My First Crypto Buy...Tell Me About Yours!
Discussion time... I want to know what your first alt coin buy was...and why?! To me crypto seems too complex for the average person to just fall into, so what made you jump in initially?
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When I Bought My First Token I Had No Idea What it Was....
Lets say that you really love the show Game of Thrones (seriously, who doesn't love GOT, lol.) You LOVE it, you watch it, you study all the intricacies of the Seven Kingdoms and you know each character's background since before the show started. Then you find out that your friend has never seen Game of Thrones. What do you do?
You tell your friend to watch Game of Thrones! That they'll love it, that they'll never watch a better show. They are reluctant so you keep bothering them about it. You beg. You invite them over and casually put the first episode on and force them to watch it... (yea, I've done that before.)
That is how I learned about crypto. My friend Alex, who happens to be my Sister's Fiance, casually mentioned crypto one day and explained that he was going to buy a token and that I should too. I barely listened to him the first couple times, I wasn't even interested in crypto and I thought it was a scam. But Alex didn't let up, he kept sending me videos about this token, mentioning that who knows how much money could be made if they were successful. That is the thing that caught my attention finally. Money. Greed. Moon. Lambo.
The token he was talking about was Pillar (Plr) and it was brand new, barely out of its ICO. I had no idea what this token was. In fact, I had no idea that there was a difference between crypto currencies. I didn't know that they all held a different purpose. I thought they were all like Bitcoin.
I looked at the Pillar website and I didn't understand what I was reading. Atomic Ownership? Crypto wallet? ERC-20 Tokens? What the hell is that?! What made me put up the money buying this unknown asset was the enthusiasm from my friend, and I trusted his judgement. It was also FOMO. I thought "How would I feel if I don't end up buying this, and then they end up making a ton of money from it? I'll feel like an idiot and regret it forever!" I decided that I was going to buy some just for the heck of it, so I went over to my sister's house and Alex helped me buy Ethereum first, and send it over to Ether Delta to buy Plr with it. It all seemed too difficult for me to handle on my own. The process seemed so complex to me, he might as well have been sending rockets into space at NASA.
One and Done..or So I Thought!
After the Plr Tokens were safely stored in a paper wallet I forgot about Crypto until September. I then decided to really dive into understanding different cryptocurrencies and the visions they all had for our future. It's been several months now, and I still feel like there is so much more to learn, but I find the whole crypto-sphere so exciting. It's like I'm getting a glimpse into the future when I participate in it.What is Pillar?
Pillar aims to solve one of the biggest problems facing us right now, the protection of our privacy.
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We are so used to giving out our personal information and having it sold and stolen that we have become complacent. Pillar is trying to revolutionize protecting our information with the Pillar wallet. We can use the Pillar wallet to not only store our crypto-currency, but to store our private data. We can choose who we want to share that data with, and take it back when we want.
Imagine buying items online and sharing your information with the website and then revoking access to your information when the purchase is complete. Pretty revolutionary right? I think so.
They are also making something called "the Grandma wallet" which will be the wallet bringing cryptocurrencies to the masses. Simple and easy to use.
I have been holding Pillar since I bought it, and I will continue to hold until it moons!
Been into crypto for awhile! I definitely bought some Litecoin early onand would most likely be my first altcoin buy! Then came the shit coins, which would include some shit coins such as maxcoin, Auroracoin, iamSatoshcoin, blackcoin, etc.........etc.
Oh I have definitely bought some shit coins too. I bought Verge in September when it was at half a cent a piece because I said, what the hell, why not! lol. I also bought tron when it was around 2 cents (I am really regretting that one right now, but once I buy I will continue to hold until the end lol) Sometimes when I want to feel really bad about buying those I scroll through the crypto graveyard to see all the failed coins... from now on I will only be buying things i truly believe in.
I would think you would be happy with Tron right now. You have doubled your investment and they just signed that gaming contract last week. If they pull off what they are implying they will very soon it will shoot to the sky.
Honestly, with tron (and verge) I dont necessarily regret buying them but I bought them for the wrong reasons, and now of course with Steem and me believing in it so much, I would have rather allocated that money to a project I believe in. Justin Sun (of Tron) showed his lack of maturity as it sky rocketed in late December. Hes was the guy that was trying to hype up Tron by "announcing announcements". and it made me lose interest in the project. I am holding regardless though lol.
You made me laugh on that. I was looking up news this morning and he was made fun of for announcing an announcement he will be making later this week. I am going to give him the benefit of the doubt (easy to do since I wasn't affected by his earlier announcement of announcements). I don't believe he would have landed that gaming contract if he wasn't on the verge of pulling this off. That move alone solidified TRX as having a practical application outside of speculation as it now will have a real life use (imo why most coins are nothing but hype and why Steemit convinced me to jump in).
If he pulls off the speed/cost of transaction which he is expected to announce breakthrough on very soon, it will revolutionize so much. I don't believe he would have got the gaming contract if he already didn't have some sort of proof they are close. Nor do I think he would have expanded his team as he recently did.
And now you have gotten me to shill my first coin, hahahaha.
I have been watching how the traders manipulate perception, and would not be surprised if some of the detractors that popped up over the weekend with their blogs and articles are secretly buying at low prices from the doubts they plant right now so they will make a killing in a week or two.
LOL, so it looks like he is still doing that?! I haven't been paying attention. The lesson that Tron taught me is that news rarely moves the market, unfortunately. In my short time in crypto I have never seen an actual announcement make the price of a coin skyrocket! I believe that the whole market moves on the sentiment about crypto as a whole at the time. If peoples feelings about crypto are good, the whole market moves up, once the price gets so high people start to doubt a further climb, (once the doubt sets in) people sell and the market crashes. The only way I think I can stay sane (if I am sane) with crypto is to buy and hold, and not try to time the market. Honestly I am allocating a small amount to crypto every week. I really have to stop myself from over investing, so I under invest. I want to be able to sleep at night, lol.
like your all post... so i hope you support me
my dear friend @emmyem84, thank you for sharing with us
Good post, it's kinda funny oftentimes we remember our first time doing something. I honestly don't remember my first time making a buy, though I do have memories of very early on getting into crypto. I remember it was around Thanksgiving or Christmas of 2012, I remember sitting at my moms house on the couch with my laptop looking at my Bitcoin portfolio but don't actually remember the moment I pulled the trigger.
I remember my first altcoins I bought on Cryptorush.In which actually did an exit scam. I think my first coin was lightening coin or something like that. This is way back when it was pretty difficult to buy Bitcoin let along altcoins.
That kind of scared me away from altcoins for several years, I think I didn't buy another altcoin until Coinbase listed Ethereum
I cant believe that you were buying bitcoin in 2012, that feels like a million years in crypto-world. I imagine those exchanges being super shady. I always say "oh I wish I would have started buying crypto 5 years ago" but in reality I know that I probably wouldnt have done it, and if i did there is no way I would have held. Have fun in Mexico! Post from Surfin Burrito when youre there :)
While it's awesome to have gotten in that early, sometimes I think my timing of when I got in was really bad in the sense that it kinda scared me away. Back then Bitcoin and crypto wasn't taken nearly as serious as it as today, think few people ever thought it would see the adoption and growth we've seen to date.
I got in before the big rise to $1200 and the crash back down. It was also before there were really legit exchanges so I got burned by cryptorush.in and that experience kind of scared me away from exchanges and altcoins for a period of several years until Coinbase started rolling out Ethereum and Litecoin.
While I got in early I think after seeing the big crash and being taken by an exit scam if I remember correctly I wound up pulling out most of my money thinking this could all go to nothing.
Even today looking back it makes me sick seeing my old Coinbase transaction logs and seeing how cheap I was selling BTC, ETH, and LTC for, if I had even a tenth of those coins today it would be huge money.
Not really anything to lose sleep over as it was a different time but just kind of interesting. I remember back then I was running the full blockchain wallet on a netbook lol so goes to show how much thigns have grown since then.
I got into crypto late 2013, early 14. Back then, I believe it was Litecoin and then probably Doge. I didn't shill anything really ever -- including Bitcoin. Now big fan of DigiByte, LiteDoge, EOS, and of course STEEM!
Wow @writewords you have been in it for such a long time compared to me! I also hold Steem (still trying to build some SP)... and EOS! and Bitshares too. How do you feel about the current state of the market? any comforting words? lol
These cycles are normal. I was talking friends into it when prices were "rocketing" from 200 up to 1100 back in 2014 and the few who came in didn't HODL. I missed my first thought of buying when BTC was at $18 a piece. Still nowhere near rich, but I'm not really intending to be. I do think prudence is wise. If crypto appreciates long-term and fiat depreciates... why use fiat? Then again, with ICOs as rampant as they are, as well as forks... pretty much it all is fiat to a degree. We have to look at the fundamentals of a coin project like we do a company. Consider the tangible value and liklihood that the network stays around and has some indespensible use case. That's why we're all here. We're on this network because we see a tangible result from the product. It's like a Facebook but fully-decetralized (pretty much). Steem should start a bid network for promoting posts that itself is fully automated and allow users to turn off ads in settings. Users would get paid a portion of the ad revenue for seeing it and the network would gain liquidity. It would also cut down on vote buying bots. Crypto is still new. You're still an early adopter. Trust your instinct. My biggest mistakes involved not HODLing and selling off profits because I tend to regard free time, freedom and experiences over structure and wealth-building.
Thanks for the great response, I love hearing insight from people who have been in the crypto game longer than me! I do always try to look at the fundamentals of every coin I buy. I agree that Steemit needs to do something about promoting posts, its very hard to get seen here in the beginning which can cause people to quit. I mainly spend my time commenting and trying to meet new people. Thanks for your insight! :)
I started out with BTC in 2016 but I lost almost everything to scam investment. It really took me out of crypto world for some time, I'm just picking up myself. I recently joined Steemit and speculatiolng on what the future holds for me
So sorry to hear that you were scammed @loxside, I have had friends lose lots of money too. Hopefully in the future we will be able to see these kinds of scams coming . I am glad you are re entering the crypto world by joining Steemit :)
Great story! Mine is kind of boring but promising... After getting into Bitcoin in 2016, I rode the price up to almost $17k before taking profits. Since I believe in the technology and market, I diversified most of my gains into other big assets like ETH, Dash, and LTC. This year I have also took positions in EOS, ZRX and of course Steem. I think Steem is the most exciting given the platform and how we can share as a community.
Thats awesome that you were able to take profits to reinvest, I have not sold a single thing since I started buying! I keep on thinking I should, but then I worry its going to moon right when I do with my luck! I have been buying Steem and will be buying it exclusively for some time. I am very optimistic about the future of Steem and im glad you are too!
Thanks for this as a newbie to steemit im still trying to get my head round it all. I will check out pillar. Iv only just found out there were different coins lol. Never thought i would have got into crypto but its really interesting. x
Hey @taznbash, welcome to Steemit! I am new here too (I joined 1 month ago) There are a lot of things to learn about cryptocurrencies! There are over 1300 cryptos now and there will be many more. Some of them are currencies, like bitcoin...others are tokens that will fulfill a purpose.. (like Basic Attention Token . Basic Attention Token is hoping to revolutionize advertisements by paying the consumer to look at ads) Hope you enjoy Steemit!
Wow thats a lot, i though there were around 5 lol. Didnt even know about the token side of it. Pillar seems really interesting. The whole crypto thing is fascinating iv lots to learn. Thanks for the info x
I am on Steemit because of my husband, who discovered it but isn't on it himself - he got interested in crypto back in November and watched a bunch of online courses. He bought a tiny sliver of Bitcoin first, then bought Ethereum to trade for Ethos and Cardano. Then he started hassling me to join Steemit and I said, whatever...but then I started watching the videos with him and following the portfolio and all that. I still understand very little, but it is definitely interesting and there is definitely a whole world out there! I have high hopes for the long term!
LOL I think its funny that your husband bothered you to join Steemit but hasnt joined himself! I bothered my husband to join with me and he did, he mainly writes about beer. lol. I think that if you keep on reading about blockchain tech there will be a moment where it 'clicks" for you like it did for me. I went from being highly skeptical, to believing that this will change the world as we know it,. I also have high hopes!
He doesn't even really use Facebook. He's into the currency, not the social networking. He knew I like to write and want to do more and be motivated - so he was right, but yeah, I wouldn't mind having him on here to vote for me! ;-)
I love how you always ask for engagement. For someone who says they are an introvert you make this look easy.
I finally jumped into coins because of Steemit. I finally saw a use for it (I still have no passion for Bitcoin and think at some point it will be supplanted as the go to coin/chain. So I decided as Steem opened my mind up to crypto to begin trading. I studied this intensely for a couple of months, spending hours daily before jumping into first Steemit, then coins a couple weeks ago.
My first coin was Litecoin, only because I didn't want to incur the large transfer fees associated with Bitcoin. I played with it briefly, determined the whales play with walls (I lost on my first few trades from their head games) and now I am doing well. In my first real week after learning the slow head intimidation games they play, I made a 23% return. This really excites me as I am still green at this. I learn more everyday and am finding coins that get my blood hot.
@practicalthought, lol, thank you for the compliment. Its possible that I have two personas, one in person..and one online! I am definitely introverted in person (sober anyway lol) I commend you for trying to trade, I know that if I try ill probably lose everything so I am just going to hold forever, lol! I havent sold anything since July. I have over 20 alt coins right now. I even put them in cold storage so even if I wanted to panic sell I couldn't! I promised myself I would only buy Steem for the foreseeable future but Im already considering buying one, called Appics which will be like a Steemit version of Instagram. (Its built on Steem so, I figure its not totally cheating) lol!
I haven't tried investing yet. I can't bring myself to doing it. So what does Pillar do with our private data? They store it and how can we be sure they don't sell our information?
Well, you would install the Pillar Wallet on your phone and input your private data. You own your info, and not Pillar so they never see it. You have to grant permission for a company or anyone to see it, and you can take it back at anytime. I know that investing in crypto can be confusing, but it really is exciting too. If you are interested try a small amount, any amount really, and look for projects that you see being implemented or you would use yourself. Like Basic Attention Token, they want to pay people to watch ads directly, instead of companies paying google to show you ads. Or, Decentraland, which is a world that will be completely in virtual reality, you can go to concerts, shopping, even see therapists all in this virtual world. Pretty cool stuff!
Oh, I see. That makes sense. It is indeed sounds fun. Be checking it. )