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When I first entered the crypto world, I was young and naive. I wanted to find the one token, that would do a 100x and I would be instantly wealthy. Everyone’s dream.
But to your and my surprise, I did find that token. It was MATIC. I managed to get it at $0.01. Unfortunately, my greed and inexperience were too big, and the gains I didn’t lose in shitcoins, got taken away by the collapse of Celsius. I still keep some of the MATIC in my other wallets, but far, far from what I had and what I still wish to have.
I had to start from the beginning.
Now, years later, I consider myself old and still naive, but I did change my perspective. I no longer look for that one coin, and I no longer go all in. I own a variety of coins and I buy them regularly with DCA.
I take advantage of both market conditions—ups and downs—to increase and fortify my crypto holdings. Whenever the market starts to move up, I sell some of my BTC for altcoins. When the market starts going down, I keep most of it in BTC. I ignore most of the news as well. I don’t care about the current market sentiment, all I want is to increase my crypto wealth in the number of coins (I want that 1 BTC). Because cryptocurrency market news is a reaction to recent events, and not for the future, don't base your financial decisions completely on it.
The formula for portfolio management is simple: the more tokens you own, the larger the profit. If I just have a little amount of money to invest, I examine potential investments and look for protocols where I can buy a lot of the tokens and which I think will increase. For example – I want to own both BTC and MATIC, I can see that MATIC has appreciated a lot in the BTC/MATIC pair, therefore I will buy more BTC. What I am trying to say is: don’t compare your worth to USD or stablecoins, but to BTC.
Plan...plan…plan…management!
It is crucial to use some software for your portfolio management. Or at least write down all of your trades and buys. Having an app or spreadsheet to keep track of your spending and profits can also be immensely helpful. When tax season arrives, this will also come in handy. I keep it simple; I use Excel spreadsheets.
I usually try to buy tiny, additional amounts of bitcoin when its price falls. I average my Bitcoin costs every month.
I don't want to sell my Bitcoins or use them to make money. I think of bitcoin as a real store of value and treat it the same way I would actual gold. I can borrow money when I need it by using my bitcoin holdings, just like someone who owns a lot of gold or other commodities could do the same thing. But like said above, the only time I sell my BTC is when is it dominating!
Read my previous article to understand what I mean by dominating BTC!
