Bitcoin Baby - Day 31 "Did I make or lose money during my first year in crypto?"


Looking back at my life in crypto I must say... It has been a hell of a ride

I was born into this world only a year ago thinking would be sinking within my first 3 months.....

Guess what I am still here!

Yes, as you could read last week (Bitcoin Baby - Day 30 "How much money I [email protected] up in my first year") I survived my first 12 months in the crypto-verse. And what´s even better, and what you could not read last week and probably all are waiting for 😋is:

Yes, I am still in profit!

Can it get any better than that?

Yes, it can!

Because even if get fully REKT I will not lose a fiat cent...

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So I guess now you want me to talk numbers....

 

  • For those that followed me a bit, I started with $900 in Bitcoin in my hot wallet.
  • $275 to trade with on my Bitmart account
  • $350 invested in Wise Token
  • $1250 used to buy the May dip on Bitvavo Exchange

That totals $2775, and that was a bit more than I planned to invest when I started. I planned to invest about $1500...

Yep oopsie.. I got a bit too excited

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So a $2775 investment was on the table....right now it´s $25.

OMG, that looks like I lost it all, but of course, that is what I want you to see.

What really happened

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I was able to withdraw my initial investment, without selling any coin I actually paid for.

Okay, I can hear those crypto Maxi´s brains go brrrrrrrr "Why would you sell for FIAT ????"

Let me explain that.

First, I am not a CryptoMaxi ... I am a baby. A baby that made many mistakes in his first year in crypto...costly mistakes. These mistakes and the risk of losing my investment were holding me back.

Secondly, I am not a rich baby and $2750 is more than I make in a month. So to increase the risk I am willing to take I had to decrease the loss I could experience.

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Sound contradicting but actually, it´s really simple:

I like playing it safeish, so overleveraged futures are not my thing. I am a typical spot trader because the worst that can happen is ending up with a worthless bag. That still sounds better than being liquidated.

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So what is safer than not being able to lose?

Nothing, I can´t lose. So now I can make an investment and go whatever. This doesn´t mean I stopped thinking about where to invest. I just do not worry as much about what would be the right time to take profit. Because I love profit and I definitely had a profitable first year in crypto.

What did I do in 2021:

I tried to make my money trading.... well maybe should call it buying and selling.

I invested in staking a bit.

I Earned some crypto writing blogs and creating content.

I made enough to withdraw my $2750 investment.

So what´s left?

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Is there anything left to play with in 2022 Bitcoinbaby? 

Well, yes I have something left. 

This snapshot is taken at the point that BTC is on 48.5K

BCH on Celsius       $85

CAKE DFI                 $250

Metamask               $560

WiseTokens             $620

Bitvavo Exchange    $1150

Bitmart Exchange    $2500

Kucoin Exchange     $3500

Coinomi Hot Wallet $3200

And $140 in XTM on Torum

Did anyone do the math on that one?

No one taking out the calculators?

Well, let me do the work for you ...you lazy sons of lazy mothers.

10K left after withdrawing my full investment....10K profit that´s insane!! 

 

So where did that money come from:

Well, my $250 dollar trading investment in Bitmart would be about $3000 right now.... except for the fact I send $500 in BTC to my BTC hodle wallet. So

Bitmart is holding $2500 I made from trading that´s an 11X.

Bitvavo, my second trading account is holding $1250 dollars in crypto, and that´s basically where I started with there. Somehow trading did not make me anything yet here and that´s basically because the app will not allow putting in buy and sell orders (I can do so on the laptop btw).

So this will become my slow trading account (buys at dip sells at bull-run).

And then there is my Kucoin trading account.

This is where everything I make seems to end up:

Most of my Noise & Readcash funds went

The WAX I made from selling FREE NFTS

The AMPL from Publish0X,

The DFI I make on CAKE

And XTM I made on TORUM.

My Kucoin portfolio is currently worth $3500 (after sending $500 to my Coinomi wallet) and the only fiat investment I ever was my $70 initial CAKE DFI deposit. 

So that Coinomi Wallet received $1000 in BTC from trading profits and is currently worth $3200. The initial investment was $1000 so I made 100% in a year by just holding... which suggests that I am a better trader than hodler.

Wise staking was not so wise. If I would have just kept the $425 of ETH I used for buying WISE it would now be $1500.... unfortunately my WISE is currently only worth $620, which means that after fees I will have a $100 profit.

And that $140 on TORUM, what is that about? I thought you made sooo much money on TORUM?

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Well, there is a bit of a story there. If we would do a quick count>

My BTC investment did nicely and is now worth $3000.

The BCH I made from Noise&ReadCash would probably add up to about $1000.

My $350 investment in Wise has doubled to a little over $600 (4600)

My $250 dollar trading deposit on Bitmart 10X´ed to $2500 (7100).

Trading on Kucoin made me $750

WAX made from selling my free NFTs $350

Blogging  $250 

CAKE DFI made $650 me (9100).

So now we are missing $4650 (2K to reach that 11K and the 2.750 dollars I withdrew as that was all the money I invested in crypto this year).

And that $4650 dear reader, is what I made on TORUM.

Yes, indeed 42% of my profit came from a very early metaverse project.

So there you have it, I am being fully transparent as always.  

Bottom Line

I am a horrible staker.

I am an okayish trader.

And my content did not pay the bills...

But TORUM made me rich.

For those of you curious about how I made my XTM, half of those earnings were made by referrals which were very lucrative in the old days and the other half by doing the missions diligently. 

Now, what does that mean for next year?

High-level I did a 6X on my initial investment. If I can do another 6X on my current one...the numbers definitely would become interesting as we would be talking 70K by end of 2022.

Keep dreamin baby

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Yeah, indeed I am not expecting to do another 6X. Because the chance to find another TORUM is ....no idea.

But I will just take out that 40% and that would mean I still would do a 3 or 4X on my current investment. That would mean a year from now I would have 40K??

Even that is really hard to imagine, then again I started a year ago with nothing. Currently my portfolio is worth 10K, hence it should not be impossible, right? 

Lessons Learned

As I wrote my lessons learned (advice to myself for the next year) last week, I should make fewer mistakes and more profit in 2022 (yeah right).

Would one year of experience and a 10K starting capital really allow me to do a 3-5X on my current capital in 2022?

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That´s something to worry about in December 2022, because I am just gonna keep going. I have not been bored a single day in this crazy crypto-verse. And if can keep this up,  maybe by the time that this baby is 8 years old, he can have his retirement party..... 

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New Years Resolutions

  • Get a better understanding of that whole DFI Yield Farming
  • Learn how to properly use Metamask, the bridges, BSC or maybe wait till ETH 2.0 is there and gas prices drop to an ATL.

 

Curious if I will survive another year in crypto, keep following my articles for more baby bull poo 💩.

Yes, it´s poo but it´s honest poo.

So go wash your hands after scrolling through my poo and make sure to hit the like button prior to doing so.

Thanks for the read and have a lovely rest of your day.

 

Post Scriptum (Yes, that is what PS stands for 😁)

 

Platforms where I Earn Crypto for my Content (Affiliate Links):

Torum - https://www.torum.com/signup?referral_code=bitcoinbaby

NoiseCash - https://noise.cash/u/BitcoinBaby

ReadCash - https://read.cash/r/BitcoinBaby

Hive - https://hiveonboard.com/?ref=whywhy

Peaked - https://peakd.com/register?ref=whywhy 

Publish0x - https://www.publish0x.com?a=l9avg4xnbG

 

Exchanges where I trade Crypto (Affiliate Links):

BitVavo Exchange- European. Higher trading fees (0.25 %) & Great Customer Service - https://bitvavo.com/?a=C21A94C2FD

Kucoin Exchange - Hong Kong. Okay, trading fees (0.1 %) & Contains a lot of low cap gems. Customer Service takes time - https://www.kucoin.com/ucenter/signup?rcode=rJ821BX&lang=en_US&utm_source=friendInvite

Bitmart - Global (USA allowed) Low, trading fees if you use BMX (0.025 %) & Contains a wide variety of coins - https://www.bitmart.com/en?r=7XFCVy

 

Places where I do Liquidity Mining and Staking  

Cake DeFi.  Here you have to invest $50 dollar and you get 30 dollars for free. You can withdraw your 50 dollars at any time or use them for Liquidity Mining, Staking, or lending to earn more DFI rewards. The 30 dollars is locked for 6 months but earning you interest of the 6 months. https://app.cakedefi.com/?ref=197670 

Celsius. Celsius Network provides a platform of curated services with fair interest, zero fees, and lightning-quick transactions. You can store your crypto and get rewards or lend crypto with low fees. Celsius has been around since 2017 and stated to always have the best interest of the community in mind. My experience so far has been good although I will not stake all my crypto with them...NYKNYC

https://celsiusnetwork.app.link/1046126043

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BitcoinBaby
BitcoinBaby

Little kids keep asking why.....as a Noob in the Big Bad Bitcoin world the same is happening to me as I try to figure how to survive. My Posts will take you through all the things happening in my mind since I got on the BTC Rocket into Crypto Universe


BitCoin Baby -  "Crypto is Fun"
BitCoin Baby - "Crypto is Fun"

I was given 3 Golden Rules by the friend that I referred to before , the one that got me hooked on the crypto. I wrote about two already: 1. Not your Keys Not your Coins 2. No Panic Sells Day 3 Rule number three Crypto is Fun. This will be the basis for many nice stories.

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