Newbie looking for advice - page 2. | Bitcointalksearch.org

Silberman

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Quote from: Hypnosis00 on November 18, 2019, 04:52:33 PM

Quote from: shurcat on November 05, 2019, 06:16:25 AM

Hello all;
I used to have a little btc which sold and use in 2017-2018 , i had lost a good portion of it trying to profit trading with altcoins (bad option).
Now a days i dont have any crypto as i have used the crypto i had in 2017-2018 as my principal funds, i spent it on good and cash out the rest ( a little at a lost but i needed that money) as a student ive used it as my principal money.

Trading isn't a bad option for me mate. The only thing that I've to look to this situation is your altcoins selection for trade and (maybe) you're not choosing potential altcoins in the market. It can be a big loss to our end if we badly choose altcoins. But the worst thing happens to you is that you bring it entirely to altcoins which are supposed to make share it to bitcoin. Then, too hope that you have learned something from this and for your future reference as well.

But he already lost a good portion of his money what he tried to trade during 2017 and 2018, and that is worrying because if you have not learned anything from those days it is very likely that you are going to repeat the same mistakes again, so before anyone begins to trade after they had lost a significant portion of their capital they need to make a very deep research about what happened and why it happened otherwise the same will happen again.

Hypnosis00

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Quote from: shurcat on November 05, 2019, 06:16:25 AM

Hello all;
I used to have a little btc which sold and use in 2017-2018 , i had lost a good portion of it trying to profit trading with altcoins (bad option).
Now a days i dont have any crypto as i have used the crypto i had in 2017-2018 as my principal funds, i spent it on good and cash out the rest ( a little at a lost but i needed that money) as a student ive used it as my principal money.

Trading isn't a bad option for me mate. The only thing that I've to look to this situation is your altcoins selection for trade and (maybe) you're not choosing potential altcoins in the market. It can be a big loss to our end if we badly choose altcoins. But the worst thing happens to you is that you bring it entirely to altcoins which are supposed to make share it to bitcoin. Then, too hope that you have learned something from this and for your future reference as well.

FrankNoland

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Quote from: shurcat on November 05, 2019, 06:16:25 AM

Hello all;
I used to have a little btc which sold and use in 2017-2018 , i had lost a good portion of it trying to profit trading with altcoins (bad option).
Now a days i dont have any crypto as i have used the crypto i had in 2017-2018 as my principal funds, i spent it on good and cash out the rest ( a little at a lost but i needed that money) as a student ive used it as my principal money.
Last month i spent my lasts sathosis, owning now 0.0000

But after doing some research and thinking a lot im reconsidering to buy a little (like 100-300dollars) and hold it.

Maybe selling goods i dont use i can buy a little more..
Ive spent some of that crypto in collectibles which maybe i sell here

What do you think people? go all in btc or diversify a little on alts?

Thanks in advance

I think investing in BTC and a few altcoins which you believe might be a good start, it's actually a good time to buy now compared to previous weeks, this clearly indicates that you can start making profit after a few weeks if you buy in now.

Silberman

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Quote from: Triffin on November 10, 2019, 02:14:59 PM

Quote from: Reid on November 08, 2019, 05:08:40 AM

Add more if you are holding although that is a good start.
Maybe you could spare some with every salary that you will have from your job.
Something like a savings which will go directly to bitcoin.

I wont worry much if you will be a holder. There will be a time that you will not regret what you did and somehow just imagine if you had added larger than what you have now.

For newbies, as you suggested the best way to secure your profits and avoid losses is that you simply put maximum of your investment into bitcoin. Holding simply takes time ret you don’t lose anything. In the mean time, you can spend few bucks that you can afford to take risk with into altcoins and carry out trading on weekly basis in order to make some cash and also you would learn about trading strategies.

Not only this is the least risky strategy for a newbie this is also the best strategy for them, over the years I have seen many newbies come to the forum and invest in the market and the ones that eventually become successful are the ones that choose bitcoin as their first coin and then they begin to slowly invest in other coins, those that invest all their money in exotic altcoins lose their money many times more quickly and as you may guess they never recover it.

jhonjhon

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Quote from: Experia on November 08, 2019, 08:49:10 AM

You can go for an alts if you want but if the bull comes those alts will left behind, I suggest to you to focus on btc because you once been fooled by alts in the market, you better go with the high potential coin in the market which is btc all you have to do is to wait and have a patience on the market to come.

It also we have to consider for ethereum as well knowing how potential it was than of the other altcoins. But it doesn't mean that we have to put big amount into ETH, I could say 30% for ETH and 70% for BTC.

At OP, we should have to think wisely before investing crypto, we should have to know how the risk it was and be prepared for the possible happenings later either we lose or gain.

Triffin

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Quote from: Reid on November 08, 2019, 05:08:40 AM

Add more if you are holding although that is a good start.
Maybe you could spare some with every salary that you will have from your job.
Something like a savings which will go directly to bitcoin.

I wont worry much if you will be a holder. There will be a time that you will not regret what you did and somehow just imagine if you had added larger than what you have now.

For newbies, as you suggested the best way to secure your profits and avoid losses is that you simply put maximum of your investment into bitcoin. Holding simply takes time ret you don’t lose anything. In the mean time, you can spend few bucks that you can afford to take risk with into altcoins and carry out trading on weekly basis in order to make some cash and also you would learn about trading strategies.

Silberman

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Quote from: Wysi on November 06, 2019, 03:23:47 AM

Quote from: alexsandria on November 05, 2019, 11:45:04 PM

Diversify it mate. Sticking to one option isn't a advisable nor recommended atleast. Try distributing your funds with different altcoins as well may be a quarters of your over all fund with Bitcoin like 40% - 50% is for bitcoin and the remaining is for different alts. Well you seemed familiar with the basics then try looking out for other techniques, and try doing it just follow what they do and you'll never be at least failed.

Diversifying is not the issue but selecting the right coins to split the fund is the toughest choice it but I would suggest we need to select couple of altcoins like XLM and TRX who are undervalued from long time and have potential to explode anytime as this will be perfect time to invest in those coins along with a major share into bitcoin itself.

I always find interesting how many claim that a way to protect yourself from losing all your money is to diversify your investment but when more than 90% of the coins are scams diversifying is not protecting your capital at all and it is in fact putting it at risk, a newbie should go for a simple strategy at first and there is nothing more simple than holding only one coin and when that coin is bitcoin then you cannot really go wrong with it, buying any other coin will only add problems for a newbie.

Best Dreams

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Quote from: Experia on November 08, 2019, 08:49:10 AM

You can go for an alts if you want but if the bull comes those alts will left behind, I suggest to you to focus on btc because you once been fooled by alts in the market, you better go with the high potential coin in the market which is btc all you have to do is to wait and have a patience on the market to come.

Yeah that’s right we should buy bitcoin if we are new as after researches you will know by yourself that in market there is no other good coin but only Bitcoin so better instead of trying other coins you directly buy some bitcoin and hold it with patience until it recovers, a new investors will have to keep calm and face fluctuations bravely.

Experia

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You can go for an alts if you want but if the bull comes those alts will left behind, I suggest to you to focus on btc because you once been fooled by alts in the market, you better go with the high potential coin in the market which is btc all you have to do is to wait and have a patience on the market to come.

2double0

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Buy BTC alone because BTC will either drop or drive up but till it stabilizes, I don't think that trying out alts is good. With all in, if you mean that you are going to put the money you may need in future, then please don't do it. Any amount of money that you can just set and forget BTC with and you can afford to lose 'not in full but some percentage' is what I would advice you to invest.

shurcat

newbie

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At the end of the month i will put 100-300 dollars and 80% will be for btc.
I regret those times when i had crypto, if i had more money i wont needed to cash out and spent it. Now is time to start again, only a little 100-300$ because i cant afford to loose more, but my plan is to hodl that 100-300$ for at least two years.

Reid

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Add more if you are holding although that is a good start.
Maybe you could spare some with every salary that you will have from your job.
Something like a savings which will go directly to bitcoin.

I wont worry much if you will be a holder. There will be a time that you will not regret what you did and somehow just imagine if you had added larger than what you have now.

blckhawk

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Altcoins are generally more risky, there are tons of altcoins available in the market, and very few of them offer and has promising status in the market. You could diversify about 20-30% of your total fund to alts but the rest is much better with bitcoin. Its much safer even with the volatility, if you're a long holder, and you won't worry as much it going off the market, and bitcoin is much more resilient to manipulation and dumps.

boyptc

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★Bitvest.io★ Play Plinko or Invest!

Quote from: peter0425 on November 07, 2019, 11:09:13 AM

Quote from: boyptc on November 07, 2019, 09:15:44 AM

If you don't have bitcoin left I would choose to buy all in with bitcoin first. And if I think that I had enough already that would be the time that I'll spend money for alts.

Don't pressure yourself, keep on accumulating and keep on following that strategy of cost dollar average. You are in good hands if you have all in bitcoin.

supporting this because as a starter(thats you because you are in the next start up from the failure in past)Bitcoin can make your dollars more safer than altcoins and maybe consider diversifying in future but now?just hold bitcoin and decide what to do when you have doubled your money already .

Many newbies made a similar mistake of not purchasing bitcoin while they can at a very low price. And now that it's starting to go up, it shouldn't be ignored until they see it at the high price because they'll think that it's too late for them already.

It's the basic strategy that everyone has been doing ever since, buying and holding bitcoin.

Beparanf

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Quote from: peter0425 on November 07, 2019, 11:09:13 AM

Quote from: boyptc on November 07, 2019, 09:15:44 AM

If you don't have bitcoin left I would choose to buy all in with bitcoin first. And if I think that I had enough already that would be the time that I'll spend money for alts.

Don't pressure yourself, keep on accumulating and keep on following that strategy of cost dollar average. You are in good hands if you have all in bitcoin.

supporting this because as a starter(thats you because you are in the next start up from the failure in past)Bitcoin can make your dollars more safer than altcoins and maybe consider diversifying in future but now?just hold bitcoin and decide what to do when you have doubled your money already .

Some are newbies are impatient so they'll be needing some amount to use in exploring than just in waiting. I bet half for BTC for holding no matter what and half can be allotted in alts for trading than shows potential pump in that period so he can still have some circulating capital assuming he is starting to knows how to trade and earn even small amount in each trade he'll be doing. Since we all know how boring it is to just wait and still don't want to add more capital.

stomachgrowls

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Quote from: cryptoangel on November 07, 2019, 04:12:19 AM

Quote from: tinyteapot on November 07, 2019, 02:32:36 AM

Quote

But after doing some research and thinking a lot im reconsidering to buy a little (like 100-300dollars) and hold it.

I sympathize with you for your altcoin trading loss but that does not mean that all altcoins can definitely put your trading at a loss, i will advise you not to put all your funds in one coin but to diversify your investments.

You can invest 50% of your total funds into btc and spread the rest into other carefully researched altcoins.

Obviously, Your suggestion will helpful for beginners, But many peoples are expecting a quick profit so they can invest any one altcoin and finally loose the money. My suggestion also we can invest both Bitcoin and altcoin, so we must concentrate the two or more altcoins. All the huge volume coins are good growing altcoins in cryptomarket.

Most likely and this is where mistakes do happen.People arent really that patient enough to consider on putting money into those slow pacing or moving coins
but rather they would check out those alts which do have low cap and then hoping for 1000x multipliers and making hell of a profit on crypto boom but we do all
know that this isnt always the case that do happen yet bull times wont easily happen into these years and upcoming.Diversifying your $300 to crypto into various coins is quite not really worth.

gentlemand

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Welt Am Draht

Quote from: Sadlife on November 07, 2019, 05:58:07 AM

but OP only has 100-300$ budget and i think spreading for 10-20 currencies will give him smaller chance of earning IMO

Spreading your bets makes the most sense with a scene as flaky as this one. Two alts is not diversifying. That reduces your chance of earning as you're only exposed to two when other may be exploding. XRP is slowly being exposed as junkier than ever. Nano has shat the bed quite stunningly compared to some others, but they've all been stunning.

Like I said it depends on the fees. If they're too high buying and withdrawing multiple coins then it's not a goer.

logicgate

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Quote from: Hamphser on November 05, 2019, 12:29:12 PM

Quote from: Wapfika on November 05, 2019, 11:55:31 AM

Quote from: Hamphser on November 05, 2019, 10:47:36 AM

Go on, invest it in bitcoin if you have the money or if you are too eager to buy it, you can diversify a little if you plan on holding some of your altcoins too.
I suggest you find a part time job for your personal expenses and avoid spending your bitcoin to anything. Long term investors are aiming to hold their token specially bitcoin when the right time comes for selling.

If OP still studying then long term might not happen again as he might still use it, if he is in need, he really needs to expand or add cashflow in him so he'll be able to sustain his need without using if ever his investment. Having part time or I suggest half of it's budget now to be intended for investment in bitcoin and half for emergency fund so he still have some savings if ever the market is not in good condition, he don't need to be at loss.

The best way to earn and keep safe his investment is to have a part time job that would really sustain to his financial needs. Even if he was still studying, he can have a part time job or be a working student so that he will ensure his investment without taking some of it since the market is too volatile.

In order to have constant source of income either he shall go for day trading or some part time job. If he finds day trading hectic or stressful, then what you have suggested is great option for him. There are many companies or cafes etc which offer special student packages’ with less hours of work. In this way he can also save money for further investment into profitable crypto currencies.

peter0425

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Quote from: boyptc on November 07, 2019, 09:15:44 AM

If you don't have bitcoin left I would choose to buy all in with bitcoin first. And if I think that I had enough already that would be the time that I'll spend money for alts.

Don't pressure yourself, keep on accumulating and keep on following that strategy of cost dollar average. You are in good hands if you have all in bitcoin.

supporting this because as a starter(thats you because you are in the next start up from the failure in past)Bitcoin can make your dollars more safer than altcoins and maybe consider diversifying in future but now?just hold bitcoin and decide what to do when you have doubled your money already .

Capt00

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Bitcoin is a very good investment because it can give big profits once the price is high but it is very risky, the price is so unpredictable and it is not right away that you will get profits so I would suggest you use your spare money to invest or the amount that you can afford to lose. Though we are all expecting a bull run it we don't know when will it happen so if you invest all your remaining money it might only stress you out but if you are determined enough then go ahead and invest ay your own risk.

Topic: Newbie looking for advice - page 2. (Read 870 times)