How has Crypto impacted my Personal Finance?
My Journey with Cryptos Started sometime back in late 2017. I heard about BITCOIN from one of my friends. They asked me do you know about Virtual Currency? And I was like what the heck is this NOW. I started reading and tracking the price of various cryptocurrencies on coinmarketcap.
See the beauty when I started tracking the crypto market it was like every day the prices of all the crypto tokens were rising 5%, 10%, 15%, and just pumping. I literally saw the price of the BITCOIN increase from $11K to $17K a BITCOIN
Here in India at that point in time, we had only one exchange named ZebPay. I cannot remember the exact price I bought in $1K worth of BITCOIN. But what I do remember is that as soon as I invested the price increased a bit but then started to fall daily. And in no time my investment of $1K became HALF i.e. $500. I had no idea what to do now. So I kept the BITCOIN in the wallet for a long time until I came to know about
STEEM now HIVE.
In between some exchanges did come up and one of them was KOINEX. Where I did open an account and traded some coins. But no luck here as well. At that point in time XRP token was pumping and invested all the BITCOINS I had exchanged them for XRP. Investing in XRP was a wise decision and at one stage I was getting back all my $1k of investment and I could have existed with NO Profit No Loss but you know THE GREED didn't allow me to exit. And then again the dump started happening and I was back to square one with losses showing up.
In between, I was posting on HIVE regularly and came to know about other projects like HIVE, LEO, BNS, GOLEM, BRAVE, VIDYA, Uptreend, LBRY[One of my favorites to date] where I joined their Youtube channel partner and sync. my Youtube channel with LBRY.tv.
Crypto and Blockchain Technology && Personal Finance?
At this point in time, I would say that I started to understand this BUZZ word BLOCKCHAIN better. A lot of reading was involved and I made my picks and started to invest in various projects listed above.
The market swings didn't matter to me now. As I kept on building my portfolio. When I say building portfolio it means I started investing more into the projects I believed IN. It was like if the Price dumped I bought more of the coins from my favorite list.
Have a Coin - Have a GOAL for iT
I did like to set GOALs for myself. And whenever I picked up a coin to invest in I had a GOAL that how far I would be going to invest/acquire those many coins. I had the same GOAL to become an ORCA here in HIVE by 2020 End And I did achieve it.
I had one for LBRY.tv to get 100k LBC tokens And I did achieve it. Most of the LBC coins that I got is via the content posting and syncing my Youtube channel but at the same time, I did invest also.
The other GOAL that I would like to highlight is the VIDYA token - which is a DeFi Gaming token with other benefits for Online Gamers. The GOAL that I had here was to again have/acquire 100K VIDAY tokens and I'm close to achieving this GOAL. So far have acquired 90K VIDAY tokens so should be closing it before the end of 2020
Personal Finances Shifted to Investment In Crypto
The more I got into this space of Blockchain and Cryptos, the more I started investing in it. If I tell you that I didn't cash out a single penny of all the money that I invested or Made in Cryptos. Will you believe me?
Yes, believe it or Not - to date I've been in investing mode. So far I had been just investing and accumulating/building my portfolio. With every fall/dump in the price from my favorite picks - it has been an investment in those coins and getting closer to the target set for those tokens.
Overall, I see crypto and Blockchain as the future. It's the web3.0 and we have already started to see how it's making a drastic change in all of our lives. From giving the control back to the users - Decentralizing to strict security controls Blockchain technology has it all and cryptos is the fuel to it. Hence I see the future where blockchain technologies are going to be adopted by all the businesses at an alarming rate. It would not be wrong to say that the Blockchain technologies are going to disrupt - rather are already disrupting almost every industry and is going to be the mainstream.
Finally, I would like to add is that I see the Crypto & Blockchain as an opportunity that should be able to give me financial FREEDOM. At least I see that light spark/light in the projects that are associated with BlockChains and are fueled by Cryptos. Looking at the various advantages that BlockChain technologies provide and the projects associated with Blockchain and cryptos emerging my belief in Crypto and the technology associated with it day by day get stronger and stronger.
BlockChain && Crypto is the Future - Want to be a Part Invest NOW...
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in BlockChain & Cryptos and have been investing in the coins/projects that I like; that's iT..
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