When It’s Time To Invest

Choosing the right way to involve myself with crypto has always been a concern for me. Well, we know that before you start trading crypto the first steps are always to buy a coin you like or hope will skyrocket and make you money.

Not everyone is lucky for that trader's luck. For most people, you have to try and try before you get profits in the business of buying and holding coins. For a few people it’s kind of easy for them to start getting profits right away.

I remember my first buy and sell like it was yesterday. I bought BTC as most first-time traders will do; and didn’t know what to do with it. As I was naive enough to think that all I had to do was just buy the coin and leave it to grow. I had no idea coins had off days too(unfortunately the bears were mostly there).

I bought it and was full of confidence. Well, that hope turned into something else when I opened my wallet some months later and didn’t make a profit but rather made losses. If only I knew; I wouldn’t have touched it, maybe I could have made a couple of bucks on it when the bulls came around last year.

Well, to the topic of investing.

Leverage and spot trading; which is best?

It depends on the trader as I said in the beginning. Not everyone is of the opinion that spot trading is best. Just like me, I don’t see the need to buy a coin and leave it down for a very long time if you can’t own one whole coin. This brings me to the point of not investing in btc if you can’t get maybe a quarter of it to hold.

The price is crazy now which makes it very hard to make decent profits off of it if you are not holding enough. That’s why I like going in for eth. Eth could make you cool profits when it starts to make movements.

Maybe it’s the time of personality I have but I prefer seeing my profits move up and down rapidly rather than just leaving it in an exchange or cold wallet and hoping that it rises if the bulls arrive.

Holding Luna Vs leveraging Luna

Am using the Luna example as I did with the BTC. It’s up to you to choose the coin to invest in but your safest bet is always a coin that hasn’t skyrocketed when it comes to leverage. When you invest 100 dollars in Luna while opening a 5x leverage position it makes it cool. A slight price increase can easily make you 10 dollars.

But when you buy it down at let’s say 1.3 dollars, you will need it to shoot really high in price to make decent profits unless you did get a lot of it.

For me, I will prefer leverage, I know a lot of people will prefer spot trading cause it’s their safest bet but remember you can risk and the reward will be crazy. Think about it before you invest. Your luck might be in leverage so learn to take other investment opportunities.

Note-This is not financial advice