It may not be the first or the last time something like this happens to us, especially in the crypto world.
In this way, I think we can all learn a lesson for future times if you have not yet done so.
As usual, in my first months, I was looking at projects in Binance Academy where there is a lot of info.
I liked Terra (LUNA) so I bought some crypto. 100 bucks worth.
A few months later and to my surprise I saw that it was worth $1,000 at the time.
I liked the project and I am basically a HODler, but I also needed to change some money, to pay euro debts, so I remembered what a fellow Binance Angel often told us:
"Always collect profits".
So I sold half of it. 500 dollars and left the other 500 in earn.
In some cases, many people recommend selling everything you've earned and leaving only the amount that was invested, so maybe I should have taken 900 and left only 100, right?
But I liked the project so I wanted to keep more than 100 in this case.
The crash came, so that $500 was no longer the $50 I had invested (in proportion) but $1 or less. But I had not lost because I had already sold half of it. That's how I survived.
And yes, I still have some of those renamed LUNC.
When new users always come to the groups asking what currency to invest in, we tell them what I also learned:
"Invest in knowledge first and then you can make better decisions".
And so it has been in my case.
I have only been in crypto for a little over 2 years as a Binance Angel, but thanks to helping users, listening to colleagues, studying and researching, I also believe that it is not a "win or lose", but rather…
"Win or learn".
It is up to you whether the lessons are cheaper or more expensive.
Likewise, with each project, I always review the original idea and what their goals are, but also how they are developing it, in order to decide whether to invest, HODL or to sell it.
In summary, from this experience I take away 4 lessons that I always apply. They are yours if you want them.
"Invest in knowledge first and then you can make better decisions".
"Win or learn".
"Always collect profits".
“Check origin, goals and development of project”.
BTW. Luna in Spanish means Moon.
https://academy.binance.com/en
https://academy.binance.com/en/articles/what-is-terra-luna