I really don’t know a lot about the cryptocurrency market, but that didn’t stop me from trying to make money from the whole industry.
My first foray into this type of investment was Litecoin (LTC). Oh, who am I kidding it was gambling, and I knew it. I bought LTC in the $50-60 range, and within a couple of months, it went as high as $340. I keep playing in my head if I was smart enough I could have made 7X the amount I was investing.
I first heard of Bitcoin, which was the first cryptocurrency back in 2009-2010 I think. And people say $100 invested back then would be $100M at the height of $15,000 for BTC. I remember hearing about BTC on National Public Radio, and I completely ignored the news story. The crazy thing was I was talking to friends about a need to have an alternate monetary other than the American dollar. So definitely kicking myself for not listening to myself and research BTC back then.
Buying low and hopefully selling high, really high someday. That’s down the road maybe 5 or 10 years from now. I’m definitely thinking off on the horizon. I have a specific dollar amount I want to hit before selling, so if it reaches my goal in just a few years, I’ll probably sell out.
Currently looking into two cryptocurrencies that are well under $10. One is actually in pennies range. I won’t mention what they are in case someone jumps in too and loses their money because of ones I choose.
I hope to become a millionaire with these coins. Everyone needs a dream off on the horizon I think. Helps to keep things exciting, at least for me.