Crypto Gist: From Highs to Lows: Kayla’s Journey in the Crypto Space

Crypto Gist is a series that highlights the stories of real people around Africa around cryptocurrencies. Our guests share their crypto experiences - intro to crypto, wins, scams, losses and lessons. Would you like to tell your story? Don’t hesitate. Fill out this form to share your story.

Hi, Can we meet you? 

I’m Kayla, a psychologist based in Botswana.

It’s fantastic to have you here, Kayla. How would you describe your crypto experience in one word?

I have had my highs and lows, so I’d probably say hysterical. 

Hysterical? That’s new. 

Haha! Hysterical seemed just more appropriate.

Interesting! When did you first hear about crypto?

I’d say about 3 years ago. I might have heard about it in passing before then, but that’s when I got more information on it or, instead, became more aware of it. 

How did you first get into crypto?

As I mentioned, I became more aware of crypto in 2021. I was looking at expanding my investment portfolio, and from then on, I learned about crypto. It seemed interesting, and also 2021 was a great year for cryptocurrencies in general, as several attained All Time Highs (ATH). This presented crypto as an excellent investment opportunity; of course, I did appropriate research and followed the necessary tips.
You know, Do your own research, stay connected to the news, join communities etc. As far as I was concerned, I was set up for success. 

Did that help?

Yeah, it did; I was able to build a diversified portfolio I trusted would generate more profits in the long run. Yet, I wasn’t prepared for what happened next.

What happened next?

Before I start with what happened, let me first say I was biased against those scammed in crypto.

Biased?

I felt it's usually either because they were too greedy; that’s why they fell prey to giveaway scams, or simply impatient, that’s why they made mistakes. I guess it has to happen to you first before you genuinely understand regardless of your education, you could make mistakes.

You were scammed?!

See, I had created a portfolio and was earning profits; how be it minimal, but it was something. I wasn’t actively trading it, and it's not like I had much capital, but my portfolio was set up for success. 

I believe the app I used before I started using Yellow Card was having a downtime. I made a complaint as regards this on their Facebook page. I got an email from their customer support shortly after, or instead, I believed it was from them, and they were keen to help. It didn’t seem suspicious, so I shared some personal details they used to hack into my account and withdraw the entire sum in my portfolio. 

That’s awful! Sorry about that. 

Well, I was hysterical, haha! I felt I was too smart to fall for that, I wasn’t even in a panicked state, so it wasn’t like emotions clouded my judgement or something. It took a very long while to get back from that. I was traumatised, and I could have easily ended my journey there. But I am super happy I didn’t.

How has it been since then?

I took a very long pause to heal from that traumatic experience. However, I saw a fantastic opportunity to join in 2022 with the bear market. That was my opportunity to buy the dip, and I dare say- it's been great.

That’s fantastic to hear, especially considering the losses you experienced.

It wasn’t easy at all. It took a very long while to realise that crypto wasn’t the problem. I will be honest in saying I hated it at first, but I eventually healed and decided not to close my mind to an investment opportunity simply because of a traumatic experience. And, of course, it's been 3 years, so my earnings had definitely changed; I had more liquid funds to invest, and I was more confident in my choices. And I am more careful; in fact, you should see me rescanning every email to ensure it's not from a scammer.

That’s understandable. What would be your recommendations to crypto enthusiasts just getting started in the crypto space?

Well, be wary of scams. Be careful of phishing scams, as bad actors in the crypto space are also evolving their skills. I don’t think you must be reminded to be extra cautious of giveaway scams. However, that’s just by the way. It is essential to remember why you started, as that will keep you going during the lows and, of course, ensure to do your own research and stay connected. With that in mind, I think you are good to go.

Thank you, Kayla. It was terrific to have you here.

My pleasure

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