Crypto Dreams: How I Finally Became a Bitcoin HODLer
• Konstantin Rabin is a finance and technology writer who found out about Bitcoin more than a decade ago before it gained mainstream attention.
• He was initially interested in the cryptocurrency but didn’t think too much of it and let it fly by, resulting in him passing on investing in bitcoin three different times.
• Through his experiences, he learned some key lessons worth sharing with anyone who is still doubting BTC.
My Bitcoin Journey
I am one of those fortunate enough to find out about Bitcoin before it gained mainstream attention. Unfortunately, I’m also one of the morons who saw this opportunity, yet passed on investing in Bitcoin three different times before finally becoming a HODLer. In this article, I’d like to share the path that led me to learn key lessons from my experience that are worth sharing with anyone still doubting BTC.
When I started my first full-time job at an online brokerage back in 2011, I had many colleagues passionate about investments, technology and the progress of the financial world. One friend named Edgar piqued my interest when he explained what Bitcoin was all about and its potential; however, financial health was an issue at the time so I did not invest in it then.
First Missed Opportunity
By 2013 my finances had improved slightly and I decided to purchase some Bitcoins as part of a long-term investment strategy; however, just then China implemented stricter regulations on digital currencies which caused their prices to drop significantly so I backed off instead of taking advantage of the dip.
Second Missed Opportunity
In 2015 after seeing how rapidly Bitcoin recovered from China’s ban, I decided to buy some again; unfortunately due to increasing demand for the coin speculation drove prices up so high that they were well beyond what I could afford at the time making another missed opportunity impossible to ignore anymore.
After missing out on these opportunities multiple times, eventually gave into being a HODLer despite initial doubts due to learning valuable lessons along this journey – namely that: 1)Cryptocurrencies are here for good- no matter what happens their value will recover eventually; 2)You have to be willing to take risks if you want great rewards; 3)Sometimes timing is everything – sometimes buying earlier or later can make all the difference when investing; 4)It pays off being informed – understanding how markets work can help you make better decisions regarding when & where to invest ; 5)Do your own research- don’t rely on hearsay or advice from people without doing your own investigation first.