So in continuation with my Trading journey, yesterday I venture into the world of IDO or ICO or IPO's, whatever the correct term for this maybe. XD
2 days ago as I was looking into stuffs on what I could buy with my measly $20 budget, I stumbled upon an upcoming IDO which is set to be the first marketplace for NFT on Binane Smart Chain and the thing about this is that it is backed by BINANCE and someone called Mr.Beast who apparently is a very popular Youtuber with millions of follower.
What made it more appealing to me though was that initially the starting price of this token was only at $0.033 USD. So I was planning on going all in with my measly $20 and was very excited to hold at least 600 FINE.
Or so I thought, after hours of waiting for it to become available, I did not manage to buy any since there apparently is a whitelist needed for this one and it seems one of the requirements to be whitelisted (one's address) is to have at least around 3000 POLS in their account.
I checked the current price of POLS and it is at ~$3.265 USD*. So yeah NO! Out of my league!
I then waited for it to be available on PancakeSwap which is set to go live an hour after the IDO. And I didn't manage to take a screenshot of it but I swear I think it was immediately sold for $8+ USD. Even at the moment of writing this, it is still sold at $2.84 USD.
I would have $4800 USD now if only I was able to buy it on the pre-sale and immediately sold it.
Anyways as for me, in fear of missing out I unfortunately bought some at the price of $4.57. I know I should have just waited for a couple of hours since the price is expected to drop but.. okay I have no excuses for this one and apparently nor had the patience to wait. XD
It was a good learning opportunity for me and that is what I am after. I lost a few bucks as expected but I learned something from that experience. Still, pretty stupid of me to buy even though I know that the price will drop in the next few hours right?! Lol Good thing I only have $20 investment though.