The crypto adventures of LindaCrypto, a historic breakdown of my crypto journey

Sleep deprivation, an internet addiction, fluctuating emotions, and a constant state of FOMO are just a few of the conditions I inherited since becoming a fulltime crypto ‘enthusiast’. I have absolutely no regrets of quitting my job to devote myself to becoming a fulltime cryptocurrency project researcher, investor and writer.

A lot of times I get asked the question: ‘How did you get acquainted with Bitcoin and other digital assets?’ Before I tell you, I want to state that this article is absolutely not intended to gloat about my earnings, because to be honest I could have done a lot better. I have made a lot of rookie mistakes, but I cannot complain about the overall outcome. By writing this article I want other people to learn from the mistakes I made since entering the digital asset world.

It all started at the end of 2016. At the time I had a fulltime job as a rental agent and customer service employee in the social housing sector. The company I worked for specializes in affordable homes for elderly citizens on a budget. While I really loved interacting with the elderly and assisting them with all kind of issues, it did weigh on me that it was more work than I could handle. Added to the fact that traveling to and from work usually took me around two hours a day, I finally decided to send in my resignation at the end of June 2017, without any future job lined up. After the four weeks’ notice I said my goodbye’s to my lovely colleagues and wandered off into my new world called, crypto 24/7.

The funny thing is that I actually make a lot more hours now working in the crypto industry, because the cryptocurrency markets are continuing 24/7 and there is always something going on; but for some reason it doesn’t feel as stressful as my previous job. I really like devoting my time to this relatively new, high energy, dynamic industry.

How it all started

While looking at options to invest some of my savings, because the interest on my savings account had almost turned negative, I stumbled across the digital currency called Bitcoin. In the past I had already heard about people getting rich for investing in Bitcoin at the beginning, but I always thought I had missed the space shuttle launch that could take me to great heights. After researching Bitcoin, I discovered the technology behind it with the endless possibilities and over the course of a few months I was starting to believe in it more-and-more. I started investing at the right time, just as a new bull market started. I soon discovered altcoins and started investing in those. I remember buying Ethereum at $11, DASH at $10, ETC at $1,17, LTC at $3.50. If only I had just HODLed!! But at that time I took way too much advice from some self-proclaimed Crypto-Experts and I overtraded. I only discovered that months later when I found my initial investment spreadsheet and it hit me, I shouldn’t have traded but just HODLed. A lot of potential profit vanished in thin air, but luckily there was enough profit left for me to make a 25 X on my initial investment during the year 2017, if only I sold it all at the top……

What I learned is that HODL is done in a bull-market or when investing in Bitcoin for the long term and selling should be done after a steep price incline preferably at or near the top, which sounds super-easy but in fact it is not.

My crypto journey took me into the miserable world of ASIC-mining at a colocation, it got me into high-risk high-rewards ICO investing and it allowed me to make a passive income with masternodes.

Mining

Last year I bought ASIC miners and tried mining at a colocation, which failed miserably and I won’t recommend it to anyone. The first company I started out with, GigaWatt, made a big mess of their organization, had postponements all the time and sold their equipment at a big premium. After waiting for forever to have my miners set-up I decided to take my dust-collecting miners elsewhere. I had found a new mining colocation from someone that had just started and he was taking on new clients. After I did some research about the company and talk to other customers, I decided to jump on board and sent him my miners. The company was called Rektmining and after I shipped them my miners, needless to say, I too was ‘Rekt’ with mining. Do not, I repeat do not mine at a colocation if it is not near your personal location, because they have all the power and they will use it against you.

ICO investing

Besides investing in top rated cryptocurrency projects when I just started out, I also discovered ICO investing. While you can only lose 100% of your initial investment, the potential gains can go through the roof. At first, I did not invest in the best projects, but rather in, hyped up, massively shilled, shitcoins. The first ICO I invested in was Humaniq after that I invested in Football Coin, GigaWatt, Hubii and Skincoin, which I consider my rookie mistakes.

After I had the ability to focus on new, potential ICO investments fulltime it went a lot better and I managed to invest in a lot of profitable projects. ICO investments that followed were: Kyber Network, ICON, Wan Chain, Apex, WABI, Cindicator, Insights Network, Bread, Qlink, Gifto, Trinity, Bluzelle, Zebi, SelfKey, Edenchain, Fantom, Telegram (don’t judge), Current, Atonomi, Sovrin, Blockcollider and a few others.

Before the top of the ICO bubble I had never seen so much madness by people wanting to get into hyped up ICO’s. Every ICO launched at Binance’s ICO LaunchPad sold out in seconds. Gas wars began to take off, with investors sometimes paying thousands of dollars in fees to be able to buy tokens, with no absolute certainty they were able to succeed at the transaction.

People had to do outrages things in order to be able to participate in an ICO. Potential Quarkchain investors had to go through great lengths in order to get a tiny public sale allocation. They had to pass a quiz testing one’s knowledge about the project and write a technically sound article about Quarkchain’s underlying technology. Only if they passed both requirements, they got entered into a lottery where they had a slim chance in winning an allocation to take part in Quarkchain’s ICO. The people that actually ‘won’ got a tiny allocation in the public sale, which later turned out to be quite profitable for investors selling on the first day of the token launch on an exchange.

But now the tide has changed and a lot and ICOs have a hard time keeping their head above water and keeping the token liquidity up. I feel people in the cryptocurrency industry start to rebel at ICO projects for selling vaporware whitepaper ideas.

Masternodes

I have bought masternode (MN) coins and setup the nodes. Luckily, I was able to buy a Polis masternode in the first week they came out and it turned out to be very profitable, even during the bear market. Polis is one of the very few masternode projects that wasn’t abandoned by its anonymous developers, but recently it has started a deep decline in price and volume. Masternode coins that focus mainly on being a masternode were the first coins that were hit when the bear market started, with most of them plummeting from being worth thousands of dollars per masternode to a few hundred dollars in a couple of days. Just before they collapsed I witnessed a masternode auction for a new project called Advance on Discord. The 5 masternodes sold for an average of 45,000 USD, those were presale prices as they weren’t listed on an exchange yet. In a matter of 3 days it went from 45,000 USD per MN to 8,000 USD per MN and over the course of a month the price took a steep dive below the 1,000 USD mark per MN. I dislike saying it but other than a few of the established projects like DASH, PIVX, PHORE and Zcoin, masternode coins are pretty trivial. As a reference just look at masternodes.online that lists a lot of masternodes to analyse, 350 out of 388 coins have no trading volume at all. At this time I strongly advice against investing in a masternode, considering the current bearish market conditions for similar projects.

Goal

My ultimate goal is to help educate other people about blockchain and cryptocurrency. I want to warn them about the pitfalls and the scammers. A couple of months back I started writing about blockchain and cryptocurrency and I was surprised how much I enjoyed researching and writing about various blockchain projects and topics. I have received some great feedback from people that have read my articles and I am always looking to improve, to become a better writer.

If you want to work in the blockchain and cryptocurrency industry, first figure out your strong suits and then educate yourself some more and go for it. This is a fairly new, quickly evolving and highly dynamic industry, it will make you tired, but at the same time it can also give you a lot of energy, in short get ready for an intense rollercoaster ride.

After one-and-a-half years in this industry I have went through a lot of exciting adventures. Looking back I still don’t fully comprehend the craziness in this industry. I truly believe in a decentralized society at some point in the future and I feel blockchain and digital assets will be intertwined into our daily lives in a big way. Blockchain and digital assets are here to stay. I am happy to be part of this community and I hope you’ve enjoyed reading this article about my own personal crypto-experiences.

If you have any questions, please let me know in the comment section below.

With best regards,

LindaCrypto

Blockchain and cryptocurrency content creator. Writing for | Hacker Noon | The Startup | Good Audience | Blockdelta 📧: lindacrypto@ziggo.nl