Topic: My First Investments - page 5. (Read 838 times)

LogitechMouse hit the nail on the head. Do your research. If you haven't done your research, and understand why a particular investment should be successful, you're setting yourself up for failure. You wouldn't go down the street, and invest in a hot dog stand, if you didn't know how busy it was, so why would you do the same with other investments?

I personally didn't really understand the potential of Bitcoin until months, maybe up to a year of using it. I was just using it for a side gig. I basically looked for an alternative to the traditional payment processors like Paypal, simply because I was earning gift cards on a phone at the time, and wanted to sell them. That's basically it, so I was not looking to make millions. Then, as time went on I started to learn a little bit more about it, and that was that. I've now developed a sort of belief system that the world will always need something like Bitcoin. If you care about privacy, and not relying on third parties, you'll need something like Bitcoin. It gives you the freedom. Although, at first I was probably a little bit too young to actually understand the importance of that.

Plus, having a few problems with banks blocking payments, such as a trip I wanted to go on, and then having the hassle of sorting that out; that's basically what drove me to Bitcoin, and ended up becoming a massive part of my life. My investment has already paid off, and not completely via monetary gain, simply the freedom I've achieved over my money has been priceless.

Welcome to the Forum .

I will only share my own experience and what I did from the start. I also have some money when I first started involving myself into crypto (around 3rd quarter of 2017) but as a newbie at that time, I chose to do some research, learned the basics of crypto especially Bitcoin, watched videos etc. etc. and while I'm learning, I already know which coins should I invest at that time but to be safe since it's my first time, I only invested into Bitcoin then expanded, saved some money and tried to invest into other coins.

$1000 is a huge amount (at least for me) but instead of investing into cryptocurrency first, at least gain some knowledge and make some research and learn at least the basics as well. It will help you decide which coins will you buy. Well, if you're really that eager to invest into cryptocurrency, then I suggest 40% into Bitcoin and 60% into Ethereum. This is a safer approach since these 2 coins are at the top 2 spot for a very long time already. If you want a riskier approach, then maybe try to buy those at the top 10 coins, but I suggest research first. This is my opinion only and I know other users here have different opinions.

Good Luck.

If you want invest in Altcoins. But in the past it was always a gamble since even if the value goes up faster than BTC it also goes down faster again.

If you like, you can diversify, but see altcoins like you are gambling, many of them may not reach all-time-high and they are highly volatile and riskier.

If you want to hold for long period of time like 2 or 3 years, you can invest in bitcoin. If the price sink down further, do not panic to sell. A time is coming you will be happy you invested in bitcoin.

Diversifying doesn't mitigate the risk at all. If you invest that 60% into a poor investment, then you'll lose out. In fact, I'd argue due to having the majority invested in various different things, there's more risk. For example, you invest 60% into ten different altcoins, well most altcoins are absolutely not worth even talking about. The vast majority, and I would go as far as saying 95-99% of altcoins end up failing. So, while you've diversifying into altcoins, you have a very low chance of those altcoins being successful. Plus, it's almost guaranteed you'll lose money if you diversify into that many altcoins, simply because 95-99% fall flat on their face.

Personally, I'd just stick whatever you can afford to lose into Bitcoin. The rest that you aren't sure about, keep in fiat. Bitcoin is definitely the most promising out of any other altcoin out there, and I personally believe the best investment someone can make.

I believe its better than property, the only reason I'd pick property over Bitcoin is if I wanted to move or didn't have a home yet. Since, that satisfies two needs, rather than just being an investment. If I had a home, and was investing solely for profit, Bitcoin all day without any question in my mind.

This might just be the perfect time to invest into Bitcoin, if you plan on holding it long term, or at the very least a year after the next halving.

I am a newbie and would like to invest $1000 to start. I have read that I should put 40 percent into bitcoin and diversify the other 60 percent. I need opinions, advice, and anything from those with experience of positive value.