Club75 || Steemit Crypto Academy Contest Season 3 Week 2 - My Experience Investing in the Crypto Market || Regards @ali807 ||
You can buy, sell, and trade these coins on various exchanges, including Coinbase, Binance, and others. There are millions of people doing trading on different platform and make million of dollars.
The big businesses man of the world also invests their money in cryptocurrency. Alon Musk who is the biggest businessman in the world also invest his money in crypto.
When I heard all this about crypto then I decide to invest in it. Before investing, I researched everything about it. Then, I choose coinbase platform to do the trading in the crypto. There are also other big platforms where you can aslo do trading. The big one of these is Binance.
After making an account in the coinbase, I want to try it and I invested 500$ in the coinbase account. Before investing, I advise all of you that first you have to learn all the trading terminologies.
I advised you about trading because I did this blender when I invested first in the coinbase.
Simple terms, you can kiss your savings goodbye if you don't gain some experience of trading.
Cryptocurrency is a become risky platform for any newbie. I just told that fact about those inexperienced people who trade in crypto without any guidance that as a result, they lost all their money.
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I am not against cryptocurrency but I shared my experience with you guys. So, you don’t make those mistakes that I did. I did not learn anything about crypto trading at the start but with time I learned much more about it. These are the main reasons that i write about the crypto to guide you guys. So please, when you start the crypto, avoid these mistakes otherwise you lost your money.
Now we'll talk about my crypto's startup approach.
Several marketplaces function as exchanges currently. I use and suggest Coinbase, but you're welcome to use any platform you find most convenient. Making an account on coinbase is very easy.
Go to the coinbase website and first signup on the website. After verifying yourself with the email. Ah, your account is ready. After that, attach your bank with your account.
I choose this exchange because there are tons of positive reviews about it. Take it also as advice, when you want to invest in some company or any other platform. You should read the reviews of the platform you plan to invest on before making any commitments.
First, I did some research that how to invest in coins. After doing a lot of research, and reading the views of some big Brookers, everyone said not to spend all of your money in one coin.
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Then, I spend my money on all three coins. But, bitcoin is the most papular coin so I invested 60% of my money in it. Then I searched on google about these coins. I saw and analyzed the graph and volume of these coins.
Truly, I was nothing experience in trading. I did not know how to trade these coins when I invested in them. I just know that when the coin price goes up, more money will come. If the coins price go down, the invested money will also go down.
Crypto trading is not easy work. It is a lot of factors game. If you want to gain success in it so become a master in trading. You will be a millionaire.
After investing in these three coins, I am very happy because, with some luck, my 500$ became 540$. Then i check the prices of the coins, the prices goes up. I am very happy that moment.
I did not know how the coins go up but I was happy because within some hours I earned 40 dollars. But remember the fact, I was lucky that is why I earned but it will be not the same in every case.
After making 40 dollars I considered myself a crypto master. I did not stop trading but I also invested extra 40 dollars.
The world seemed to be in a dark state when I woke up. I lost 150 dollars. I was in a deep shock that what happened. I was not aware that the crypto system operates 27/4. Then, I saw on my account that two coins were going down at 3 am of the night.
This disappointed me a lot, then after two days, I lost more of my money. Thus, you are not restricted to specific times of day or night when using crypto. So, when you want to start it, remeber this cruical fact.
Basically, digital currency is simple to convert. There are different methods to convert digital currency. Where bitcoin is not banned, people can convert money through the bank. Just withdraw money through the bank which is attached by a crypto exchange platform.
In these countries where bitcoin is banned but trading is available. They can sell their coin to another person or a Brooker. Brooker will convert their money into their country's currencies.
Another fact is that the crypto dollar price is always a lit bit high than the original USD dollars.
After the month, 80% of money was lost. I did not know how it happened. I think, i have do a big mistake in this work. Majority of people said that trading is the main factor in crypto success. But, at the end i withdraw my remaining money.
I have a loss of 400 dollars in crypto. That was the final result. I was unaware of whether you trade it or not. But I just want to share my first experience in cryptocurrency.
What exactly is a crypto market?
The cryptocurrency market is based on different websites where people can buy, sell and trade different coins like Bitcoin, Ethereum, etc.
It may a good move to invest in cryptocurrencies. But it is a high-risk investment. If you want to succeed in crypto, you have to make an expert in trading.
Peoples invest in crypto because it is a reliable platform. Mostly, people invest in crypto because it is high-paying method.
You have been well linked with the operator of the farming accounts discovered a few weeks ago, more than 10 of your accounts have been discovered so far and more would still be uncovered. Out of the deepcrypto accounts you have utilized for money movement is one with the memo 107319633 which has been used to move about 4,080 STEEM from many of those accounts. Steemit should be kept clean as such you are muted here.
Remarks
Cc:-
@steemcurator01
Yes investing in crypto is a high risk investment but if done right the profit is worth it.
You are right just like in business profit and loss happens in crypto but where do you buy coins and where do you sell them.
You keep insisting you very lucky to earn the $40 reward. Can you lend me some of your luck?😂
Aw losing $150 is too much of a price to pay for not knowing so much about cryptocurrencies. But it has helped you realize the crypto market is a never ending one and we should always try as much as possible to have trading plans.
Thanks for sharing.