It may help you understand what is
#dyor Do Your Own Research.
If you just want a quick and practical summary, then go to the other post ^^
https://www.binance.com/en/feed/post/507454
#feedfeverchallenge Here it goes…
I knew nothing about crypto, trading etc.
I´m a translator and NFT artist and have a bit of dyslexia with numbers.
I have been writing how I started and what I did these last 2 years, so here is my summary and conclusions.
Chibi first trading moments. This is what I did.
Years ago I asked some friends about “bitcoin”, their answer:
Be careful, there a lot of scams. -This friend never wants new changes.
So much volatility and speculation. -Oops, this friend works for cybersecurity.
December 2020:
With a travel agency and pandemia, no job, few translations, few money and many debts. What to do with my last money?
I decided to ask a friend that is always up to date with the latest technological developments. In fact, he was the one who told me about crypto, but I didn't remember that.
I asked him for some legal and easy platform: he said Binance.
I wanted to buy some bitcoin at first but I though I had to buy a whole BTC and I didn´t have 20k at the moment. Then I discovered that if I had $100 then I could buy PART of BTC, what it means, some Satoshis. Silly question but this stopped me at first to buy some.
January 1st 2021:
I entered Binance and bought my first Satoshis of Bitcoin in Spot. Just minimum I could. With credit card, immediate, with 2% commission.
I also entered Coinbase and did courses to earn some free tokens.
I entered Etoro to buy some stocks from Amazon, Google, Netflix, etc.
Then I found Binance Academy and started reading about each coin and then decided to invest in ETH because it was on top 3, project etc and BNB as they gave rewards if I use Binance Card. That is why I bought 10 BNB for $300 just to reach the level. I was a bit scared, amount of money was so much at first for me hahaha.
I read about “just invest what you are able to loose” but in my situation I was already loosing if I just left my last money in the bank with my debts. So finally I invested everything I could.
I saw staking for ETH 2.0 so I converted part into BETH. I just wanted to hold that so good.
I read about “not your keys not your crypto”, so I bought a Ledger and a Trezor device and sent my BTC and some ETH there. Then Trust Wallet as there was some staking revenues for some coins.
I entered some telegram groups but there were so many messages so I left and entered several times.
I needed to know price so I found coinmarketcap, BTC was $20k, ETH $700 and BNB $30.
As I didn´t have a strategy I just thought, ok, 30% for BTC, 30% for ETH, 30% for BNB and 10% for other tokens would be a good one. I still do that.
I saw BNB vault and Binance Earn. Instead of Spot I could earn some extra tokens. Easy.
Few weeks later:
BNB pumped from $30 to $90. So my 300 were now x3, 900. WOW! I sold some (convert from Spot, sent to funds and used Binance Card) to buy my computer (yes, still have it), but also as I saw it continued pumping, I bought again.
Also ETH pumped x2 and BTC not so much yet, but it was a happy month.
I learned it was cheaper with bank transfer instead of credit card so I checked how to do.
Nearly all information was only in English, so when I saw about Binance Angels that they did translations, I offered myself to do everything into Spanish.
Coinbase never gave me their credit card and I didn´t like their web, so I closed account.
Etoro with stocks were in loose, so I changed it into BNB. Later on, I closed that too.
April – May 2021
I had the interview to be one of the Binance Angels.
Translations were already done by professional agents, but they needed people for telegram moderation. I just knew what I was doing by myself those first months, but I used a lot of Binance products and as no job, I had plenty of time. And lot of passion about all this new world.
I started helping others but all of them and you helped me a lot as I learned so much these 2 years.
I will tell an example of what I learned.
I invested just $100 into LUNA, I liked the project.
Then when I saw it was $1K, I wanted to hold it, but I remembered what another Binance Angel said when speaking about trading (now he is working for Binance with Affilliates), to just sell some, maybe 30 or 50%. “Sell always something when you have profit”.
As I really needed some money then, I sold half. So I kept $500 for me, $500 there. I gain.
Then the disaster came. I had my 50% and other 50% now has no value, but I didn´t loose, I learned and earned thanks to that person.
And also something very important and that is why I´m also a Binance Angel, it maybe difficult to learn all about this, but really really easy to loose with all those scammers out there. So please…
If it's too good to be true, it's a scam.
Avoid private messages, 99.99% are scammers.
You don´t need anyone, learn and decide by yourself.
That is DYOR for me. Happy HODLING or trading!!!
As I said, from all that I wrote previously, I did this summary:
Chibi practical #DYOR
I asked a friend. But we have to decide by ourselves, right?
I read everything, check and compare. i.e. with Binance Academy, “saint Google”, Youtube tutorials, blogs…
I test with a bit of money.
When I understand something, then I do it, if I don´t understand, then just test. Maybe I win or learn.
I set a strategy. Mine is 30% BTC, 30% ETH, 30% BNB, 10% other tokens. HODL.
Invest only what you are able to loose.
Not your keys not your cripto. Diversify. Some crypto in exchange some in hot and cold wallets.
Sell always some crypto when there is some profit. But I´m basically a holder. Others are traders.
When coin is going down, if I can, I buy. When going up, I sell some. We generally do just opposite when starting, right?
Keep calm. You don´t win or loose. We win or LEARN.
Avoid private messages, 99.99% are scammers.
https://www.binance.com/en/feed/post/507454
Chibi memories: 2 years as
#binanceangels https://www.binance.com/en/feed/post/504805