Crypto – “A complete newbie perspective”
I have been “investing” in crypto since September 2017 and I have never been more confused in my life than this in anything before. I live in South Africa and the value of my rand vs the dollar first of all is pretty daunting in its own sense, cents, excuse the pun. I had been hearing so much news about crypto, and how people were investing and making fortunes from their investment.
So with my extremely useless and limited knowledge I decided to invest first of all in bitcoin but when I went onto my local exchange to buy with my few rands saved, besides been shocked with price I noticed that our local exchange only had ETH and bitcoin, the price of bitcoin was way out of my league, and would only be able to buy .00?? of a bitcoin, so I tried to buy ETH, the dollar value for me was $447 meaning +R5000 at that stage, mmmm what to do with my rands, so I managed to buy 4 ETH, scary thought but Okay I did it. Now what, I waited in anticipation, constantly looking at my local exchange and googling prices and various sites to find out what was happening to the value of crypto generally, I received so many varying results I became even more confused.
Then all of a sudden I saw my ETH grow substantially and so did Bitcoin, but even more out of my league now, December 2017 I was showing off to everyone that I had originally spoke to ask if they were investing in crypto, they all said no ways are they taking chances with something they knew nothing about. There I was making money and trying my utmost to convince others with my lack of knowledge in crypto, but no was the answer.
Then January came and February, I decided, with the volatility of the market I could withdraw my ETH to rand value and when it dropped I could buy back when lower, makes sense, well it worked and I ended up with 6 ETH, wow, I was investing like a professional. Laugh out loud, did the value of my proud investment drop, yeah wasn’t funny then, so I decided to invest more but in different crypto “alts” that were punted as good investments and “so called” good for long term hodling, well I was wrong there, it dropped even further, sometimes growing and then dropping, oh my goodness was I paranoid. Well now its September and have seen so much excitement when it grows and so much negativity when it drops, I have never met so many people in my life that I have met online, from some extremely rude, to very helpful positive people that will do anything to explain something that seemed complicated for a newbie. I am still very positive with a few ETH, 200 EOS, a few thousands of other alts, too many to mention but I know with the possibilities of growth and great marketing and proper buy-in from the general public will make crypto what it was meant to be.
The point of my post is not to gain more Trybe tokens although it would be nice, but to let all the positive investment experts out there that want crypto to grow, for many reasons other than in order to help people like myself and others in “so-called” third world countries, and the many others that are too paranoid about even putting a few cents in what I think can be a very viable investment opportunity. I do this for my daughter who is now 8 years old and hopefully one day she will thank me for an amazing investment, or maybe she will say what a silly Daddy for wasting so much money, well I hope it’s not the latter.
Please explain and help as much as you can, it will make a difference especially to the great potential and vastly untapped market that could be utilising not only the crypto currencies but also to invest in valuable blockchains. This is my first post and hopefully not my last, so be nice, thank you.Recommend0 recommendationsPublished in