Jonaed Iqbal – Ponder How Much You Can Stomach to Lose When Buying Crypto

<p><strong>BIO:</strong> Jonaed Iqbal is set on shattering the stigma associated with hiring people without college degrees. It is no surprise that he founded NoDegree.com, a platform with job listings that do not require college degrees.</p><p><strong>STORY:</strong> Jonaed invested $800 in Bitcoin when he was in college. He was lucky enough to sell when the price was high and just before it crashed. Fast-forward to 2017, Jonaed decided to use his credit card to invest $20,000 in several cryptocurrencies. He lost it all two months later. He is still paying the credit card debt.</p><p><strong>LEARNING:</strong> Only invest what you can afford to lose, especially when buying crypto. Start small and invest 70% of your money in Bitcoin and 30% in the top three cryptocurrencies at the time.</p><p>&nbsp;</p><p class="ql-align-center"><strong>“Only invest what you can afford to lose and go to sleep at night without worrying.”</strong></p><p class="ql-align-center">Jonaed Iqbal</p><p>&nbsp;</p><h2><strong>Worst investment ever</strong></h2><h3><strong>Buying crypto by accident</strong></h3><p>Jonaed bought his first Bitcoin by accident. A friend who was sort of into shady activities needed some money. He told Jonaed that he had some Bitcoin that he was selling at $34.5. Jonaed called another friend, and together they bought 35 coins.</p><p>This was during the first crash of Bitcoin. Fortunately, Jonaed saw the rise coming. The price rose to $40, then $50, then $70 bucks, and at $120, they decided to sell.</p><h3><strong>Regulations make it hard to sell</strong></h3><p>Jonaed and his friend were trying to figure out how to sell their Bitcoin, but there were many hurdles at the time. Fortunately, they managed to create an account to sell their coins. As soon as their account was verified, the price shot up to $260. They sold their coins immediately. Then Bitcoin crashed three hours later.</p><p>Jonaed made $4,000 from an investment of about $800. He used the money to clear his credit card bills and other student bills.</p