How I failed in Crypto.

in #failed • 7 years ago

In the interest of not wasting anyones time with a long sob story I will just put this in point form.

  • Didn't trust my own gut feelings
  • Used some of my first bitcoin to buy bitconnect loans and cloud mining
  • Upgraded on cloud mining too much too often ( spent my litecoin, dash and bitcoin )
  • Bought into ICO's
  • Listened to advice from others
  • Bought into dumps
  • FOMO'd
  • Too many market buys
  • Too much short term trading and moving funds around
  • Trusted a "trading" group
  • Didn't take profit's often enough
  • Didn't set stop loss
  • Was too optimistic
  • At times was over suspicious/ paranoid

Goodluck to anyone new in the crypto world hopefully you can learn from my mistakes!

7 years ago in #failed by
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    • [-]
     7 years ago (edited)

    Hey @cryptopar - sounds like you learned a lot along the way! And I agree with each of your points here. Especially moving funds around too often.

    But you mentioned BitConnect, did you have a bad experience?

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     7 years ago 

    When it comes to Bitconnect I wish I bought the BCC tokens and held them. At one time I held 24 BCC but loaned it out at about 5$ each. If I had simply kept the tokens I would have made a lot more profit.

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       7 years ago 

      ah, yes that's true. are you still using BitConnect? I just cashed in some of my BTC gains for another loan. I think staking is around .5% a day.

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       7 years ago 

      Two years ago I bought bitcoins. Just left them there. They are still in my wallet. ;-)

      [-]
       7 years ago 

      I envy you sir! You will make a great investor!

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         7 years ago 

        that is awesome. I love hearing stories like this. very happy for you @cryptonconfused

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        • - Author $0.28, 0.00 TRX
        • - Curators $0.09, 0.00 TRX
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        [-]
         7 years ago 

        Thanks, when investing in cryptos, longterm hold is the key. Especially for cryptos like Dash and Btc.

        I missed the chance to buy Antshares though; now rebranded as NEO. Was at $4 when I wanted to buy. Now its about $50. :-( . Will be keeping a close look at it to buy on the dip. Hope it corrects a bit.

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           7 years ago 

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