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“I lost more than $100K on Luna/UST. What did I learn?”: best tips for crypto investing from AltCryptoGems

Viktoriia Pushkina

Journalist

Sep 12, 2022 at 04:45

AltCryptoGems, a blogger whose photo and name are unknown, joined Twitter in March 2021 and now, in September 2022, has more than 230k followers on that social network alone and 250k+ followers on all platforms.

The blogger talks about trading and has recently started their newsletter AltCryptoTalk. He is also an official partner of Bybit and Binance exchanges.

In the interview for buidlbee, AltCryptoGems shares his experience as an investor, including his biggest fiasco ever.

The claim that cryptocurrency is criminal money must go

I started with crypto in 2016 simply because I earned some money and liked the idea of Bitcoin. In all honesty, I did not have any expectations at all. 

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I deposited that money and turned it into Bitcoin, and that’s how my crypto adventure started. I do think, in the beginning, we heard a lot of it being criminal money, which, I think nowadays, is even less than 1% of all the transactions, so that thought should be gone. 

Now I am an official partner of two crypto exchanges, Bybit and Binance. They reach out to me: you don’t just apply for a partner vacancy 🙂 As for benefits, these are payments as well as invites to specific events, being able to give out merch, etc.

My biggest fiasco in all my time in the crypto industry is Luna

I lost more than $100K on Luna/UST. What did I learn? Even though something seems safe, like UST, which was a big part of my ‘safe’ investments in crypto, it is never safe. Even stablecoins can simply disappear in a few days. 

However, I still think that stablecoin staking is one of the safest ways to make money on crypto — that or simply working for it by doing tasks and getting money for it. For example, completing surveys chasing whitelists and getting a whitelist spot for something.

Ironically, because of crypto winter, I did not lose very much. It was alright as I learned to set aside and sell at certain points. So yeah, it would’ve been better to sell EVERYTHING before the winter and buy back now, but I didn’t lose too much as I set aside money with targets: for example, selling 5% every time the market pumped.

Basically, what I have is this:

  1. I have a goal of % of crypto in my portfolio. For example, I want 20% of my portfolio to be crypto.
  2. If the crypto market goes up and gets above 25%, I sell my crypto back to that 20%.
  3. If the % goes below 15%, I buy more crypto.

I expect we’ll be having a bear market for at least a few more months

I’d say nearing April/May we might see some green. But even if my prediction is accurate, if you have $100 to invest, don’t expect it to become a million within a few weeks, which almost everyone does seem to expect 🙂

Simply take it one step at a time, and try to make $10 with that $100. There you go, you just increased it by 10%. Keep practicing that, and eventually, you’ll do this with $1000s, if not $10ks. 

If you are looking for the easiest way to do it, I’d say chasing gems, spotting them, and buying/selling them at the right time can be pretty effective. For that, you have to be active on Twitter/Telegram/Discord to find out about communities.

As for my rules of investing, here they are:

  1. Never invest more than 15% of your portfolio in one holding.
  2. When your coin does a 2x, simply take out your initial investment and keep the rest as a moonbag — a part you leave wanting to go up or either go to 0.
  3. When that moon bag is 2x/3x again, take out that initial moonbag.
  4. Keep repeating.

Crypto winter impacted the audience’s interest, too — it’s going down

Right now, blogging takes up all my time. I earn money with the ref links/promo, so I guess that pays itself back, but writing good content is highly time-consuming. You need to monitor constantly what’s the hype or what’s news and jump on that. Besides blogging, I invest, long-term hold, trade from time to time, and manage the company/my socials. 

Currently, I have nearly 250K total subscribers on all my channels. I gained it in about 1.5 years, but I don’t have any special tips for promotion. Simply be true to yourself, be transparent, and provide good content. The followers will come after that. 

And be ready for failings as well. For example, crypto winter also impacted the audience’s interest — it’s going down. The engagement is less, as fewer people are buying/trading. 

Being an active consumer of other influencers’ content is also essential. I follow a lot of guys that I post on regularly. If you didn’t do that, you wouldn’t stay up to date with the industry.

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Home » Insights and analysis » “I lost more than 0K on Luna/UST. What did I learn?”: best tips for crypto investing from AltCryptoGems

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