My Crypto Journey: Patience Is a Virtue
Main Takeaways
My Crypto Journey is a Binance Blog series showcasing how crypto, blockchain, and Binance have changed the lives of different individuals.
Keep reading to learn about Mphoza’s ongoing crypto adventure with Binance.
Mphoza’s crypto journey started during the pandemic and is not ending anytime soon. Read their unfolding story with Binance 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 Mphoza (not their real name), who believes that crypto, like life, has no shortcuts and is willing to put in the hours to learn the ins and outs of trading.
How They Started Using Crypto
“My life, like many others’, was affected by the pandemic. Crypto is a shot at making things better.” — Mphoza, 43
Mphoza’s crypto journey started during the pandemic. Due to trying times, they joined a company to earn extra income. Unfortunately, the company failed to deliver on its promised benefits.
Burdened by financial difficulties, Mphoza ended up borrowing money to make ends meet. At that moment, they decided to learn how crypto worked in order to take advantage of the financial opportunities offered.
How Crypto Has Changed Their Life
“Unlike many others, my life has not yet been transformed. But I firmly believe that crypto is the future, and I am working towards it slowly but surely.”
There are truly no shortcuts in life — Mphoza is still trying to find the strategy that best suits their trading profile. They even took classes to understand crypto and blockchain better.
If you’re looking for free online resources to learn about all things crypto, check out Binance Academy, a hub of articles ranging from tutorials to in-depth Binance feature descriptions.
Mphoza’s Journey With Binance
“Binance is the best exchange for me.”
Citing speedy transactions and a wide variety of available tokens, Mphoza has been enjoying the trading experience offered by Binance. Apart from trading, they also incorporate Binance Staking products into their crypto approach.
“So far, it’s the only exchange I trust, especially when building my portfolio,” said Mphoza. Motivated by their own trading progress, they believe they are ready to try other forms of trading that may be riskier but may also present more potential for higher returns.
Whether you are a seasoned trader or just starting out, risk management is important in helping to reduce your overall risk. Risk management involves identifying possible financial risks involved in your trades and investments. To learn more, read this article on five risk management strategies you can adopt.
Mphoza’s Advice for Crypto Beginners
“If you’re a beginner, you should manage your risks and trade responsibly,” said Mphoza. “For me, I stuck to spot trading until I fully understood other more volatile asset classes like crypto futures. Be patient!”
Start Your Crypto Journey Today!
Join Binance to take your first step into the world of crypto 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