The Beginning
Although I can’t pinpoint the precise date I delved into investing, my crypto journey has been quite a ride, spanning way back to 2019 when I bought my first Ethereum.
Investing in 2019 was not as cheap and straightforward as it is today. I had to use a trust wallet back then, and the fees were much higher. It also wasn’t as intuitive as it is now on some centralized exchanges. I was a bit of a financial market skeptic, I was also a student, so I just bought some ETH and forgot about it.
My thoughts on Investing
Investing is great, but to me, investing is not the primary prerequisite in becoming financially independent - having a solid savings portfolio is. One mistake many people make is investing when they do not primarily have a constant source of income or some money saved already. To be successful as an investor, I believe in first saving enough to invest. Even if it’s minimal, Investments come with risks, and you don’t want to go broke trying to invest.
Furthermore, I don’t believe that investments are a get-rich-quick scheme. That’s why for me, I put in a few investments and “move on with my life”- I let the market do its thing while I do mine. So if it’s red, I barely ever notice, and when it’s green, I win!
Within this frame of investments, I have gotten more comfortable with taking risks and taking my gains when I can.
Optimizing for the soft life
My biggest break in crypto came from one of my earliest investments. I mentioned earlier that I bought Ethereum in 2019 and forgot about it. I wanted to use my crypto wallet to do a random transaction; then, I realize that I had some money in my crypto wallet, which had appreciated over the period I had forgotten about it. It was such good money with great timing!
Throughout my crypto journey, I have had times where I used profits from my investment to fund “the soft life” - I’ve taken trips and bought myself gadgets. I recently paid for my session with a chiropractor - It was the best decision because my body feels amazing! I highly recommend it.
The truth about investment
Nobody knows precisely what the market will do in the next 3-6 months. There is no defined path to profit from the crypto market, but here are a few tips I would recommend.
- There’s so much going on in the financial market and the real world, you do not have to figure it all out on your own. Make some consultations.
- Don’t invest your rent or any money you need to run your life daily. You’re better off taking out some time to save towards investing.
- Apps like Accrue help you completely automate your investment with minimal risks.
