I should have hold on a bit longer: My mistake, regrets and experience shared.

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Avatar for Kong
Written by
3 years ago

It all started in 2016, I was a young teenager at the time. I was driven by passion, self motivation. For a young teen, I was very ambitious. It all started a few years after my high school. The internet was cooking something up. People were discussing the groundbreaking marvel of bitcoin.

A decentralized digital currency. Not under the control of any western leaders, politicians or the government. The idea of bitcoin seems like a Ponzi scheme and yet a goldmine that would change the world.

As a Nigerian, my most visited site at that time was bitcointalk.org, and blackhatworld. I spent quality time reading articles from blogs and websites. As long as it's from the United States or UK. All I wanted was to make money fast. My mistake I had no one to mentor me.

At that time bitcoin and altcoin wasn't fully accepted in Nigeria. Most believed it was a get-rich-quick scheme, and that was a red flag. Only few took the risk, and I was one of the few who did.

I read pages and PDF on bitcoin, dogecoin and any major currency. I thought to my self it would be great if I had a piece of this coin.

So ,I created my first bitcoin wallet on blockchain. Luckily, for me, I came across a young Nigerian like my self. Through him, I bought my first bitcoin. I could remember how I saved up just to buy my first ever bitcoin.

On December 5th, 2016. I received coin in my wallet. I could remember the joy and over excitement.

MY MISTAKE

I continued my research, and I read a blog post about "cryptocurrency trading" I only read the benefits and a few guidelines. I believe I was ready. And I went over to bleutrade.com

I traded a few times, made profit and lost most of my coin. Remember my aim was to make money fast. I was impatience, and I never took my time to understand, the risk, basics, neither was I patience to master the act of crypto trade. I wish I was focus. Maybe by now I would have become a big time trader in 2021.

After I lost my coin I bought a few coins including dogecoin. I trade again and lost. This time I gave up on cryptocurrency trading for good.

Later on, I bought more coin. More of btc and less of dogecoin.

I should have held my precious coin for a longer time.

I bought 0.00707567 BTC which is worth $400+ today. I completely blew it all at that time.

I got brainwashed by a guy I met online. And he introduced me to a Ponzi scheme called 'Bitcoin Doubler' I invested some coin and got double of what I invested. I felt rich, even though I earned less. Lol

I never knew it was a trap. Greed got the best of me and I stake all I had at that time.

This is how much this coin is worth as of 20th-feb-2021. These guys made away with my coin. It was all I had. I knew I was stupid at that time.

I was overzealous, and I wanted to make money before 24. It all went down the drain. I regretted my action and wished I could go back in time. And have a heart-to-heart discussion with my teenage self. Its impossible and I've learned my mistakes.

MY EXPERIENCE

1: I got exposed to the Internet at a very young age maybe at 14 or 15. My dad worked at the bank. He made sure we had our own PC

2: I was lucky to have come across bitcoin at a very young age in a country where most teen aren't privilege to own a CDMA phone.

3: I made contact with the westerns world at a young age. Most Nigerians would have used such opportunity for fraud. But I choose to have a future.

4: I can still make it. I'm starting the race again with experience.

MY REGRETS

1: I should have been patience and hold on to my coins for at less 3 years. I never knew cryptocurrency would change the world in 2021.

2: I should have learned a digital skill at that young age. Hopefully I wouldn't have been where I am today

3: I learned my lesson. Nothing in life is easy. And there is no such time as to get rich fast. It takes time and patience.

4: Greed doesn't do well with success.

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Avatar for Kong
Written by
3 years ago

Comments

Very interesting, I agree greed has no place in investing. Be fearful when others are greedy!

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