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Topic: how to invest best $2,000-$5,000? - page 2. (Read 401 times)

legendary
Activity: 2268
Merit: 1379
Fully Regulated Crypto Casino
December 20, 2020, 05:08:10 AM
#18
Would you mind giving us some more information regarding your experiences?  I am seeig "Locked Savings" and "Flexible Savings".
Sure mate. I never tried the locked savings but I think it's also good and higher interest compared the flexible. But technically the idea is the same. I like flexible cause anytime what you put stablecoin or any coin on their savings program can be pull out immediately without any tie up or locked.

Its simple computation.

Here is the sample 5% APY or earnings on monthly basis.

$5k usdt on savings
5,000 x 5% / 365= $0.68 daily if you multiply it for a month you could earned approximately $20+ without even risking anything. Of course depends on APY last time the percentage is 8% I'm not sure why it got lowered but it changes ( increase/decrease). Not much but of course if you have more than 5k the earnings are quite considerable.
full member
Activity: 574
Merit: 125
December 20, 2020, 04:04:18 AM
#17
It would be better if you start learning the crypto world first before doing trading and investing, both are risky especially trading so I suggest you should learn first. Investing is much better than trading for beginners who don't have good knowledge yet. Just follow the basics of "buy-in low and sell in high" if you do that thing then for sure you will gain profit especially if you invest for a more profitable long term.
hero member
Activity: 2870
Merit: 574
Vave.com - Crypto Casino
December 20, 2020, 03:55:11 AM
#16
Here the questions:
- what would be the best investment method you would recommend?
- linked to your recommendation, what tools/services you would recommend also (you need to balance the service/features with their fees if any)
- what service you would recommend to convert such crypto to USD or EUR?
- Bitcoin.
- Poloniex uses lending services on their website, so you will have another opportunity to make additional money from the loan.
- You can use Binance to convert crypto to USD or EUR or you can send the money to your bank account.
- Or you can use Paypal directly from your account to convert crypto to USD or else.

I do not recommend you to trade if you do not know about trading because that can confuse buying low and sell high. If you do not mind learning more lessons about trading, you will have the opportunity to profit while you can get more profit from lending.

- it's no rocket science that buying low selling high (but high enough to cover the service's fees + exchange fees) is the basic rule to get profit out of trading => according to your recommendation, Binance is the best here
- In my case I see trading like buying USD / EUR and selling whenever that USD or EUR will trend in a way to have profit => I wouldn't invest in a crypto that is not popular (so I would pick the TOP 3 crypto based on volume)
- I was thinking to trade 1-2 times a week or month, so a semi-passive way for making profit (like a bank deposit but with higher interest) => what's still your best recommended approach? (I still hope I won't get addicted to that method whatever it'll be to end staying online 12hrs/day)
Buying low and selling high is the basic thing in trading, so you need to learn more about trading.

You can pick ethereum besides bitcoin because I see the ethereum movement is pretty good.
Bitcoin and ethereum trading will be a good choice at this moment.

Simply put, I have achieved most of my main personal goals in life, I get extra money from my monthly wage => I "don't know" what to do with such money Smiley On long term, the best case for me is to work less for my daily job (or just quitting) and spend more time for my hobbies / family -> I might think this crypto world can offer this?
If you do not know what you need to do with that money, you can invest in crypto, especially in bitcoin and ethereum because that can give you extra money. Just buy both bitcoin and ethereum and hold it until the price increase higher.
member
Activity: 252
Merit: 29
Sovryn - Brings DeFi to Bitcoin
December 20, 2020, 03:40:09 AM
#15
It's better to start doing research and comparisons between crypto projects to fully understand what makes one better than the other projects, start with top altcoins if it's a must to invest right now, remember, seeking for more knowledge and never stop learning is the way, good luck
member
Activity: 252
Merit: 29
Sovryn - Brings DeFi to Bitcoin
December 20, 2020, 03:38:33 AM
#14
Hello guys,

I'm beginner in crypto/BTC, never gambled or traded so far, I would like to have some advise from your experience to help my case.
Let's say I have some savings that I can afford losing, the sum is between $2,000 - $5,000.
The goal is to increase this balance on monthly basis (how much it's hard to say but 3-5% would be nice), a potential profit will go for buying goods to sustain my hobby (fishing gear).
Here the questions:
- what would be the best investment method you would recommend?
- linked to your recommendation, what tools/services you would recommend also (you need to balance the service/features with their fees if any)
- what service you would recommend to convert such crypto to USD or EUR?

I have paypal and EU bank account, I might consider opening a Revolut account or others that can be used to fund my paypal balance, any recommendations on this strategy. are welcome. I don't care (yet) about privacy, in case it's needed, I can declare my extra income to our government finance (so to pay tax based on the declared profit).

I apologies in case you've answered such questions dozens of times before, my personal study still continues.

thank you

Are you ready to invest with up to 5000$ or you are still trying to make the final decision? Pls understand that crypto investment is very risky and you will need lot of patience too to accomplish your goals, stay away from trading because that's even a new whole level of risky for a newbie, bitcoin is over 22000$ and you don't want to go in for that, too risky, what's presently left behind is altcoins, they haven't start surging yet so it's still a good entry point
legendary
Activity: 2114
Merit: 2248
Playgram - The Telegram Casino
December 20, 2020, 03:19:47 AM
#13
What I understood/interpreted:
- trading is the best option in case you would know what you're doing or if you're just a lucky person
- Electrum is the best wallet
- Binance is the best service to exchange BTC to USD / EUR
- mutual funds investment is best for beginners (some banks offer such alternate way of investments besides their deposits with yearly interest)
• I wouldn't call it the best option, but if you're really interested in it you can always combine it with hodling. Both have risks, but that of trading is significantly higher, especially if you're playing around with altcoins.
• Electrum is a highly recommend mobile wallet, if you plan on regularly moving your funds around. However for larger amounts which you plan on hodling long-term you should get a hardware wallet like ledger or Trevor.
• It's one of the top centralized exchanges, True. If you're more privacy inclined you can check out decentralized and peer-to-peer exchanges.
• This is down to personal preference Imo.

- I was thinking to trade 1-2 times a week or month, so a semi-passive way for making profit (like a bank deposit but with higher interest) => what's still your best recommended approach? (I still hope I won't get addicted to that method whatever it'll be to end staying online 12hrs/day)
People sometimes start off low risk when they venture into trading, but eventually go deep into it in search of more profits or when triggered by losses. Avoid getting emotional and only invest amounts you can afford to lose.
member
Activity: 178
Merit: 32
December 20, 2020, 02:18:49 AM
#12
Many thanks for your advices!
 
What I understood/interpreted:
- trading is the best option in case you would know what you're doing or if you're just a lucky person
- Electrum is the best wallet
- Binance is the best service to exchange BTC to USD / EUR
- mutual funds investment is best for beginners (some banks offer such alternate way of investments besides their deposits with yearly interest)

Further questions or clarifications that might be useful to give additional concrete recommendation:

- it's no rocket science that buying low selling high (but high enough to cover the service's fees + exchange fees) is the basic rule to get profit out of trading => according to your recommendation, Binance is the best here
- In my case I see trading like buying USD / EUR and selling whenever that USD or EUR will trend in a way to have profit => I wouldn't invest in a crypto that is not popular (so I would pick the TOP 3 crypto based on volume)
- I was thinking to trade 1-2 times a week or month, so a semi-passive way for making profit (like a bank deposit but with higher interest) => what's still your best recommended approach? (I still hope I won't get addicted to that method whatever it'll be to end staying online 12hrs/day)

Simply put, I have achieved most of my main personal goals in life, I get extra money from my monthly wage => I "don't know" what to do with such money Smiley On long term, the best case for me is to work less for my daily job (or just quitting) and spend more time for my hobbies / family -> I might think this crypto world can offer this?
legendary
Activity: 1904
Merit: 1563
December 20, 2020, 01:51:39 AM
#11
Try this out. Buy stablecoin, stake it on Binance savings, their current APY is 5% buv sometime tend to change and increase with your budget of $5k you can secure a 0.5 to 2% of that fund on monthly depends on the progress. I've specifically used their own exchange stablecoin busd and having a good and decent profit. But don't expect a big one's since this is just like saving on a bank with a higher percentage.
@cryptoaddictchie. I am interested with this one.

Well, I am currently exploring the Binance Savings platform and I am seeing various type of savings account, which one of these type are you talking about? I am planning to save some of my USDT that comes from the commission I get on doing freelancing works and I think it would be a good idea to stake an X amount of USDT per month which will serve as my emergency savings account that is based on crypto. Would you mind giving us some more information regarding your experiences?  I am seeig "Locked Savings" and "Flexible Savings".
legendary
Activity: 1372
Merit: 2017
December 19, 2020, 11:34:33 PM
#10
Well, you don't specifically mention it but I would do that if you already have something else saved/invested. I mean cash for emergencies and maybe some money in mutual or index funds. I wouldn't buy bitcoin if that was the only extra money I had.

I don't agree with dolar cost averaging as others have said. That strategy only helps you to deal with the psychological of investing. However, if you truly believe that bitcoin price will keep going up in the long term, as most of us do, the sooner you put all in your available money to invest, the better.
legendary
Activity: 2268
Merit: 1379
Fully Regulated Crypto Casino
December 19, 2020, 11:29:41 PM
#9
The goal is to increase this balance on monthly basis (how much it's hard to say but 3-5% would be nice), a potential profit will go for buying goods to sustain my hobby (fishing gear).
I've got a suggestion for you. This is so easy and more stable than trading. I've been into the bumpy road of trading and this is really not for beginner that could risk that huge amount.

Try this out. Buy stablecoin, stake it on Binance savings, their current APY is 5% buv sometime tend to change and increase with your budget of $5k you can secure a 0.5 to 2% of that fund on monthly depends on the progress. I've specifically used their own exchange stablecoin busd and having a good and decent profit. But don't expect a big one's since this is just like saving on a bank with a higher percentage.
legendary
Activity: 3696
Merit: 2219
💲🏎️💨🚓
December 19, 2020, 09:20:09 PM
#8
I would suggest you split your funds into two or even three pieces, the first you use for day-to-day trades (work out what your daily limit is beforehand) second chunk is to make a one off purchase of crypto - it could be just BitCoin, or a spread of other coins and tokens.  The third chunk of funds divide by 52, 26 or 12 and make weekly, fortnightly or monthly purchases in much the same way as the second option.

In twelve month's time you can compare which pays you dividends and which were too much bother for their own good.
legendary
Activity: 1904
Merit: 1563
December 19, 2020, 09:08:08 PM
#7
I think you need to know how crypto trading and how crypto behaves since you have the funds, I can suggest you join some legit ico's( initial coin offerings)
Though I agree with learning on how trading works and how it can actually produce a significant profit over time. However, I think it would not be a sound advice to let someone who is a beginner and has little to no experience to invest in ICO's. It can somehow produce some good results but the probability of finding a project that has a practical use cases and is not subjected to pump and dump is not profitable at all. It would take a lot of your time and resources in order to take advantage of those vapourware projects.


I agree with @jossiel though. Dollar cost averaging is the most basic strategy you can use to at least grow your momey over time regardless of bitcoin's price.

As for the tools you can just use Ledger Nano S and integrate it with Electrum to serve as your wallet interface after purchasing on a weekly or monthly basis depending on how you plan your DCA. $2k - $5k is a lot of money for me that's why I recommend using HW.

[1] https://www.investopedia.com/terms/d/dollarcostaveraging.asp
legendary
Activity: 2226
Merit: 6947
Currently not much available - see my websitelink
December 19, 2020, 08:58:49 PM
#6
HODL!

Trading is too risky:





I can suggest you join some legit ico's( initial coin offerings)
Especially for beginners, ICO is a very hot potato and many get burned. Unfortunately, ICO space is full of scam projects and successful ones are hard to spot, even for experienced members. ICO marketing is know as very fraudulent to deceive newbies.



https://coinmarketcap.com/ - what I do here is look for a coin that has potential and with their coins like posting updates that means there is development every day or updates, then try to look for the graph a tend to look on how long they were down, I'll always buy coins less than a dollar then hold them
but as I said you need to take the risk it doesn't mean you'll earn monthly with it.
Also very difficult for beginners to figure out which altcoins have potential. In general, it's very controversial if diversifying is a good idea in crypto. I've written a text about it, evaluating if diversification is really a good idea for newbies: Is diversification into different coins really a good advice for Newbies?
sr. member
Activity: 1106
Merit: 310
December 19, 2020, 08:26:10 PM
#5
I think you need to know how crypto trading and how crypto behaves since you have the funds, I can suggest you join some legit ico's( initial coin offerings) and try to study if there is a possibility to have returns or value, everything you do in crypto has risk I know you are already aware of that? coins tend to go down that will let you think that it will never go up.

Here are some of my suggested sites:

https://poloniex.com/ - trading
https://icodrops.com/ - for presale and coin offerings

Earning money monthly will depend on how you do your research, also try to look here

https://coinmarketcap.com/ - what I do here is look for a coin that has potential and with their coins like posting updates that means there is development every day or updates, then try to look for the graph a tend to look on how long they were down, I'll always buy coins less than a dollar then hold them
but as I said you need to take the risk it doesn't mean you'll earn monthly with it.
member
Activity: 70
Merit: 32
December 19, 2020, 08:21:29 PM
#4
One of the biggest issues that beginners have is that they think they can trade.  Best is to invest, not necessarily trade in the beginning.  One of the main reasons is because new investors in any market do not understand technicals or fundamentals, let alone margin trading.  As a newbie, do NOT margin trade - you will get wrecked. 
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
December 19, 2020, 06:10:02 PM
#3
Trading/day trading isn't ideal for beginners.

Here the questions:
- what would be the best investment method you would recommend?
- linked to your recommendation, what tools/services you would recommend also (you need to balance the service/features with their fees if any)
- what service you would recommend to convert such crypto to USD or EUR?
- Buying bitcoin and using the dollar cost averaging method.
- Tool like a wallet? I'd advise you download the Electrum wallet and store your purchased bitcoins there.
- You can use Binance
https://www.binance.com/en/trade/BTC_USDT
https://www.binance.com/en/trade/BTC_EUR

This is good advice.  You may also consider purchasing BTC directly through PayPal if it ever becomes an option for EUR folks and you are uncomfortable holding your own BTC.
hero member
Activity: 3150
Merit: 636
DGbet.fun - Crypto Sportsbook
December 19, 2020, 05:36:45 PM
#2
Trading/day trading isn't ideal for beginners.

Here the questions:
- what would be the best investment method you would recommend?
- linked to your recommendation, what tools/services you would recommend also (you need to balance the service/features with their fees if any)
- what service you would recommend to convert such crypto to USD or EUR?
- Buying bitcoin and using the dollar cost averaging method.
- Tool like a wallet? I'd advise you download the Electrum wallet and store your purchased bitcoins there.
- You can use Binance
https://www.binance.com/en/trade/BTC_USDT
https://www.binance.com/en/trade/BTC_EUR
member
Activity: 178
Merit: 32
December 19, 2020, 04:13:30 PM
#1
Hello guys,

I'm beginner in crypto/BTC, never gambled or traded so far, I would like to have some advise from your experience to help my case.
Let's say I have some savings that I can afford losing, the sum is between $2,000 - $5,000.
The goal is to increase this balance on monthly basis (how much it's hard to say but 3-5% would be nice), a potential profit will go for buying goods to sustain my hobby (fishing gear).
Here the questions:
- what would be the best investment method you would recommend?
- linked to your recommendation, what tools/services you would recommend also (you need to balance the service/features with their fees if any)
- what service you would recommend to convert such crypto to USD or EUR?

I have paypal and EU bank account, I might consider opening a Revolut account or others that can be used to fund my paypal balance, any recommendations on this strategy. are welcome. I don't care (yet) about privacy, in case it's needed, I can declare my extra income to our government finance (so to pay tax based on the declared profit).

I apologies in case you've answered such questions dozens of times before, my personal study still continues.

thank you
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