I've dabbled in crypto long enough to know that you have to risk it for the biscuit. I've experienced the good, the bad and of course, the wallet hack and I've taken lessons from everything.
If you're new to crypto then let me tell you now, you're going to take losses. Some losses will be bigger than others but you've got to ensure you have some powder to go again.
The first thing you're told the moment you even glance at crypto for the first time is that you should only invest money you're only comfortable to lose. It's a very important message that prepares your mind for the chaos.
Let's be honest though, there's no amount of money that one is comfortable to lose. Every single penny I earn was earned through hard work, so it should be used to improve my life.
What the hell do you mean "don't invest what you're not willing to lose"? First of all, I'm not willing to lose anything, no one is, but like I said, accepting that message prepares you for the inevitable madness that you will meet the moment you dip your toes in the crypto market.
There's still a high level of volatility in the crypto market. Meme coins constitute the majority of volatile trades with top assets like bitcoin and the likes also getting involved in bull-bear markets. If you're just getting involved, you simply have to get with the times and ensure you're playing the market and not the other way around.
In my years, I've been on both sides of the game, getting played by the market and playing the market. I think the most important thing is to ensure you land in a net positive position.
One of my best trades was going in on Steem just before the hard fork. I ended up with a chunky amount of Hive and that in turn gave me ammunition to invest in other projects.
I invested in a lot of projects from then on and well, it all didn't go well but I like to think I ended in net positive. At one point in my life, I even lost $10k worth of assets and didn't die. I was flying.
I've since liquidated a lot of my assets to fund my relocation to the UK but i still have residue to hope on and well, there's life, so there's hope.
My most successful investment is easily splinterlands. That game changed my entire life and I'll forever be grateful. The market isn't as hot as it used to be a couple of years ago but even to this day, people are still earning from the game.
I use to actively play the game, develop strategies and whatnot but since I liquidated, I haven't quite been involved. I'd like to go back to playing at some point in the future.
Another successful investment was in Leo tokens of Inleo project. I still use the platform as much as I can.
Interestingly, one of my not so good ventures was investing in the different Cub projects. I had high hopes but sadly, things didn't go as planned.
The point is that you win some and you lose some. You have to go in with the mindset that this trade could be your best or your worst, even if it's an asset that you're familiar with because the crypto market is unforgiven and brutal. Well, until we meet again, keep your head on the swivel and stay woke my friends.
