Minimum investment amount in an ALT to make it rich?

Ebenezar64

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Quote from: cheezcarls on January 28, 2018, 06:58:30 AM

My gameplan for buying ALTs is to diversify short, mid and long-term investments. The minimum investment really depends on you (unless there's an ICO that requires a minimum investment).

I usually categorize long-term investments for cryptocurrencies and ICOs that are having a great project concept, whitepaper and roadmap. Few of my altcoins are now set for long-term run, while other cryptos that I have will be for short and mid-term combined.

It is crucial sometimes to decide what altcoin should you pick to invest and hold for short, mid and long-term.

So what are your short-term projects and what are the "flips" you are trying to make on them?

I think the short-term gains are so hard to find, I mean maybe if you look at when conferences and such are planned to happen but with the crypto space being so volatile I think it is easier betting on the long-term projects imo.

cheezcarls

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Looking for gigs

My gameplan for buying ALTs is to diversify short, mid and long-term investments. The minimum investment really depends on you (unless there's an ICO that requires a minimum investment).

I usually categorize long-term investments for cryptocurrencies and ICOs that are having a great project concept, whitepaper and roadmap. Few of my altcoins are now set for long-term run, while other cryptos that I have will be for short and mid-term combined.

It is crucial sometimes to decide what altcoin should you pick to invest and hold for short, mid and long-term.

Ebenezar64

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Activity: 210

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Seems like it is almost time for the market to turn around. ALTs are in the green as well as BTC so I hope you have found your "gems" that will get you the 50-100x. I managed to get some cheap BitCLave and DeepOnion which I hope can be my way to "rich" in 2018.

I see many saying there is not any "minimum" investment and partly that is true since you should never risk more than you can, but personally, I aim to set minimum 100-500$ in a coin I believe in to get the big profit in case of the big gains. But instead, I have fewer coins that I invest in.

Dread Pirate Roberts

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No minimum for spend altcoin when we spend money to crypto we will definitely check it out some time once.
when it has reached lets say 1000% alone may have been immediately sold. so I personally prefer to look for other opportunities when profits are made.
but if you really intend to invest for a very long time maybe you can set aside some to see the miracle of the coin that you believe it.

Ebenezar64

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Quote from: BitcoinHodler on January 26, 2018, 08:01:30 AM

that is basically what i have been saying so far and it is why i find the notion of "portfolio" really dumb and despite all of this, it is becoming like a trend. people keep buying a LOT of altcoins and even use applications (portfolio managers) to list them and see their money change up and down!!!

that is completely absurd. the biggest problem i see is keeping track of all of it. as an investment you need to follow your asset, in this case the coin. whether it is following the news and development or simply following the price on charts and analyzing it using volumes,... it will take a long time and the more coins you have the more impossible it becomes.
it is practically impossible to trade and make profit with that many altcoins in your "bag".

i say portfolio is a new word for bag holder. Wink

and to answer your question i have to say you should never think about getting rich. even if you want to think about it, you should also think about getting poor because that is the other side of it when you invest recklessly. the words "never invest what you can't afford to lose" are not said for nothing.

all liked the strategy that you laid out here though. that is mainly what i do too. but it mostly depends on how much time i have. i usually go with only 2 coins tops and with a small amount of bitcoin

Thanks for your input and I admit that you got a valid point. I am not trying to do "day trading" to get rich but by analyzing prospects in coins to see if they have good gain potential.
Day trading is one strategy to make it rich and I have tried it but it didn't go well for me.

Someone mentioned that you shouldn't try to "make it rich" because you must manage your risk and investment. I see it as somewhat of a gamble, cryptos that is, but I make sure not to invest more that I can loose. That is why I want to find as small a "gamble" investment as possible but still make my goal of "rich".

What coins are you looking at for the 50-100x gains in 2018? (Ignoring ICOs for the moment)

iqlimasyadiqa

legendary

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Quote from: Jackblack90909 on January 26, 2018, 08:15:41 AM

I think there is no minimum investment amount in an altcoin to become rich. Trading crypto currencies isnt stable at all, and unless the most powerful coins and tokens which have the prices rising slowly by time, the other coins haven't good value nor real potential.
You have to study carefully the coins to trade, and the market of course.

Yes it is true that there is no minimum limit in choosing altcoin to serve as an investment. the important thing is we can choose the right coin, because with the selection of the right coin then we can get the benefits of multiples. Make sure that we can choose a coin that has good prospects.

Jackblack90909

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I think there is no minimum investment amount in an altcoin to become rich. Trading crypto currencies isnt stable at all, and unless the most powerful coins and tokens which have the prices rising slowly by time, the other coins haven't good value nor real potential.
You have to study carefully the coins to trade, and the market of course.

BitcoinHodler

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HODLing is an art, not just a word...

that is basically what i have been saying so far and it is why i find the notion of "portfolio" really dumb and despite all of this, it is becoming like a trend. people keep buying a LOT of altcoins and even use applications (portfolio managers) to list them and see their money change up and down!!!

that is completely absurd. the biggest problem i see is keeping track of all of it. as an investment you need to follow your asset, in this case the coin. whether it is following the news and development or simply following the price on charts and analyzing it using volumes,... it will take a long time and the more coins you have the more impossible it becomes.
it is practically impossible to trade and make profit with that many altcoins in your "bag".

i say portfolio is a new word for bag holder. Wink

and to answer your question i have to say you should never think about getting rich. even if you want to think about it, you should also think about getting poor because that is the other side of it when you invest recklessly. the words "never invest what you can't afford to lose" are not said for nothing.

all liked the strategy that you laid out here though. that is mainly what i do too. but it mostly depends on how much time i have. i usually go with only 2 coins tops and with a small amount of bitcoin

dunfida

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So my question to you all is:
- What is the minimum investment (in 2018) that you think will be needed to "make it rich"?
Just need logic for you to answer this thing. The more capital been putted the more chances on getting rich

In order to answer this please consider the following:
- What could be a possible gain on an ALT in 2018? (Will it be as high as some gains in 2017?)
Since most top alts are already being pumped then most of them will have x3-5 ranges but for newer and potential ones then it would be the same chances.

- Will it be necessary to invest in the ICO to get the really big gains or can one wait until after ICO release?
I do usually wait for coins which are being listed already on exchanges before tending on making some investments.

- What sum of money do you consider rich?
Depending on which country you do live since we do have different standards of living.

Sowik

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If you have the time and patience to wait its pretty easy to make profit. I would do this but Idont have the time...

3DBrushes

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More than hard work luck also matters here and only one coin or one ICO can change your whole life. ICOs like ICON have more than 55X returns for investors. Just say you had invested $5000 in ICON and now you would end up with $275000 that too within 4 months. In my country owning this amount of money is definately considered as rich.

Dreamchaser21

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Its not easy to become rich, we really need to work hard but still no assurance. There is no specific minimum investment but if you really want to make good profit try to invest a little bigger, but the hard thing to do here is choosing the right coin which can give you at least 50% profit, for me education must come first because even if you are holding great coin but if your emotion is weak you will still loose money.

cryptoblue77

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I think You can start altcoins trading with a minimum amount of $200. But you have to choose the right coins, so that you can make x100 or x200. Just buy two altcoins and hold it for at least a year or more.

Manchumichael

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Quote from: serjent05 on January 26, 2018, 05:14:47 AM

I think there is no minimum investment on alt to make you rich. It is hard to speculate and even harder for speculation to come true. Though I believe that with right investment, the amount of 0.01 BTC can yield us an amount of 10 BTC or more simply by picking up the right coin that will skyrocket this year. One sample is XRP, those who bought 0.01 BTC of XRP when it was less than 100 satoshi definitely gain a huge profit because it goes up to more than 20k sats and Bitcoin increasing to more than 10x last year.

You are right but how to pick the right coin that will skyrocket this year? Last year there were many coins went too high. XRP, NEO, NEM, Waves etc. I also made a good profit in XRP, Waves and NEO. But this year it is very hard to pick new coins, lots of coins are there only thing we have to do is we can pick some coins which are on top 20. If you have luck, you can reach your target.

serjent05

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I think there is no minimum investment on alt to make you rich. It is hard to speculate and even harder for speculation to come true. Though I believe that with right investment, the amount of 0.01 BTC can yield us an amount of 10 BTC or more simply by picking up the right coin that will skyrocket this year. One sample is XRP, those who bought 0.01 BTC of XRP when it was less than 100 satoshi definitely gain a huge profit because it goes up to more than 20k sats and Bitcoin increasing to more than 10x last year.

Ebenezar64

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Merit: 14

Quote from: adaseb on January 26, 2018, 04:40:36 AM

Basically here is how it works.

Due to leverage trading AND high volatility, you don't need much money to make alot of money.

For example say you bought BTC at $1000 earlier in the year and sold at $20000 last month. You would of made $19000 profit per coin.

If you used Bitmex and longed at 100x leverage, your 1 BTC would of bought 100 BTC worth and you would of made almost $2,000,000 in profit just with $1000 investment.

Yes I know about leverage and futures and from what I have seen they can be useful to "hedge" against different outcomes. I am not sure if using leverage is only good for making it rich since there are big risk.

1. If you use leverage (say 100x) on your initial investment and not in futures trading but pure leverage. Then you are only risking you initial investment: say 1000$. The leverage means that if BTC goes up 2x you have earned 200x -> WOW. But it also means that there is a stop loss on the elverage, that if it goes down by 1% which is x100 -> that is your whole investment gone. As volatile as the crypto market is this is not a risk I want to take.

2. As for the futures case. Then if you buy a futures contract for 100 BTC at (today $11k) and when it falls out it is $20k then you have made 900k$. But if it goes down to $1k then suddenly you owe 900k$ according to the contract.

So I am not sure if it is me or you who don't fully understand the leverage and futures market but I know for sure that it is at least as high risk as betting on smaller crypto coins.

adaseb

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Basically here is how it works.

Due to leverage trading AND high volatility, you don't need much money to make alot of money.

For example say you bought BTC at $1000 earlier in the year and sold at $20000 last month. You would of made $19000 profit per coin.

If you used Bitmex and longed at 100x leverage, your 1 BTC would of bought 100 BTC worth and you would of made almost $2,000,000 in profit just with $1000 investment.

Beerwizzard

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Quote from: Ebenezar64 on January 26, 2018, 04:31:17 AM

What I am talking about here is to know your end goal. If you start out with 1-2k$ and your aim is to "be rich" (say for you that is 100k$). Then the 10-20 coin approach will probably not get you there anytime soon. In that case I agree that you should focus on maximum 5 coins and hope" to make it big on one or two of them.

Then another important advice is not to make any goals for your investments. It is a psychological thing. When a human is making a goal for himself he is more likely to ignore some serious facts during his analysis. For example if a you have a goal of holding a coin untill it will grow up to 50$ you will definetely miss its peak at 30$ when something serious happened and the coin rushed down. Especially if you are not an experienced investor.

Ebenezar64

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Quote from: Beerwizzard on January 26, 2018, 04:00:40 AM

First of all 10-20 coins is too much. I would advice to take around 5 coins. Concider the amount that you will be able to track an check the news. The amount of money needed to be rich is pretty relative. For someone it is enough 50k$ but for another people even 50mln$ is not enough. The starting amount can be easily calculated. If you are skilled / naive enough to think that you will make x50 of your portfolio then your 1k will become 50k which is still not that much. It is not that easy to get rich.

If it was easy then everyone would be rich by now

.

If 10-20 coins is too much or not again depends on what you are trying to do. If you want to diversify your risk and hopefully keep a steady gain (while investing some in you "up and comers") then I think that is a fine approach.

What I am talking about here is to know your end goal. If you start out with 1-2k$ and your aim is to "be rich" (say for you that is 100k$). Then the 10-20 coin approach will probably not get you there anytime soon. In that case I agree that you should focus on maximum 5 coins and hope" to make it big on one or two of them.

But if you start out with 50k$ and you aim to make 1M$ then I think diversification among 10-20 coins is absolutely fine. But again, you won't then put in 30-40$ in a coin and spread it out among 100-200 coins since then you will probably never reach the 1M mark.

So I am looking for, what is a reasonable "minimum investment" in an ALT in order to reap the "big rewards"? My conclusion was around $500. What is yours?

Beerwizzard

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First of all 10-20 coins is too much. I would advice to take around 5 coins. Concider the amount that you will be able to track an check the news. The amount of money needed to be rich is pretty relative. For someone it is enough 50k$ but for another people even 50mln$ is not enough. The starting amount can be easily calculated. If you are skilled / naive enough to think that you will make x50 of your portfolio then your 1k will become 50k which is still not that much. It is not that easy to get rich.

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