Greetings to all the readers here,
Crypto Stories - Losing money in Mining Platforms
There are many stories from my crypto journey that I can share, and I have been doing this in my blogs. Today I am going to share another story of my own, and you can say that this is the story of a time when I was in my university and I was still a student. I was not earning anything from anywhere.
So that was the time when I came across a few mining platforms and they were free to use, so I was mining Dogecoin and Bitcoin, and every day there was a portion, a very small portion of these tokens that used to get mined there. There were faucet websites that I used to use, and I actually earned around ten to twenty Dogecoins in a day, but at that time, obviously, it was not valuable.
But when I started earning from these websites, my greed increased, and I started finding ways to earn more money. That was the time when I found a website named WSL, and there they used to give 1% on an investment, and that excited me a lot because getting 1% a day would recover my investment in the next hundred days.
There was an option to withdraw your money from that platform as well, and at that time, my knowledge was not so good, so I could not verify whether the people were able to withdraw their money from there or not. So I kept thinking about whether I should invest my money in that platform or not.
And maybe God wanted to teach me a lesson, that is why I invested my money there. And you guys might get shocked, or you might laugh at me, because I kept looking at that app for months and months and I used to see that people are getting their payments.
So I was very excited and finally, after I think seven or eight months, I collected enough money to invest, I think it was one Litecoin at that time, and believe me, it was a lot of money for me at that time because I used to save money from what I used to get from my father for going to the university and coming back.
So I put that money in Litecoin, and they used to pay in Litecoin at a rate of 1% of my investment. I used to see it and I used to be happy. I even withdrew money from there once, and after that, I left my investment there for I think months.
Maybe when I saw that my investment had finally recovered, I went over to the withdrawal page, and it was not working. My heart stopped beating at that point because my money was stuck or I did not know what had happened. So I closed the app, I tried to sleep, and the next day I checked again, and the same thing happened.
So the next day when I saw that it was not working, I went over to YouTube and searched about that platform and checked whether there was some withdrawal problem or not. After searching it, my heart stopped beating once again because as soon as I searched the name of that website, there were banners with the word scam, with logos referring that the project is a scam.
That was the time I realized that the project might have run away and maybe there is no way to recover my money.
I used to see that website and the app they used to have for years because my Litecoin used to reflect there. So obviously, it was not there, but it took a long time for me to delete it and forget about that little investment.
Today I have enough money to buy more than one Litecoin, but yes, at that time it was a lot of money for me. A student using his savings to buy Litecoin and then getting scammed, you can just imagine how it might have been for me.
So what did I learn from this incident? I learned that I will never find the easy route to make money, and I will invest in good projects like Bitcoin, BNB, Ethereum, and not go for these kinds of mining websites where they pay me money on the basis of my investment.
But greed is always with us, and I participated in a few more free mining websites where, to withdraw your money, they asked me to invest, and I was so foolish that I even invested in a few more websites.
Luckily, this time I did not lose a lot of money. But yes, I have lost money in mining websites, and I hate them. Even if there are genuine ones available in the market today, I am not sure if I will ever believe in them.
Today when I see platforms like HIVE and LEO, I feel like I should have found them earlier. Because here we have the security of our funds, the tokens are listed on major exchanges, and one can start earning without any investment as well.
That is the thing that motivates me to invest some money in the future and increase my earnings on these platforms. There was a friend of mine who told me that there are crypto cycles and that the entire crypto market will crash in the next one year, and if I want to invest money anywhere, I should invest at that time.
I do not know if he is exactly right or wrong, but I think the market was down two years back and then it came up, and maybe it will go down again and that will be the time for me to buy these tokens and write and earn more money from here.
So that is all for my crypto story today. It was a real life story that happened with me, and I shared it with all of you. I hope you enjoyed listening to it, and if you have any stories, then you can definitely tell them in a blog, mention me, or you can even go down there in the comment section and write there, I will love to read it. This is the blog from my personal life.
Thank you