My Crypto Journey: Experience Is an Expensive but Valuable Lesson
Main Takeaways
My Crypto Journey is a Binance Blog series showcasing how crypto, blockchain, and Binance have impacted the lives of different individuals in Africa.
This story is about how one Binance user learned from every single crypto trading mistake to eventually become a successful crypto trader and NFT creator.
Getting burned in their haste to earn crypto did not stop Visiblemoney from trading. Read about how they became a digital nomad in this edition of My Crypto Journey.
My Crypto Journey follows the lives of different African individuals whose lives have been, in one way or another, improved by crypto, blockchain, and Binance.
This is the story of Visiblemoney (not their real name), who views their mistakes as lessons that helped them carve a successful crypto career.
How They Started Using Crypto
“It was after I registered with Binance that I stepped up to learn the fundamentals of crypto trading, including using indicators and crypto news, all of which have been instrumental to my success story today.” — Visiblemoney, 42
42-year-old Visiblemoney learned about cryptocurrency while working as a taxi driver in Abuja, Nigeria. As it was a relatively new and exciting concept, the subject intrigued them. However, they did not actively pursue their interest.
And then in February 2016, they experienced a terrifying head-on collision with a building. Thankfully, they escaped unscathed, though the accident badly damaged their vehicle. They then decided to start learning about Bitcoin and crypto in earnest.
In 2019, Visiblemoney discovered Binance and decided to start spot trading. Upon becoming a Binance user, they devoured all forms of crypto trading knowledge, including technical trading with indicators, advanced price action theory, fundamental analysis approaches, and how to develop personal trading strategies.
How Crypto Has Changed Their Life
“I’m living the dream of millions – crypto has allowed me to become a digital nomad!”
Using crypto trading as an extra stream of income, Visiblemoney has now become self-sufficient and financially independent. Due to the decentralized nature of crypto trading, they can make money anywhere in the world, living the digital nomad life many dream about. “If I travel to countries like Malta, where they issue NPR Digital Nomad VISAs to immigrants, I can easily continue trading crypto for a living,” they said.
Besides spot trading and participating in decentralized finance (DeFi) markets, crypto has also allowed Visiblemoney to tap into their artistic talent and create NFTs loved by their fans.
“To be free to explore my hobby without worrying about finances is extremely liberating,” they said. “I am incredibly grateful to crypto for changing my life,” they added.
Visiblemoney’s Journey With Binance
“My crypto journey would have been much smoother if I had found a mentor while starting out.”
Despite their current success, Visiblemoney’s crypto experience was not always rainbows and butterflies. Behind their success is a sincere effort to improve with each failed trade. They experienced repeated losses of their trading capital because they attempted spot trading while they were only familiar with P2P trading.
They said, “Losing money is definitely unpalatable, but it has helped me hone the right mindset when trading.”.
It was only when Visiblemoney started acquiring more knowledge from sources on YouTube and Binance Academy that they became more adept at trading. Thanks to Binance’s straightforward interface and community support, their crypto journey started looking up, and the rest was history.
“Binance provided the most robust trading platform accessible on the web and on mobile applications. I do spot trading on Binance weekly and participate in campaigns and referral events.
Elaborating on how Binance has helped them on their crypto journey, Visiblemoney said, “Binance is very transparent and cost-efficient. I can even leverage the simple lending and borrowing Loans feature to increase my trading positions.”.
Visiblemoney’s Advice for Crypto Beginners
Newbies should start with crypto fundamentals and pay attention to details.
Familiarize yourself with Binance’s trading interface before committing any money to spot trading.
Join the Binance community like I did to learn from veteran traders outside your social circle.
Use credible sources like Binance Academy to research tokens and projects before committing any funds.
Start Your Crypto Journey Today!
Are you inspired by Visiblemoney’s story? Sign up for a Binance account today and broaden your crypto exposure today.
For more information, please visit the links below:
(FAQ) Binance Beginners Guide
(Academy) A Complete Guide to Cryptocurrency Trading for Beginners
(Blog) Why and How to Do Your Own Research (DYOR) When Investing in Crypto