Revealing the 2 coins I bought by mistake but gave me profits!
One of the biggest mistakes you can make in the cryptomarket is buying the wrong coin at the wrong time. The market is incredibly volatile, and your portfolio can take a massive hit if you aren't careful with your investments. But what if you buy the wrong coin, at the right time?
Today I will be showing you 2 coins that I bought by mistake. Purely out of my own incompetence. Had I been more calm and collected, I wouldn't have made these mistakes. A little bit of FOMO is also involved. Honestly, FOMO is always involved. Once your emotions are involved, you can consider yourself royally forked.
When you buy the wrong coin at the wrong time a lot of things can go wrong. For one, you have lost your capital which would be pumped into buying something you were assured to give you a return. Instead, it is now put into a coin that you are not as confident in. On one hand you can see your dream yacht taking off, and on the other hand you can see the holes in your pocket getting bigger. Depending on the size of your investment, the wound will be more painful.
But the crypto market is incredibly volatile, right? So, there might be a guardian angel somewhere in that volatility. I like to call my guardian angel the "Lucky Bull". My guardian showed up this time. I bought 2 coins by mistake and the Lucky Bull did its work.
Wrong coin, right time. Lucky Bull is really at its prime during the bull run. The market is very forgiving. Generous, almost.
Here is the first coin, where I made my first mistake.
AAVE.
Around 2 or 3 months back, I had been spoon-fed a lot about this defi coin. A bunch of mates bombarded me with the potential of the coin, both as a project and arbitrage. Sooner than I knew it, I was in. I wanted in. The coin is now $400+, back then it was somewhere around $100-$200, and I was ready to get a bag of it.
I went into the exchange, put my money where my friends' mouths were, and count my profits. Due to human "technical issues", like accents and skimming of words, I was left unsure about the ticker. I went into the market, didn't check the current price and simply fed in the amount of AAVE to buy the coins.
Lo and behold, what I had bought wasn't AAVE, it was AVA. Looking back, it was a rookie mistake. I should have confirmed the ticker, I should have double checked the prices, and then made the purchase. But the Lucky Bull helped me. I am now holding a big bag of AVA, and innovative and incredibly high-potential coin. Not only is the price very friendly to me due to the bullrun, but the project itself is very profitable.
Moving to the second coin, which isn't as much of a happy ending as the AVA coin story. It still is good, just not as fancy.
Similar story. I am in a conversation about potential coins. I get hooked on plenty of the coins. I have learned nothing from the AVA situation because I was left unpunished. I am looking for new investments.
So once again I find myself in the exchange. Like a machine with no emotions. I go around the market going on a rampant shopping spree like a 9-year-old with his piggy bank savings in a candy shop. Throwing money into coins like a madman.
I then go back to my friends with a smile. I start reviewing the coins I just bought, and one coin stands out. CTXC. None of my mates seemed to know it. And at that moment, I realized, I had done it again.
I argued that someone had mentioned it. But everyone denied. We tried to look for a coin with a similar ticker and find out what coin was I really supposed to buy. We never found the intended coin. However, I am still left with a bag of CTXC, a coin of which I know nothing.
Due to my disappointment, I never looked into the coin. So far, it seems like it has reached its ATH. Yes, I bought it in a really good time. I am more than happily in profit right now. But you know, the bull run hasn't really started. I wanted to exit this coin as safely as possible, but now I am thinking I might just hold it for a bit longer.
These were the 2 coins I bought by mistake. Wrong coin, right time. Since last year has been a good time to invest. Almost every coin has been seeing a good green candle. I won't recommend anyone going and buying random coins in the market without calculating the risks, but it has worked for me in these 2 occasions.
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