Hello everyone. I am John from Sapravaram, a small suburb in Andhra Pradesh. I belong from a poor family, where everyday struggle for basic necessities has always been very real for me. But honestly, I never stopped dreaming big and even though I have worked very hard to turn my life around and reach where I am today, Bitbns has a small but major role in my success journey.
Before 2003, I used to sell Mirchi Bajjis in my hometown, but then I moved to Hyderabad for some sales job where my salary back then was Rs. 900 (13$) a month. I lost my father many years back so surviving with this salary was difficult.
Life remained the same till 2015 when someone told me about cryptocurrencies and their potential returns. By that time, I had 50k(~$700) in savings which I invested in crypto and on day 1 of trade, the market crashed. I lost around 32k and the rest I sold before I lost that too.
I was shattered but at the same time, I learnt something; that I can’t blame bitcoin for what it is, rather I needed to change my strategy. So I had 18k from earlier savings and somehow managed to accrue 50k more. This time I had 68k to invest, built good experience in trading cryptocurrency trading in the period between 2015 to 2017, focused on multiplying BTC amounts, and succeeded upto some extent, turning 1.2 BTC to 3 BTC, which I achieved mainly through arbitrage.
In 2017, Koinex started and that’s where I sold my BTC reserves to get 1.5 lakhs in hand somewhere around September 2017 and doubled it to Rs. 3 lakhs. By now I think anyone can guess I was a short term trader and not a hodler.
All this while, I traded as per the market opportunities; I was never into specific coins, so I made money wherever I saw opportunities. My strategy was to check different sources and websites for coins with high volume and percentage change and arbitrage in these coins. The highest profit I made in one single trade in my life so far was Rs. 48 lakhs. Also, I recently started yield farming where I turned 3 ETH into 84 ETH with BNSD Farming and made another 2 lakhs in Pancake Yield Farming. In my circle, I was the highest taxpayer in 2018 and got myself an Audi Q3.
Gradually, I looked for other trading platforms which brought me to stock trading, where I lost Rs. 30 lakhs in a trade, so I quit because I felt greater opportunities were there in crypto.
Something I would like to advise to all my friends reading my story is that don’t arbitrage in BTC because confirmation takes a lot time and the market goes off by then. In my experience XRP, XLM, most ERC tokens were good for arbitrage. Also, purchase with just 50% of your investment and observe the volume. If volume is good, then place a 2nd order with rest 50%. For beginners, never panic sell folks. Just keep a stop loss at 8% of purchase price and keep a target point for selling. For this purpose, you can place a bracket order. Have a proper strategy in place even before you visit the exchange.
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