29th April Update #58: Writing Expedition ✍️,How can cryptocurrencies change your life
image taken from Canva
We all enjoy different types of topics presented for us to choose and write about the same. Just love the topics given by this community for participation.
For this contest I would like to invite @pathanapsana, @dove11 and @sikha12 to participate with me.
When did I came to know about cryptocurrencies?
It was then in 2019 I came to know about what are cryptocurrencies. It was through one of my friends who told me about the same. The first ever cryptocurrency which I came to know was Bitcoin. Having heard about the same I took interest and then ask my friend to invest around 100 $ in to a safest crypto.
So this is how my crypto journey started. I started taking more of the interest about trading and started learning candlesticks and chart patterns to YouTube and Google.
Cryptocurrencies are the growing by day
I remember back in 2019 and 2020 when I first came to know about what is cryptocurrency markets I introduced it with my family but having seen the a negative news about cryptocurrencies my parents got scared and ask me not to invest in the same.
image taken from Canva
I promised them that I will try to trade and invest safely to avoid losses then slowly and gradually when I got a profit of 2x in my investment of Sia coin my parents allowed me to trade in cryptos.
Earlier in India there were very few people who knew about Bitcoin and cryptocurrencies and even the government was not ready to accept cryptos and considered it gambling and illegal.
But now if we see 55% of the population of India knows about cryptocurrencies markets and are making huge profits out of it. Not only in India but in many countries people are adopting cryptocurrencies. In some countries even payments are being made in cryptos like Bitcoin and Eth.
Cryptocurrencies giving much more profits compared to share or stock market
Comparing cryptocurrency markets with stock markets the conclusion I made was I made more money from cryptos then my parents made from stock market. So for me I will definitely love to choose cryptocurrency markets over any other markets and with the changes in technology and growth of cryptos I consider the future of crypto to be very bright.
Not only from investment but even from spot and future trading people are earning decent profits
There are traders who earn decent profit from future and spot trades everyday if learned to manage losses and exiting in proper time after taking the profits.
The only thing which one has to keep in mind is manage the losses and proper entry and exit if trading and futures comparatively there is negligible or less chances of losses in spot trading.
How does cryptocurrency plays an important role and changing the financial condition of a person.
If a person has done investments and Dollar Cost Averaging in cryptocurrencies and wait for the bull run , one can easily make a decent profit of 10x- 15X . So if a person invests say a small amount of 100 dollar he can easily make it 100 dollars during a bull run.
image taken from Canva
Conclusion
By the vast growth of cryptocurrencies and even big businessman like Tesla and Elon Musk etc supporting cryptos this market has a huge potential for brightening up the future.
There are many Nfts and Coins which have changed trader life by giving huge profits. The best part is even country like India who used to consider cryptocurrencies as scam has now regulated cryptocurrencies.
That's all for today , thank you and have a great day ahead
Regards
@monz122