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Finally, My First Cryptocurrency Purchase!
Today, September 13th, marks the day that I finally invested into Bitcoin and Litecoin! I couldn't do much, starting with $100 today as my paycheck has allowed for, but I have finally began my journey with cryptocurrencies and can't wait until I can start getting more!
I chose today as the day I would finally purchase when I woke up to see that the CEO of JP Morgan Chase has claimed that Bitcoin is a fraud. This led to Bitcoin dropping a few hundred dollars so I figured it made it a good time to buy.
Also, with China banning Bitcoin recently, it has made for a great time to buy some coins.
I'm interested in possibly buying/selling consistently as the market fluctuates to slowly get more, any advice or suggestions with that?
Replies (9)
Probably one of the best times to buy bitcoin right now as it seems to be in a pretty big dip, but I think it will eventually recover nicely.
Congrats...don't make it too scientific or precise...no way to time the "right" time to invest in these things even if spent all day trading...just as money becomes available...add some more...watch to see if grows and enjoy the ride...if this technology continues...I think the results will be pleasing...but...don't invest more than you can lose...as you see by today's action...no guarantee's in this market...
So, probably 10% of traders make a profit and out of that probably 1% do it consistently. So, I wouldn't really recommend trading. I mean, you could double your money one day and lose 75% the next. I think buying, holding and buying in further on the dips is the best way to go. I've taken screenshots of my portfolio and looked back on them weeks later and realize holding is much more profitable. Also, i hope you're in it for the right reasons and not just to make fiat. That's not what cryptos are about.
Welcome aboard! My suggestion is to be careful with day-trading. In my experience trying to guess the market and buy and sell to make profits has only given me frustration. You won't lose money if you just hold on.
It's my first day of purchasing crypto too! I will follow your adventure!
@baliblonde Thank you for obtaining this out..
@baliblonde Incredibly pleasant completion of article! Beloved the photographs and outline..
Yep, I also just bought $560 worth of Bitcoins today, first time, too.
Congratulations @baliblonde, now is the perfect time to buy. Good timing and good going.