My Journey In Cryptocurrencies After 1 Month
It's been now 1 month since I've entered the world of cryptocurrencies ... and I don't regret it ! Obviously this is a passionating area where the risk is very high ... but if the risk is high, the reward will be as well !
Here is an overview of main points in my journey since the beginning !
[2011 - 2017] - I have always heard about bitcoin since maybe 2011 but really never been interested digging in cryptocurrencies ... No need to say that I have deep regrets but it's never too late, even now !
[Day 1] - One of my colleague told me that he bought bitcoin. I thought it was time for me to dig in. With his help, I opened a Coinbase account. It's a really good platform for beginners, you just have to fulfill some infos, then sending money from your bank account to the coinbase account.
[Day 3] - Oh actually it was not that simple to fulfill some infos on coinbase, I failed registering my ID and after 3 try you need to wait 24 hours ! So finally after 2 days I succeed to register my ID on Coinbase. Tip : the Coinbase mobile app has definitely a better user experience than the desktop app at first use (even for the ID registration where you use your phone's camera).
[Day 4] - I started on taking each of the cryptocurrencies available on coinbase. So I took the same amount of Bitcoin, Ethereum and Litecoin.
[Day 6] - I subscribed to youtube channels about bitcoins, evolution of cryptocurrencies and strategy in general. I subscribed to @dollarvigilante, Ameer Rosic, and CrushTheStreet.
[Day 8] - I have used now a lot of bitcoins website like coincap, coinmarketcap, and tokenmarket. The two first are very interesting to get infos about the existing coins. The last one is very useful for ICO (Initial Coin Offering) for new coming coins.
[Day 10] - I registered on Poloniex for buying other altcoins. I took exactly the same amount of Siacoin, Golem, Waves, Basic Attention Token, Aragon and iExec RLC.
[Day 13] - I ordered a physical wallet to keep my wallet infos (the private key). Exchange platforms are great but I will never let my coins there.
[Day 18] - Mmmm it seems that Poloniex and Kraken are not very safe at the moment ... I moved every coins from poloniex to Bittrex !
[Day 25] - Finally I received my ledger Nano S. I moved a lot of my coins on this hardware wallet.
[Day 30] - Bitcoins and altcoins are on a rollercoaster ! (-25 %). I don't care, I keep in mind this is the game and I keep all my positions for long term !
[2017 - to the moon] - I will continue with my journey in cryptocurrencies with 3 ideas in mind : never sell, put everything on a physical wallet, keep everything for the long term !
Don't hesitate to give me your feedbacks in comment ! Have you done something different in your journey ?
Thanks for the info on the physical wallets. I'm just beginning my crypto journey and am still not really clear on how those work. This post cleared it up a little bit for me. Thus far, I've just been keeping what little coins I have on Bittrex. Now, I know another way to go to keep them safer.
Hey @stephmckenzie thanks for your feedback ! Yes keep it on physical wallets this is the best way to be safe ! For the big cryptocurrencies it's fine. For other altcoins maybe you need to use some tricks or print paper wallet 😉
Thanks for the tip, @balibou. :)
Always a pleasure to be useful 🙂 @stephmckenzie
Joss information <3
Thanks @nazmul !
Some good info for us newbies - thanks
Thanks @worldwar2hero 🙂 I hope it will be useful !
Interesting
Thx @xikandarxaheer !
I appreciate the info on tokenmarket. How did you know which ones had potential before the ICO though?
Just have a look in Hot Now and see the number of follower for each ;)
Have you come across onegram? And in your opinion is it a good investment?
Hey @shyne07 ! This looks like a good investment for people related to islamic finance.
Actually they can't speculate on the future value of gold but just in term of weight.
This coin takes gold as underlying, so maybe it will have a lot of demand in the future coming from Arab countries 🙂
Nice post bro. Really liked it. Resteemed and followed.
Thanks a lot @mrjohnson ! I'll try to post more about my journey ! 🙂
Nice timeline. I plan on posting something similar on my one month!
Cool @brianjuice ! I can't wait to see that and learn a lot from your journey ! 😉
Thanks for sharing! I am a few weeks deep, but dove right in too! I've found Coinbase is easiest platform to exchange your fiat, then progressed to a few of the exchanges. I ordered my Trezor wallet off Amazon before the price jumped, and started cramming my bits in there...
I also learned IF you are gonna use the Coinbase platform for a fiat exchange , I recommend you buy Litecoin to transfer them to an exchange; the transaction fee is cheaper than BTC. I don't know if SegWit next week will resolve the fee issues soon, but that's a method I've been employing...
Hey thanks @vaporhaze ! I plan to buy a Trezor wallet as well . I don't want to have all my coins on one hardware wallet 🙂.
Yeah this is a clever move for litecoin, because bitcoin fees are just totally crazy right now. I think SegWit will be good answer but it's just wait and see ! 😳
Interesting post. Good to see I'm not the only one that is thinking about this. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. This means markets will be as irrational as this big group of uneducated investors. I found this amazing platform: https://www.coincheckup.com I really missed a platform that analyses every single coin in depth but this site gave me all the answers.