INTRODUCTION

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Hello everyone.

Is another brand new day and him to also take part in the steem crypto academy homework task. Which is “My Experience Investing in the Crypto Market” I will like to say a big thanks to all the professor’s and everyone on this platform.

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Discuss your first experience investing in the crypto market

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My first time I hear crypto market, I was kind of what’s that. I ask myself what’s that. It was my friend who introduced to it. I ask him so many questions.
And I really thank him because, he managed to convince me and also to explain to me how beneficial it is to everyone who happens to part of the crypto market. So he introduced me to steemit platform and that was my first time.

So I asked him what I’m I going to be doing and he said should try as much as possible to always write a good post. And when I write a good post, they will vote me and I will get money out of it.
So he was the one who created my steemit accounts for me.

So I did my first post and I was lucky they vote me and after seven days, I cash it out to my binance account and I sold it and I get the money. I didn’t even know how to convert SBD into steem and also, is didn’t also know how to push it to my binance accounts. But it was that my friend who introduced me to the steemit platform help me to do all that. Initially I didn’t believe it but immediately I was able to cash out the money and it was converted to real cash, I then believe it and I started to write more post on steemit .

So i didn’t even know there are oder crypto currency’s that one can invest in but when I started serious posting on steemit, I got to know that there are other crypto coins I can invest my money on to. Moreover, as a new bee, I didn’t know the risk involved until when I mistakenly push my steem to a different binance address. I didn’t know how to do it but that my friend who introduced me to the crypto market was to around so I tried doing it myself but I ended up losing my money.

And I was believing that, my money can be re found until when my friend came and I explain to him what I did and he said that amount of money I have lost can never be re found and that’s was my first experience on in the crypto market.

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

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My first investment I did in the crypto market was that, I used my school fees to buy a crypto coin and the name of the crypto coin was BITCOIN. Like I said earlier it was that Friend who said I should buy that coin because as at that time, BTC was rising. So I used my school fees to buy it.

And what drives me to invest in it was that, that’s my friend was able to make a lot of money out of investing on BTC. So due to that, it encourage me to also invest on BTC. And I was able to make profit out of it because I was able to pay my fees and I was still holding a lot of money.

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

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I have really encountered a lot of losses in the crypto market. Just recently not long ago, I invited in this particular coin called LUNA.
Hmm I invited a lot of money into this coin and I ended up liquidation. I was so sad to the extent that, i was not able to eat due to the amount of money I have lost due to the investment I did on LUNA. But didn’t give up because is all part of the game because as an investor, you can’t be making profit always sometimes, you will be getting losses as well.

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

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Currently, the crypto assets I’m holding is STEEM and XEC in my binance account.

Invested in them because, Per by my research, I see that, steem and XEC has future and I also believe that, for holding it, I will make a lot of money out of them they rises up. Looking Steem right now, currently, steem is 0.2480 and when you check the history of Steem, it has ever rise up to 8 dollars. So looking at its history, it really has a future that’s why I’m holding. And on the other hand, XEC is also another coin that I’m holding because it also has a great future.

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

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Looking at holding and trading, they are playing an role when it comes to cryptocurrencies. But for me being an experienced cryptocurrency investor, I believe in both of the holding and Trading.

I believe in both because, they all play a very important role in the crypto world.

Because holding a particular coin for some time, you can make a lot of profit out of it and on the other hand, trading a coin as well can also help you to make a profit out it because as at the time you were trading it, it can be high and u sell and make profit but u can also hold it and later sell it and make loss. But being an experienced cryptocurrency investor, I believe in holding.

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

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My advice to every newbie who is joining or to invest in the cryptocurrency market is that, the crypto market is very fluctuate and volatile. Another important thing a newbie should do before investing on a particular crypto coin is that, one should know the coin and also make some research on that particular crypto coin before he or she can invest in it.

Moreover, as a newbie, you should be mindful of the kind of money you invest in a crypto asset. Newbie should not invest the amount of money you can afford to lose. Again, as a newbie, you should also learn to hold crypto assets for some time in order for you to sell them later and make profit of them.

Last but not least, newbie should also be aware of the risk involved in investing in the crypto world.

Conclusion

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Cryptocurrencies are really good and nice and I will say we should always invest in them, but we should be mindful of the risk involved in the crypto world. I will like to thank everyone and will like to use this opportunity to thank all the professors on the steemit platform and everyone who happens to be on the steemit platform.

I will like to invite @hajiataiba and @farhmade to partake in this contest.
Thank you!!!