2016 is Coming to an End and Bitcoin is on a Tear.
I returned to the world of crypto currency a year and a half ago after losing my ass back in early 2014. At the time I invested my BTC into AuroraCoin which immediately dropped like a rock. My first altcoin trade and I lost 80% of my money. I took what remained and bought Dark Coin, now Dash, which also took a dive. My BTC was crushed to dust within two weeks thanks to being a newbie in the crypto trading space.
My Naivety Led Me Down That Path.
Whatever I do in life I do with confidence and sometimes I pay the price. If I would have taken baby steps, learned about altcoins and how to properly trade I would have never been in that position. I truly underestimated how quickly trades move in the altcoin world.
Now I see many of my fellow Steemians interested in Crypto Currency trading. I know many of you have thought about buying a few of the altcoins or even some Bitcoin. I beg you to take caution with the Altcoins. This market can eat you up and spit you out in minutes.
How My Trading Changed Over the Last Year.
- I no longer invest in ICO's (Initial Coin Offerings). I only made money on one ICO out of five that I participated in. That ICO was LISK which ended up making me a nice stack over time.
- I now focus on a few altcoins that I know instead of betting on tokens I don't understand.
- I don't buy the hype. Be careful where you get your news on Crypto Currencies.
- I keep 70% of our Crypto Currency investment in Bitcoin. I used to hold the other way around. If I would have kept 70% in Bitcoin since I returned to Crypto Currency investing I would have a much larger investment.
Crypto Currencies I Believe in Long Term.
- Bitcoin- The Grandfather of Crypto is not going anywhere, anytime soon.
- Dash- I like the team and the moves they are making. The Masternode concept is brilliant in my humble tech opinion.
- Steem- This is my favorite altcoin community. Since I write on Steemit.com I get to mine Steem by producing content. Freaking Genius!
- Ether- If they can get their crap together this token will do well. I don't currently hold any due to my wavering confidence.
What Are Your Favorite Crypto Currencies for 2017?
We all have our favorite. What is yours and why? The great thing about Steemit is that there are many great crypto minds on the platform and each of you has important input. Please tell us why you love a particular crypto in 2017.
