I first invested in the cryptocurrency market on April 1st of this year. At the time BTC was around $1100 USD. So I bought in and put traded my BTC for a couple ALTs that I believed in. As I was new, and nervous despite watching the market for six months and feeling confident, I got into a couple cheap ALTs that didn't have much attention at the time. These coins soon went to the moon as we say. XRP & STRAT
From this point I thought this game was easy and it was simply just to hold my ALTs for years and I'd be wealthy. Then I found DGB. I got in cheap and rode that train for some time. By some time I mean I went to the mountain top and about half way back down before I decided enough was enough and got out. I was still in the black, but more importantly I learned a valuable lesson.
Set a goal. Reach the goal. Reduce your exposure.
Now I promise you I've made some horrible trades. Not all rainbows and unicorns here. But I've also learned quite a bit in my short time in this game and I think the most important lesson I've learned is that had I just stayed in BTC without diverging I'd be showing decent gains. BTC is up around $3300 USD since April 1st. However, by trading ALTs instead of BTC my portfolio is exponentially higher. At this point, I keep little BTC and usually that is reserved for acquiring new coins I find that I like. Many in this game would call me foolish, buy I disagree.
Goals matter. The end game for me is to have a nice stockpile of BTC in 3-5 years. Without investing new money, my BTC doesn't grow. 1 BTC = 1 BTC.
This is probably redundant for many of you, but I wanted to share this because this space is being introduced to many newbies every hour of every day. Hopefully we all can take new people under our wings and help them grow this community.
Happy Trading!
You are right about alts, I use them to grow my "big 3" BTC,LTC and ETH for now.
to this day DGB is the only one that burned me, I was poised over the mouse to click sell when it was at 2200 sats and I hesitated liteally one second too long, it's never come back and even though it's going up right now, i'm not getting back in, lol.
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