Like most, I thought Bitcoin was a scam when it came out. But over the years, heard stories about how young people have become millionaires over a short period of time. After tracking the price, I decided to take a gamble and buy Bitcoin. I signed up with Coinbase and learned about Ethereum and Litecoin. Seeing additional currencies only confused me more and not knowing what to do, I purchased a little bit of each. My plan was to treat it as a high risk gamble and forget about it. But I took a peek from time to time, learning that only a few weeks after, all three coins had lost nearly 50% of their value. Seeing it as an opportunity, I took another gamble and bought a little more of Litecoin. Why Litecoin? Because it was $40 per coin at the time and I saw more growth opportunity in it. Another few weeks later, all 3 coins are back to where they were and I was now in the positive, thanks to my second Litecoin purchase.
These coins continue to rise. Bitcoin crosses the $5K mark, then $6K, then $7K and so on. Now I'm getting greedy and realize that even if Bitcoin becomes $20K, it won't change my life in a meaningful way because of my small investment/gamble. I begin to do more research and find out that there are over 1300 cryptocurrencies out there. Mind blown!
My obvious next step is to find a few with the most potential to be the next Bitcoin or at least the next in line. I decide to buy Ripple and Cardano, which under twenty-five cents at the time. Within a few days, Cardano goes up 400%, Ripple does next to nothing and remains flat. Disappointed with my petty cash gains, I seek out more coins. Again, I don't know what to pick. I decide on STEEM. It has gone up and down since, but overall, it's up about 25%.
While all this is happening, I'm tracking the coins I considered, but couldn't buy, some of which are also doubling and tripling. Sad face! Bitcoin continues to climb and today it passed $18K, then settling back in the $16K territory. My Bitcoin now has a 400% return.
Long story short, I know this pace can't continue; and yet, I continue to hope for the ones I own to go higher. I know nothing about Bitcoin a month ago, now I own 6 different cryptocoins continue to research others. I'm keeping my fingers crossed that this gamble pays off.