So I started investing on one shit coin, when ever I receive my salary I divide it into two one for my up keep and the other for my investment, I did this for 4 years and I was so happy because I had faith it will grow as Bitcoin did, one day I checked my wallet and discovered the coin I was investing on for years has dropped I became so scared and sad I asked questions and did some research and discovered every coin fall sometimes and also rise wow that gave me a relief and hope so I continued my investment and same thing happened again I cried, so I stopped investing and started waiting for the day it will rise so I can take back My money and stop, I waited for a year plus and it came up a little, wow I became more hopeful and I decided to leave it a month later it dropped and never came up again till today that was how I lost all my money.
I am not too knowledgeable about altcoins but I have observed that many people don't keep it for a very long time. Most of these pump-and-dump coins are good for short-term trades. Most traders buy these coins and immediately it starts pumping they sell and take profit. Only a few of them should be held for a long time. The best coin to keep as long as you can is Bitcoin because it has stood the test of time.
Then I made a vow never to involve my self in any other cryptocurrency investment, this year I meet my old time friend that was involve in cryptocurrency investment we talk and along the line I told him my predicament in crypto he laughed and told me same thing happened to him years ago but then he said the only coin he now invest into is Bitcoin then I asked him since Bitcoin has grown this big will it still grow he said yes and that accumulating it little by little will be the best and before I know it I would have accumulated as may as I can.
So I just started reflecting on how much I have wasted investing on a shit coin and how far I would have gone if I was investing on Bitcoin for that number of years, I became so sad and full of regret.
You are not alone in this boat. Many people think that the crypto space is a Ponzi scheme or filled with scam projects. The main reason for this perception might be because of past experience or ignorance. I know some people who will never invest in Bitcoin because they think that all cryptocurrencies are thesame.
but i have decided to live the past and start a new journey with Bitcoin this year and right now I have accumulated a little using the DCA method Bitcoin will keep growing so don't give up start a new journey today.
You have made the right decision. just ensure you are consistent. Also, ensure that you keep your coins in a non-custodian. Having an emergency fund will also help you to fulfil your Bitcoin investment plans.