How I Started Investing in Crypto.
Being in the IT industry, I was hearing about $Bitcoin from my developer friends.
This was around 2016. One Bitcoin was $450.
At that time, Bitcoin was THE CRYPTOCURRENCY. Everything was about this coin. The consensus back then was to mine it and to keep in a physical ledger.
It was too extreme of an idea that I did not got to take part in. I did however researched a fair bit but the implementation would take a bit of capital (which I did not have at the time) and some faith that it will reach as high as it did.
We’ll hindsight is 2020.
FOMOing in $BTC.
Succumbing to the FEAR OF MISSING OUT or FOMO as they say.
Circa 2019 – I decided to ride the wave of Bitcoin.
I did not have a digital wallet yet at the time. With two of my friends
(P and R), we pooled together a small amount to buy a fraction of one $BTC and have it managed P‘s already existing account in Coinbase.
One $BTC was around $9000.
We had a lucky break as soon as within months, the price of 1 $BTC has risen to around $13,000.
We collectively decided to HODL (Hold On for Dear Life) and to not sell our shares until 1 $BTC has reached $20,000 which was it’s ATH (All Time High) price.
Paper Hands!
Paper Hands – slang term for a risk-averse stock trader who sells even where there might be a greater advantage in holding onto a stock for longer
In middle of the darkness of my bedroom, a bright light from my phone woke me up.
I squinted and tried to read the message sent by P asking if it is time to sell our units of $BTC. We had gained a fair bit of profit from our investment at this time. $20,000 for 1 $BTC seemed to far a reach and we decided to SELL.
ALAS – Our promise to hold until the ATH was broken.
Looking back, $BTC did plummet to its All Time Low of approx $3500 per 1 $BTC, during the pandemic of 2020.
It was a sigh of relief that, yeah, we thought that we did the right decision to SELL.
New All Time High!
Hindsight is truly 2020.
Although the price fell to super low it did rise up to its new ALL TIME HIGH of $60,000 in March of 2021.
Who are we kidding, even if we had kept our small amount of $BTC, we would most certainly had sold when the prices is shooting up to $18K – let alone $20K, $30K and $60K.
Started investing stocks and crypto eToro.
A ton of experience under my belt.
A whirlwind of emotions of profiting from a digital coin that you cannot hold physically in your hands.
The regret of selling too early, and the dream of hitting it big got me hooked on crypto.
In 2021, I have decided on starting on my solo journey of investing and holding a cryptocurrency.
Is it $BTC again, you might ask? If $BTC is GOLD, then what is SILVER?
The second biggest cryptocurrency is $Ethereum.
March of 2021 – I created an account in an online trading platform eToro and bought myself some units of $ETH.
I am still holding my bag of $ETH today.
That is a story for another time.
I would love to know your experiences with Crypto. Let me know in the comments!
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