Diary of a crypto newbie - the first two weekends

First of all: I´m not a professional investor/trader and I didn´t managed to go from hundreds to millions with cryptocurrency. With a couple of month experience I would say I´m pass the status of a rookie, but – by now - I´m still a newbie in crypto. I just want to share my first steps and experiences within the first month in rhythmical posts. Let´s call it a diary of a crypto newbie.

The first two weekends

Pool game and Altcoins
It was at a weekend in November 2017. A good friend of mine Kevin and me where out to play some pool, when he out of nowhere started to talk about Bitcoin, trading and the Blockchain. For me, working in the area of technology, the term Blockchain wasn´t something new. Also Bitcoin had crossed my way some years ago. But my friend, totally hyped on this topic, mentioned something called „Altcoins“ and I started listening closely. He told me about the howl world of cryptocurrency besides Bitcoin. After 3 hours listening to my new „teacher“ and actually just one game of pool (Kevin won) I knew: „I´m in“.

About that time I was moving to another city and my new „teacher“ Kevin an me would be divided by round about 800 km. Being a friend of face-to-face interaction I actually forced him to have another „lesson“. After this meetup I had my Coinbase wallet and the first money on the way to buy some cryptocurrency. I decided to use Bittrex Exchange, because Binance was „too much“ for me at the beginning and the other exchanges hadn´t the look and feel I wanted. The money arrived a day later; I bought some parts of bitcoin and transferred the balance to Bittrex. I moved to the new city and was thinking about everything I heard about the “new world”. So far so good, but which coins should I buy? I decided to buy Bitcoin Cash with everything I had. By that time the Bitcoin fork – Bitcoin Cash (BCC) – was announced as the „new and better Bitcoin“ – so why not.

Two kinds of „What?“
Sunday (Nov 12, 2017): I woke up the morning after I bought BCC, opened Bittrex and… what? Overnight my investment doubled. I thought “hell yes” and tried to call Kevin, but it was half past 7 in the morning on a Sunday and he was still sleeping. With a big smile and some kind of “ruling the world” feeling I went to the kitchen and made coffee. One hour later after having breakfast and getting ready for the day I went back to my laptop and opened Bittrex again. Refresh. Look at the Balance and… what? I was exactly where I started. After refreshing the Balance page up to 10 more times I realized “yep gone”.

Totally frustrated I panic sold BCC looking at the downward trend in the chart and the “I rule the world” feeling was gone. Only thing left was the question “why didn´t I sell on the top?”. The rest of the day I did my first deeper research regarding cryptocurrencies and the market. Never again I wanted to feel like a fool, but the next weeks will show – jokes on me.

Regards,
Chris