Is It Good To Invest on Cryptocurrency?

by Lanilane Ocbina

Cyrptocurrency has become powerful recently until they have faced downfall in the past week. It seems like they have all weakened but most say that it is a great time to invest before they all go up again. Is this true?

I personally tried Bitcoin out of curiosity in 2018 without any knowledge at all. I invested about 180 USD then and saw how the amount went down bit by bit until it was cut in half. I said to myself, it is such a waste of money. I was scammed. However, last New Year's eve (January 1, 2021). My brother, who has been into trading, told me abou bitcoin soaring high that night. When I checked my long lost account in coinsph (good thing I was able to still open it even after 2 years!), I saw that the amount I invested in 2018 doubled! And I got so excited that after 2 days, I decided to withdraw all the amount. Again, I don't have enough trading knowledge. 

Week after week has passed, bitcoin still pumping higher and higher and I was very disappointed because I could have earned four times the invested amount. Then my brother said, "well when you get into trading, you should guard your emotions". That is so true!

When you get into trading, you really don't know what will happen. You have the charts, you have the stats, the researches and all, but still, what's ahead is unknown. 

With cryptocurrency, the risk is totally high. It is highly volatile. Whether it is BTC, BCH, ETH, ADA, MIOTA, LTC, XRP, and the list goes on. They are all pumping and dipping in the most unexpected ways. So when you invest, you need to make sure that you cash in the amount that you are really ready to lose. It is a risk especially for short term investment. But if you are on for a long term investment, the pain in your chest will be less heavier. You can wait from 2 years, 5 years, 10 years, or even longer.

I have investment in crypto but for sure, I have learned to be less emotional or shall we say, I have mastered my emotions more. It is a good learning to take that we actually have the power over our emotions. And money can be a factor that will test it. We are not to love money. We are not to be controlled by money. It should be the other way around.

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2 Platforms that I have tried and doing well so far:

1. Coins.ph - What I like about this is I can take profit from time to time without closing the trade. That way, I can still keep my investment up so that when the rate pumps up, I can take profit on and on. The setback is that when it dips down, I lose profit otherwise I HOLD it until it pumps up again.

2. Etoro - This is high end platform that gives you a holistic view of everything in the trading markets. It also shows complete graphs, stats, research, and all the figures that you seem to know. They also offer copytrading, which I invested on, where you can copy the trading activities of the best traders today. That is if you want to save time or when you are actually not very sure how to do trading.

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Now back to the question, is it good to invest on cryptocurrency? I bet yes but with reservations. YOU NEED TO GUARD YOUR EMOTION.