How my Journey begin in Cryptocurrencies [Poloniex, Bittrex, Binance]

in cryptocurrency •  7 years ago  (edited)

A year ago, I thought Bitcoin trading is a Ponzi scheme, tricked people to invest in a business that doesn't exist. One evening, I saw several news channels talking about Bitcoin and its bubble. Later on, I started to learn cryptocurrency and its role in the real world. How all this began? Why people are crazy about cryptocurrency? Do they really get you lambo? So many questions came to my mind.

History says, pseudonymous developer (not sure whether a person or a group of people) named Satoshi Nakamoto invented Bitcoin in 2009. Generally, Bitcoin is a P2P decentralized network and fast electronic payment system through a mathematical proof without any intermediaries. This influenced me to invest in bitcoin and also other cryptocurrencies.
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Earlier, when I bought or invested in Bitcoin. It cost me just $720 per BTC in Coinbase. For the next 2 months, I was busy in my personal life. To keep up to date with price and Crypto news, I even had to join some of the bitcoin Facebook group and twitter page. I read many articles and connected with many friends who are in crypto for a long time. It was a great journey, I learned about mining and trading cryptocurrencies.

In the beginning, I was trading on Poloniex for a couple of months. To be frank, I lost huge in altcoins because of Jumping in rush trading. It leads to down by 50% of the overall investment. I contacted many friends online to learn about trading and how they make huge profit in alts. Friends suggested many whales telegram channels, discord channels and Facebook groups. I'm not going to lie, some are helpful and 10-20% profitable. There are some pump and dumps free channels, who always post coin name and boost premium member investment. In my experience, I believe alts move according to their future motive, technical analysis and upcoming events. For example, let say a coin announce hardfork or a burn news. The price of that coin instantly moves 50-70%, sometimes doubled that coin price (2x). Similarly, some events also play major role in altcoin price drops.

I suggest all new traders to invest according to upcoming events, technical analysis and market condition. These strategies help me to build a trust between other investors and they approached me in profit sharing investment program. So that, I can trade on their investment and share profit on a weekly basis. Following up these strategies, I own a channel, making huge in weekly profit-sharing investment and became successful traders. If you are new crypto traders, I suggest to move on with my pathway. Some days, you can also become a successful trader.

When it comes to exchanges, Choose at your best or supported in your country. You can either make choice among bittrex, Binance and bitfinex. All you need is patience while trading on cryptocurrencies.

Keep in mind:

  1. Dont buy/invest, when the coin already up or jumps in a rush. It leads to long-term bagholding.
  2. When you are up in profit, Collect/sell your holding part-by-part.
  3. dont look for huge return or aim for lambo investing in single altcoin, diversify your investment.
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Heard about bitcoin for the first time in 2013. I thought it was a scam and ignored it. In 2017 I saw a video that explained blockchain, instantly bought my first coins. What convinced me is not a huge growth of market capitalization(in part yes), but the technology behind it. Blockchain is the biggest revolution in our generation. It's so great to live now and see its development.

Exactly, blockchain is one among great successful human invention. Few countries don't support bitcoin and other cryptocurrencies, because it can be used as a payment method for illegal activities. Moreover, the Government cannot track the identity of any transaction made by users. Although, cryptocurrencies has easier and faster electronic payment mode, there are disadvantages of crypto.