WARNING! Don’t even think about crypto investments until you read this!
I remember it like it was only yesterday when all the coins and tokens were booming and you could get massive gains in every crypto asset you invested. It was the crypto investments bull run of 2017. It all looked so easy and it almost felt like this could go on forever. But it was just a big bluff since I and my friends weren’t with a financial background, and only got into cryptocurrencies in May 2017.
The first crypto investments – Bitcoin and altcoins.
I and my friends started talking about cryptocurrencies in early May 2017. My ex-girlfriend had been talking about this thing called Bitcoin and I started reciting it to my friends. The more I talked about it, the more I understood it in the sense of a great investment opportunity. It was the time when Bitcoin was around $1,200. I told them that it is a new form of money, only fully decentralized, with no one able to shut it down or take full control of it. That it is a great opportunity to invest because ever since it is created, it has seen only a rising pattern (at least that’s what I thought back then).
It seems like I was very persuasive and they really understood my arguments, because the next time I saw my friends, they had already registered in this thing called “Poloniex”. At that time, as I already mentioned, neither of my friends had any economic or financial background. I didn’t even know that there are such things as exchanges, hence Poloniex.
The first trades
So we put our heads together and started looking at all the assets, charts, prices. Everything seemed like out of this world, and needless to say, we didn’t understand anything. My friends bought a little portion of Steem (STEEM), Ripple (XRP), Stratis (STRAT), Litecoin (LTC), Siacoin (SC), Folding Coin (FLDC) (I know, right?) and Dash (DASH). Why we invested in those particular assets, I have no clue. It just seemed like the way to do. My friend, who found out about Poloniex kind of lead me into this. However, when we sat down, and he showed me how everything works, and at first I bought into Ripple. But I kind of didn’t believe Poloniex, I switched to Bittrex. Later that paid off.
To read the full story on how much money we profited and what were our biggest mistakes, click HERE.