I lost a lot of money last year trying to day trade cryptos.
There is a .25% fee each time you buy or sell on Robinhood and I was doing many trades per day so I was losing several percent each day just in fees.
I was also panic selling when the price went down in fear of losing too much and that was even more money lost. I’ve learned from those mistakes and now buy and hold long term to avoid the fees and the stress of having to watch the prices and read the click bait news. I could have bought a brand new HVAC system and had it installed for the amount of money I lost last year. One bright side is I won’t need to pay any taxes for last year, so in two months when I do my return I won’t need to be writing a check to Uncle Sam. I probably could have also got the latest zone control with a nice programmable thermostat and a five year service plan with the money I lost. I was bored and stuck at home with the Covid lockdown and was just learning about cryptos and not trusting that they wouldn’t tank so I kept panic selling and losing lots of money. I should have used my energy to clean the ductwork and filters in my HVAC and this would have probably saved me money in not having to buy a new unit at all. I hope that we live and we learn from all or most of our mistakes!