Topic: How I end up being into crypto and my journey up and low (Read 340 times)

Many people has different cryptocurrency journey stories. The stories are different but most of the stories are similar and have similar mistakes and lessons to be learnt. I have lost money in the cryptocurrency market as a newbie and like upto 80% of the people in this forum. You can only avoid newbie scam if you joined this industry as a pro or you have a reliable pro mentor.

In all the stories I have read and comparing them to mine, I have learnt never to lose money. Money is very hard to earn but very easy to lose. Instead of me to lose my money in an investment I do not trust, I'll rather save the money.

It is the people who end up losing all their money, entering when the shitcoin on duty does not stop breaking highs and selling out of panic at the slightest. They do it the other way around, buy high and sell cheap.

In the end, the best way to improve your financial situation is boring, but that's not what these people are looking for. Do DCA of good assets, in this case of cryptocurrencies the best would be Bitcoin, and don't even watch the news much.

Many people have got the same experience as you and sad to say that many of them had quit while just a few of them continue.
But this is the result of making ourselves too easy and not investing in learning before starting. Because of what I see and due to the influence of social media influencers, many people think that crypto investment is a great place to multiply their money not knowing the risk awaits them and possible huge losses. This is to emphasize how important to have knowledge as our major investment because this is the big factor that leads to success, not just money.

There is a popular saying that "Knowledge is power" which means that only if had you invested in knowledge first about understanding how each of this crypto related concept works, it would have helped you making the right choice on which suitable for your kind of person, but rather you went about jumping into a field you literally knew nothing about and not long you gave up into investing in altcoin that had little or no value instead of Bitcoin, of which only if had it been it was Bitcoin you bought and held for long, by now you should seeing reasonable profit.

It was a trial and error and we did this for the sake of finding a place where can find contentment.
In crypto spaces, we can't find 100% profits assurance nor we can assure that we can have this xxx amount every day or every month. We tried many things, many ways in order to get what we want but seems not all the time we got into the momentum and so we experience highs and lows together with the volatility of the market. Therefore, it was hard to consider crypto as our main source of income due to the nature of the market.

I like your response and I believe that op should learn from you, it's obvious that you most comprehend cryptocurrency before venturing into it, if someone jumped into it without understanding the basic concept of it the person will definitely end up of losing its investment because it doesn't know the procedure of cryptocurrency.

Another thing I want us to understand again in cryptocurrency investment is that cryptocurrency investment is not something you will rish and join, if you want to excel in cryptocurrency investment you most learn and understand the concepts as I stated above my lines, those people who doesn't know the concept of bitcoin and cryptocurrency generally are the one who do have challenges over investing in cryptocurrency or bitcoin. When you know the rudiments of cryptocurrency you will know when to invest at appropriate time.

Well this is not a beginners mistakes alone there are still many old and experienced members who constantly still make this sort of mistakes, and this mistakes just have to do with greed, yes crypto-currency is profitable but the idea many have is that anything they do here must give them profits and this is where the mistakes comes in.

You can have all the knowledge of trading stock but trading crypto would be a completely different aspect, losing money is easy here this is the bitter truth, I always understand this that why I don't do random investment or trading the idea of having multiple streams of income is great but not thinking about the fact that you can lose what you have also is foolishness. Investment is a risk and not foolishness always take calculated risks.

From your story I think that you rush to grab mining, Trading, Airdrops and IDO opportunities but this isn't what should be happened. But almost every beginners face this problem. But you are lucky that you never fall in a crucial situation but learned from your mistakes. When you have much knowledge about what you are going to do and the pros or cons then you should make your decisions.

I also tried many ways to earn and spent a huge time in completing scam airdrop tasks. Even I also invested in many scam tokens which gone almost zero. We should spend our time in potential ways. Never go for an IDO which creates hype but you don't have knowledge about it's fundamental. Never try to trade (specially future trading) when you need to learn about the analysis and buildup your strategy. Always try to invest in top ranked Cryptocurrencies which are potential for the future. So I hope your story will inspire beginners and help to correct them from faults.

I agree with you; some people simply do things for which they have no information. Later on, people will begin to grumble about it. Before you can do anything in this world, you must first learn about it. The key to success is knowledge. Trading is quite risky. Particularly intraday trading. You must conduct extensive research and have extensive experience. I've seen a lot of folks lose money and get into a lot of debt. This can generate a lot of stress in your life and lead to addiction to substances like alcohol.

If you are a beginner and wish to invest, consider that the money you are investing is not valuable to you.Invest in tiny increments. Even if you fail You gain knowledge. Don't pay attention to any investment quotes or philosophical concepts. Invest in accordance with your financial situation.

haha, I really respect your words. i laughed because I just replied on a topic in which OP asked us to share our review about this forum like how did it changes our views and make as more mature and knowledgeable about crypto. I thought your answer better suits there.

Because this forum also, (as I mentioned before) helped me to understand the basic structure of Crypto and new projects whether they are Defi, NFTs or metaverse, etc. my interest was built just because of this forum. Well, yeah I did not invest my money in such a virtual mining platform because I had this mindset that tell me.

Why invest money or give money first hand, while we can test things out? So, I still had doubts in my mind at that time, that these platforms might scam me. So, I should stick to only free resources. And in that journey. i only made a few cents $ just because of a browser that allow us to mine and was giving money too. But the money was lesser than my time and the cost I was bearing of the internet. So I left the whole crypto sphere in 2018.

> I also IDO Investing where you invest in the lower price but sometimes takes long and also experience projects where they run with the money

Bro the chances to get a great project where you get to IDO is very low. Most of the projects which you will be able to invest in easily will be shit tokens with no utility, they just need your money for their liquidity. That's it. I do not prefer those, however If you get a chance to do IDO on Binance Launchpad and you have high amount of BNB with you, that shit is different.

Hardly you can find anyone doing crypto that don't have a story to tell about his naivety start up with the currency maybe just a pretty small number would say they never had to blindly employ the wrongful route in their bid to invest in cryptocurrency due to their privilege of a guide from an already experienced entity. In your own case you didn't spend money in your bid, I could remember spending lots of cash  from one  virtual mining sites and platforms to another thinking it was going to fetch me returns after a stipulated number of weeks as given but it turned out all lies they were mainly virtual figures that were just reading. I lost both time and money.
But thanks to the BTT forum my enlightenment on crypto projects  has been one I can't compare to sometime ago, and if it were today I won't have falling to such shits like I did.

When you’ve started your crypto journey, it’s a good thing that you already have $1k spent on mining.

Me however, I was broke and I can’t even afford to buy Bitcoin as I was in bad debt that time.

As I continue to explore, I found out about airdrops and bounty hunting. That’s where it give me the light.

One of my early crypto friends even gave me a little bit of ETH for gas fees.

Despite it took me a few months to finally have my first cashout, I still did it consistently while struggling in my finances.

I remembered my first cashout was like $1,200+. So not only I have paid bad debts in full, but also treated myself with a decent 2nd hand laptop and have given Christmas gifts to my family and loved ones.

And the rest is history. Just being proud to be into crypto and Web3 despite the ups and downs. I don’t see myself leaving this industry. I’m here to stay.

That's right, there are still a lot for us to learn and also check our knowledge in crypto by answering quizzes or other ways to measure iur knowlei. Honestly, I learned a lot of information about Bitcoin and yet, JI still make mistakes where instead of giving the correct answer, I mistakenly give the wrong answer like wrong words that is used in a sentence. It happened to me not long ago and I am going to retake quizzes for fun and to know if I still have vasf knowledge or not.

I think that has been experienced by many people who join in crypto and I have experienced it too. We as beginners at that time (and until now, I still consider myself a beginner because we still have a lot to learn), didn't have much knowledge and just wanted to make a quick buck. But we are wrong to think of it like that because in any case, there must be a time and we have to go through the process.

I see you can learn from your failures and should not give up before we achieve what we want. Maybe it looks hard to live but that's what we must live to achieve the target we want. By learning more, I'm sure it's only a matter of time until we can get what we want. And if we don't give up, we will succeed.

There is still a lot for us to learn in crypto; with the remaining steam, we have to get up and learn even more. With so much new knowledge that keeps popping up in crypto, we have to learn more so we can get the moment to reach our target. Keep up the spirit @OP and don't give up.

I think most of the high ranking member on this forum are miners, or at least they used to be miners. I am not so lucky to have enough money to buy mining equipment back in the day, but I know Bitcoin and this forum because of my friend who are a miners. I personally never mine, never actually make money out of trading. I came to this forum to learn what is bitcoin and how to make money out of it, I end up using bitcoin and crypto as payment I received from my client, then I knew a lot of people and with my skill in graphic design I work in several crypto and blockchain project.

The point is I think everyone here glad they know bitcoin and crypto, at least for me it makes my financial a lot better.

We have different story since I am poor and won't be able to afford even $1k usdt or $1k usd to buy things needed for mining as an example but I did search online about platforms where I can earn money without spending money and yes I did find one which I earn $2k usd in crypto which helps me a lot to pay the fee needed so we now have electricity in our home. I think you doing mining without enough knowledge or even not gaining more knowledge then you would have known about ethereum that time and won't have to buy an equipment and then sold it at lower price at a later time. Well, it already happened and just think of it as your learning experience.

Focus and consistency are very important in business. And these two important traits are developed through knowledge. OP lacked knowledge which was why he was moving from one section of crypto to another. The place of learning cannot be overemphasized. These days people can learn anything online without restriction. But I also encourage people to learn from apprenticeship and mentorship if they can find experienced people around the neighborhood. Instead of making costly mistakes, they will gain firsthand information and experience from people that are well-grounded in the proposed area.


Every day I see myself as a new student in Bitcointalk because there is always something new to learn. There is always new development or enhancements in wallets, mining, trading, security, and privacy and this forum is one of the places you can have firsthand knowledge of these innovations. Anybody that decides not to learn before investing in any sector of cryptocurrency will always learn the hard way. It is better to learn patiently than to suffer losses.

Such a bumpy ride that you've got but still, the journey never ends on this market and there's no exit if you're going to think of it. I do hope that you maintain your status and portfolio as you continue with your investing journey in the crypto market.

This is a common story for the many and it's not really easy at all. You are right that you either learn and continue and never give up because all of the hard work and learning you've gained, they're going to be worth it someday.

I assume that you've mined with the GPUs and that's likely when there's a shortage of the chips even til' now though but that time, the demand was too high so the prices are.

I'm sure the story you wrote has a lot in common with other crypto investors and myself included.

Because when starting a journey in the crypto field, it is certain that the journey flow will not be much different from the journey story when starting a business or starting a job in other fields. Because at every step of every day, there will definitely be challenges or obstacles, which will make you want to give up physically and mentally. But it is in this phase that everything will be determined. Do you want to keep going, or give up and stop at that point. So far I am very grateful, because since I decided to join in this crypto field, there have been no failures or big losses that I have experienced. Only small losses, that I have ever experienced.

I don't know if it's luck or not, but what I've realized until now, when investing or trading in crypto, you could say I'm very timid to take big profits behind big risks. Apart from the science and knowledge that I continue to learn, maybe it is because of one of these factors that keeps me safe and can avoid losses.

So in essence, when starting to start something, whether it's a field of work or starting a business, and that includes trading or investing in crypto. Indeed, there will always be ups and downs that must be prepared to continue to face. And most importantly live all phases with patience, sincerity and the desire to continue to grow.

Interesting... Quite a similar journey for me. Although I was a very social media inclined person being a digital marketer but will always be afraid to trade, invest, or even participate in the Bitcoin market. Simply because I am scared of losing my little bucks ( ).

But one thing I've come to realize in this world of tech, especially as far as Bitcoin and cryptocurrencies at large are concerned is, KNOWLEDGE and ABILITY TO TAKE RISKS.

When you have the knowledge and take your time to understand the market, it gives you a clarity on how the system works. Similarly, just like every other investments, Bitcoin requires you to have the ABILITY TO TAKE RISKS.

My decision to join this forum was impeccable as that has been instrumental in my ability to learn and understand, even more, the intricacies in the digital currency.

Voila!

Ethereum used to be really profitable for medium hardware especially when it was cheap in the past! I mined some using my GPUs and made a nice profit from it. However, I eventually stopped due to the increasing mining difficulty. So after like few months I sold a few GPUs, but I still kept some for my PCs at home.

Currently, I am primarily a Bitcoin holder and also work freelance for Bitcoin. I'm always open to job opportunities related to my field of expertise, and things are going well in that regard. This forum provides numerous opportunities too and I'm confident that anyone interested can find various services to earn their first Bitcoin in here.

Successful people are the people who did not give up when challenges came. The process is challenging for some people and more challenging for others, but one thing I know that can ease the journey is when you have the experience of someone else to learn from, it can help you make better decisions that you will be happy about. You will be able to avoid some mistakes too. If you have good mentorship, and someone to ask questions (like this forum), you will know as newbie to cryptocurrency that it is better to buy and just keep the bitcoins safe than to try out mining and trading without and knowledge or experienced person to help you through the difficulties.

Well not all mining are that expensive, I don't know if you heard about airdrops before, its pretty quite simple its just required a few couple task for you to complete and you will be rewarded with some of the platform coins but the only problem is that most of the this mining project actually end up to be shitcoins. Utopia in the forum here also has a mining option in their platform where the user will be rewarded with some utopia coins(crp) and  it aslo doesn't cost a hell as you are implying but I guess mining BTC would be a totally different case.

Your story was that way because you lacked the knowledge of those cryptocurrency,and you feel that you can jump into it without having the knowledge. Mining is an expensive investment where you will spend more on electricity and if you are not prepared for it,you will end up packing your equipment.

Trading is very risky and when a newbie wants to start trading he must have a good knowledge and strategy on trading,if not you will run in big loss. I am happy that you have gotten experience from your past  and this will guide you through in your bitcoin journey. Some of us learnt a hard way and some in a simple way because they had people that was there to put them through.

Hmm, Op in whatever domain you bring yourself in there will the hurdles and downfalls in your journey because these obstacles are actually the experience you'll gain after reading your whole story I think I am quite lucky with it I did start IDO investments but ended up earlier before much losses. Trading was lucky and unlucky both for me in throughout my journey I did trade and holder some shitcoins but that was also not a big blunder because I did never invest in Greed.

Anyway I think as we always use to say consistency is the key so always stick to whatever you are doing it will be the money bringer someday haha you need to be aware of the market.

Almost the same story except on doing mining. I am more affiliated before on investing on ido and ico projects some become fruitful and some like what you said run with the money invested. But right now, I am more on strict investing on some legit ones that I am deep research with. Also I like the testnet and retroactive airdrops activity that Ive been doing now as I am able to monetize some of it. Some are good money but its still an ongoing process. Theres a lot of opportunity either its a sideline or web3 jobs. You just need to find your niche and even herr in forum if you are good posters there are signature privileges that offered to users.

Mining difficulty going up is normal in crypto, if that's why you sold your equipment you don't even understand what you got yourself into in the first place, you are to keep mining and saving those coins for possible future increase of value, anyway you learned your lesson.

And now Ethereum is no longer mineable, but I will like to know what happened after you sold your equipment,  because this isn't entirely ruined, if you sold that equipment where is the money?

I expect you to buy Ethereum or Bitcoin after selling the equipment, since you don't want to keep mining, and doing this will still bring back all your losses if you hold for long term.

Trading is even more risky for a newbie than crypto mining, your problem is you jump into everything to quick, you don't take your time on learning things out first, you made the same mistake in mining and in trading.

There's one thing I will advise you about making a decision in life on what to do that could be profitable, if you start with something, you can't expect the results to be instantly, there was a time when mining was a difficult task for miners to find more earnings through the mining because of some challenges attributed to the technical setup of a mining rig, power supply and government regulations, also come the recent time where miners smiles because of the introduction of the bitcoin token also referred to ordinance inscription on block space, miners make alot huge of money, which means there are ups and downs in everything we do in life.


I can see it from this aspect as well that maybe you will need enough time in studying and learning about something first than investing in them first, once you have the knowledge, you wouldn't find it difficult to cope and endure the situation because you have the understanding that things are in seasons, it's not about changing what you do from time to time, you need to work on yourself and build values through learning.

Different case with me since I really search for opportunity online as I heard that there are some ways that we can earn money thru different services that we can provide to other people. And luckily I just spot the crypto especially bitcoin keyword since that is the start of my crypto journey and been introduce first in faucets where we earn a few chunks of bitcoin which we can use for another small investment that we choose. Second are those cloudmining and hyips which I lost some amount and move one since this is one of the baddest decision I take before. Then goes with investing on ICO's and after in trading where I find this one challenging since we can earn depends on how we follow the trend and the analysis we do.

To many challenges has been faced but gladly all works well and I can say that crypto journey is really good and exciting.

That's because you are still afraid of lacking your estimated value. usually in your little heart you say " wow, down again" and the thought is born save first, then enter again. where do you lose, First your initial value enters for example $100 in a coin/token, then you cut loss only $90 ((including fee taker and maker) Next, you enter again in the same coin and another with the remaining $90 you have. if a correction situation comes back you will do the same thing again and that is normal. but, the value of your investment is reduced by 30%. only then do we realize that what we are doing is not right with the principle of trading for profit, not even a loss.

Yes. We are taught by circumstances and if we are able to control it all, I am sure that little by little your monthly estimate will increase from your initial capital to enter the market. getting 10-20% per month in crypto is very good.

After reading your story, now i begin to think that all of us have the same story.  Of course not 100% same but almost events are same. Like in my story i started mining (virtual) on websites but i never invested or used any of my money. Because i had this rule that, in online work, you must not give or spend money first. Always be professional. So i just spent my time on all the airdrops, mining apps, then i left it in 2018.

But in 2021 i came to know about this platform and i started to understand things. Like how new project comes, roadmap, white paper, basic growth of anew project. How i learnt these things? Simple, by joining bounties. Then i started to wrote articles and now i am a full time article writer (as free lancer).

How it started for me in crypto truly every journey has ups and down we should always enjoy and thanks our experience will help us along the way, may we got scammed, we learn from it, just never give up because once you gave up its the end of it.
When I first started I go with Mining spend almost 1K usdt I do break even when i did mining but not for long, since the difficulty goes up, i sold my equipment, for a lower price, that's when i realize i should have bought Ethereum that time which only worth less than a hundred dollars.
Next is Trading after a bit disappointing mining with Ethereum and other coins which i thought would price skyrocket i turn to trading, where i bought coins, during this time , I have less knowledge so I spend dollars to unknown coins, with little less knowledge about it, and ended up losing some from it, but some investments grow, although since being a new trader when i see small breakout i immediately sold what i have, which should not be the case and not recommended to do.
I also IDO Investing where you invest in the lower price but sometimes takes long and also experience projects where they run with the money, although some have high returns on investment there are also losses which we also call high risk high reward, we can also call this that risking might have good return but as a newbie or new comer don't try what i did because, if you have less tolerant to stress do not try  it, Aside from that I also try Airdrops where you spend a lot of time hunting projects or a good project giving a way free token , this is a time consuming task because, you have no guarantee of getting any just luck, sometimes turn out to be scam and also get information from you,
Scammers will be all over the place targeting potential people with less knowledge I once have know a person who put their money in the project like a retirement money, then suddenly the site goes down, all i can say is just start over, because of less knowledge and being impulsive will pull you down so always remember to be curious of everything be always on guard and don't just pull the trigger.
Then Bitcointalk I may be new in the forum but i have experience outside of the forum but when I'm already read the topics i known only a small part, That i need to continue learning from more experience people in this forum and outside, currently Im still trying to learn more, and getting information and sharing what i have learn before, but as a member who is just getting started, never give up, if you fail its just the beginning and there will be more, obstacle on the way before getting successful, besides maintaining your status is the hardest, like maintaining your portfolio, im telling you, as per my experience, keep learning to my fellow newbies don't just decided quickly, read and learn, currently im down again, but im not giving up because if i do then its done.