Topic: Advice for a poor newbie - page 2. (Read 743 times)
Hodl the coins you have and also invest in potential altcoin that will have value in the future. Don't just depend in altcoin only but invest also in bitcoin
Invest in popular coins that are currently low in value. They will rise eventually. i.e DOGE etc
Evaluate the price in dollars and Satoshi. Enter the market in which you are most comfortable. The price increase is very close. Invest in popular coins or tokens. Without popular coins, you will not need time to deal with losses. 
Invest in popular coins that are currently low in value. They will rise eventually. i.e DOGE etc
There is an advantage of holding multiple coins. When there is a rise, you can get more money. I would rather advice that you convert all your money into Bitcoin, because it can pump really high and you can make huge profits as compared to those of alts.
I think you should not hold bitcoin and eth, little profit but great value. I used to buy a currency like shitcoin at a very low price. After a while, it seems that shit has turned gold, my profit has reached over 400%, in 1 week. So I want to advise you with your little money you should buy shitcoin and wait for the unexpected
Altcoins have higher profits than bitcoin but its more risky than bitcoin so you should pick one that will suit you or invest in bitcoin and altcoins
Don't tell OP that alts have higher profits because it might change his point of view about bitcoin vs. alts. @OP investing to bitcoin is like a sure ball, you just have to wait for few more months and do nothing until the value of your bitcoin holding increases together with the price.There are incidents that alts doesn't go along the way of bitcoin.
The logic is:
Bitcoin rises, alts fall but after that it goes together to the rise of bitcoin however knowing the timing is difficult.
And this pattern usually happens so think before investing into alts. OP doesn't have that much to invest so it's safer to advice that he should go for bitcoin first before anything else.
How do you think BNB is a good choice? What's the basis of your interpretation? BNB is overvalued now even. It doesn't have anything to be priced at $30. Just because of the IEO, it got significant pump. Initially I have the same thought but, the truth is it's still a shit centralizes coin.
Can you imagine what will happen if a significant hack goes over Binance? Let me remember- Waso, waso, waso, bitconeeeeeeeeeeeeet.
We may derail this thread if we go back and forth with this. Obviously, you have your own opinion of BNB and others like me have another. You can go go check the various BNB topics on Altcoins Discussion board. Can you imagine what will happen if a significant hack goes over Binance? Let me remember- Waso, waso, waso, bitconeeeeeeeeeeeeet.
For example you can collect BAT by using the Brave Browser, which I think is a great browser.
I've been wanting to try this but it is not yet available in our region. 
Here is my philosophy.
Only collect altcoins if you can get them for "nothing". For example you can collect BAT by using the Brave Browser, which I think is a great browser. You can get a few to start through the Fit to Talk English project as well.
I don't think you should speculate, but you should collect Bitcoin through scalping on an exchange like Coin Base. Keep a long term HODL wallet, and don't spend or exchange those for a couple of years. Watch videos like Krown's Crypto Cave to learn about Bitcoin price movements, and buy coins when you think the price is low. Sell them when you think the price might go down, and buy back again later. Don't use gearing ( leverage ), and never sell coins for a loss. If the price is below the price you paid, then either wait for a recovery, or move the coins into your HODL wallet.
I don't believe that you will lose money using this method, as long as you can hold on for at least a couple of years. The method is similar to dollar cost averaging, but includes a bit of speculation which should give your holding a boost. Note, because this is low risk, then it won't make you rich overnight, and it does require you to learn a bit about the price movements of Bitcoin
Only collect altcoins if you can get them for "nothing". For example you can collect BAT by using the Brave Browser, which I think is a great browser. You can get a few to start through the Fit to Talk English project as well.
I don't think you should speculate, but you should collect Bitcoin through scalping on an exchange like Coin Base. Keep a long term HODL wallet, and don't spend or exchange those for a couple of years. Watch videos like Krown's Crypto Cave to learn about Bitcoin price movements, and buy coins when you think the price is low. Sell them when you think the price might go down, and buy back again later. Don't use gearing ( leverage ), and never sell coins for a loss. If the price is below the price you paid, then either wait for a recovery, or move the coins into your HODL wallet.
I don't believe that you will lose money using this method, as long as you can hold on for at least a couple of years. The method is similar to dollar cost averaging, but includes a bit of speculation which should give your holding a boost. Note, because this is low risk, then it won't make you rich overnight, and it does require you to learn a bit about the price movements of Bitcoin
Hello, I recently got into crypto because I find it really interesting and if you can make a bit of money with it, why not get into it.
The only problem is I only have 30-40€ a week to invest in crypto. Except I don't know what would help me make a profit, I have like 24$ worth of BNB, 15$ of TRON, and about the same of BTC and ETH.
I don't know if I should HODL most of them and add a bit of money to each every week or take more risks and try alt coins with 50-100€ for short term investments.
Tl;dr: Can someone with experience tell me how to invest small quantities of money.
Thanks in advance
The only problem is I only have 30-40€ a week to invest in crypto. Except I don't know what would help me make a profit, I have like 24$ worth of BNB, 15$ of TRON, and about the same of BTC and ETH.
I don't know if I should HODL most of them and add a bit of money to each every week or take more risks and try alt coins with 50-100€ for short term investments.
Tl;dr: Can someone with experience tell me how to invest small quantities of money.
Thanks in advance
It is better not to invest if you do not know much but, as 2020 is next halving BTC can give you greater profits. Also, instead of having a portfolio and investing time in managing a portfolio. You can hold BTC in longer run and invest the time in learning more about cryptocurrency and Blockchain technology.
I think this is the worth utilisation of time and money.
I can also advice you to invest at least 90% of money in Bitcoin, and maybe you can play with 10% by investing in some altcoins who can increase by x00% in very short period of time. But this is something very risky, you need right moment to buy and to sell, in other words you need to become good trader.
I would not say that you are poor with €30-40 per week to invest, this is €120-160 per month and maybe in future you'll be able to spend more. Remember that every journey begins with small steps
Just a small (big) advice, pay attention to security of your coins - do not keep them in online wallets / exchanges, and always double check what you download to your PC. When you get some significant amount of coins, think about investing in hardware wallet.
I would not say that you are poor with €30-40 per week to invest, this is €120-160 per month and maybe in future you'll be able to spend more. Remember that every journey begins with small steps
Just a small (big) advice, pay attention to security of your coins - do not keep them in online wallets / exchanges, and always double check what you download to your PC. When you get some significant amount of coins, think about investing in hardware wallet.
Can you confirm if your total cash out is around $80? I'm not sure if you followed the "do not put all your eggs in one basket" advise but you may have spread your assets too thin here. It is better to consolidate to one coin like BTC as many have suggested already. I adon't think BNB is a bad choice either but it is up to you.
How do you think BNB is a good choice? What's the basis of your interpretation? BNB is overvalued now even. It doesn't have anything to be priced at $30. Just because of the IEO, it got significant pump. Initially I have the same thought but, the truth is it's still a shit centralizes coin.Can you imagine what will happen if a significant hack goes over Binance? Let me remember- Waso, waso, waso, bitconeeeeeeeeeeeeet.
Can you confirm if your total cash out is around $80? I'm not sure if you followed the "do not put all your eggs in one basket" advise but you may have spread your assets too thin here. It is better to consolidate to one coin like BTC as many have suggested already. I adon't think BNB is a bad choice either but it is up to you.
Focus on Bitcoin.
99% of your crypto should be BTC,
and you can play with only 1% of shitcoins that can maybe explode.
Rather than you buy weekly for 30-40€, and pay high fees.
you are better to do monthly purchases
Best way to avoid extra fees is to connect with your local
Bitcoin community in your city/state.
There are traders and miners all over the world.
One more thing you can do is offer your services
and receive payment in Bitcoin.
Also educate yourself every day about blockchain technology,
and surround yourself with similar minded people,
and don't trust crypto people to much if they are on discord or telegram.
Good Luck
99% of your crypto should be BTC,
and you can play with only 1% of shitcoins that can maybe explode.
Rather than you buy weekly for 30-40€, and pay high fees.
you are better to do monthly purchases
Best way to avoid extra fees is to connect with your local
Bitcoin community in your city/state.
There are traders and miners all over the world.
One more thing you can do is offer your services
and receive payment in Bitcoin.
Also educate yourself every day about blockchain technology,
and surround yourself with similar minded people,
and don't trust crypto people to much if they are on discord or telegram.
Good Luck
I think you should focus on bitcoin only and when you have like 400$ or 500$ worth of bitcoin you can start considering other good altcoins like binance token
Awesome! Thanks for all your replies and very helpful words, I will take everything at heart and put it to good use!
Im happy to know that you are interested in bitcoin. Many people have this negative idea. Bitcoin risk is more likely to increase profits again. First, get a deeper understanding of crypto-currencies. One wrong step can be overwhelming at the moment.
"bitmover" said invest 100% of what you have in BTC. Do not face losses too quickly. You also follow "tbct_mt2" rules. Be aware of hackers. They will try to fool you. Always be vigilant about security and backup.
Quote
I have like 24$ worth of BNB, 15$ of TRON, and about the same of BTC and ETH.
The decision deserves praise."bitmover" said invest 100% of what you have in BTC. Do not face losses too quickly. You also follow "tbct_mt2" rules. Be aware of hackers. They will try to fool you. Always be vigilant about security and backup.
In a nutshell:
- Crypto is not a safe place for you to play and win.
- Lots of traps and scam projects waiting for you.
- Do not invest in any altcoins, tokens, ICOs, IEOs if you don't do your own research and understand them (at least basics about them).
- Invest in bitcoin only will keep you safely from scam projects.
- Crypto is not a safe place for you to play and win.
- Lots of traps and scam projects waiting for you.
- Do not invest in any altcoins, tokens, ICOs, IEOs if you don't do your own research and understand them (at least basics about them).
- Invest in bitcoin only will keep you safely from scam projects.
Do. Not. Invest. In. Things. You. Do. Not. Understand.
Why did you personally pick these coins? To be honest, if you're asking these types questions, chances are, you haven't even consulted Google. Also, the best investments and the risk to reward ratio that's best for you completely depends on your finances. Do we know your financial situation? No. Only you does.
Probably put money into cryptocurrencies if:
Invest in other safer assets(stocks, ETFs, etc) if:
Why did you personally pick these coins? To be honest, if you're asking these types questions, chances are, you haven't even consulted Google. Also, the best investments and the risk to reward ratio that's best for you completely depends on your finances. Do we know your financial situation? No. Only you does.
Probably put money into cryptocurrencies if:
- You have extra money that you can afford losing.
- If you actually understand what these cryptocurrencies are for.
Invest in other safer assets(stocks, ETFs, etc) if:
- You'd prefer to not have something that could crash in value overnight.
- You simply do not afford losing money.
I think with highly volatile assets such as cryptocurrencies it's wiser to invest smaller amounts evenly over a longer period of time than investing a larger amount in just one go.
Look up Dollar cost averaging (also known as DCA, as mentioned by Little Mouse). While it doesn't necessarily perform better than investing in bulk it definitely helps even out the ups and downs of the market and is thus a slightly safer approach (if there is anything like "safe" in crypto).
Look up Dollar cost averaging (also known as DCA, as mentioned by Little Mouse). While it doesn't necessarily perform better than investing in bulk it definitely helps even out the ups and downs of the market and is thus a slightly safer approach (if there is anything like "safe" in crypto).
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You can invest weekly into BTC, following a DCA method which may give you significant profit in the long run. Like as bitmover said, 100% BTC is a good portfolio if you are thinking long term.
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