Topic: Long term investing - Newbie question (Read 303 times)
What better to invest and forget for five years?
Hi there, wishing to invest in the crypto markets however wanted to ask that if I'm long term investing in say Ripple, do I just buy it and stick it in my wallet or do I put it on the market and let it sit there? If it's on the market there's stop losses and take profits like FX trading?
Thanks
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Exactly what I want to do. Btc eth neo iota mon and dodge for at least two years.
Define "long term": for traditional value investing in stocks that could be 5-10+ years. Warren Buffett goes as far as saying his favorite holding period is forever. IMHO long term investing in crypto means hodl until moon or grave. In that case I think cold storage makes the most sense and sure you can keep a small fraction on your hard wallet (trezor etec...).
If you look at some of the top crypto hedge funds that state they want to be long term value focused, they aim to hold their coins for at least 10 years. Granted thing change very quickly in the space.
If you look at some of the top crypto hedge funds that state they want to be long term value focused, they aim to hold their coins for at least 10 years. Granted thing change very quickly in the space.
Don’t leave your ripple in exchanges for the long term, it is risky and better to keep ripple in a wallet you control. So far, the best wallet I know of is Ledger hardware wallet.
Make sure to choose a secure wallet and store there. Take it out only when you want to sell, but BUY and HODL would be your main tactic for now! 
Thanks guys for this. I got the nano s but transferring coins to the nano from chrome addons look terrible and some people have lost money. I'm waiting for btc to come down and then going to purchase a few thousand, I don't want them going missing because of some dodgy chrome extension.
If you are long team holder,then hardware wallets for you. It is secure but you have to afford some amount on that. other wise you can use pc wallet for storing coins. if you are think to get hold long term in online wallet,then only use wallet which have private key control with us.
Leave it in a safe wallet !
never store coins on an exchange for longterm holding.
And dont put all your eggs into one basket !
Diversify your Investment and stay safe
If you are looking for more Coins to invest , check out The best Coins to have in 2018
never store coins on an exchange for longterm holding.
And dont put all your eggs into one basket !
Diversify your Investment and stay safe
If you are looking for more Coins to invest , check out The best Coins to have in 2018
It depends on you some coins generate dividends when staked at their wallet.
So i'd suggest putting them on the specific wallet.
So i'd suggest putting them on the specific wallet.
Thanks. Appreciate it
get a hardware wallet, store your cryptos there and happy hodling.
Hi there again.
I believe that BTC is coming down to $9k, does anyone support this?
Also, just to clarify, if I buy XXX crypto and store offline, and the market goes up, then when I sell, I sell at market value not what I bought at? So make a profit.
Thanks in advance
I believe that BTC is coming down to $9k, does anyone support this?
Also, just to clarify, if I buy XXX crypto and store offline, and the market goes up, then when I sell, I sell at market value not what I bought at? So make a profit.
Thanks in advance
I created some secure paper wallets and I split my long-term coins into these wallets. I never store my coins on exchanges, because I have learned from previous experience that these exchanges is the weak link in the chain.
When you want to trade with these coins, you quickly sweep some coins on-chain and you transfer them to the exchange. This will eliminate the risk of losing large amounts of coins in exchanges that gets hacked.
I have to admit, I do keep small amounts on exchanges, just to play around and to capitalize quickly, when there are a small spike. ^smile^
When you want to trade with these coins, you quickly sweep some coins on-chain and you transfer them to the exchange. This will eliminate the risk of losing large amounts of coins in exchanges that gets hacked.
I have to admit, I do keep small amounts on exchanges, just to play around and to capitalize quickly, when there are a small spike. ^smile^
If you plan on long term holds I would take it off the exchange as many others have stated meaning you won't be able to place stop limit orders. Unless there is a way to sell directly from your wallet without being in an exchange that I am not aware of. If you plan on doing short term trades, swings trades then I'd leave that portion of coins or tokens on an exchange for quick trades.
The problem now with many day trades is keeping track for income tax purposes. Last year it was easy, but now it's harder at least in the US Lastly, trades slowly take away money because the exchange fees slowly add up over time. Long term is definitely the safer bet if you indeed plan to hold for a year or more.
The problem now with many day trades is keeping track for income tax purposes. Last year it was easy, but now it's harder at least in the US Lastly, trades slowly take away money because the exchange fees slowly add up over time. Long term is definitely the safer bet if you indeed plan to hold for a year or more.
Everyone is correct in pointing out the need for a crypto wallet like the nano ledger. If your wallet is online it can be hacked. A hardware wallet is offline most of the time and your private keys are stored on it in such a way you won't even know what the keys are (unless you really want to). This is great because the wallet keeps things idiot proof. You don't have to worry about someone getting the private keys out of you because you won't even know them!
Thank you.
I've heard bad things about coinbase. I use localbitcoins.
I go from BTC to ETH to the crypto's I want to purchase?
I was informed to only trade in BTC and not local currencies due to losses etc. So BTC to
coin, not GBP to XRP etc.
I've heard bad things about coinbase. I use localbitcoins.
I go from BTC to ETH to the crypto's I want to purchase?
I was informed to only trade in BTC and not local currencies due to losses etc. So BTC to
coin, not GBP to XRP etc.If you want to buy other cryptos, which many people refer to collectively as "altcoins," you will need either BTC or ETH to purchase them with. Most altcoins trade against BTC and ETH. So usually people will buy BTC with cash in their local currency, and then send BTC into an exchange to trade for altcoins.
Some altcoins can be bought directly with fiat (regular money) on some exchanges, but you usually are required to go through a lengthy verification process with the exchange.
In my personal experience Coinbase has been very easy to use, it's one of the easiest way to purchase BTC/ETH/LTC, only thing though is that you will have to wait over a week until you actually have the crypto in your wallet. You can also do an instant buy with a debit/credit card for smaller amounts of crypto that are available to use instantly.
Only wallet. Exchange could be hacked or scammed
Everything that I am holding goes in my wallet. I keep some crypto in my exchange for trading purposes.
yea long term i always store mine on a ledger hardware wallet
Thank you.
I've heard bad things about coinbase. I use localbitcoins.
I go from BTC to ETH to the crypto's I want to purchase?
I was informed to only trade in BTC and not local currencies due to losses etc. So BTC to coin, not GBP to XRP etc.
I've heard bad things about coinbase. I use localbitcoins.
I go from BTC to ETH to the crypto's I want to purchase?
I was informed to only trade in BTC and not local currencies due to losses etc. So BTC to
coin, not GBP to XRP etc.
If your going to keep a crypto for years, you might want to look into a hardware wallet like a Trezor or Ledger (Blue / Nano S)
And think of it like a stock, you can remove it from the wallet and onto an exchange to trade it for either another crypto or fiat.
Not sure why your initial post was purchasing Ripple though as that it typically not a crypto one usually would start out with. (IMO)
And think of it like a stock, you can remove it from the wallet and onto an exchange to trade it for either another crypto or fiat.
Not sure why your initial post was purchasing Ripple though as that it typically not a crypto one usually would start out with. (IMO)
Yes, although it seems to be easier to buy in the UK thank to convert back to GBP.
For instance with Coinbase you can send GPB via your credit card, but you can only get Euros back to a bank account, so you are at the mercy of bank fees and exchange rates. However you could use a service like Local Bitcoins, to buy and/or sell.
In answer to your original question, you are better to store off an exchange.
For instance with Coinbase you can send GPB via your credit card, but you can only get Euros back to a bank account, so you are at the mercy of bank fees and exchange rates. However you could use a service like Local Bitcoins, to buy and/or sell.
In answer to your original question, you are better to store off an exchange.
Thanks. Just wanted to clear up that if I buy £1000 btc and store offline and leave for a few years, assuming the price goes up I can sell my btc at the going rate?
I have about 8 to invest in.
I have about 8 to invest in.
If you want to invest for a long time then never trust on any exchange, never save any amount on any exchange for a long period, Always move your coins in your wallet and backup your wallets as well.
Cuedoc, you in the UK?
Hi I'm brand new to this but relatively intelligent. I could use some newbie pointers as I'm sure many could. Any advice at all from some veterans in the market that have done well? Maybe even just a thread to go read for newbs.
Thanks guys, appreciate it.
Got a nano s wallet so ready to go, I'm in the UK so it's just a case of finding the best place to buy. Looking to buy tokens too like IOTA and a few others.
Got a nano s wallet so ready to go, I'm in the UK so it's just a case of finding the best place to buy. Looking to buy tokens too like IOTA and a few others.
Is there any wallet I can use my smartphone as hardware for?
If you are investing for the long term, we recommend saving your coins using offline wallet. I think it's very safe.
If you are in long term, I suggest you take it off exchange and put it in Ripple desktop wallet.
I would also suggest you to invest in DeepOnion. It's a privacy coin and has a lot of potential. Soon it will be in top 10. Take a look at it.
I would also suggest you to invest in DeepOnion. It's a privacy coin and has a lot of potential. Soon it will be in top 10. Take a look at it.
The coins I don't trade with are on my Ledger wallet. Only short terms stay on and exchange.
If you're in it for the long term, there's no point in storing the currency on an exchange. Apart from being unnecessary, it is also unsafe. If you can afford a hardware wallet, I would recommend that. If you're investing every single penny you own, then printing a paper wallet might be a good alternative.
Hi there, wishing to invest in the crypto markets however wanted to ask that if I'm long term investing in say Ripple, do I just buy it and stick it in my wallet or do I put it on the market and let it sit there? If it's on the market there's stop losses and take profits like FX trading?
Thanks
Thanks
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