(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!
(you may need to copy and paste)
Have you dabbled in cryptocurrencies yet or thinking about it?