I’ve recently entered crypto, officially. Got a Binance account now hehe. Unofficially I started with a P3k sent to Doy to invest for me, last May 2021. That P3k is now worth P20k+. Salamat to my friend Doy hehe 😄.
Hopefully, will be able to cash-out this investment soon once it hit the target return. We’ve earmarked the proceeds to buy important baby stuff.
*In investing, start with a goal in mind and once the goal is achieve, follow through with the action plan.
Why it took me so long to engage in crypto on my own? Because crypto is a very volatile, high risk investment instrument so I was hands-off of it until I get to learn a bit about it. Thank you Doy and Youtube!
*Do not go in blind when it comes to investment. Learn. Learn. Learn some more.
Is crypto for everybody? NO. Why not? Your capital can get wiped-out in an instant. My P3k is maybe P20k+ today, tomorrow it could fall to less than P3k or yes, even P0.00.
So what am I saying?
If you have a low-risk appetite,
If you do not have the mental toughness to deal with price movements – especially the downward spirals,
If you do not have extra money that if placed, won’t hurt your finances if in case all of it is gone,
If you only feel comfortable in investing in markets with governing bodies / authorities, ( crypto is decentralized, you are on your own, there is no authority to run to for help if you get hacked, scammed, etc. ),
If you do not have the time to learn about this crypto world,
then this investment vehicle is not ideal for you.
Example: if Doy have chosen to placed my P3K in SQUID, my investment will be P0.00 now. *Just recently this coin got rug-pulled. The founders took all of the $2 Million+ investments of customers / coin-holders and disappeared.
There are ways to mitigate the risk in choosing what coins to hold / buy for trade, yes, but still nothing is 100% fail-proof.
My plan moving forward is if we’ve got new extra funds, we’ll take 15% of that and put in cryptocurrencies.
Here’s hoping these new investments will give a thousand, a million times returned. Oh, and in case you want to sign-up to Binance, here’s my referral link.
Or when you download the binance app, during registration enter this code: TJ4UEF3I
If you sign up using my referral link, I will get 10% of the base commission rate, YOU will also get 10%. Win win!
But please no asking me how to start, how to fund or cash-in, how to do p2p, etc or what coins to buy, I’m still very new to this and doesn’t have the confidence to recommend yet. In fact, I still have to learn about Trustwallet, metamask, hard wallet, staking, etc. Let’s do our own due diligence and research. Youtube is our friend.
Again, with crypto, at the gist of it – you are on your own. Learn as much as you can. The potential upside to all this is that new wealth can be created for you and family. That’s what I’m hoping for mine. Cheers to new opportunities!