Cryptocurrency -Bitcoin – Coinbase

(Have you dabbled in cryptocurrencies yet or thinking about it?)

Here is my story so far.
I started buying Bitcoin the end of 2017 right before the downward falling of the price.  It would go up and tease, but then fall again.  You have to be careful what YouTube channels and news articles you get your information from.  I kept hearing ‘Bitcoin is going to hit a million… keep investing.”  Luckily, I don’t like to lose money and I don’t put in more money than I can safely lose.

When Bitcoin was heading down then I started hearing, “buy it when everyone else is selling.”  So when it goes down I would buy a little, and I mean a little. One thing about cryptocurrencies is that if I want to buy $3 of Bitcoin I can. For $3 I will only get a small portion of a Bitcoin, may be about 0.0001.  Though I will own 0.0001 of a Bitcoin.
I was so excited that I started buying small amounts weekly.  I still hardly own anything and if it did get to 1 million dollars per coin and I sold all my Bitcoin , I would only have about $2,000 dollars.  Which is way more than I put in, but I would not be rich.  Like I said I only put in what I can afford to lose and I don’t have much.

Now saying that, I did get burned.  I bought a stake in Bitconnect.  Bitconnect was a lending platform with promises of great returns.  I found out later that there were people talking about Bitconnect being a Ponzie scam.  If I had heard that part of the news before I put my money in I would have never invested.  I got caught with my money in there when the program shut its doors and I lost about $100.  It hurt, though it did not destroy me.  I heard of people losing their life savings because they thought it was a sure thing.  There are other lending platforms out there now, but I have been burnt and don’t plan to go down that road again anytime soon.

I consider the money I put into crypto as a kind of savings account.  It may not make much, though anything it makes is a bonus.  There is also a chance I could lose it.  I have to know what kind of risk level I am comfortable with.

If you are interested in dabbling in Crypto and want to start small, you can use Coinbase. Coinbase only sells 4 types of Crypto at this time.  There is hundreds of cryptocurrencies out there and Coinbase’s crypto is usually in the top 10.  The interface of this site is pretty straight forward.  If you decide you want to use Coinbase they have a bonus for the both of us if you use my link.  You and I will get $10 in bitcoin once you have invested $100.  You can do this amount all at once or just a little money at a time till you reach $100.

ONLY DO THIS IF YOU INVESTIGATE CRYTOCURRIENCIES FIRST AND ONLY INVEST THE MONEY YOU DO NOT CARE IF YOU LOSE.  This idea of cryptocurrencies could take off or tank.  And if it does take off it could take another 10 years.  I am looking at this as a long term place where I am keeping my money.  We will see how this story turns out years from now.
If you want to try it out through my link, here it is……. Good luck!

https://www.coinbase.com/join/5a2da51ea4b85d0226c4f892
(you may need to copy and paste)

Have you dabbled in cryptocurrencies yet or thinking about it?

Stock Trading: My Very First Trade

(Have you been wanting to trade stocks or have already started?  Have any stories to trade with me?)

I have been wanting to learn how to trade stocks for decades.  I have not had enough money to put toward this endeavor.  Things have changed a little.  I still don’t have much money to put toward trading, but instead I have found a way where it will cost me less to trade.

On April 23, 2018 I bought my first stock.  I did this impulsively and just because someone online said it was a good stock.  I have read several books about how to trade.  Don’t just follow tips, don’t be pushed because of time to get into or out of a trade, and don’t let your emotions decide what you will do.  I know this…. every book goes over these rules.  Though when it is real money I seemed to stop thinking clearly.  I jumped into this without really checking it out.  (I plan to make a lot of newbie mistakes.)

I bought this stock and it started to go down. NOOOOO!

When I was reading about trading I decided that Swing Trading (holding it at least overnight) would be more my style verses Day Trading (buying and selling the same day).  Now that I made my first trade, it is really hard going to sleep knowing I am down money.  I trust the system (mostly).  Historically stocks eventually go up unless something bad happens to the company.

So, I was going to wait till it went up and then sell it as soon as I was able to get a profit. It went up over my buying price twice, but I was at work and not looking at the market.  If I was able to catch one of those my profit would have been higher.  About 4x higher than what I ended up with.

I know you are waiting for me to tell you the result.  On the third day I sold for a profit of 30 cents.  You may not think that is impressive, but I was thinking WOOHOO!

I jumped in and did something out of my comfort zone.  A topic I only knew a little about and had never tried.  I ended up with a profit and not a loss.  In my book, that makes me A WINNER!

Have you been wanting to trade stocks or have already started?  Have any stories to trade with me?

[When I am writing a blog I will write it then walk away for a couple of hours or a day, then come back and reread it.  I usually find several mistakes that I didn’t notice at my first sitting.  Rereading this question at the end I didn’t realize I had made a pun. ….stories to TRADE with me…. LOL ]