How I made 4x in my Crypto investment
Apply simple tactics to achieve great growth
Around the COVID era, I started investing in cryptocurrency. I had no idea about the market, had heard a lot about it and was curious to understand how to partake in it, so I started researching.
I was lucky to find an online school that taught me the basic knowledge. Encouraged and decided to start investing.
- Opening an account
The first thing was to register on a platform that satisfied my requirements. There are tons of Google Ads marketing investment platforms that overwhelmed me.
But using the knowledge I gained, I found the right platform and opened an account.
I was particularly interested in a platform with reduced fees and without restrictions for my location.
2. Learning and Investing
I started with a small investment and started applying what I was learning. With the help of other investment analysis methods, I learned how to read the market, and my decision-making skills improved.
Initially, I worried about losing my investment and monitored my portfolio every second. It was not good for my health, so I changed my strategy. I concluded I would not be a day trader but would hold my investment longer.
It allowed me to set up proper trading limits, stop loss limits and triggers, and set a portfolio limit for each investment.
It helped me build a better structure and reduced the stress I was experiencing.
3. Portfolio growth
For two years I invested in the market and watched my portfolio grow. I sold high and bought low. Sometimes I got greedy and waited too late to sell by disregarding the stop exit limit I set up. On these occasions, I lost part of my profit.
But when I followed my strategy, I was sure of profit.
In those two years,
My investment quadrupled.
My knowledge of investment management increased, and I was able to educate a few of my friends
My understanding of digital currency improved
The potential for financial freedom became closer.
4. Government regulations
The investment allowed me to pay my daughter’s tuition and monthly upkeep in her first year at the UK university.
Confident of my new knowledge I was sure to make a better run in the market and was waiting for the right time to increase my holding. Suddenly, the news of the government banning crypto trading and investment started changing all my plans.
Immediately banks were mandated to block accounts associated with crypto platforms, and investors could not withdraw their investment.
At this point, I decided to transfer my investment to my daughter in the UK.
5. The Fear factor
Not long after the ban, news of blocking the accounts of crypto traders filtered out. I became scared. I worked in the finance sector and though I was only investing my funds, I feared any negative repercussions that would affect my job.
Deciding to pull out was hard, but I saw no way out. I had a family to charter for and did not think it was the best time to resign.
6. Two years later
I saw the price of Bitcoin today and wondered where my holdings would be today if I had not exited the market.
I still believe the crypto market is a place for people to achieve financial freedom.
My experience with crypto investment taught me the following simple truths;
- Nothing in life is rocket science.
- To succeed start with the required knowledge.
- Take action while you learn.
- Give yourself room for failure.
- If you fall, get up and try again.
- Take a calculated risk.
Thank you for reading
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