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 several trades per day so I was losing many 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 l received from those mistakes and now buy and hold long term to avoid the fees and the stress of having to watch the prices and study the click bait news. I could have purchased a brand new Heating, Ventilation and A/C 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 2 weeks when I do our return I won’t need to be writing a check to Uncle Sam. I really could have also got the latest zone control with a nice programmable thermostat and a many year repair system with the money I lost. I was bored and stuck at apartment 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 our energy to wash the air duct and filters in our Heating, Ventilation and A/C and this would have really saved me money in not having to buy a new unit at all. I hope that every one of us live and every one of us learn from all or most of our mistakes!