Topic: $20K to invest in coins - Where to start? (Read 534 times)
Let him do his own research - this is the best possible way. Never FOMO. Someone would say buy a patreon subscription of some successfull trader but I did not my first investment (that ended up in a total loss) based on personal analysis and I'm still happy that I had that experience.
$20,000 is a good start, I suggest you start buying Bitcoin now because it's still making more bullish trends. Except you are ready for the tudious research that comes with other coins then I would suggest you stick to Bitcoin for now. Make the profit with other investors before going to get other coins of lesser value which has made tremendous breakthrough in the market like BNB, or Dash
...
I Would not go all in with the 20 k
I would spend 1000 every 2 weeks.
...
hodl
hodl
hodl
hodl
took you 40 weeks to buy at 1000 every two weeks.
hodl for a minimum of 160 weeks.
make an assessment then.
Just a point. Doing DCA is only good if you are not psychologically strong enough. If you are able to withstand sharp market declines (or rises), it either makes no difference or you are even better off putting all your money in as soon as possible.
Let's assume bitcoin is going to go to between $100k and $200k in this cycle, $1M in the next cycle and much further in the cycle after that. If this is the case and you invest for the long term there is not much difference between you investing $20k today or investing $1k every week.
my advice Is very simple:
buy BTC, ETH and BNB for long term.
and remember that the price of altcoins in relation to bitcoin has not risen much and if by some disaster the price of bitcoin has dropped (something that I consider impossible to happen) the price of altcoins in relation to dollars will fall a lot, but it can also happen the case of years going by without the price of altcoins increasing a lot in relation to bitcoin, in which case you will make a profit only if the price of bitcoin increases.
buy BTC, ETH and BNB for long term.
and remember that the price of altcoins in relation to bitcoin has not risen much and if by some disaster the price of bitcoin has dropped (something that I consider impossible to happen) the price of altcoins in relation to dollars will fall a lot, but it can also happen the case of years going by without the price of altcoins increasing a lot in relation to bitcoin, in which case you will make a profit only if the price of bitcoin increases.
So I looked at this thread.
Buy a trezor
trezor.io is the website.
It is a decent hardware wallet.
It is cheap.
If you are USA based.
Use two exchanges.
binance.us
coinbase.com
I would buy
85% BTC
5% LTC
5% DOGE
5% BCH
or
80% BTC
5% LTC
5% DOGE
5% BCH
5% ETH
I Would not go all in with the 20 k
I would spend 1000 every 2 weeks.
First 1000 at binance.us
Second 1000 at coinbase.
Third. 1000 at binance.us
fourth. 1000 at coinbase
do this for 20 controlled buys.
and transfer some coin into your trezor from each exchange.
good luck.
understand that the whole 20k could be greatly reduced.
once you do your buys.
hodl
hodl
hodl
hodl
took you 40 weeks to buy at 1000 every two weeks.
hodl for a minimum of 160 weeks.
make an assessment then.
Buy a trezor
trezor.io is the website.
It is a decent hardware wallet.
It is cheap.
If you are USA based.
Use two exchanges.
binance.us
coinbase.com
I would buy
85% BTC
5% LTC
5% DOGE
5% BCH
or
80% BTC
5% LTC
5% DOGE
5% BCH
5% ETH
I Would not go all in with the 20 k
I would spend 1000 every 2 weeks.
First 1000 at binance.us
Second 1000 at coinbase.
Third. 1000 at binance.us
fourth. 1000 at coinbase
do this for 20 controlled buys.
and transfer some coin into your trezor from each exchange.
good luck.
understand that the whole 20k could be greatly reduced.
once you do your buys.
hodl
hodl
hodl
hodl
took you 40 weeks to buy at 1000 every two weeks.
hodl for a minimum of 160 weeks.
make an assessment then.
Thanks for the method, is really useful !
However, why do you alternate between Coinbase and Binance. Why only use binance every two weeks ?
If you/your friend are new to all this, I would suggest that you stick to bitcoin, or at least to invest majority of money in it, especially until you figure something sout and how this market works. But even then, if you decide to invest in altcoins, name of the game should be "make as much BTC as possible".
Thing is, while altcoins might offer bigger returns in the short time period, being a newbie means that you won't sell that altcoin at the right time, greed will kick in no matter what you said to yourself before like "I will get out when it makes 3x) so in the end you will end up with less money than you would have if you just invested in bitcoin.
Thing is, while altcoins might offer bigger returns in the short time period, being a newbie means that you won't sell that altcoin at the right time, greed will kick in no matter what you said to yourself before like "I will get out when it makes 3x) so in the end you will end up with less money than you would have if you just invested in bitcoin.
I would wait for a dip.
I know people that said the exactly the same thing when BTC went to 30k, and are still waiting for dip to buy BTC for the first time. Imho, better tactic is dollar cost average if someone ain't sure. Less hassle and you don't have to time the market.Another solution is to do dollars cost average during a fall.
Hello there,
My friend is going all in with crypto world but he hasn't any clue about crypto world but with all the hype going right now it's not impossible to convince him that if you don't have enough experience and don't do enough research you cannot go into crypto world because the risk is just too high.
I am relatively new to the crypto world and I don't have the right expertise to suggest him where to start, I told him that people are focusing their investments on specific projects but didn't suggest him a specific one.
I made a thread here weeks ago and I was surprised with all the help I got so I figured out that this forum will be the ideal place for this question.
If you would have $20k to invest in crypto, what would you do?
My friend is going all in with crypto world but he hasn't any clue about crypto world but with all the hype going right now it's not impossible to convince him that if you don't have enough experience and don't do enough research you cannot go into crypto world because the risk is just too high.
I am relatively new to the crypto world and I don't have the right expertise to suggest him where to start, I told him that people are focusing their investments on specific projects but didn't suggest him a specific one.
I made a thread here weeks ago and I was surprised with all the help I got so I figured out that this forum will be the ideal place for this question.
If you would have $20k to invest in crypto, what would you do?
I may have a unique starting question, but you should first Ask your friend first his financial stability. Why? 20kUSD is a huge huge amount and the volatility of the crypto market can make that 20kUSD be 15k, 10k, or even make it all lose. Also, it is never advisable for anyone to go all in in cyrpto. as much as possible, do a 50-30-20 or just 10-20-30-40 rule where you divide that money onto either savings, investments, personal need, personal wants, emergency funds, etc. After knowing that, he first accept that the money he will be using to invest is the money he can afford to lose. Again, the risks in crypto is too high, and knowing that you could lose it would give you enough confidence yet by expecting a negative outcome. Then lastly, what risk can he take? Can he afford to lose it all in a single coin? If not, then it is preferable to just use at least 100usd for a coin. While his money is invested on coins that he trusted, searched, and studied, he should now spend time understanding more and more about investment.s
Why do I suggest this? Some people can learn from experiences. Hence, starting already from doing investments could drive your more to learn and study it.
Investing 20k straight away without prior knowledge of crypto is nothing but just a mistake. People think that crypto trading is very easy and everyone can do it. Many who came with this mind end up losing huge amount of money. My suggestion is to first learn and then start with small capital when market will be more stable.
My suggestion is very easy. Try to learn what are you doing/buying. Find a real usage for crypto currencies also in your daily life. Why people like crypto currencies (not only from a speculative perspective). Don't waste your funds in some unclear service or some others that are "too good to be true".
Avoid always shit coins.
Avoid always shit coins.
My friend is going all in with crypto world but he hasn't any clue about crypto world but with all the hype going right now it's not impossible to convince him that if you don't have enough experience and don't do enough research you cannot go into crypto world because the risk is just too high.
Do you know there are many people who are entering this crypto with this mindset in the hope of getting millionaire within no time ?
95% of those people will end up losing all their money. Believe me or not, that's a bitter fact. You can only earn in this market once you have the knowledge. Without k knowledge , it like throwing your money in gambling with slim chances of success.
Hello there,
My friend is going all in with crypto world but he hasn't any clue about crypto world but with all the hype going right now it's not impossible to convince him that if you don't have enough experience and don't do enough research you cannot go into crypto world because the risk is just too high.
I am relatively new to the crypto world and I don't have the right expertise to suggest him where to start, I told him that people are focusing their investments on specific projects but didn't suggest him a specific one.
I made a thread here weeks ago and I was surprised with all the help I got so I figured out that this forum will be the ideal place for this question.
If you would have $20k to invest in crypto, what would you do?
First of all, I don't recommend going all-in with crypto because just like what you have said it is too risky, one mistake and it will all be in vain. So invest only the money you can afford to lose. Usually, if you can notice people don't want to give any suggestions where to invest as the reason of they don't want to be the reason someone's failure, so I can't blame them for that, you are the one who is going to invest and technically it is your money so better if you will be the one who will choose for yourself, however, make sure you do make proper research. Nevertheless, if you still insist the only thing I can say is that choose among the top listed coins like Bitcoin or Ethereum and stay away from newly created coins unless you are prepared for the worse or done some proper research. My friend is going all in with crypto world but he hasn't any clue about crypto world but with all the hype going right now it's not impossible to convince him that if you don't have enough experience and don't do enough research you cannot go into crypto world because the risk is just too high.
I am relatively new to the crypto world and I don't have the right expertise to suggest him where to start, I told him that people are focusing their investments on specific projects but didn't suggest him a specific one.
I made a thread here weeks ago and I was surprised with all the help I got so I figured out that this forum will be the ideal place for this question.
If you would have $20k to invest in crypto, what would you do?
I'd suggest you to first do a research about how bitcoin really works, and then decide whetever it's okay for you to invest your savings in it.
So I looked at this thread.
Buy a trezor
trezor.io is the website.
It is a decent hardware wallet.
It is cheap.
If you are USA based.
Use two exchanges.
binance.us
coinbase.com
I would buy
85% BTC
5% LTC
5% DOGE
5% BCH
or
80% BTC
5% LTC
5% DOGE
5% BCH
5% ETH
I Would not go all in with the 20 k
I would spend 1000 every 2 weeks.
First 1000 at binance.us
Second 1000 at coinbase.
Third. 1000 at binance.us
fourth. 1000 at coinbase
do this for 20 controlled buys.
and transfer some coin into your trezor from each exchange.
good luck.
understand that the whole 20k could be greatly reduced.
once you do your buys.
hodl
hodl
hodl
hodl
took you 40 weeks to buy at 1000 every two weeks.
hodl for a minimum of 160 weeks.
make an assessment then.
Buy a trezor
trezor.io is the website.
It is a decent hardware wallet.
It is cheap.
If you are USA based.
Use two exchanges.
binance.us
coinbase.com
I would buy
85% BTC
5% LTC
5% DOGE
5% BCH
or
80% BTC
5% LTC
5% DOGE
5% BCH
5% ETH
I Would not go all in with the 20 k
I would spend 1000 every 2 weeks.
First 1000 at binance.us
Second 1000 at coinbase.
Third. 1000 at binance.us
fourth. 1000 at coinbase
do this for 20 controlled buys.
and transfer some coin into your trezor from each exchange.
good luck.
understand that the whole 20k could be greatly reduced.
once you do your buys.
hodl
hodl
hodl
hodl
took you 40 weeks to buy at 1000 every two weeks.
hodl for a minimum of 160 weeks.
make an assessment then.
If I have that much money I think it's good if I tried to invest in the bitcoin of course because this is the most and top coins and becomes volatile mostly other coins follow the same path and movement of the bitcoin if I made a ranking I think I will go for an ethereum, polka dot, and more just to make sure not to lose my money in just a single investment. Good to have different options to handle the investment.
There are many coins that you can buy or invest for as little as $20k. The main good investments are Bitcoin and some of the top altcoins that many people have recommended. Ethereum, BNB, DOT and altcoin are ranked in the top 10 on CMC.
For a newbie $20k is a huge sum. We recommend that you use only half or a few percent of that much money. Money Management is very important. Don't let your intention to invest become disastrous and suffer a lot of losses due to inexperience and don't know where to start.
For a newbie $20k is a huge sum. We recommend that you use only half or a few percent of that much money. Money Management is very important. Don't let your intention to invest become disastrous and suffer a lot of losses due to inexperience and don't know where to start.
Hello there,
My friend is going all in with crypto world but he hasn't any clue about crypto world ...
My friend is going all in with crypto world but he hasn't any clue about crypto world ...
Just an advice. Never go ALL IN in anything! Human emotions are very difficult to control when it comes to money so you and your friend basically have to train not to sell in fear to loose everything because that's what most people are doing and get rekt.
image source: internet
When you are scared and sell is when the trained trades buy...
When there's hype then there will be a correction so don't buy the top, if you missed it, just wait to for the correction/dip to enter.
People are spreading the risk buying bitcoin every week for example for months.
Staking sats is the best way
If you would have $20k to invest in crypto, what would you do?
That is huge money to invest in crypto.I think you need to reduce the amount, especially if you are new to cryptocurrency because you need to learn first about crypto to know which coin you should invest in.
But with that money, I think you can buy bitcoin, but make sure you already learn and know what the risk is behind bitcoin.
I will use a big portion of the money to invest in bitcoin and altcoin.
For the altcoins, maybe I will invest in ethereum and bnb.
If you would have $20k to invest in crypto, what would you do?[/b]
If i had such an amount to invest in crypto, i mist certainly throw in a larger amount say half the total amount (that is 10k) for btc first, then i split the remaining 10k into fractions in varying proportions and invest into other alt coins.
I am starting my own ETH Mining Rigs and starting amount is $5k which will give me $5k back in 6 Months taking care of electricity bills and Hardware cost.
So, if you start with $20K, you can earn almost $30K in an year or so if Mining remains consistent.
There are a couple of problems with altcoin mining.So, if you start with $20K, you can earn almost $30K in an year or so if Mining remains consistent.
Generally speaking the altcoins are very volatile and their pump and dumps can cause a lot of harm to those who own them whether they are investing or mining and have to hold for some time before they can sell.
Specifically speaking coins like ETH are killing their mining, and due to centralization there is no guarantee that you could continue being able to mine it in the future either. They could switch to 100% PoS next week and your large investment in mining equipment becomes obsolete (unless you start mining some other shitcoin). This is a very big risk.
If you would have $20k to invest in crypto, what would you do?
I appreciate your time.
Thanks
If I have that amount I'll diversify my portfolio I invest 50% of my $20k to the top 3 coins in the market with Bitcoin getting the lion's share, the other $5k or 25% I will invest on coins that are on the top 4 to 10th with equal shares, and the remaining $5k I will invest on new coins with good potential like IDENA, Bitgesell and ASK and other coins that I can research, the most important thing here is diversification and you are good to go.
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