Trading Crypto on Coinbase with 0 Experience (a.k.a. My Experience)

Please note that prices shown here are estimates and are not precisely correct.

Nevertheless, I decided to go with it. I didn’t really have anything to lose since the money I was using was what you could call ‘extra money’. I decided to mainly buy Bitcoin after studying the current and past price chart in a little more detail.

If I remember correctly, I bought around thirty euros worth of this currency when its price was around 7000 euros. About a day after that, the price dropped to the 5000s. You can probably imagine how I felt. Yes, I was not trading that much money so it didn’t have a very big impact on my balance, but still, it did have an impact. I’m not used to those changing numbers since a regular bank account doesn’t have these kinds of fluctuations.

I decided to just wait, and do as every trader in the world preaches. Luckily, soon after this experience, the price climbed up to around 7500 euros. I thought that was cool because I saw my balance rising a bit. I promised myself I would sell my Bitcoin as soon as the conversion fee by Coinbase was covered, being 1,49 EUR in my case.

I didn’t want to go further because this was me trying out something new for one, and because I did not want to be greedy. Call it superstition, but I thought that by being greedy prices could just drop and I would be left with what I started with, or less.

To my great surprise, a week or two after this Bitcoin’s price climbed to 8000 and even to 9000 euros. Since I was following this rule about covering the conversion fee, I told myself I would wait until the price hit 9050 euros. By that time I would sell and be happy with what I earned. I told myself I wouldn’t feel bad when prices climbed even further, which they didn’t really do.

I achieved the goal I set for myself. I covered Coinbase’s conversion fees and thereby earned a bit of money. Furthermore, I stepped outside of my comfort zone and tried something new.

I find myself still thinking about trying again. Should I withdraw the money I just earned? Or should I just leave it there, wait for cryptocurrency-prices to drop and then try again? Maybe my never-ending curiosity to gain new experiences will get the better of me again, because what’s there to lose, right?

I’d like to just take a closer look at this sentence: what’s there to lose? Try to think of this when you’re deciding on something in life. Whether it regards your financial life, lifestyle, or future, separate both positive and negative possible consequences and dare to try.

As simple as this story is, it still proves that sometimes it’s worth taking a certain risk in order to try something new. Be brave, because the whole wide world out there is trying to be as brave as you are.


What do you think?


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