Help me please from making another crypto noob mistake
I could use a little help. Most of the trading decisions I make when buying and selling crypto-currencies are bad ones. Sometimes I think I'm doing great, I started out with a couple of hundred bucks, which is now worth a few thousand. However, that's only when counting in fiat. When counting in BTC, I now have less capital than I started out with...
So, I'm wondering.. In USD my portfolio is much higher than when I started, but it's less in BTC. Am I now richer or poorer than when I begun?
I am that guy that buys a coin at the top, and sells at the bottom. I am that guy that notices when SBD went up to 2 USD and then sold it all directly, only to see it rise further to over 10 USD on Bittrex after that. I am that guy without any Bitcoin, because I think underlying technologies of other currencies are simply better and more promising. I am that guy who is wrong. All the time. Not because I intent to, but simply because my perspective on things is usually not the popular view.
I have been trading on Bittrex a little bit, but would like to invest a little bit more, with the bonus paycheck of December coming in. I'm hoping to get a position in EOS and IOTA (again, promising technologies, I could be wrong, but hey, I'm used to that by now). I do not like Poloniex, never traded there, probably never will. I like the Bitshares DEX, but no IOTA there. So I'm looking at Binance now.. Can I trust them? And, if so, how to get funds there easily? Do you guys have any experiences or recommendations to share?
Please?
Here's my answer in pictoral form:
Thank you for that Alan! I'm printing it out and putting it on my wall. This is THE best advice. Much appreciated!
Interesting.. We need to have a serious talk dear husband
don't worry, I'll buy you shiny things
Jeej!
I cannot really give a good answer on if not increasing your BTC is the same as not succeeding. I will say that buy low sell high is the best, most accurate cliche. There are always going to be more opportunities; for instance just recently, buying EOS under $1 when it was getting nonstop wrecked on the charts was a buy low opportunity (not that I took it in particular ;_;). Whether now is buying high (nobody knows where the coin price will be in 6 months) or simply buying "higher", it is already 400%-800% gains separated from that $0.50-$1 range previously depending where you would have realistically been able to enter. So gotta be forward thinkin IMO
Binance still has 2 BTC daily withdrawl without being verified. Beats Polo & Bittrex, yea? None of us know if any of these are ever gonna gox us though :(
Honestly, it depends on your perspective. Are you a person that spends money with USD, or solely spends money with BTC? If you are a USD person, then you made profit, but if you are a BTC person, you didn't really lose anything in USD form, but you did lose the bitcoin that you COULD have had. So you are not necessarily losing USD, but you did lose some of the bitcoin you could have kept and would be worth more if you didn't sell it wherever it was.
Bottom line is, if you are a USD person, you are fine.
If you are a bitcoin person, i would become a USD person.
Great job on the post, keep up the good work!
I'm from europe, so I'm surrounded by EUR persons.. So maybe I'm not a USD or BTC person, but rather a STEEM person :)
I guess refer a EUR person to a USD person is the same thing lol. A STEEM person is great too, but STEEM cant really buy your groceries at Walmart. xD
I'm kind of in the same shoe, made more fiat but have less BTC. I wouldn't say we are poorer, however if we'd have kept all btc we had and would exchange it now to usd, we would probably have more fiat than what we have now. It is still not a loss because you have more fiat than what you started out with. I just got onto Binance, I'm pretty satisfied, they've got quite a lot of different coins so that's good. I transferred some btc from Polo and that's what I'm playing with now.
Wish you all the best!
I am planning to buy on EOS ( still waiting a better price to go in ) I hope. I was in IOTA when it was below $1, I bought my IOTA from bitfinex.. I heard it becomes slow due to a lot of people trying to buy !
Hey man! Nice to see you on my blog! Are you happy with Bitfinex?
I honestly have no idea.. it seems fine to me! ( oh I should mention I just recently into crypto , so you shouldn't be even listening to me.. hehe