Crypto trading. A topic which is the main focus of around 1/5 advert I get.
I mean… How many trading platforms are there???
So how did I start with it and why?
Well, the Adverts were no reason for it. Most of them looked like a PowerPoint presentation and I didn’t open YouTube to watch ads, so I’ve skipped them or had an ad blocker.
It all started with a conversation at work where it ought, well let’s give it a try.
Task 1 – Choose a Platform.
As mentioned before, there are as many trading platforms as sand corns at a beach.
So I just chose the one my work college used.
Before I signed up, I researched it a bit and it seamed trustworthy.
Registration was easy. They needed my Mail Address and phone number. To verify myself, I needed a picture of my identity card as well as a short video.
Task 2 – Add money to my Wallet
You want something, you need to pay it.
To deposit money, I had two choices: A credit card or a bank transfer.
I chose the later one since the credit card option would cost me 5 bucks.
Since I only want to tip my toe into the topic, I started with 25 bucks.
After a day, the transfer was done.
Task 3 – Start Trading
Well, let’s say I wasn’t that lucky.
I have no clue how to trade, and therefore I just bought two random coins. One of them was just released this year and was very cheap. Needless to say that both coins crashed, and I lost about 7 bucks in 48 hours.
And that’s exactly the reason why i did not invest more money!
But I never started this experiment with the expection of being a millionaire in two days.
I look at it as a more long term investment.
That’s the reason why I bought such a new coin. My expectancy/hope is that it gets a surge (like other coins also had after a year or so) which I can use to sell the coin for more than I paid.
Since I only paid 0.0002457 per coin, which results in around 45k coins, I also get a good winning if it only grows by 0.0001 bucks.
The good winning is of course relative to the investment. I haven’t bought much, so I don’t expect a lot.
Conclusion
If you want to try crypto trading like me, give it a shot!
But only invest money which you are willing to lose.
Also, don’t expect huge winnings and take your time. Money doesn’t grow on trees.