My Fair Share of Experience in the Cryptospace: the Good, the Bad and the Ugly
Digital currencies have been making waves for more than a decade now and the chronological evolution of this currencies is an indication that man is a dynamic being and is constantly in a bid to pave way for better living.
The emergence of digital currencies has come as we know to give financial autonomy (giving greater control of assets) to people while removing the hassles that are linked to traditional financial systems.
Just like any new innovation, digital currencies have brought about good fortunes for people and at the same time, any truthful and active investor or stakeholder in the cryptospace must have at one point or the other had some sour stories to share.
This article is an overview of my experiences relating and owning digital assets.
Yeah, for the most part, I have taken good profits from cryptocurrency-based investments. I honestly admit being more reserved about Bitcoin back then in 2009.
The concept wasn’t so clear then and even being a tech-savvy investor, I wasn’t so positive about the future of the coin, I now regret that delay in trusting Bitcoin back then based on the success of the project as of today but I learned my lesson quite fast and I was able to participate in the ICOs and Airdrops of such altcoins as ethereum, Dash Coin, Stellar etc. and I made very good profits that I am still enjoying till date.
Since the signs that Bitcoin would thrive, I started writing articles in my blog detailing its trends, price fluctuations, and major regulatory news, a venture I must confess has broadened m horizon in the Crypto and Blockchain ecosphere. The question of how rewarding this is cannot be overemphasized.
One other great experience I have had in the cryptosphere is in serving as project analysts and trading counselors to guys that reach out to me. It highly intriguing to have the knowledge and to create avenues on how to empower people with this knowledge, wouldn’t you agree also?
My bad experiences, as well as that of many cryptocurrency investors, usually come as a nightmare. I recently participated in an ICO, sponsored by Ethereum Cash Pro and the project eventually turned out to be not as successful as it claims it would thus plunging tons of investors including myself into the loss.
Hundreds of ICOs were launched between 2016 and 2018. And I lost considerably a lot of funds participating in this ICOs.
Many of these ICOs usually come with good promises but eventually always either turn out to be a scam or weren’t able to update their contracts. Whatever the range of cases I won't list here, the losses came so hard and unexpected that they may serve as a pushback for some folks in the cryptosphere.
Complementing my bad experiences include the loss of some of my private keys holding considerable assets and being a victim of hacking of some cryptocurrency exchange platforms that hold my digital assets.
The combinations of these bad experiences summed to form the ugly part of my crypto experiences since I started on actively since 2015.
The description of these ugly experiences can be tagged relatively but from a business point of view, anything that serves as a means of fund drain is ugly enough to acknowledge.
Reading this article, please bear in mind that even the most experienced and or knowledgeable crypto investor is prone to losses in the cryptosphere. The digital currency terrain is volatile enough to affect everybody at different times and in different ways.
My fair share of bad experiences is truly overwhelming but of truth, the good times are making up for the bad times and for this positive balance, I can say the cryptosphere has been worth my while.