What I Learned from Spending $1 on Crypto Every Night for 30 Days (Part 1)
For the past month, I committed to buying $1 worth of cryptocurrency every night at 9 PM. My goal wasn’t to get rich but to explore how consistent investing in crypto could teach me about the market. By the end of this experiment, I had acquired 30 different cryptocurrencies. Here's what I discovered along the way.
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The Experiment: $1 a Night, 30 Coins
The plan was straightforward: buy $1 of a different cryptocurrency each night. My thought was that spreading investments across various coins would reduce risk while giving me a practical crash course in crypto investing. It was a way to test the waters without risking a large amount.
However, the journey came with a few surprises.
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Lesson 1: Crypto Prices Are Wildly Unpredictable
One of the first things I noticed was the extreme volatility in crypto prices.
Some nights, I woke up to see a coin I bought had surged by over 10% within hours.
Other nights, the same coin might drop by the same percentage or more.
The massive price swings meant my portfolio felt like a rollercoaster. Even though I bought 30 different coins, the market's collective behavior often made everything move together, magnifying the highs and lows.
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Lesson 2: Diversification Isn’t a Perfect Shield
I assumed that buying 30 different coins would spread my risk. Unfortunately, this wasn’t always true.
When the overall market dropped, nearly all the coins in my portfolio followed the trend.
Even when a few coins performed well, their gains were often outweighed by the broader losses.
This taught me that while diversification is a good strategy, it can’t completely protect you from the wild swings of the crypto market.
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Lesson 3: Timing Matters More Than You Think
Sticking to a rigid schedule of buying at 9 PM every night was convenient, but it wasn’t always ideal.
The crypto market moves quickly, and there were nights when I bought at a peak, only to see prices plummet soon after.
Conversely, on nights when I caught a dip, the coin often recovered and gained value.
This highlighted the importance of timing in crypto investing. A more informed buying strategy could have yielded better results.
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Lesson 4: The Value of Research
A surprising benefit of this experiment was the opportunity to learn about the coins I was buying.
Every night, I spent time reading about the coin’s purpose, its development team, and the problems it aimed to solve.
While some coins felt promising, others seemed speculative or lacked a clear use case.
This research deepened my understanding of the crypto landscape and helped me think critically about long-term investments.
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Lesson 5: Managing Emotions is Key
I didn’t anticipate how emotionally involved I’d become.
Watching a coin’s value rise made me feel excited and hopeful.
On the flip side, seeing a coin drop immediately after buying it was frustrating.
This experience reinforced the importance of staying calm and avoiding impulsive decisions based on short-term price movements. Emotional investing can be dangerous, especially in such a volatile market.
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What’s Next?
After 30 days, I’ve gained valuable insights into the crypto world. In Part 2, I’ll break down the specific coins I invested in and analyze how my portfolio performed.
For now, here are my key takeaways:
1. Crypto is highly unpredictable.
2. Diversification can help but won’t eliminate risk.
3. Timing plays a significant role in maximizing gains.
4. Research is crucial for identifying
potential long-term winners.
5. Emotional discipline is vital for navigating market swings.
Stay tuned for Part 2, where I’ll dive deeper into the numbers and share my strategy moving forward.
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