Learn as much as you can before buying
The past week or so has been madness. every night I’ve been soaking up as much knowledge about crypto as possible. Trying to cut through the hype. In summary this is what I have done or learned.
- signed up on hacked.com for their insightful analyses of ICOs and their recommendations. Yes, I am paying for their gold membership as well. You get access to their private workspaces group chat.
- Looking and researching into upcoming ICOs by
- Joining all their social media including slack and telegram. Often developers are on slack directly so you can ask questions
- Reading their whitepapers
- ICOs I have joined and investigating: EOS.io , Reddcoin,
- Bought as much ETH as I could. Sold some
- Tried to buy into Bancor ICO but miserably failed.
- More reading more articles
- Got approved on steemit. Took about a week to get the account approved. They must be getting smashed with requests.
- Sold some crappy short term positions at a loss.
- Deposited more bitcoin into my bittrex.
- Discovered one of the telegram crypto call groups is an intricate scam to buy a fake ICO. They would post legit crypto signals and then subtly advise to buy into an ICO with low buyin (Arberncoin scam). Shocking.
The more I read the more I am leaning towards LONG TERM HOLDS for everything I buy. I will probably do 90% long term and 10% day trade with my funds right now.
Todays status (after the current ETH dip):
- Deposited 0.638 BTC. Current value 0.65 BTC . About $31USD profit.
- Save more so I can buy more ETH on Bittrex. I will keep putting money into there for long term holds.
- Start a poloniex account which will be my daytrade account. I’m going to start with about $300USD and see how far I can go from there. I won’t be depositing more money into this account.