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by COINS NEWS 30 Views

A bit of quick backstory: I'm one of the foolish traders who ended up making quite a lot on futures (around 10k) and subsequently losing it and gaining some debt trying to gain it back around 5 years ago which I'm still paying off.

One main issue has been my IDs have expired from even before all the red so I couldn't pass kyc for most exchanges and was pretty much forced to quit although admittedly I'd pretty much lost everything I had anyway.

I was able to keep buying into crypto on coinbase for a while though so I kept investing and trying to diversify until I was forced to stop due to kyc again. I wasn't able to trade or invest anymore so I left my small amounts on coinbase alone and watched as my they all tanked and went to half their value. I cursed because I knew it was the best time to buy.

Now within the past month, they've all climbed up and are all in the green. It's starting to spark up my interest in investing again (although I might avoid futures this time and just hodl like I've been doing with my CB account the last 2 years. I've never been happier than when I was making money with crypto and for the past 5 years I've been living under my means trying to get by so the prospect of financial freedom has me gripped again. The only problem is that to get my ID renewed it would cost nearly Β£100! I thought about asking my friend and my family but I've actually been the good one with my money; I just got a bit carried away during the bull run and didn't think a downslope was possible but I've learned since then and I'm seeing the benefits of buying and simply holding it now. I expect things to skyrocket next year so I really want to get back into the swing of things and investing small amounts of money to hopefully secure my future and get out of the hole I dug myself.

Here's where I need advice. Do I withdraw the funds that I can while now the market is up? Or should I consider a no-spend period so I can get the funds to renew my ID even though it might mean I can't invest for a few months but I'll be able to keep my portfolio untouched? What should be my next move? It'll take me years to pay off the debt I accrued still 4k to go and I'm on a low income so it's not changing without me taking control.

I'd be grateful for any and all advice. I'm happy to answer any questions too!

submitted by /u/Satanoka
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