A rant about Cryptocurrency
Cryptocurrency — A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
Now I am not an expert by any stretch of the imagination, but I dabble.
I have property, I have some shares, and I have some crypto.
Yes, I know crypto is the most volatile and the riskiest, blah, blah, blah.
I have lost money with crypto, and the shares I own aren’t looking too good either.
Insert crying face — Why did I pick last year to invest, hindsight is wonderful.
Why Cryptocurrency
Most financial advisors don’t recommend it due to its volatility. Perhaps I should have taken notice.
However, with this volatility come the potential of being that person who purchased it and actually made money. They do exist but just not me!
Why did I risk it
I am a person who will try things and take risks. Not physical ones like skydiving though.
They say that you shouldn’t invest what you can’t afford to lose — it doesn’t ever feel good to lose though does it.
However, I do not have all my eggs in this basket and it is a very small amount compared to my overall assets.
Without risk
You know the saying, without risk, there is no reward and last year, when I began, I was up $600 at one point. So on this high, I invested a little more.
Then wham — everything started going south. However, not in an obvious way, it went down up, down up, down, down, down, down. Now my coin is worth approximately one-third of my investment. Awesome huh!
Do I keep waiting to see if I have zero or do I cut my losses? At least it can’t go into negative territory.
How I am feeling now
While I have lost two-thirds of my initial investment, I do still feel that it may make a comeback.
While the world is still in a little turmoil with covid, war and financial strains worldwide, we shouldn’t expect too much. Should we…
The shares I own are also looking sad, with many below what I paid, and I am going to sit on them too.
Are you buying or sitting on crypto?
I’d love to hear where you are on the journey.
Have you invested, made money, and sold before it all went to (poo emoji).
Are you holding and hoping for the future?
What advice do you have?
Help you and help me
If you are thinking of buying low, note it may go lower, I have a referral code for you.
You get $10 BTC and I get $10 BTC with the blow link or code.
Coinspot using this code REF9MANBW
This article is purely my experience it is not investment advice and you should do your own research before making any decisions.
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Thanks, Kelly
