Earning money with cryptocurrency in 3 lessons!

I started with cryptocurrencies back in 2013 by mining Litecoin. I had two miners with each three GPU's running on full speed day and night. It made me quite some Litecoins but then the market crashed and mining wasn't profitable in my country anymore. Hence, I sold all my hardware and kept a small amount of LTC's in cold storage...

Because the price didn't move much for a long time I decided to trade the leftover LTC's to ETH. This was around May 2016...

What a great decision.

ETH rose and rose after that, and before I knew my small amount of LTC's was actually worth something! Now, I'm not rich by a mile, but it sure was my best investment EVER!

I have been investing in other crypto's since that time, and this made a great return on investment. Yes, this indeed is a market where it's not strange to get 100+% gains in just a matter of months!

But how do you do it?

1. DYOR
Or in other words: Do your own research! I know, this has been said over and over but it's the only thing that works. DO NOT just read some forums and go with the flow. Research which projects actually make sense and which projects have good teams. Sure, a bit of hype can be a good thing, but watch out for pump and dump coins, and people influencing the market!

2. HODL
Whatever you do, DO NOT SELL DURING A DIP! This market is extremely volatile, and rest assured, your coins will drop someday. I have seen my complete portfolio go down 40% in just a day. This happens but for me this is NEVER a reason to sell. I believe it will rise again, and if so I am happy that I didn't sell!

3. Diversify
Diversifying is great. Make sure you diversify your portfolio so that you won't lose everything if your coin goes down. I have around 15 different coins in my bag. I have put the most money in bigger coins (like ETH) and smaller amounts in smaller coins (like SUB or QSP). The big coin is more stable, while the other coins have a change of growing exponentially.

Disclaimer: This is not investment advice. Investing in crypto's is EXTREMELY risky. I am not responsible for your losses!