Today I made my first step in the crypto lending platform. For a while I did hear about this platform and how profitable it can be if people are smart about it. After doing a lot of research and finally accepting the risk. I decided to just jump in and see what can happen going in with a $100 lending contract. Based on the contract agreement with this $100, I should see about a $410, which is pretty good. This amount of course depends on the market and the daily interest rates associated with the market, but it is still not really bad. Based on how it goes, I will use that $410 to flip and maybe continue going and maybe make some money.
A $100 is small amount, but I figured if for whatever reason something does goes wrong. Those $100 that I lost will not hit me hard. About $100 is what I would spend on a basic date, maybe a night out drinking, or maybe shopping.
When doing my research one thing that a lot of people kept saying is don't go all in and invest everything you own. Start out small (whatever amount that may be) and take it from there. The money made or can make is the money that should be touched for reinvesting. There is no real need to continue putting personal money. Unless a good deal pops up, or you want to invest a little bit more because the comfort level went up a little.
Hopefully this journey will end on a positive, but until then fingers crossed.
Thank you for reading
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