was that the system doesn't affect your Crypto from rising in value, and it also safeguards your money from being affected by volatility downturn because your money was lent out at the value you sent to the site.

And here is my biggest gain, BCH breaks all high to almost double in value since the time I sent my money to Nexo. Besides, my earnings on read.cash for last month and that which I have been able to earn this month has also increased handsomely. These are enough gains for me.

Conclusion

Lessons learned the hard way can be so painful, but when you can get yourself back on your feet they become guide posts for you in future endeavors. I have learned my lesson and willing to share it so others can learn from it too. Risks should be taking decisively and calculatedly. If you cannot learn how to trade cryptocurrencies the best option is to just hodl in your private wallets, with time you can make good gain. Hodling BCH is great gain.