My early day memories on BTC and LTC when I first came into crypto

My early day memories on BTC and LTC when I first came into crypto

By Bala | Bala | 29 Apr 2021


4 years back when I first started learning about the crypto world and started investing, like many people, BTC was the first coin I invested into. After BTC, I started hearing a lot about LTC and people said that LTC will become the next BTC because the use case was better and it had very low fees in transactions.

Back then when I do a transfer from one wallet to another wallet in BTC, it would take a minimum of one hour to reach the wallet. I'm not sure about how it happens today but I think it would definitely be more than one hour for the transaction to complete. I was thinking that blockchain itself is slow by its nature because of the complexities and the security aspects it provides. Those were my early days. Then after learning so many things, I came to know about ALT coins and LTC was the first altcoin that paid attention to.

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Some of my friends told me that LTC will become the next BTC because people will want faster networks and faster transfers. I had no idea about LTC but I did purchase 2 LTC with the money I invested. It was on one of the Indian exchanges where I bought that LTC and I was holding it there for a long time. Someone then told me that it is not safe to have the coins in the exchange wallets and asked me to move them to proper wallets or hardware wallets. That is when I started paying attention to wallets and what that was all about. Before that, all my transactions were on exchanges and I was moving coins from one exchange to another.

Looking at the graph

I had a little bit of experience in doing share market trading. That was the year when all the stocks went down and my trading on the stock market was completely stopped. All my stock investments were red and I couldn't even sell them or take my investment out. I did not do any frequent share market trading in the last 4 years after that huge fall.

Someone told me that trading was very good in the crypto markets and they told me that the crypto markets were also available 24/7. I was so attracted and wanted to explore. I did make a good profit in my first few trades. It was all initially on BTC and I was scared to even read and understand altcoins even though we had so many altcoins available. Those were the days where even mining was also a thing and many of my friends were also doing the mining.

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I learned to look at the graph and guess when would be the good time to enter and when it would be the good time to exit. Though it was not technical a wild guess, it did work. I was able to book 100% profit with my BTC trading. After that, I was doing a lot of trading on LTC. The reason was that the transaction fees and time were a lot better on LTC than doing something with BTC. It is a bit sad that I don't have any LTC holding right now and it makes me feel that I should purchase at least a small amount of LTC and hold them for the future.

After all these, my real crypto game started. Those were the days I didn't even know about Steem or any altcoin for that matter. Later when I started exploring options to spend my time and earn crypto, that is when I found out about Steem and my journey started.


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Bala
Bala

Developer | Writer | Blogger | Gamer | Blockchain Enthusiast


Bala
Bala

This is my general blog. I share different articles I write every single day.

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