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RE: Meme challenge #29 - Entry #3: The Fiat Trap

in #memechallenge • 7 years ago

I've only been investing in crypto seriously for a few months. When the price dropped big time and we had that Bear Market for a bit, I sold probably 80% of my coins (into USD), feeling it was safer... of course, I missed out on a lot of the rise back up. Since then, I learned my lesson: I'm not selling any crypto for fiat. If I sell an altcoin, it's just for Bitcoin.

This would be related to the principle "never lose money on a trade, ever". I just wrote a post on some investment strategies if you're curious: https://steemit.com/cryptocurrency/@jobsande/why-i-m-changing-my-cryptocurrency-investment-strategy-you-should-too

:)

7 years ago in #memechallenge by
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     7 years ago 

    Thanks for the comment. I'll take a look at your article. I haven't been in crypto too long myself but it's usually better to pick up some coins on down days during the market.

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