Today I want to talk about the Anchor protocol coin and how it benefited me in the process of trading it on Binance and how it got unleashed from binance but yet still on other exchanges that I am still yet to find out how best to go about the market flows of this anchor protocol coin on other exchanges.
Anchor protocol is a lending and borrowing protocol which offers a 19.5% yield on the deposits of stablecoin such as depositing UST to attract a sweet profit and this coins have a connection with the LUNA project.
For more information about this project, check here on CoinMarketCap
Earlier last year I was still new to the crypto world especially the trading part of it and trying to find my way around the best coins to trade and how best to make profits out of them was what landed me to many losses and at the end profits since I learnt from my mistakes. The very first set of coins that brought in profits to me was not many and anchor protocol was one of them.
It is true that there are a whole lot of Way of strategizing how best to go about the trading parts of the crypto market space and as for me my Very First steps was kind of rough as I already explained earlier how I made a lot of losses and at the middle it just came in to me as a shock as I made few profits from few coins which also involves the anchor protocol coin.
It was pretty simple and risky at the same time for me trying to still focus and not to give up after having few losses. What I did was that i went ahead to analyse the market and the trade chart within a day and predicted which direction the chart candlesticks was going in a daytime as I placed to buy the coin. It was funny that I made my profit after I got the coin at a lower rate and within a day it goes up to few percentage higher and I swapped it back to a stable coin and made my very first $60 profit. Again and again I tried to swap my usdt back to anchor protocol coin after analysing the market again and was still lucky to make few more dollars many times before I got out of the business due to the reason I will be lamenting on down below.
It was a very faithful day I got email from binance advising I trade out any anchor protocol coins left in my wallet as they were going to be removing the coin from the market space. I believe few of us must have gotten the mail if not everyone using binance because as of then I know very well I wasn't having any of the coins as I already swapped them to a stable coin with each profit I make while waiting for the market to go a little bit down before I get in back.
Trust me it was a risky one but then again I found my way out. Remember it was my very first time and it was pretty hard to understand which part I really wanted to focus on the crypto space. like I always say that the web3 space is very broad and so finding your own pitch and sticking to it and making profits while learning other parts is very important as you get to sustain your time making money while learning more. This is basically how I got into the market, made few profits and later couldn't find the coin on Binance and didn't bother looking for it on other exchanges but then again I still find my way around the crypto world with more and better strategies while I learn more because learning never ends for me.
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