A teen is given $1K to invest into Bitcoin - what would you recommend for them? - page 11.

el kaka22

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Quote from: justdimin on March 16, 2016, 01:44:22 PM

Quote from: delliaerd on March 16, 2016, 02:53:46 AM

Quote from: TastyChillySauce00 on March 16, 2016, 02:25:37 AM

you just need to invest right? so, buy bitcoin at the lowes point and then sell the bitcoin at the higher point of the month, it's simple and less risk compared to trading or any other effort to grew up your bitcoin

You are absolutely right but only do simple thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

Yes, it is a good business nowadays with bitcoin, anyone who want to increase his/her bitcoin faster with less efforts he/she have to start trading with it. So learn trading and invest in there to earn more.

delliaerd

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Quote from: hasiramasenju on March 16, 2016, 10:27:23 AM

honestly i do not trust anymore for investment sites or cloud mining sites because most of them will be scam and you will lost all your money before you ROI and my advice is buy bitcoin and hold till next few months because some people believe the prices will rise up soon

But it will take a long time enough to earn many profit. How if that teen starting to try trading and learn more about that.

ausbit

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Quote from: justdimin on March 16, 2016, 01:44:22 PM

Quote from: delliaerd on March 16, 2016, 02:53:46 AM

Quote from: TastyChillySauce00 on March 16, 2016, 02:25:37 AM

you just need to invest right? so, buy bitcoin at the lowes point and then sell the bitcoin at the higher point of the month, it's simple and less risk compared to trading or any other effort to grew up your bitcoin

You are absolutely right but only do simple thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

I think a teen will need to learn many things related to bitcoins before investing into it, as no body is sure when to buy and when to sell as we don't don't what is the right time to do that.

Kprawn

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Quote from: teddy5145 on March 16, 2016, 11:18:42 AM

Damn, i thought this is a real news when i first saw the topic
Well Bitcoin is already risky in the first place because the price can jump around at any minute Tongue

Especially with the block size debate that can affect the price and investors
If i have $1k i will probably start my own business, not a big one, I will start with smaller ones to make sure that this business is profitable and have a demand to it
After established and making sure it's profitable then i will use the rest of the money to turn it into a big business

Quote from: Kprawn on March 16, 2016, 10:29:10 AM

If I gave my teens $1k to invest in Bitcoin, they would most probably create an account on Purse and spend it all in one month. Most teenagers do not think about the future and investment

opportunities... they concentrate on homework and boyfriends and girlfriends. If you want to teach your kids about investments, start them our smaller... much smaller, and work your way up to

bigger investments, once they grasp the responsibility of that much money. Remember, we need to be young, while we are young... there are still time to worry about these things when you older.

Just lay the basic foundation and strengthen it, as they grow bigger and more responsible. Wink

I'm a teenager and i do think about my future

Thus the reason for me putting the most in bold, to exclude the exception on the rule. I am not saying all teenagers are reckless and without a vision for the future. They just have other goals and

interests, when they are younger. Back in my day, we did not have half of the distractions most kids are faced with today. I am just saying, you should make the most of your teen years, and leave

the grownup things for later. Time fly by, and before you know it, you are in a 9/5 job and a family with huge responsibility. Wink

justdimin

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Quote from: delliaerd on March 16, 2016, 02:53:46 AM

Quote from: TastyChillySauce00 on March 16, 2016, 02:25:37 AM

you just need to invest right? so, buy bitcoin at the lowes point and then sell the bitcoin at the higher point of the month, it's simple and less risk compared to trading or any other effort to grew up your bitcoin

You are absolutely right but only do simple thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

btcltccoins

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Well keeping them in a wallet and wait for the price increase is the safest way.
On the other hand lending, gambling, trading, could result in a scam.
So be careful.

Red-Apple

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Quote from: DARKCHANGE on March 16, 2016, 11:42:40 AM

Would recommend him to use safe exchanges like Kraken, at least not COINBASE. This shitty company closes down accounts as they like without any reason.

HYIP, Lending might be the most riskiest, but fastest ways to grow the coins.

in my opinion you should not even mention things like HYIPs to a newbie because for someone who just started with bitcoin it would suck if he loses money. it will most probably cause him to stay away from bitcoin because of a negative experience with an scam.

DARKCHANGE

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Would recommend him to use safe exchanges like Kraken, at least not COINBASE. This shitty company closes down accounts as they like without any reason.

HYIP, Lending might be the most riskiest, but fastest ways to grow the coins.

Aamir1

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Quote from: Betwrong on March 16, 2016, 11:05:58 AM

Quote from: Hocapoca on March 15, 2016, 04:58:52 PM

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

I would also suggest him to buy bitcoins with that amount but i won't suggest him to hold them for too long as we can't really know if what will happen in next years, he should just hold them for a while lets say until halving and after that when price goes high he should sell them and get the profit, after that if he wishes to continue then he can continue the process with the base amount and have the profit in his pocket.

calkob

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If i was him i would by bitcoin and stick them on to a paper wallet, and forget about them for 10 years. Bitcoin is the investment..... Cheesy

teddy5145

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Damn, i thought this is a real news when i first saw the topic
Well Bitcoin is already risky in the first place because the price can jump around at any minute Tongue

Especially with the block size debate that can affect the price and investors
If i have $1k i will probably start my own business, not a big one, I will start with smaller ones to make sure that this business is profitable and have a demand to it
After established and making sure it's profitable then i will use the rest of the money to turn it into a big business

Quote from: Kprawn on March 16, 2016, 10:29:10 AM

If I gave my teens $1k to invest in Bitcoin, they would most probably create an account on Purse and spend it all in one month. Most teenagers do not think about the future and investment

opportunities... they concentrate on homework and boyfriends and girlfriends. If you want to teach your kids about investments, start them our smaller... much smaller, and work your way up to

bigger investments, once they grasp the responsibility of that much money. Remember, we need to be young, while we are young... there are still time to worry about these things when you older.

Just lay the basic foundation and strengthen it, as they grow bigger and more responsible. Wink

I'm a teenager and i do think about my future

tn211

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Quote from: Yakamoto on March 16, 2016, 11:10:55 AM

Quote from: Betwrong on March 16, 2016, 11:05:58 AM

Quote from: Hocapoca on March 15, 2016, 04:58:52 PM

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

But 10 years is a long time for a teenager to wait, it would be so hard for them to have the patience to make that money. And it's such a volatile currency, what if he loses it all! /s

Truthfully I'd say buy 2BTC and then do whatever the hell with the rest of it. It'll be insurance money for a month or two.

No I do not think this a very good idea, I think its better to just let him invest and experience the bitcoin.
Also the fact is that he should invest in them on this time, because I think he can even make profit on a short term so he doesn't need to wait for a long time due to the halving that is coming.

Yakamoto

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Quote from: Betwrong on March 16, 2016, 11:05:58 AM

Quote from: Hocapoca on March 15, 2016, 04:58:52 PM

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

But 10 years is a long time for a teenager to wait, it would be so hard for them to have the patience to make that money. And it's such a volatile currency, what if he loses it all! /s

Truthfully I'd say buy 2BTC and then do whatever the hell with the rest of it. It'll be insurance money for a month or two.

Betwrong

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Quote from: Hocapoca on March 15, 2016, 04:58:52 PM

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

sallymeeh27

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That would probably a teen will have loads of idea but most of them will not inquire to save a lot. Better advice him, educate what bitcoin can make this money higher.. I will tell him to learn the trading for this is a lot of money and then save some for the future but most of all buy a high rank and do the signature campaign somehow even if he will spend some money he can still earn some and of course gambling play the game and try some luck but not too much, in this instance either he can earn, double his money..

Kprawn

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If I gave my teens $1k to invest in Bitcoin, they would most probably create an account on Purse and spend it all in one month. Most teenagers do not think about the future and investment

opportunities... they concentrate on homework and boyfriends and girlfriends. If you want to teach your kids about investments, start them our smaller... much smaller, and work your way up to

bigger investments, once they grasp the responsibility of that much money. Remember, we need to be young, while we are young... there are still time to worry about these things when you older.

Just lay the basic foundation and strengthen it, as they grow bigger and more responsible. Wink

hasiramasenju

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honestly i do not trust anymore for investment sites or cloud mining sites because most of them will be scam and you will lost all your money before you ROI and my advice is buy bitcoin and hold till next few months because some people believe the prices will rise up soon

SebastianJu

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At least he should not try to trade with the whole amount. If he is a beginner in trading then I can promise you he will lose his coins pretty fast.

If he holds 1k in Bitcoin then he should start trading with really small amounts. Like $20. Not more. He will lose it anyway. A couple of times when he still tries. Trading has a nice long learning curve...

actmyname

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Let the teen invest some of the coins in some trustworthy sites and make them hold the rest. It's better to stave off and just wait a bit for the majority of your coins while the price increases. Let their patience reward them, and that'll be a good lesson for the future as well. There are different investments that can be risky but may pay off in the long run, like investing into a gambling site. Though it holds risk to it, with $1K you can part with some of it as long as you hold the rest. Make sure the teen does not go into gambling. That holds significant potential loss.

romero121

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i would suggest him to do trade by buying some bitcoins with the $1k. Than this only gambling can be recommended which is good than any other means of earning.

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