This is very encouraging. I'm new to crypto trading - all of two months. Came in at near the `best time' towards the middle of July - when BTC and altcoins were undergoing a correction after the stupendous rise from early this year. I had started with Ethereum, Golem, Stratis and Zcash at Jaxx.
But even with the lower prices, I was making a paper loss of -33% after just a week! However, since I didn't plonk down all my capital at one time, I could average down the price. July 16-17 was the bottom. My paper loss got smaller and smaller until I was at breakeven. Then +25%. All within a week.
I then discovered Bittrex. My capital isn't that big - mostly money from stocks I had sold off at Bursa Malaysia, bought BTC and transferred to Bittrex. But I'm pleased to say that I had made some satisfying returns too over the past couple of months. Especially with big winners like Rise, Navcoin, PIVX and Ubiq.
At the moment, the cryptomarket is much, much better for me than the stock market or commodities. I hope things will continue like this for a while yet... until I make enough to have a decent retirement fund :)
Beautiful and encouraging story, I am really happy that you could take the crap out of it!
Sometimes we start small, but that doesn't mean that it will stay like that forever, you just have to keep constant and keep doing! That s my philosophy as well: this is not some money I am making for buying a car or some sht, this is for making a fair retirement plan as well, and until now so far it looks good. Let's keep doing and pushing!!
Crypto revolution happen once in human history ;)
hopefully we will be there for taking care of it ;)
I thought we are already... ;)
Hey cendana from malaysia! I'm from Malaysia too! If you invest in mid July, you should have decent ROI on ethereum and zcash! The price is pumping up day by day.. Too bad I didn't buy zcash yet. I'm thinking about ZRX and district0x, seems promising project to invest. What's your opinion on that?
tngflx, I was new and totally inexperienced in early July. There was no one to guide me. I wasn't too clear about "exchanges". Tried to register with Coinbase since I had read that it was "the biggest" or something. Then was met with that very disappointing "Sorry...not available in your country" :( Fortunately I discovered Bittrex through a discussion group somewhere. The prices are much better than at Jaxx with ShapeShift. Convenient, yes. But the ShapeShift transaction costs were rather high.
One mistake early on - I was approaching the cryptomarket like I do with Bursa Malaysia. 20-40% gain? "That's good enough"., and I sold those coins waaay too early. Felt like crying when they doubled after I sold :)
Yeah I'm using Luno now. And to beat transaction fee, check out my post :) https://steemit.com/bitcoin/@tngflx/how-to-save-money-from-bitcoin-tx-fee. I see... I'm still hodl until I earned at least 40% of profit :D I wish it will worth it for ethereum. But now everything drop again :( Time to shopping!
Ah, that post about saving money will be useful. I had felt rather wary yesterday morning, when BTC was very near $5,000. When many others are exuberant, I'm nervous. So I sent back a chunk of BTC to Luno, and sold for ringgit. Even paid the 1% taker fee because I didn't want to wait. Then BTC suffered a drop.
@thing-2 Wow! This is so nice of you! I definitely didn't expect anyone to upvote a sub-comment like this. Thank you. This is a very encouraging development in my very early days at Steemit.
0x... I've been thinking about it since a few days ago. Especially after watching the Hong Kong guy, Michael of Boxmining's video on it. He is one of the video creators I look up to. Very level-headed guy. ZRX... I'm not familiar. But will look it up.
I'm actually winding down a bit. Getting somewhat wary with these spikes of 100%-plus. I've made a few very good buys last month. Maybe I should just hold on and do nothing. But I don't have nerves of steel and I worry about the prices suddenly turning the other direction.
Me too man. I'm checking the price every morning LOLZ. But now I just think that it's a norm in cryptocurrency after almost 2 months of observing. I'm new to this field too.
By the way, sorry for my very small 0.01 upvotes. I don't know how to set a bigger sum. Very new to Steemit. I had transferred some STEEM to here, "powered up" but I'm not clear on how to change the sum etc. :)
@thing-2 just upvoted your comment. The upvote worth 0.69 dollar and he has 1k dollar in his steem account. That's approximately how much you should invest. But the upvote power is growing non linear. So you have to trial and error.