Topic: How do I start out trading with $200? - page 3. (Read 1579 times)
Firstly you have to gain some knowledge by study this forum properly. You will required to know about trading and also everything about crypto currencies. If you will start trading after brief study then there will be low chances of a wrong decision, because without adequate information trading may be wipe out your all money.
I want to start out trading altcoins but don't know where to start. I don't have much money because I am a student.
Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?
Any help would be appreciated, thank you
If you are a beginner, trading might be a difficult task.Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?
Any help would be appreciated, thank you
You might need a little more for ICOs may be. Your best option is to buy individual coins. Right now Cardano, Achain, Quantstamp, Verge are cheap and have very good potential.
Or you look into Crypto Funds like Bitwise or Crypto 20. Take a look at Coincube where you can invest little at at time, which is connected to your account on Binance with automatic balancing, but remember Index funds are for long term investing.
Actually it's only small amount for crypto trading, don't forget coin transfer fee, exchange trading fee, so you only can choose 1 or 2 coin to invest, choose below $0.1 Cryptocurrencies , Anyway, top up more investment fund if you can
you can think ZERO.. probably it will be follow zcl way.. you can try..
Of course, I can. there are even people who start trading below that amount. well, I've also done trading with less amount of it to try and try. with the amount of $ 200, I think you can make a pretty good profit. you can start by sending the money you have to a trusted exchanger.
Trading is not a good idea with small amount of $200 because with a small amount you can not buy high price coins and you have only option to buy low price coins. which have high volatility and big risk in value in those coins.
I believe that it is better to invest with such capital in a high-risk project (for example, WAX, which in my opinion is strongly underestimated, this is my opinion, there are many such projects). And start earning the Crypto currency in other ways - bounty, airdrop.
Trading without knowledge is very dangerous as your one wrong trade can wipe-out all your money and you will be empty handed. If you study this forum properly, you will get vast knowledge of trading and also everything about crypto currencies. If you start trading after brief study then you do trade as per rules and then there are low changes of a wrong decision.
In my opinion it's great to invest in ICO that you truly researched upon. Because they can go x20 or even higher depending on the market. ICOs is high risk high rewards kind of thing so I warn you not to trust some shady ICOs.
There are a lot of strategy in trading cryptocurrencies, the most common strategy is what we called "Buy low, Sell high" I think you already knew that. So you're wondering what coin you should buy? you can check the first 10 or 15 coins here in https://coinmarketcap.com/ and study every coin well and try to invest in it.
If you're looking for detailed strategy i can give you a link. I've read this blog last month ago and i think this is a big help it includes detailed strategy, entry points and exit points etc.
Here's the link: https://www.deepdotweb.com/2017/04/30/tutorial-altcoin-flipping-cryptocurrency-trading-strategies-always-win/
If you're looking for detailed strategy i can give you a link. I've read this blog last month ago and i think this is a big help it includes detailed strategy, entry points and exit points etc.
Here's the link: https://www.deepdotweb.com/2017/04/30/tutorial-altcoin-flipping-cryptocurrency-trading-strategies-always-win/
actually in trading you should find your own way, but I will give my opinion a little, with $ 200 you should try to buy coin that has low cost and hold it in the long term.
I want to start out trading altcoins but don't know where to start. I don't have much money because I am a student.
Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?
Any help would be appreciated, thank you
Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?
Any help would be appreciated, thank you
I would suggest investing in pre-ico when token price at its lowest so in the end of ICO you can at least double your money. Just choose ICO wisely
If you are a newcomer. You can choose small coins with huge volume. It can help you earn money
Research about the coins or tokens you like and find out which exchanges they are on. You can get all this information on coinmarketcap.com and click on the "markets" tab in the cryptocurrency you like. You'll need to convert your $200 to bitcoin and you can do that on coinbase, gemini and many others. Then send it to the exchange and buy the coin of your choice. With $200 of btc, you should just pick one or two coins max.
$200 or $2000, You must always prefer to keep atleast 30% in BTC because no one knows the future of altcoins. This may looks good now but eventually 90% of the alts fail. For your instance check the top 10 alts from 2015 and compare it to today's coins. You will find some huge difference! Lol
I want to start out trading altcoins but don't know where to start. I don't have much money because I am a student.
Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?
Any help would be appreciated, thank you
I would look at a variety of different options and see if you like any in the first place. Then I’d figure out which ones seem most sound by their white paper, the description of their business and strategy. I’d from there narrow down to maybe 2 or 3 and make my move. You could do an ICO during its Pre-ICO stage so then you’d gain more free shares, then you could do something different like see if there’s a specific ICO which has a unique program. I’d try 2 or 3 different things, but read up on it and ask people and get into telegram chats. Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?
Any help would be appreciated, thank you
Cryptocurrency trading can be extremely profitable if you know what you are doing, but it can also lead to disaster. Even though most traders decide to either go with fiat or bitcoin, other cryptocurrencies can represent viable income sources, as long you as you tread carefully and understand what you are doing.
The first thing you will need is a safe and secure platform to trade your cryptocurrencies. When you chose one, there is always a process of signing up, well that is easy. Once you’ve signed up, you will need to transfer funds into the exchange.After agreeing, select the currency you are interested in trading and click “Deposit/Withdraw.” In some exchanges, it is also possible to deposit via bank wire. Now all you need to do is find your desired market, in which you will trade a certain amount for another cryptocurrency. Before placing an order, make sure you properly analyze the market, and agree with the current best price. If there are enough available tokens at your eligible price, your order will be immediately taken care of. If not, your order will be waiting for someone to trade at your desired price.
Firstly, there is no guarantee that you will break even let alone make profit. You might also lose all your money. Trading is totally unpredictable endeavour. Having said this you may have to read get yourself acquainted with fundamentals.
With regards to buying the token with fiat, start by depositing to GDAX (it is a platform connected to Coinbase, but with much lesser fees).
Once you buy ETH there, open an account on Bittrex or Binance (preferably both).
With regards to which coins to buy, it strongly depends on how risk averse you are as an investor. A mid risk (in crypto terms) would probably be holding 40% in BTC/ETH combo, 30% in well established coins that still have potential to grow (e.g. NEO, OMG) and the rest of 30% in lesser known alts with small cap and huge potential, but also huge risk.
If you are more of a risky kind of guy, you can create a portfolio of 2-3 alt coins you did a research on, this might bring you much more money faster, but you are also eligible to loose most of your investment really quick.
Once you buy ETH there, open an account on Bittrex or Binance (preferably both).
With regards to which coins to buy, it strongly depends on how risk averse you are as an investor. A mid risk (in crypto terms) would probably be holding 40% in BTC/ETH combo, 30% in well established coins that still have potential to grow (e.g. NEO, OMG) and the rest of 30% in lesser known alts with small cap and huge potential, but also huge risk.
If you are more of a risky kind of guy, you can create a portfolio of 2-3 alt coins you did a research on, this might bring you much more money faster, but you are also eligible to loose most of your investment really quick.
It depends on how you handle the risk. if you're willing to trade altcoin then top 10 has a future coin that will eliminate or support the bitcoin legacy. this coins has developed more than any other coins or look for fundamentals that has great project you should spot a trading for a high volume coin.
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