On December 4th 2020 I bought my first ever crypto - by February 4th 2021 my stack had accrued 700% profit...as I write, it is February 12th, and suffice it to say, that number has only grown. This is my brief but happy story; the story of a rank amateur, armed with nothing but a few morsels of sound advice, and his short trip to a near life-changing sum of money. I write this mostly for anyone who is looking at the market from the outside, watching the green arrows, and thinking they have missed out. I can tell you categorically that you have not – there is plenty of time to be a part of this movement and thrive. Even two months can be enough...
Timing is crucial in finance as in life, and I felt I was 6 months late to the party. My friend was screaming at me in March to buy a $3000 BTC – it took me until December to heed his sound advice...even six months late was early enough when the bulls start to go free. I would have heeded sooner, but my total lack of computing or technical know-how kept the crypto-sphere seeming like an impenetrable soup. Perhaps it always will to me to an extent, but learning is best done by getting ones hands dirty – it's fun rolling and hodling in the mud.
Starting with a higher profile exchange, and a modest few hundred Pound investment, I foolishly bought high and sold low, letting emotions and speculation guide my reactionary efforts...You see something rising – you want a piece of it, you buy...it falls, you sell, you lose. The small morsels of free crypto earned here and there, probably stopped me losing money in this stage. Then I began to slow down and wise up...the dark magik of Fibonacci and the markets was revealed to me, and the realization of the potential of the world I had been introduced to unfolded before my eyes. I started to see I was still on the ground floor of a great edifice that was being constructed around me.
I began to set my strategy...
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Only buy tokens supporting projects you believe in fully
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Diversify - Split tokens into clusters or nodes across different exchanges/wallets – each node should have big, medium and small cap tokens
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Use ETH and BTC in lieu of stable coins – believing their growth to be as near inevitable as anything in life for the time being
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Stack profits in the small cap projects and be prepared to hodl through the downs
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Never sell for less than you bought for...preferably double
- Know your floor/ceiling expectations for each token over time
- Remove emotion
My portfolio is currently divided between 32 tokens split across 6 exchanges and multiple wallets. This provides security by splitting my risk, both in regard to fraud/error and by allowing a very diversified range of tokens. As an example, one cluster of tokens I have set up is AAVE, SNX, EWT, DAG, AKRO, BAL, ETH, BTC (ETH and BTC are present in all my clusters). I keep all my profits (or losses for that matter) for these tokens in this closed group, allowing me to use the highs of one to slowly increase my stake in the lows of another. This simple step left me able to maximize the impact of my trades. Another cluster is KSM, XVG, DOT, ZIL, LRC RSR, ETH, BTC.
Research and some very good friends with much experience helped me find the small alt-coins with big aspirations – these are what started to take my portfolio to the next level. Some of these projects have already begun to mature: GNY, EPAN and ZIL for example...some are for 2022 and beyond, such as SNTVT, EWT and LINA. Find projects that are making themselves integral to the architecture of the future and wait: That way the bull run of 2021 can acquire you a real stake today in the future of some very big things tomorrow, while the price is, frankly peanuts. These rapidly growing projects took my lowly 4 figure stake, has already grown it through 5 and...who knows where it will go beyond that?
In the 2 months of trying to find my feet in the crypto markets I have learnt more than I have in a decade, earned as much money as I would in a year...all whilst being paid to be locked-down. Add to this I am less qualified than the next man and have made more than my fair share of mistakes.
Crypto is slowly changing the way I see the world and I feel my life change in the wake of so many projects with so much potential to improve our collective futures. Most immediately, it is a path to total financial independence for you, myself and anyone else brave, clever or downright bold enough to go against the mainstream grain and equip themselves with some financial survival tools.
From quasi-rags to semi riches...Good luck to you all...
