Is it advisable to invest on Solana? - page 8.

@sriyan

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Quote from: Chriskelani on April 19, 2023, 05:27:28 AM

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

Please don't hold altcoins for a long time investing. If you want to hold for a long time, invest in bitcoins. Other projects will die slowly. When it comes to your case, Sol has some good fundamentals. but it does not have good network stability. It is more centralized rather than decentralization.

TastyChillySauce00

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Quote from: fat buddah on April 20, 2023, 11:29:18 AM

I don't see it as a good idea. Last year it was hacked, and most likely it won't be the last time.

The smart developers will be learning from not to be trapped into the same hole again. solana may have some bad stories last year but nothing happened till this time. Solana is still safe. i think that the old hack is not even related to the blockchain. It's about 3rd party who can't properly handle its platforms. It was affecting so many wallets in the past but it seems like that this time it's quite safe to pick solana as investment.

The bad story will always there for any platforms as long as developers were learning from what happened in the past and i think that it's not a problem to use solana as investment.

AakZaki

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For a long time, haven't you thought about it, why buy solana coins. Isn't Bitcoin the best choice for the long term. Long-term investment in altcoins still has a fairly large risk, just look at some of the top altcoins that eventually became scams and have been abandoned.
different if you invest in Bitcoin, it will be safe enough for the long term and it has been proven. Don't choose the hard choice, just Bitcoin and without any research for the long term.

inanilujimi

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What made you interested in Solana??
Was it because of the technology?
or the price??
Did you know that Solana has experienced outages on its network.
I used to be very optimistic about solana but for now and in the future there are many more competent competitors in my opinion.

ethereumhunter

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The only thing you can do to find out if Solana is a good investment or not is to do some research. Maybe it's a good idea. Maybe it's not a good idea. But if you accept the risk after getting more info about Solana, you can immediately invest in Solana while the price is still not high. But we all don't know how Solana will develop in the future, so we can only warn you always to be careful and not use the money you can't afford to invest.

southerngentuk

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Quote from: Chriskelani on April 19, 2023, 05:27:28 AM

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

I cannot provide investment advice as it is a highly personal decision that depends on your personal circumstances, risk tolerance, and investment goals. It is important that you do your own research, understand the risks involved before making a decision, and ensure that investing in Solana is a good fit for your overall investment strategy. In summary, you should carefully consider your personal circumstances and investment goals before making any decisions about investing in it.

fat buddah

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I don't see it as a good idea. Last year it was hacked, and most likely it won't be the last time.

Reatim

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Quote from: Chriskelani on April 19, 2023, 05:27:28 AM

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

Maybe best to answer this question also "Why SOLANA" mate? there are thousands of crypto currency in exist and many are in good position now, so why SOL?

But about investing in this coin? I think you are good to go but for long term? am not sure about that.
there are so many things to consider and sol has issues need to fix before being trusted .

firesurfer

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Regarding the price line, I have no opinion.
About technology, Solana is like a book that is written on top of it and gets thicker and heavier. In 2021 the Solana chain had many stops for repair due to overload.
Regarding the investors behind Solana, I believe many large funds have not yet disbursed their tokens in seed rounds. So let's hope they pump Solana again. For me, this possibility is not high.
FTX has recovered $7 billion and is ready to reopen at an appropriate time. I don't hope much for the return of the FTX exchange when their CEO is being convicted.
Overall, this is not a good project to invest in.

cryptomaniac_xxx

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It seems though that Solana to me has reach it's peak during the last bull run.

So not sure if it can duplicate that success later or there will be new coins that will come in and then become the latest hype and overcome Solana. We all know how tough is the competition right now, with a lot of good projects also wanting to take that big slice out of the billions that investors are putting money in the altcoin market.

Hard to say right now, it's really up to the OP to make the right decision here.

TheUltraElite

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So anyway, I applied as a merit source :)

Tough to say whether it is a good investment or not. There are users here are supporting the project and they have their own views on its future. While Bitcoin maximalists have their own narrow but safe view.

It would not hurt to pick up a stash of Solana for future if you have cash at hand to spare following regular buy low rules. Nobody believed etherum when it first came up but look at its price now. Since Solana has been here for long, you should give it a try but only after you have enough BTC at hand.

TravelMug

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Quote from: Chriskelani on April 19, 2023, 05:27:28 AM

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

It's really hard to give financial advises here.

If there is one advise I can share, it's that you have to DYOR (Do your own research) about the project that you want to invest. Maybe someone will advise you to put huge amount of money in Solana because they are a holder of it. Or someone will sway you against this project because they have other coins in their portfolio. So the best thing to the OP and for those others as well, it's your money that you are going to gamble in the market, so just make sure you invest it wisely on the project that you have studied and look, just saying.

poodle63

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It's good decision. People are always putting FTX as main concern while FTX was only owning some tokens which already liquidated. Solana is coming up again. It's the time to buy it at the cheap price. Let those who scared about FTX to avoid this project. The fact that if solana is still included in the top 100 projects. This project can rise up again as long as there will be another good reason like bullish trend. The price already pumped from the bottom.

It's good for longterm.

GreatArkansas

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Quote from: electronicash on April 19, 2023, 11:54:37 AM

the token is still rising up though we have learned that this is only pumped by FTX. i thought SOL was over after the FTX scam but it's still recovering.
(....)

You got a point here, after what happened to FTX Exchange, I started to sell my Solana for other altcoins like layer 2 tokens.
And add also their network outage, because it was not the only 1 time that happened, it already happens multiple times.
Yes, the transaction fees on Solana are extremely cheap and fast, I tried the Solana network for quite some time especially participating in their DeFi platforms.

Fatunad

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Quote from: Chriskelani on April 19, 2023, 05:27:28 AM

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

Here's some nice news about SOL.
Solana on-chain and derivatives data highlights the limitations of SOL’s potential price breakout
Source: https://cointelegraph.com/news/solana-on-chain-and-derivatives-data-highlight-the-limitations-of-sol-s-potential-price-breakout

I dont have any doubts when it comes to Solanas potential which i could say that it is really that something worth to be holding on.
This is why if you do make this coin part of your port then go ahead.

TastyChillySauce00

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The only yourself can determine whether it's good or bad, since solana ATH was three digits and it's time if it's now still two digits and the chance to go up is quite high at this moment. I would not be surprised to see that if solana will able to go back again to the three digits if bullish trend will come again soon. Solana is as good as major coins in the market. It's also having a very big ecosystem at this moment too. There's no doubt that solana will be reaching another ath soon.

People are still actively using it. It has hundreds of thousands of users at this time. Buy when it's still low sell when it's high.

Questat

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Quote from: Chriskelani on April 19, 2023, 05:27:28 AM

Hello buddies, I am considering buying Solana coins and holding for a very long time. I want to know if this is a good idea before forging ahead to buy it.

Thanks for your responses.

Well, the performance of this project is quite convincing but we're not sure how it performs in the next few years especially when your intention is to hold them long-term. I may say it was one of the lists for many investors but holding them should also depend on how it performs. Unlike when choosing ETH or Bitcoin, you can really have peace of mind holding them for many years but in this project and of these several altcoins, it was hard to assume that they will turn good just like what they have currently shown to us.

NdaMk

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Quote from: electronicash on April 19, 2023, 11:54:37 AM

the token is still rising up though we have learned that this is only pumped by FTX. i thought SOL was over after the FTX scam but it's still recovering.

the bottom price i think was close to $10, which could have doubled your money if you invested while it was happening. i will still say avoid investing in this SOLANA project knowing that FTX/Alameda is associated with this project.

The coin continues to grow as bitcoin increases and has found his way into the top 10 Alticoins list but just like you said it will be huge gamble to invest on it considering that FTX wants all there coins back. There’s the Ren token that is currently in crisis because FTX also heavily invested into it. So it is best to keep off Solana for now or just gamble on.

electronicash

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the token is still rising up though we have learned that this is only pumped by FTX. i thought SOL was over after the FTX scam but it's still recovering.

the bottom price i think was close to $10, which could have doubled your money if you invested while it was happening. i will still say avoid investing in this SOLANA project knowing that FTX/Alameda is associated with this project.

siniminomorocomunisakito

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Buying Solana (SOL) and keeping it for the long term can be a good investment strategy if you have confidence in the potential of the project and its ability to solve real-world problems. SOL is a cryptocurrency that aims to provide a fast, secure, and scalable blockchain infrastructure that can support a wide range of decentralized applications and I guess this too Keep in mind that the crypto market is very volatile, and SOL prices can fluctuate significantly in a short period of time. So it is important to have a long term investment horizon and a strong risk management strategy.

Topic: Is it advisable to invest on Solana? - page 8. (Read 1398 times)