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Buying crypto. We have finally arrived at the big moment. My plunge if you will. When I went from dabbling and just getting my feets wet. To jump straight in into the deep end of the crypto pool.
The first crypto I bought
I always try and learn from my mistakes. And sometimes it takes more than one try for me to get things right. But I try and get there eventually. Even if it takes me a few detours. And I try not to make dumb decisions when I can help it. But as they say, sometimes I am just unlucky when I am thinking. But I am getting slightly ahead of myself.
Back to my first crypto. The first crypto I really bought bought was Titano. And I guess most of you now know where we are heading. I took the plunge and bought Titano for a total of $210. Not a lot for most people but given the fact, that my monthly income is just over $900 most months it is a fair bit for me.
The second crypto project I bought into was Libero. Starting to see a pattern here yet. ^^ This was not as crazy for me as the Titano. And I only went in for ~$100. Still a lot of money for me tho.
What got me was my own hubris, thinking that I was smarter than everyone else. Because I know how ludacris the projects were. If you are unfamiliar with them they both are auto-rebasing projects. It means you get more tokens simply by having the tokens in your wallet. And the amount you get is way way out there. over 100k APY.
While I clearly knew these projects were domes to fail from the start. I still went ahead and committed. And that is where my hubris comes in. I thought I would be able to, at the very least, recoup my initial investment. What I mean by that is these projects have a high buy tax. So you start out at a loss. And it usually takes about 30 days for you to recoup this loss.
But of course, that did not happen. And now both of them are worth ~$10 respectively ~$0.5. So Lessen learned. Do not think you are smarter than everyone else. You are not. At least that is my takeaway from this whole ordeal. And no matter if you think your getting in early and will be able to get out before it crashes. There are always others who got on way before you did.
Sadly this will be if for this series. And there is not really that much more to tell, that I can tell at this point in time at least. But I will sit on those two for now and what a little until I am able to take a few more steps on my journey. But do not think this is it, it will be back. I just need to get a few more steps under my belt before I can make sense of them and what is what. =)
But I hope this has been at least somewhat entertaining for you all to follow along with me. Please share any thoughts or comments in the comment section down below.
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I have also just started a new series of weekly posts, that will go live every Friday. You can catch the eighth and previous step here:
Just over two months as a writer, have I made any big bucks yet? - My Journey to Financial Freedom
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