Hello, lovely people around the globe hope you are fine and doing well. Today I choose to write a homework task forcryptoacademy which is about Crypto investments.

Discuss your first experience investing in the crypto market.

I am pleased to jot down that I owe my allegiance of investment in the crypto market to Steemit and Steem. I joined Steemit in September 2020 and somewhere around December I cashed out 400 steem and at that time I got around 4000 INR. That was quite normal for me and I was happy to have an accessory source of income for me.

A few months later, I again tried to cash out 400 steem. I transferred them to Wazirx wallet to withdraw 4000 INR to my bank account but at that time, I felt like being at the top of the world when I looked at the INR value of 400 them. It was about 65 INR per steem and for 400 steem I was getting 26K INR. I was so dumb till then that I couldn't understand how that happened. I called my cousin and told him about it. He too couldn't understand what and how that was. I immediately transferred funds to a bank account. Than i started researching about the crypto market and I came to know about the history of BTC and its price hike through the years .That was the day i got interested in the crypto market.

Soon thereafter crypto academy started launching courses and I started attending the classes. I remember my very first class about candlesticks and how that knowledge of candlesticks boosted me. In a few weeks, I came to know about support and resistance and other topics of the academy about technical analysis. So those were the days I realised the bounty of the crypto market and I started investing in crypto assets. The ups and downs that i went through are discussed below.

What is your first investment in the crypto market and what drives you to invest in the crypto market?

My first investment in the crypto market was in BNB ( Binance Coin).

My motivation for investing in the crypto market is BTC hike in the price over last few years. When I gained knowledge about the market and the price history of BTC and ETH, I thought of investing than. I also witnessed the bull and bear phases of the market. I have a fair understanding of the volatility of the market and I realised that cryptos have huge potential over the long run to be gained. In short term, cryptos have huge potential to be materialised but after thorough understanding.

Have you ever encountered any loss as a result of the instabilities in the crypto market? Discuss

Loss and profit are part of investment and in trading no one can claim a 100% win rate. I have suffered a huge loss in the crypto market twice. Towards the end of the year 2021, news came out that speculated the ban of cryptocurrencies in India. Actual a bill was listed on the roster of bills to be brought in the Indian parliament towards the end of 2021 that speculated the Ban of private cryptocurrencies. Within an hour of the circulation of the news, Wazirx was so badly hit that a huge arbitrage opportunity was created for the traders throughout the globe because there was a disproportionate discount in the rates of cryptocurrencies on the Wazirx exchange at that time.

As an Indian user whose prime exchange was WazirX at that time, I was already invested in cryptocurrencies. I had an investment of about 600K Indian rupees in the crypto market and I exited the market in FUD and booked a loss of about 200K INR. The unfortunate thing about that loss was market recovered within a day.

The second loss is due to the current bear cycle of the market that's underway. I exited the market about three months ago and kept some minimal investment. I reserved the rest of the funds to purchase a dip. As no one can predict the bottom of the market, so I have a little bit of cash left to purchase the bottom. However, I am trading with some amount of funds

What crypto assets are you currently holding? Why did you invest in them? Please take a screenshot of your portfolio.

Currently, am holding DOT Polkadot), LINK and ZRX. Among these three DOT and LINk are my real investments but ZRX is there due to its volatility it is liable to give profits over the short term.

Polkadot (DOT) has a bright future as for my experience in the crypto market is concerned. Polkadot blockchain has the biggest advantage of being interoperable I hope you all know that problem with the majority of blockchains is that they are not able to interact with each other and they function as isolated systems. Such as an isolated operation or compartmentalization of blockchains is a great limitation. So Polkadot has tackled this issue by being interoperable and worth mentioning is that interoperability is seen among both private and public blockchains. The working of Polkadot is through multiple Parachains linked to a Relay chain that enhances scalability. Moreover, the blockchain is secure as well. So this blockchain is a hub for smart contract development. For this question, this much discussion is enough. Although DOT is much more.

LINK is the native token of the Chainlink blockchain. Chainlink is an open source decentralised network that operates on Ethereum Blockchain and follows a period of work algorithm. The future of Chainlink lies in its uniqueness to connect on-chain code with off-chain through hybrid smart contracts. This capability of linking on-chain and off-chain data imparts uniqueness to this network. The network is also secure and interoperable.

ZRX is there to make short-term gains. Honestly, I have kept it in my portfolio after monitoring its low price and volatility. As of now, I have reserved some cash because the crash of the crypto market is yet to stablise. So I am waiting for the perfect dip to materialise by investing in tokens like ETH, BNB, MATIC, MANA etc.

As an experienced cryptocurrency investor, Do you believe in Holding or Trading cryptocurrencies?

Holding is better than trading because holding is always profitable in the long run. Holding can always be profitabe if one can hold long. Trading Cryptocurrencies is easy in the Spot market because you can hold too long there in the spot market. The leveraged trading is always risky .

Trading is good only for experienced traders with very solid knowledge of technical analysis. So one must resort to trading after gaining experience in the market. Moreover, trading needs mature psychology to have proper risk management strategies.

What's your advice to a newbie investing in the cryptocurrency market?

Having gained an experience of about two years in the crypto market, I have witnessed the bull cycle of the market and the bear phase as well. Through trading in crypto, I have also learned some lessons from the market.My advice to newbies would be:

• Never invest without doing prior research on the crypto market project. We have recently seen the crash of a project LUNA despite having solid fundamentals. So prior reach into the project is mandatory.

• Invest only that much of the amount that you are willing to lose. Never invest the funds that are required for day-to-day use or use of essential purposes like food health etc.

• Don't dream to be millionaires overnight. Investments can make you rich but it takes time.

• With your spare funds make long-term investments because investment can yield good profits over the long term.