I had my first cyptocurrency trading experience today. I bought some Reddcoin last month using shapeshift and I cannot see them exchanging it today. Since Reddcoin went up so much, I decided to exchange them half of them away to something more stable at least keeping my profit.
I actually prefer Litecoin but not much movement for it and the price for exchange was better via Bitcoin so I manage to trade and exchange for Bitcoin. I had to calculate the price of Bitcoin into US$ to consider for the exchange. After changing, I wanted to send the Bitcoin to my wallet but realised that the fee was too high. Decided to trade again from Bitcoin to Litecoin.
I had a shock for the second trading as I thought I chose the wrong price for Bitcoin to LTC and lost 95% of my money as the transaction went through so fast. After that, I received my LTC in my wallet and confirmed that I did correctly even thought I sold them a bit earlier where I can gain more profit if I held on longer. I guess playing safe is better when the movement of Bitcoin is so far.
I hope with this experience, I can trade better but the calculation of Bitcoin vs US$ was quite a task especially I have no trading experience. I guess everyone has to start somewhere. I only started in Nov actually. I manage to lower the transaction fee using Litecoin by more than 90% if I transfer via Bitcoin and it was much faster too.
Upvote and resteem are welcome! Make a miracle for me by upvoting this post above $200. Just wishing as there is no harm. With steemit members, nothing is impossible!
PS: The photo above is not me. It is just a free from copyright photo!
