MultiversX Tracker is Live!

Forced to hold ETH

All Cryptocurrencies

by COINS NEWS 198 Views

So, when I first bought ETH, it was still only $1200 and I had no clue what exactly crypto is. I had read somewhere that ETH was good and that I need a non-custodial wallet for cryptos, so I downloaded the first such wallet for ETH that I found (spoiler: it's not MetaMask). The wallet had the possibility to buy ETH directly with fiat, so I just did. Fast forward a few months and my investment had doubled, so I decide to make a binance account, transfer my ETH there and sell it. I open my ETH wallet and am greeted by the message "Network congested - transaction fees are higher than usual". Well how high can they be? I try to transfer to binance, and the tx fee is $120... No way I am losing 30% of my precious ETH, so I decide to wait until the fees get lower...

I am still hodling that ETH because fees are still high and it has now nearly done a 4x... Had the ethereum fees been lower, I would have sold and missed on the near 4x. So I will just continue to hold until ETH 2 arrives.

tldr: Didn't sell ETH cause of high fees, and it did another 2x. Lesson? Holding proves again to be the best strategy. Time in the market > timing the market

submitted by /u/nikobark
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments