I decided to start this blog site to share my crypto investing journey. This post will get everyone caught up on me and how I got into crypto. I was first exposed to bitcoin many years ago when its was in the $6 range. I was working with some buddies on a penny auction site and we decided to check out this weird currency called bitcoin to see if we could use it for payments on our site. We were able to get it working but never used it as at that time the interest was low. We eventually sold it for $9 to continue to fund the site. We would have $1.6 million if we had held!! Not worth losing sleep over at this point. You live and learn.
Let’s move ahead many years now to mid 2016. I continued to follow Bitcoin but didn’t really take a renewed interest in crypto until I started to read about Ethereum. I have a technology background and when I started to read about what Ethereum could do I was immediately intrigued. The combination of the ability to add business logic (smart contracts) and create tokens on the network made perfect sense to me and it wasn’t long before I decided to jump back into the crypto game again. It was clear that Ethereum would become the main platform to allow new crypto startups to launch. This proved true as we see more and more ICO’s launching as ERC20 tokens on the Ethereum network. There are other options now but Ethereum is by far the biggest. I jumped in with with both feet on ETH when it was in the single digits and haven’t looked back!
As ETH continued to rise I started to learn more about other crypto projects and investing in the space as a whole. I was the typical noob starting out buying on coinbase which is a good exchange to start on but not a great one if you want to buy and sell. Coinbase is also very limited in the coins they have (BTC, ETH, and LTC) and so I started to create accounts on other exchanges. I then started to add BTC into the mix as a longer term investment. This also worked out well as it’s grown a lot over the last year. I know it’s hard to believe but even one year ago the amount of info online to learn about crypto investing is tiny compared to today. I had to learn on my own for the most part which was both good and bad. I made mistakes but I also was forced to learn by doing which has immense value. I had to spend my own time researching the space and the different coins in the market. I am sure I could have avoided a few silly mistakes early on if I had a larger community to tap into but I believe it worked out for the best. I look at some of the groups I am in now and can see how lazy people are asking to be spoon fed info and I just know they will fail. You have to be willing to do work to succeed.
As crazy as it seems I am likely somewhat seasoned in the whole crypto space now. I am by no means an expert but I have been around the block a bit now and 1.5 years in this space is a lot of time. I focus primarily on keeping a solid portfolio of BTC, ETH, and LTC now and trading in alts. I would say I am around 30% in alts at any given time. For me personally I believe trading in alts is all about increasing my BTC. It’s the king for now. I love ETH and don’t mess with that other than the occasional swing trade to add more. I do believe there will be some alts that climb the mountain at some point and join the big 3 but nobody is there yet IMO. I know people like XRP but it’s not for me with a total supply of 99 billion coins.
In summary I am learning all the time and love the space. This is a venue for me to write about what I am learning and hopefully you get a nugget or two along the way. Don’t take my advice alone and always DO YOUR OWN RESEARCH!!