2,300 lost due to poor decisions

2,300 lost due to poor decisions


After my luck with $BANANA investment, I was able to think things through a little better.
There were still things I didn't understand, for example, I came to think that if the price of a currency went up, it would never go down again.
I would never have imagined that there would be so much volatility in a market.

After several days, a rumor came to me of a coin called $BUNNY was exploited. That coin was worth $600 at its all-time high and because of the exploit it was worth $2. I didn't think twice and bought $140 worth of $BUNNY thinking it was a mistake and wanted to take advantage of it to try my luck.
The next day my $140 investment was worth $1000! I'm sure you're wondering, did you sell?, the answer is NO, thinking it would be worth more. I don't know what was going through my head in that moment, but I saw the $1000 and I didn't sell anything.
Several days after , that $1000 was worth $20. Yes, again making bad decisions. But my head was not ready to understand what was going on. I clearly didn't understand anything and because I was ignorant on the subject, I wanted more and more. I never imagined that someday I would understand the crypto market but in the meantime I missed opportunities to make money that if I had made better decisions, my current situation would be very different.
Again I repeat, my head did not understand anything at all.
That $BUNNY investment ended in nothing and I even lost money because I tried to trade it instead of selling and making a profit.

At least I got a good experience.

I learned many things but one thing is true ,opportunities must always be taken. If you start to doubt, you can lose it and then come the regrets.
After that ,I tried my luck again with other shitcoins and i lost money again but luckily it was little because I was prepared and I already had experience.
I already knew DEX better, how to pay a transaction with wallets and more.

There are a lot of people today who don't know any DEFI and don't want to leave the centralized exchanges because they "feel safe". I always try to tell them that centralized exchanges are the worst and when they want to suspend withdrawals or impose minimum withdrawals, they will do it and that's it my friend.

Many people in my community have asked me which is better, dex or cex and clearly my answer is it depends. For example I grew up on pancakeswap while learning all about blockchain. I learned from the best (Experience) and went straight to the action.
More precautions we take , it greatly minimizes the risks of being hacked or getting into places where they are suspicious.

You will lose money along the way but you will gain a lot of experience if you start with DEFIs directly.
I'm in cryptocurrencies since 2020 and there is no better and more interesting place than DEXs and blockchain networks. That's where the action is gentlemen.

Centralized exchanges are there to be intermediaries and to use for something specific. nothing else.

Few months later i had another "exploit" experience with another coin called $POLYYELD in the POLYGON network. That was a huge story because in one night i earned $900 with $30 investment.
In that case rumors came to me again in our telegram group and all members of that group went to polygon to buy some $POLYYELD coins. Suddenly the price started to pump heavy and i started to take profits, one by one , just for protect me. I earned $900 in 40 minutes!!!
But again, my head was not prepared to see so much money in a short time.
I invested my money in a stupid blockchain game and a currency that no one knew about, just because they said to get in.
Every single thing I did, were bad decisions of an inexperienced novice with no psychological preparation about finance.
I clearly lost all the money and my initial $30.

I missed two opportunities that I could have taken better advantage of. But that loss of money made me realize where I was really at and that it was practically the wild west.

Those opportunities would have positioned me better and whenever I look back on it I cringe.

Another time , I made $400 in a coin called $FEG token and wasted it on a DEFI called mustard finance , just because I wanted to make money fast.

Three missed opportunities simply for not being able to handle certain situations. It all translates to the fact that it is important to manage feelings when handling money or investing.

And you?, Have you wasted opportunities that are hurting you today?




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LCAITECH
LCAITECH

If you are new to this world and you would like to learn more about how these technologies work and how they can affect your life, you have come to the right place! Quality and easy-to-understand content that will help you grasp the basics of blockchain


My first steps in cryptocurrencies
My first steps in cryptocurrencies

Like every human being, when we start to try new things or that take us out of our routine, we can feel uncomfortable. Thanks to a friend, I was able to get interested in looking for information about cryptocurrencies and how they works. At that time, back in 2020. I worked in a computer office as a computer technician and wanted a change in my life. I was tired of keeping schedules and the worst of all, as many would imagine, the salary was not enough and I did not know another way to generate income.

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