The discussion or argument about the preferable style to engage with Cryptocurrency is one that has no single answer; nobody can give a one-way answer to because it all boils down on individual preferences and their habit towards investing, saving and trading.
We all have our different experiences and ideas in this regard, however, I'd love to share my own experience of involving in Short-term crypto Trading and Holding cryptocurrency for long-term.
☆ MY SHORT-TERM TRADING EXPERIENCE
SPOT AND FUTURES TRADING
One of the things that opened my eyes more to the world of crypto was when Binance approved my Binance Exchange account after I used my National Identity Number, the slip, for KYC. It was one of my happiest days because it prompted me to take my time to understand how Binance app works. From understanding this, I started reading and watching videos about Trading via spot and Futures, and arbitrage trading. I also worked on the psychological aspect to learn about having Trading psychology. I began learning about how to read the market, the different candle sticks and their patterns, the support and resistance, Trend line and so many things. I also joined some groups where I picked one or two things and added to my little knowledge. It was fun; I lost and gained some times.
THE BSC WAY
Together with being active with Spot and Futures Trading, I joined some WhatsApp and Telegram groups where I learnt some skills in Trading the Binance Smart Chain tokens via Poocoin and Pancake Swap.
I had various Telegram tools/bots that showed the coins that were launched on daily basis. It showed coins that were in the categories of Whitelist, Pre-Sale, Fair Launch and Listing of tokens on Centralized Exchanges, as well. Some of these bots would give red, yellow or green indicators showing how safe this projects were, however, they'll also advise you to Do Your Own Research, as the indicators may not be accurate at all times.
I also joined some call groups on Telegram like Caesarscalls and Travladd among others. It was such a wholesome knowledge, that me writing this now, I've come to appreciate the knowledge I gained, and that which I explored. Maybe I'd jump on it soon again.
Yet, one important thing was that we were only focused on making profit in our trade, whether little or more. The aim is to make profit. We do not care about the project, or what it has to offer, just make profit.
☆ HODLING CRYPTOCURRENCY FOR LONG-TERM GOALS
But on Hive, the atmosphere was different. Only a few people are involved in quick trade with Hive (on-chain), or Leo or other tokens for quick cash. A good number of people are more concerned about growing their stakes, Powering Up and building more dApps. They are more focused on building a strong blockchain that is sustainable for both the present and the future. And this is what I love about Hive.
But, the truth is that both methods or styles have their disadvantages and advantages. I'd love you to share your experiences and what you think about the discussion.
Let me hear what you think in the comment section.
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I AM KSAM
I may not be your favourite author, but you can journey with me to help me develop my writing skills. I am always open to criticism, correction and learning 🥰.
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