Beginner: Where to move forward - page 3.

ktabb

full member

Activity: 266

Merit: 103

Quote from: Beastley5 on June 21, 2017, 04:30:18 PM

Hello all,

I am a pretty young investor who has just found his way to the cryptocurrency market and was wondering the best ways forward. I don't have a relatively high bankroll(only $100), but I am willing to wait for my holdings to grow. I'm not really looking for a get rich quick but just a solid investment that would yield more that 5%. I was wondering what your guys opinions would be for me to move forward. I have around $20 in bitcoin which i bought at $2100 a few weeks ago. If you were in my situation where time was not a big factor what currencies would you invest in? I have heard from friends and colleagues that Litecoin is on the way up but they didn't have any reasoning just a gut feeling.

Thanks,
Beastley5

To be honest, if you are just looking for something more than 5% per year then you shouldn't be in crypto... crypto is very risky. You can get a much more reliable return over 5% with big dividend stocks or real estate investment trusts (REITs). Mutual funds/index funds are a good option too. With crypto, you might double your money or cut it in half.

Also crypto is very high right now and slated to start moving downward. All coins are likely to decline soon as Bitcoin and the other leaders are extremely overvalued.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

you are already doing the first step correctly. to start small.
also you did the second step correct or accidentally and that is buying in a dip.

as you can see from my name i am a hodler. i am hodling bitcoin and will continue to do so because it is a very profitable investment and has a good future. at least it has a pretty good chance of growing.

to grow your money meaning to turn that $100 to $200 and then $1000 and so on. you need to have patience. don't fall for the hype. make good decisions and that means each trade you make you have to have a good reason for making it not just based on your emotions. try to find out what makes the prices go up and what makes them come down.

after you buy an altcoin then start thinking about when you should sell it. if your decision is after 5% then make sure you do that when it is reached. if is 100% then make sure to do that.
also having a stop loss is a very good feature that can save your ass.

and finally the same as second step, buy in the dip and never buy on top. specially in an altcoin that is in a bubble.

Beastley5

newbie

Activity: 2

Merit: 0

Hello all,

I am a pretty young investor who has just found his way to the cryptocurrency market and was wondering the best ways forward. I don't have a relatively high bankroll(only $100), but I am willing to wait for my holdings to grow. I'm not really looking for a get rich quick but just a solid investment that would yield more that 5%. I was wondering what your guys opinions would be for me to move forward. I have around $20 in bitcoin which i bought at $2100 a few weeks ago. If you were in my situation where time was not a big factor what currencies would you invest in? I have heard from friends and colleagues that Litecoin is on the way up but they didn't have any reasoning just a gut feeling.

Thanks,
Beastley5

Topic: Beginner: Where to move forward - page 3. (Read 1680 times)