Written by Luciolle24, edited by Planet Zuda Staff
My First experience with Cryptocurrency, bitcoin and doge
So… Today we’re gonna talk about my experience as a new user to crypto.
Last time, after I did a job writing about cryptocurrency, I was paid in a new crypto currency called DOGE. It was my first experience with crypto. I recommend you take some time off to set up everything correctly, which I, of course, did not. It came back to bite me later, I figured out many things I could have figured out before.
During the first few days I just watched the amount of money from DOGE slowly go up until I made a few bucks. I waited for the perfect time and sold my DOGE for profit. That’s when the first beginner problem rose: what to do with the money ? I couldn’t easily withdraw it because I sold in USD (not my country’s currency). I bought some other crypto currency, mainly BTC, ETH and a few esoteric ones. That’s when I realized that crypto currency, especially as a beginner requires something : Time! Which I didn’t have a lot of.
As a new user I had no clue how the market worked and found myself really scared of losing everything. I was changing cryptocurrency often, which was scary as the price could fall. All while attempting to predict a market I had no clue about. I feel like that was my second mistake : I went into crypto with little to no knowledge on the subject. Now feel like I know more than most. I probably lost a lot by doing stupid rookie mistakes.
My advice to newcomers to cryptocurrency whether it be dogecoin or anything else?
- Do your research!!! (don’t jump in with no clue about the value of certain coins…)
- Don’t always go for the big coins : Some small, not so well-known coins can also win you money.
- Only use money you won’t need because It’s really hard to withdraw. You can lose everything if you’re not careful.
- Do your best and if it feels to stressful take a break, loosing 0.00001 dollars isn’t going to kill you.
- Don’t aim for huge rewards, you’re not a professional, aim for a little profit and build up from there.
In the end I think using cryptocurrency is a good alternative to PayPal and Cashapp, you just have to have enough time, live in the USA and do your research. Editors note: Living in the USA is not required for use of cryptocurrency or dogecoin, but with some exchanges it is easier.
Have a good day and trade well!