I am sure that most of you have heard about cryptocurrency by now, but if you haven’t, here’s a basic explanation: What is cryptocurrency?
We are in the middle of an era that can be life changing for our generation. Think, the beginning of the Internet, the birth of computers, etc. This new movement has generated anywhere from 20,000 to 200,000 NEW MILLIONAIRES (and continuing) since it’s beginning.
I got started with cryptocurrency in August of 2017, by investing in Litecoin when it was 40-70 USD per Litecoin . I ended up selling them after a month or two due to impatience. I had around 11 and in December of 2017 they catapulted to around 365 per coin.
I then started to do more research about cryptocurrency and was learning about all the different types of “coins” that were out there. I bought and sold a few coins, learning how the market works and getting use to the exchanges I was purchasing from. I started with about 500 dollars purchasing Litecoin (in small increments), invested around another 1000 dollars (again, in small increments) and stopped adding my own money. I was then trading coins and watching the market and trying to “buy low, sell high”. I had eventually turned $1500 into $4500.
Keep reading, I will teach you what exchanges I use and how to sign up and start trading, it’s very simple.
I then heard about a coin named Tronix (TRX). I eventually sold everything I had and went all in ($4500) with TRX. At the time, TRX was .03 cents PER coin. A week later, TRX shot to .34 cents PER coin and my $4500 turned into $34,000. I was shocked. I was working on my unit and that night, every time I refreshed my screen, my balance was increasing by THOUSANDS.
BUT, I became greedy and didn’t want to sell and wanted to hold until I was rich. I learned my lesson that night quick. Instead of selling and making 7.5x my original investment, I am holding now almost 2x. I think this project has major potential and I plan on holding this investment long term.
Side note: That week almost every coin hit an all time high, and then they all slowly bled out, including Bitcoin. According to the charts for the last couple of years, this is a pattern that has been followed annually, and we now are starting to see an uptrend in most coins now. Now Is the time to do your own research, find coins that you believe have promising projects, and INVEST.
If you want to read how to sign up on certain exchanges and start trading, keep reading.
Initially, I would sign up for a Coinbase account
- Then you add your banking information (So you can deposit your profits, or deposit money from your bank to Coinbase to trade).
- You could also use your debit card for instant purchases, it just costs a bit more because they charge a small percentage.
Coinbase only holds three coins (Bitcoin, Litecoin, Ethereum, and Bitcoin Cash). If you are interested in the thousands of other coins out there (like the one that made me $34,000) then you need to buy bitcoin, litecoin, or ethereum from Coinbase and send it to another exchange.
My personal favorite exchange that I use on a daily basis is Binance
- Sign up for an account on Binance
- You will then be able to transfer the Litecoin, Bitcoin, or Ethereum you purchased from Coinbase and start trading.
NOTE: All exchanges are free to sign up, and you can start trading any amount of money you feel comfortable with. Even 1 dollar (though that wouldn’t get you much). I recommend starting off with $100 dollars.
If this post has sparked some interest in anyone and you would like some more info or help getting started email me at: email@example.com