Mistakes that I have made in my Crypto Investments

The space of Crypto investments is such that no one can ever predict anything for sure. It is volatile and even though you have best judgement and sense you may go wrong. My Crypto journey started in 2017. I had no knowledge then, not that I have much of it now also, it is too difficult for me to understand the technical terms. I come from a very different sphere all together and that also reflects in my writings. However, I have some fair understanding of this space. In the last 5 years journey along with some profits I have also made a good amount of loss due to lack of understanding.

In the beginning I was too lured to do trading. A couple of times it went well, and then rest of the times it failed, eventually resulting into net loss for me. I lost couple of my BTCs in that, it makes me feel sad but then eventually moved on as there was no point crying over it. In those days BTC was at 1000$ so it still was ok to digest the fact that there was a loss.

Source

The other mistake I made was not selling off at the highs. The time I entered into the market it was a bear market but soon in couple of months the bull market began and everything was rising at a much faster speed then anticipated. It was overwhelming. I had just begun so I was in no mood to sell anything, and I had very little also, so there was no point selling. My aim was always long term cashing out, so I wanted to wait. In the year 2021 there were some spikes in the market but again I did not take a decision of selling and that was foolish of me. I had a certain number in my mind, and I thought that I will only sell when I reach that number. If I had sold off some of my stakes at the high and then buying at the lows again then probably it would be faster to reach my target. As of now the market is very low but when it starts moving up I am going to sell in percentages to balance it out.

One more thing which I would not do in future is invest in coins which have no used cases and not get lured by the videos of quick gains. Whenever a new coin comes into the market there are lot of claims made and it looks the most promising coin but then it just gives up. The 2 such coins that I have had in my folio are Kasta and SPI. Kasta I bought at .60 cents and now it's 0.045 and SPI I do not even want to mention, it has probably gone to zero value for me from what I bought. The sadder part is that I had sold my 1 ETH to buy SPI.

I now firmly practice this that not to trade my BTC, ETH and Cardano for any other coins. Though as of now everything is at it's lowest but one knows that these are the coins with stability and security and will not go wrong. Cardano has been a little shaky in the recent times so even that I would like to cash out when the price goes a little higher. I have nothing much to lose over there as I had bought the coin at 0.06 cents.

This is the space, where we get hit hard, we learn and then we grow from there, however we still possibly can make the same mistakes again and again. What are your mistakes that you would like to share in your Crypto journey.

Thank you for visiting my blog. 👼🏻👼🏻💖💖🌹🌺🌸

"Unlimited Abundance, Blissful Happiness and Unconditional Love"