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My First Crypto Investment

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@reazuliqbal
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ยท
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Last quarter of 2017, when the crypto FOMO was at its peak, I made my first investment in Crypto.

I have invested $100 in PROPS token on Republic Crypto. Did I research the utility or future of the investment? Absolutely not. It was all FOMO and a promise of future price increase when I can cashout. Then they had some trouble with the US Fed, they offered to return the investment to the willing investors. But if you don't take refund you'll get 20% more tokens. I chose to keep it invested just to see what happens.

Props Project is owned by YouNow Inc. which I never heard of before that. They are a video streaming website/social media. PROPS was marketed as a token, apps can use to reward their users built on top of the YouNow platform or any other platform that want to use the token. Right now you can buy things to reward your favorite creators. It probably gives you more power like SP does in Steem.

So, Why I invested? Mainly FOMO. The country I live in is not very crypto-friendly. I don't blame it though, it had reasons. Investing using USD was almost impossible at that time. Evey projects wanted ETH, I cannot buy ETH as I did not have BTC. I did not have BTC because It was hard to buy securely using USD at a reasonable price. When I came across Republic Crypto it had PROPS where you can invest using USD. There were some known faces associated with the project. I was very excited. The FOMO was real. The sale period lasted like 20-30 minutes, all available tokens were gone. I was happy seeing this.

Then I came across Steem, tried once but did not get in, tried again after 2 weeks, got this account. Props Projects started ghosting investors. No real updates from them. I forgot about it. Then they sent a few emails to confirm Ethereum address so that they can distribute the tokens. On June 4th, 2019 they distributed tokens to the investors. I have received around 950 of them.

I have not done anything with those, keeping them as is just to see what happens. I don't think it was a good investment, but that might change in the future. ๐Ÿ˜‰

Invest what you can afford to lose and don't invest like me. :)