Topic: I want to invest 1000 USD into crypto - page 10. (Read 2935 times)
Like some of the advice given here Im with the invest straight into BTC camp. There were a lot of people who didnt do it because they were thinking that BTC's price was too high. But if they did it for $1000 starting on January of 2016, their investment would be about $10,000 by now. In 5 years it could grow 5 times more.
Sorry to say but cloud mining is no more profitable for the ordinary investor. In these days cloud mining sites are either end up as a scam or in the loss making companies. Thus I would strongly advise you, avoid it.
You can directly invest your $1,000 through diversified investment method and go with Bitcoin as well as some promising alt-coins. I haven't tried actual mining with hardware of my own so I am not eligible to comment in that regard.
You can directly invest your $1,000 through diversified investment method and go with Bitcoin as well as some promising alt-coins. I haven't tried actual mining with hardware of my own so I am not eligible to comment in that regard.
Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ?
buy mining equipment: not a bad idea if you have a cheap electricity, have some space in your home to place the rig and do proper cooling and also if you know how to maximize your profit by mining the better coins and dump them on good time.cloudmining: a big ass NO.
buying coins directly: this is a good option too. it doesn't have to be a separate one either. you can mine and also invest. buy bitcoin first and always have some of it held somewhere safe. specially now that there is a dip it makes a good time to invest for long term. and also start trading altcoins to know them better, it helps with choosing what to mine too.
Quote
What cryptocurrency might be the best for long-term profit ?
long term? only bitcoin.Quote
I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.
start small, you can only get the answers you want if you experience the market. start trading and learn how it really works. it is a good market to make a decent profit. Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.
Buy bitcoins, put them in cold storage and forget about it. Mining rigs are expensive and there are running costs (primarily electricity) as well. Plus it is no longer a profitable model for small players.
I think its really expensive to start mining and all because of course you would also pay you electric bills for that and most of them would say it would really cost a lot of money. Why won't you do trading instead, it is risky but less risky if you go for long term trading.
Since a fork happened in bitcoin,it is already reached apex point of its value.Though it is not indicating the consequence of imagined profit investing in it for now.
At the moment my consultation is to invest in ethereum.This coin is growing next to bitcoin and might be the best for long-term.
Do not go for cloud mining projects,in this way you will loose your whole budget.
At the moment my consultation is to invest in ethereum.This coin is growing next to bitcoin and might be the best for long-term.
Do not go for cloud mining projects,in this way you will loose your whole budget.
Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.
Jump to: