A teen is given $1K to invest into Bitcoin - what would you recommend for them? - page 7.

BruceLee007

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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?

well he/she should avoid all investment schemes, as ponzi schemes, since it is usually a scam, investing in gambling or loaning site is risky thing too, same with gambling

he or she should just buy bitcoins and hold them for some time, it have almost no risk at all, or try trading, it is very profitable thing to do too, just bit more risky

geopolisch

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for teen, use it on study

Sandroxa

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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 think it is not a bad thing. I think it would be better to let the teen just watch and learn about Bitcoin first than give him $1000. But some teens are actually pretty smart so it could work out.

thejaytiesto

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Pretty easy, just but 1k worth of BTC right now. That's roughly 2,5 BTC that you would have as a teen.. pretty ahead of the pack for your age. By the time you are an adult, if you still hold them you may buy a nice car with that.
If you are impatient and want faster results, then hold until the halving and short, then hope you can pull a good buy-back order.

xavier77

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Xavier

Personally i believe teens should use money for a long term investment and not simply gambling away everything that he owns. That would really be worth $1k. He could invest, trade, mine or loan with safety to keep those 1k safe and then gamble with those profits

sasukemystery

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Reinvest when Bitcoin drops and repeat.

SebastianJu

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I wonder if all those users that suggest gambling again and again are only in the thread to make a post for their sigcampaign. I mean it might be convenient to stir up shit, getting answers and being able to answer on that.

Otherwise I would not be able to understand how such stupid suggestions like "until they learn ... gambling" or "would suggest gambling. He may earn double the value if his time was good else he need to arrange for another $1k." could come up. I can't believe they seriously believe that this is some art to learn.

If in fact they mean forms of gambling you can actually raise the chances in your favor then ok, if they think it can be done with dice or roulette or something then those guys are misleaded or simply sig spammers or potential activity collectors or something like that.

GamingBro

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Don't waste all of your money gambling better hold it for some time. After price increase try to sell your coins and then again buy it when price will be lower. Simpl recommendations i guess

delliaerd

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Quote from: ultimatesky on March 21, 2016, 09:59:38 AM

Hey should invest them for a short term because kids do not have patience in my opinion.
If he just invest it in some bitcoins for a short term he will make profit for sure because of the halving.

Yeah, it will gain up their bitcoin and get decent profit for them"uilllk" by other way such as minning.

Pursuer

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Where is my ring of blades...

this really depends on the person.
for someone who is lazy or doesn't have time to dedicate I think the best option is to just buy and hold bitcoin for a couple of months for the short term profit and a couple of years for major profit.

but if he can dedicate some time, there are many ways to make profit on $1K worth of bitcoin (~2.5BTC). I would suggest three popular methods
- lending : do it with escrow and don't forget valid collateral
- mining (altcoins) : sometimes it is possible to find altcoins that are worth mining, you have to search for them.
- trading : it needs some experience but the return is good if you want to be in crypto currency markets for a long time it is good to learn these things for future profiting.

SanaButt

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Keeping it save for the next few months is the best option.
The reason i am saying this that halving is just a few months away and once you reach halving and price got to a great level,
it may double the current value of bitcoins.

ultimatesky

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SkyFall

Hey should invest them for a short term because kids do not have patience in my opinion.
If he just invest it in some bitcoins for a short term he will make profit for sure because of the halving.

KennyR

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

If they are not interested to spend time but only require profit, would suggest gambling. He may earn double the value if his time was good else he need to arrange for another $1k.

jack1111

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if they don't have experience , I think the best thing to do is to store them until they learn trading or gambling or investing ....

bitlancr

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It will be of course good if they can make some good profit later so why not. And that is quite good. But yeah it is hard to predict for what is going to happen.
And that is the problem. To make some profit you have risks and that is the bad thing. But that is normal.

SebastianJu

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Quote from: Rubberduckie on March 21, 2016, 01:30:28 AM

I would go with trading it. Its only a grand and they can learn the value
of money early along with how important it is to make money to invest.

If they lose it, its a cheap lesson on how risky trading can be and maybe saves
them thousands when they are older and make real money. Either way they
arnt gonna learn anything just saving it. I think taking chances while young is
smart.

Using the whole grand for trading is not a lesson, it's disappointing and disencouraging. You don't know how much money it is for the person and for the father. Even in developed countries people need to work in a not so bad job to get that amount of money in some weeks. So you even don't know if he will make serious money at one point.

Putting everything into trading is simply wasted money.

If he wants to trade then he should start with trading maybe $20 of that account. Because it is pretty sure that he will lose that amount tenth of times until he might figure out how to deal with it.

CoinSiteDesigner

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Quote from: BitcoinHodler on March 18, 2016, 11:04:53 AM

Quote from: CoinSiteDesigner on March 18, 2016, 09:24:03 AM

1. Buy

2. Hold

3. Forget for a few years (atleast until 2020)

4. Come back, take your profit Tongue

this is what i would do but with a little difference in the third step.

bitcoin market is such an active market, always changing which makes it a good place for making some more money, so i would keep an eye on the price and maybe do some small trading daily on the side.

but still hodl the majority of my coins since i am a BitcoinHodler Cool

Quote from: Altcoinsupporter on March 18, 2016, 12:05:01 PM

Quote from: CoinSiteDesigner on March 18, 2016, 09:24:03 AM

1. Buy

2. Hold

3. Forget for a few years (atleast until 2020)

4. Come back, take your profit Tongue

It would be a good thing to do but a teen does not have the patience for this in most cases at least.
I thing you should just buy them now and cash them out at the end of this year.

Yep, that is why I said buy and forget, coz I'm impatient, if I keep on look at the price. It scares me when the prices goes down and makes me curious to sell already if it goes even if a little high Grin

Rubberduckie

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I would go with trading it. Its only a grand and they can learn the value
of money early along with how important it is to make money to invest.

If they lose it, its a cheap lesson on how risky trading can be and maybe saves
them thousands when they are older and make real money. Either way they
arnt gonna learn anything just saving it. I think taking chances while young is
smart.

Novep

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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'll suggest that teen to keep half of it then invest the remaining $500 on bitcoin. Keep the bitcoin safe in your wallet and wait for the price increase. For the other half, use it to invest in materials that will help you ean more bitcoin like a cheap mining rig for bitcoin or for an alt coin.

coinplus

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Quote from: honeyhtet on March 19, 2016, 05:06:39 AM

Investing all the 1K in BTC and keeping them for a price increase, or maybe buying some mining equipment's with it if there price become favorable "with just some of it of course".

I will suggest only two out of them, one is he/she should have to start any offline or online business and the other is that; Hold them. If he/she is not expert in offline business then online business is much easy.

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