Blockchain Wallet Experiment
Two months ago, Stellar Development Foundation in cooperation with Blockchain wallet launched their second airdrop. Two of our writers decided to do an experiment based on that.
Stellar Development Foundation, a company responsible for Stellar Lumens (XLM), and Blockchain, a crypto wallet provider, organized the biggest airdrop in the world in November last year. We covered that story back then, but we didn’t participate on it. However, when those organizations decided to do the second round of the launch, two of our writers joined the action.
Marcelina and Dawid have become the official owners of XLMs worth $50.However, since it has been an experiment, they dealt with their money in two separate ways. Today, they will share their experience with you. Let’s begin!
Why did you join the airdrop?
Marcelina: Mainly because it was free. I just thought “well, I won’t lose anything and the only thing that can happen is actually earning”. Before this experiment, I traded a little, with small success. This time I wanted to try myself as a hodler. Also, I wanted to test out the blockchain wallet as I heard some rumors about it.
Dawid: For two reasons, actually. First, because it is free. I love free stuff. Everybody does. That is one of the reasons why I got interested in cryptocurrencies. Because of many airdrops, giveaways, etc. Almost every month there is something new going on. Second, because it seemed like fun. I wanted to check if I can be a hodler, try to find out if FOMO actually works on me, etc.
When did you get your tokens and what was your first assumptions?
Marcelina: I think it was at the beginning of May, but Dawid is much better at remembering things like that . I constantly was seeing ads about it on the Internet and in a few different crypto groups on Facebook. So I created an account, thinking that I’ll receive XLM in a few days (some people were saying they had problems), but surprisingly crypto appeared on my wallet the moment I click to claim it. As a true hodler my assumption was just to keep it in the wallet.
Dawid: Couple days after Marcelina did. If I had to guess it was probably sometime around the 12th of May. When I created my account, I said to myself, that I was not going to hold XLM. I traded all of my Stellars for Bitcoin instead. Of course, I had to pay a transaction fee, so I lost a little on that. But I believed that BTC will go higher than XLM. I told Marcelina that I was going to sell my coins if the Bitcoin’s price reached $10,000.
What happened next?
Marcelina: Basically not much. I still had to make a choice if I was going to trust blockchain wallet or if I should move XLM to some other wallet. As I also wanted to check the safety of blockchain wallet, I decided to keep XLM there. I remember that one day when I came to work all happy, because my XLM grew about 25% in value. Dawid’s face, when he realized he forgot about it – his plan to sell his BTC, was priceless, trust me! Of course, there were times of doubt when BTC started its journey to the moon, but I contacted my good friend-trader and due to his advice, I didn’t swipe XLM for BTC.
Dawid: I made probably the most common mistake as the crypto beginner. I forgot about it! I had a busy schedule in May and June, and I completely forgot about my cryptocurrencies. Because of my lousy memory, I didn’t sell my coins when BTC was worth $10,000. I didn’t sell them when the price was close to $14,000.
What do you plan to do now?
Marcelina: Well, the same as I was doing up tipo now. HODL. And I mean, not for just a few months, but actually counting in years. Only if I cross the line of 100% additional income, I will ask myself that question again. Really, I have too much on my head to check the price daily or, even worse, a few times a day.
Dawid: I will definitely wait. I said that I would sell them at the $10,000 level, but now I want at least $13,000. Right now, my bitcoins are worth $88,10 (2nd July).
I have become a hodler, after all. I want to make more than twice of what I had at the beginning, so I will wait. Grow my Bitcoin, grow!
So that’s it for now. Our writers fall into the “hodler” trap. Will they manage to escape it and will they make a solid profit? Or are they going to lose all of their funds? Whose decision was better? Was Dawid right to transfer its XLMs into BTCs? We shall find out after some time, or if anything happens, we will update that story.
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