01-13-2021, 07:21 AM
Last month, I've paid an 83k debt thanks to crypto!
<!-- SC_OFF --><div class="md"><p>I started investing in crypto in 2017 with only a few thousand bucks and a debt that would take about 10 years to be settled. At the time, I couldn't imagine how to get out of this situation and decided to go all in into crypto.</p> <p>Thanks to A LOT OF WORK obviously, a few successful trades, airdrops and especially the daily reading of the Reddit forums (which made me keep hope in the Long Winter), I managed to settle the last debt a few weeks ago.</p> <p>I was inspired by the post from the guy who became a millionaire thanks to crypto, and I'd like to celebrate this little victory with you too!</p> <p>Now it's time to start accumulating again! Once more, thank you!</p> <p>—</p> <p>EDIT: Some updates answering most asked questions:</p> <p>​</p> <ol> <li>Yeah, I paid the taxes.</li> <li>About jumping out in a bull market:</li> </ol> <p>I know, but I couldn't wait any longer... the bank I owed wouldn't open a checking account that became necessary because of a business contract. I have 2 employees depending on this contract. =]</p> <ol> <li>Some highlights of these 3 years:</li> </ol> <p>Please, this is not a financial advice.</p> <p>I started reading a lot about BTC and other top10 coins. Invested in some alts because, for me back in 2017, BTC was also too high at 10-20k.</p> <p>So, I picked up coins with a good product/idea and company/team behind it. Examples are: IOTA, XRP (at least in my first readings), XMR. Because I joined in quite early, I didn't lose money with XRP, for example, but I did with IOTA (because of the timing).</p> <p>In the bear market, I put some money in BTC as well -- monthly, yeah. Then, started to look for microcap projects, such as BOMB, Parachute token, Uptrennd, XIO etc. Making part of these microcap communities is a good way to make some extra and know some good people. Of course, be very aware of scams.</p> <p>Today, I wish I could have done some things different:</p> <ol> <li>Don't fall in love with an asset (and sell or exchange them for profit);</li> <li>Bitcoin is the most resillient coin around, so it would be much less stressful if I had more BTC instead of alts;</li> <li>Don't be too greedy and profit all over the bullrun;</li> <li>DCA is the best strategy, as most of you pointed out;</li> <li>Don't hodl when the bear market starts (these were the longest 3 years in my life lol). I would sell everything back in Q1 2018 to return months or years later.</li> </ol> <p>Thanks for your kind words. And yes, this is why we crypto!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TresLebres"> /u/TresLebres </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kvs4rc/last_month_ive_paid_an_83k_debt_thanks_to_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kvs4rc/last_month_ive_paid_an_83k_debt_thanks_to_crypto/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I started investing in crypto in 2017 with only a few thousand bucks and a debt that would take about 10 years to be settled. At the time, I couldn't imagine how to get out of this situation and decided to go all in into crypto.</p> <p>Thanks to A LOT OF WORK obviously, a few successful trades, airdrops and especially the daily reading of the Reddit forums (which made me keep hope in the Long Winter), I managed to settle the last debt a few weeks ago.</p> <p>I was inspired by the post from the guy who became a millionaire thanks to crypto, and I'd like to celebrate this little victory with you too!</p> <p>Now it's time to start accumulating again! Once more, thank you!</p> <p>—</p> <p>EDIT: Some updates answering most asked questions:</p> <p>​</p> <ol> <li>Yeah, I paid the taxes.</li> <li>About jumping out in a bull market:</li> </ol> <p>I know, but I couldn't wait any longer... the bank I owed wouldn't open a checking account that became necessary because of a business contract. I have 2 employees depending on this contract. =]</p> <ol> <li>Some highlights of these 3 years:</li> </ol> <p>Please, this is not a financial advice.</p> <p>I started reading a lot about BTC and other top10 coins. Invested in some alts because, for me back in 2017, BTC was also too high at 10-20k.</p> <p>So, I picked up coins with a good product/idea and company/team behind it. Examples are: IOTA, XRP (at least in my first readings), XMR. Because I joined in quite early, I didn't lose money with XRP, for example, but I did with IOTA (because of the timing).</p> <p>In the bear market, I put some money in BTC as well -- monthly, yeah. Then, started to look for microcap projects, such as BOMB, Parachute token, Uptrennd, XIO etc. Making part of these microcap communities is a good way to make some extra and know some good people. Of course, be very aware of scams.</p> <p>Today, I wish I could have done some things different:</p> <ol> <li>Don't fall in love with an asset (and sell or exchange them for profit);</li> <li>Bitcoin is the most resillient coin around, so it would be much less stressful if I had more BTC instead of alts;</li> <li>Don't be too greedy and profit all over the bullrun;</li> <li>DCA is the best strategy, as most of you pointed out;</li> <li>Don't hodl when the bear market starts (these were the longest 3 years in my life lol). I would sell everything back in Q1 2018 to return months or years later.</li> </ol> <p>Thanks for your kind words. And yes, this is why we crypto!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TresLebres"> /u/TresLebres </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kvs4rc/last_month_ive_paid_an_83k_debt_thanks_to_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/kvs4rc/last_month_ive_paid_an_83k_debt_thanks_to_crypto/">[comments]</a></span>Kind Regards R