I had my first cyptocurrency trading experience today. I bought some Reddcoin last month using shapeshift and I cannot see them exchanging it today. Since Reddcoin went up so much, I decided to exchange them half of them away to something more stable at least keeping my profit.
I actually prefer Litecoin but not much movement for it and the price for exchange was better via Bitcoin so I manage to trade and exchange for Bitcoin. I had to calculate the price of Bitcoin into US$ to consider for the exchange. After changing, I wanted to send the Bitcoin to my wallet but realised that the fee was too high. Decided to trade again from Bitcoin to Litecoin.
I had a shock for the second trading as I thought I chose the wrong price for Bitcoin to LTC and lost 95% of my money as the transaction went through so fast. After that, I received my LTC in my wallet and confirmed that I did correctly even thought I sold them a bit earlier where I can gain more profit if I held on longer. I guess playing safe is better when the movement of Bitcoin is so far.
I hope with this experience, I can trade better but the calculation of Bitcoin vs US$ was quite a task especially I have no trading experience. I guess everyone has to start somewhere. I only started in Nov actually. I manage to lower the transaction fee using Litecoin by more than 90% if I transfer via Bitcoin and it was much faster too.
Upvote and resteem are welcome! Make a miracle for me by upvoting this post above $200. Just wishing as there is no harm. With steemit members, nothing is impossible!
PS: The photo above is not me. It is just a free from copyright photo!
@fun2learn
Consider it school fees :-) well done for starting so young. pity it was not earlier in the year or few years ago though. goodluck
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Thank you for your encouragement! Feel free to resteem this if you like others to see!
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So sad of u...bt its happen in online..profit and loss ....
Mistakes make a man perfect ...got it
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Thank you! Learning from mistake is a closer step to success!
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I've been there to on my first crypto exchanges. Kind of fun if can make some profits on it. But i prefer to hodl and follow the updates on the price. Till then, to the moon 🚀🚀🚀
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Thank you for your response!
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@fun2learn, I've found your post to be worthy of a resteem and upvote from me. I'm an actual person and I am doing this on behalf of the Resteem - Upvote movement. Hope it can benefits to others. Join the movement, read about it here: https://steemit.com/steemit/@jackmiller/the-resteem-and-upvote-movement-teamwork
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Thank you!
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Anytime
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Congrats on your first trade. I hope u will have lots of profits doing trading.
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Thank you so much for your encouragement!
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very interesting post...
Thanks for sharing it...
upvoted and followed...!!!
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Thank you so much for your encouragement and following my post!
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Thank you!
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First-hand experiences can always be rusty, me due to my illness and urge to draw out my money led me to regret it. I should have waited before the Steem boom and that wasn't long when it happened. Litcoin was a bigger winner this year than any other Cryptos am seeing, percentage wise it was hitting beyond the stratosphere
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Hmm, we can never turn back regrets. I had some digibyte, vertcoin, nav coin etc few weeks back but exchange all of them for other coins since did not see much grown. Now many had grown so much. I cannot turn back time.... Can only learn to be patient in future.
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