Steemit Crypto Academy Contest / S3W2 – My Experience Investing in the Crypto Market by @kwekudarkwah

The Crypto Market is a Wild Ride - My Experience Investing in the Cryptocurrency Market

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My Experience Investing in the Crypto Market

The recent boom in the cryptocurrency market is well-known to us all. Even if you don't fully understand how it operates, you are probably aware that it involves digital currencies, with new ones appearing almost daily. These include Ripple, Ethereum, and Bitcoin. You can read about my personal experience investing in the cryptocurrency market in this blog post, as well as my reasoning for choosing this particular moment to start. The majority of people are unaware of the numerous risks and rewards of investing in the cryptocurrency market, so now is a great time to do so...

Discuss your first experience investing in the crypto market.

I've had a long history of involvement in various online businesses as an online entrepreneur. I have experience in everything from lead generation to eCommerce. Nevertheless, I had never before thought about buying or selling cryptocurrencies. In fact, it was only a little over a year ago that I made my first cryptocurrency investment. Ripple was my first purchase. It looked like a real opportunity after reading the specifics about it on a website. As an online business owner, I've discovered that you shouldn't just concentrate on what you do best; you should also be aware of other business opportunities.

What is your first investment in the crypto market and what drives you to invest in the crypto market.

Ripple was my first investment. Its focus on business clients and centralized system are features I appreciate. That, in my opinion, will help it expand quickly and provide customers with high-quality service. I invested in Ripple because, as an online business owner, I'm all for anything that aids in business growth. I have, however, made investments in various cryptocurrencies aside from Ripple. I also bought some Ethereum and Bitcoin.

Have you ever encountered any loss as a result of the instabilities in the crypto market? Discuss

There is always a chance that an investment could fail, as with any other. Although it is great for making money quickly, the cryptocurrency market is very volatile, and you could lose money just as quickly. Having said that, I have never suffered sizable losses from cryptocurrency investing. Before making an investment, I've always made sure to conduct extensive research. I have also ensured that my portfolio is well-diversified. As a result, my risk is lower because I'm not putting all of my eggs in one basket.

What crypto assets are you currently holding? Why did you invest in them? Please take a screenshot of your portfolio.

I currently have none in my wallet.

As an experienced cryptocurrency investor, Do you believe in Holding or Trading cryptocurrencies?

I reject the idea of holding. I support trading. Holding lets you wait for a rise in price. You might have a long wait if the market is declining. Holding is beneficial for short-term investments, but it can also be risky because your stop-loss needs to be used carefully. Having said that, I think in trading. My main source of income comes from trading. I search for coins with strong potential before engaging in back-and-forth trading.

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What's your advice to a newbie investing in the cryptocurrency market.

You should be aware of the risks involved with making an investment in cryptocurrencies if you are new to the market. The dangers of losing your money as a result of fraud should also be known to you. You can reduce your risk and gain from the advantages of investing in the cryptocurrency market if you do your research and choose your investments carefully.

Conclusion
Any market investment carries some risk. Keeping up with the most recent information and impending trends that may have an impact on your investments can be challenging. However, you can reduce your risk and increase your reward if you are aware of what you are getting into and do your research. The cryptocurrency market is volatile, which makes it exciting to be a part of but necessitates extra caution when investing. Following these suggestions will help you avoid falling victim to the hype and making a snap decision that could end up costing you a lot of money.