How I became a "mini whale" in Ethereum: The complete story.

How I became a "mini whale" in Ethereum: The complete story.

By MadMaxx | Psycho Crypto | 26 Feb 2020


It's story time again!

In the comments section of my first post where I told you my story on how I got from 0BTC in account value to 0.1BTC completely free in 8 months(link to the post is here), a lot of people asked me to do more posts along that line.

The support I got on that post was amazing, and believe it or not, 4000 people actually read what I wrote!

So I have decided to tell you all another story today. This time, it's how I got a lot of Ethereum and basically became a "mini-whale" in Ethereum.

Let's get started!

So if you read my original post(linked above), you'd know that I eventually completed my challenge and got to 0.1BTC. After that, I had started trading actively, and had started making some actual money.

Before that time, I had heard of Ethereum but had never really paid attention to it.

However, this was alt season(late 2017), so there was no way I wouldn't have heard of Ethereum at that time.

I still continued my twitter giveaway method and I kept on earning free cryptocurrencies from it. But because I wasn't paying much attention to it as before, I wasn't winning so often anymore. I probably won two a week as I can remember it.

I also continued to participate in surveys more extensively. This was the holiday period from college, and I had another 2 months before a new semester began. So I was determined to make my bitcoin earnings grow.

When alt season came upon us, I noticed that Ethereum, the coin I had only heard about but never given much thought had really ballooned in value. From around $200 to a little over $1000, or 5x it's value. I had to take notice of that.

So I began my research into what Ethereum was. I had already made the mistake of buying Bitcoin at the top in my early trading days, so because I knew that Ethereum wouldn't go much farther than 5x it's value, I decided to wait it out.

I read up on Ethereum, smart contracts, gwei and everything in between. It was a very defining moment in my life, as I was able to absorb information faster than usual.

Then the crash happened. Ethereum fell back to $183, a record crash in history. 

Being fully equipped with all the necessary information about Ethereum, and its price correlation to Bitcoin and how running smart contracts will always make room for moving Ether which brings price back to a defined level, I decided to spring and buy some Ethereum. From all my online ventures within the time that Ethereum crashed, I had accumulated a little over $2000 in both fiat and free cryptocurrencies. 

I went all in to Ethereum at this time, buying up about 11 Ether. This was a first for me, owning up to 1 unit of a certain cryptocurrency.

My bitcoin holdings at the time had increased from 0.1 to 0.15, so I was definitely making progress on that end, small as my progress might have been.

Upon buying 11 Ether, before the end of 2017, Ether's price suddenly rebound. All the way back up to around $700.

I remember prematurely selling off my stash for $600. It was still good profit, as I nearly quadrupled my money, but I wish I had sold at the top.

Then, Ether crashed again down to the high $170s. I blew my account on Ether again. I was still trading Bitcoin and Ether at the same time in between these spikes and dips, so there was always a little money I could use to buy that little more Ether.

Safe to say that Ether has been ranging within the $180-$250 range since then. Unfortunately, this isn't the movement I hoped for, but that doesn't mean I didn't profit off of it.

I endeavoured to buy the $190s and sell the $210s, and rake up some profits in between. This action, coupled throughout 2017, all the way through 2018, and also 2019, along with constant increments from various online sources(including Publish0x very recently) has allowed me to own 20 Ether in value. Now I know that this isn't a lot of money to many people. But at the current value of Ether, it is a lot of money to me. Considering that I only spent $2000 initially.

I now consider myself a "mini-whale", although whale accounts look something like 2000ETH, or 4000ETH.

I don't go around dumping prices on exchanges or anything like that though. My primary aim with this gift would be to increase my ether to become whale value.

I currently have about 6 ETH on various exchanges earning me some more free ether by trading(I use custom made bots with my strategies programmed in them), while I have the remaining in cold storages.

It has been a very fun ride, and although I know that things would have been very different if I had gotten into Ethereum at $7, I am very grateful for the gift I have here.

Thank you for reading another one of my stories! And have a fulfilled rest of your day.

Cheers!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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