Hello Everyone!
Here is the interesting story about my first interaction with crypto currency!
I was scrolling on YouTube and a video of a random youtuber appeared in front of me, saying: "Trade easily on BINANCE and earn millions from just 20 bucks". The video had complete information about the procedure of funds transfer from local currency to the BINANCE wallet through peer to peer procedure and then trading on different coins to earn profit (Or loss, obviously). Then I thought, why do I spend so much time on studying while I can easily earn millions through crypto trading? And its so easy that any random person can do it. Then why shouldn't I do it?
Then another video came describing about more then 1000% increase in the rate of SAFEMOON coins in recent months and the complete procedure to buy it. Then I thought, how unlucky I am! I should have started earlier and would be a millionaire until now!
But anyways, I created an account on BINANCE as early as possible so that I would not miss the profit of SAFEMOON and earn money to get to the moon!
But unfortunately, BINANCE needs two or more days for identity verification. So, I had to wait until my identity is confirmed.
In these two days, I was so desperate to spend money on BINANCE that I kept on checking my binance wallet about verification again and again. Also, I imagined myself buying new heavy bike Suzuki R1 from the money earned through trading of 20 bucks.
In the meantime, I had borrowed the local currency equivalent to 23 bucks from my father and thought: I would return him in millions and he would be so proud of me!
At last, the moment of truth arrived and my account on the BINANCE wallet get verified after two days of desperate waiting!
So, I bought 23 USDT coins on BINANCE through peer to peer network and started experimenting!
I spent 5 USDT on XVS (I didn't even know what XVS stands for!) and bought them in the rate of 87 USDT per XVS and placed the order to sell them at 91 USDT. I thought, slow and steady wins the race!
(PRO TIP FOR NEWBIES: "You can trade in XVS on BINANCE in less then 10 USDT")
Then I looked at the price of SAFEMOON and it was still increasing. So, I installed TRUST wallet in a hurry and transferred 11 USDT from BINANCE to the TRUST wallet.
(The youtuber described to convert BNB to SAFEMOON through Pancake Swap but I decided to use my own intelligence and thought, why would I convert my USDT to BNB first and then trade in BNB while I can also trade on Pancake Swap through USDT? So, I decided to reduce the cost and transferred the USDT to TRUST wallet.)
While arriving at the Pancake Swap, I saw that the amount of USDT in my wallet is zero, while my TRUST wallet homepage was still showing 11 USDT balance.
Then I decided to critically analyze the situation and came to know that "Maybe each huge transaction on Blockchain takes few minutes to be completed as the size of each block is only a few bytes and there would be space for only few cents in each block. As my transaction is so huge that it contains thousands of cents, there is a high chance that few of my dollars have been arrived in my wallet and some of them are remaining. And for the sake of better user experience design, my TRUST wallet is showing a consistent amount of 11 USDT while the transaction is in progress and my remaining cents are arriving in my wallet gradually. As the transaction is not completed yet, the Pancake Swap is unaware of this situation and showing 0 USDT as the balance."
So, after detailed analysis of this critical situation, I decided to wait for an hour so that the transaction would be completed.
But, the problem remains same after an hour. Then I researched about the topic and came to know that the USDT in my wallet are TRC20 while Pancake do not accept USDT of TRC 20.
Then I thought: "Its not a big problem, I can transfer the USDT coins from TRUST wallet to BINANCE, convert them to BNB and again transfer the purchased BNBs to the TRUST wallet to buy some SAFEMOONs. "
But when I tried to do that, a beautiful message arrived at my screen, saying: "You need at least 7 TRX in your wallet to process this transaction"
Then I thought, what the hell? Its like saying: "You need 1 Pound to transfer 20 Dollars from one bank to another bank!"
I mean, what's the point behind this bullshit? Why you cannot just take few cents from my USDTs and process the transaction? The world will be a better place if you start doing this!
Then I thought: "Don't worry I can solve this problem easily: I can purchase some TRX in my BINANCE account from the remaining 6 USDTs; transfer those TRX in my TRUST wallet; transfer the 11 USDTs to the BINANCE account; convert them to BNB; transfer the BNBs to TRUST wallet; purchase some SAFEMOONs; earn some profit and get to the moon!"
But, I think that wasn't my day!
Again, a beautiful message arrived at the screen, stating: "You cannot purchase TRX in the amount less then 10 USDT"
Again, I didn't lose hope and converted the USDTs and XVSs to BNB through BINANCE pro feature and tried to send them to the TRUST wallet to earn some profit.
(Meanwhile, the price of XVS decreased and I lost a huge percentage from my first investment, i.e 20%: that was one complete dollar!)
But, fate wasn't on my side and, a message came on screen yelling at me: "You have insufficient amount of BNBs to process this transaction"
Then I thought and came to another idea that if I can convert these BNBs to USDTs in the amount greater than 10, then I could earn some profit. But, I needed to sell all the BNBs at the rate of 590 USDT.
So, I placed the order to sell all of my BNBs at the rate of 590 USDT. But, after my order: the price of BNBs went on constant decrease. Looks like BINANCE has a personal grudge with me!
Anyways, I am still hopeful that some day, the price of BNB will go beyond 591 USDT and I would convert my BNBs to USDTs; buy some TRXs; transfer them to TRUST wallet; get back my 11 USDTs from TRUST wallet in BINANCE account; convert them to BNBs; transfer the BNBs to TRUST wallet; purchase some SAFEMOONs through Pancake Swap and earn some profit!
I have learned a lot from these experiences and I would like to give some professional recommendations to newbies entering in the Crypto Market:
Few advises for newbies entering in Crypto Market:
Never use your own intelligence in the matters you know nothing about!
Never invest on anything just by watching a single YouTube video
Don't get too excited in the matters you don't understand enough
Never give advises on the matters in which you are not experienced enough. (I have 7 days of experience in Crypto Trading, so I think I can give advises!)
