Topic: Tips for newbie to long-term investing - page 8. (Read 2586 times)
For long term investment I would definitely say to the newbies always invest in a good coil You should not invest in some coins that you will lose a lot of money later on.Always watch the market and invest in the most popular coins. But there are definitely good coins for long time investing for example I would like to say like Bitcoin Ethereum BNB Always invest on this coin.Those who are new to it will never lose. And hold a long pause but the market will get better soon.
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That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.
You just have to continue been patient, don't think the dip is over yet. Based on pass record we might even have another one year to be accumulating as the market will continue been traded sideways. For now just increase whatever activities you're doing to get funds so you have enough funds to dollars cost average into the market without listing to whatever the so called professional will be predicting.
Don't forget, many of them all predicted the top to be around $100k but we didn't achieve that while some where just been too optimistic or trying to manipulation the market so their personal price target be meant. As for the tip, don't go all in at ones even though you're investing for the long term. Just keep budling your portfolio.
If you wanted to invest in the safe zone, I suggest buying big coins like BTC, ETH, BNB, etc. By doing so, you could just let it sit in your wallet after buying and wait for the bull run to sell your coins to make profits in the long run. Buying at $20,000 is a steal and wait till it hits $68,000 again. But if you're still hesitating to buy, for sure you'll regret it when left you behind.
Long-term investments do have to be in a safe zone, which means choosing a coin that is mentioned there will be potential when the bullrun comes, this coin will definitely go higher, you can say waiting for the price to reach ATH is probably what you want.In this way of course you have to have your own strategy how to start and do what you can, such as buying gradually from bitcoin to other coins, indeed I think many think the price range of $20,000 is fairly low but the most important thing is whether you want to take below that or a little higher, but the long-term investment outlook must have a well-thought-out plan.
...Would this be a wise decision? Or should I just keep going with the approach I have now?..
It is a good strategy to invest part of your earnings in cryptocurrency. But if you see that the price of coins has approached the minimum, then it will be the right decision to transfer your savings to cryptocurrency, since the resulting profit will be higher than inflation and a bank deposit.
Identifying the market is the first step. To be successful in trading, you need to stay agile over the long term. Those who react to market changes the quickest will perform best since the market is always changing. Never throw away your winning trades and strategies, and always try new ones until the ones that work stop working. As a final point, no strategy will work 100% of the time, so make sure your winners more than offset your losses by using risk management.
I think one of the tips I could give at this time is that if you have some BTC don't sell it, if you have some Altcoins don't sell it either, the best thing for now is to wait until the market goes up, you don't know what moment it may go up, but I am fully sure that it will go up and that is what must give peace of mind and security to people and especially to small investors and those who are novices, that all investment must be made in the long term and not to In the short term, if I would advise taking long-term vacations, something that cannot stress you by watching the news, it is necessary to follow up, but not make decisions based on news.
Have nothing to tell in perfect sense mate but to keep buying even in small piece , just to accumulate for long term because you are seeking for that time frame then there is actually a perfect way but buy and buy.
don't take the high or low price as hindrance because in the end? you will surely sell in higher value than the given price at certain time.
don't take the high or low price as hindrance because in the end? you will surely sell in higher value than the given price at certain time.
If you wanted to invest in the safe zone, I suggest buying big coins like BTC, ETH, BNB, etc. By doing so, you could just let it sit in your wallet after buying and wait for the bull run to sell your coins to make profits in the long run. Buying at $20,000 is a steal and wait till it hits $68,000 again. But if you're still hesitating to buy, for sure you'll regret it when left you behind.
Hi guys,
After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.
My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
EDIT
I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.
Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?
After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.
My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
EDIT
I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.
Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?
According to your narrative here, you show that you are currently accumulating ETH(ethereum), and you intend to follow it with ADA(cardano) and Bitcoin(Btc). To me, I see nothing wrong with your choice to gather while you do so. Especially now that their prices are almost low in the market. Maybe that depends on how much money you have in your budget. The more budget you have, the more assets you will gradually accumulate in the future. Just take extra precautions anyway.
Don't jump into hypes if they haven't just started and exit them asap. You may be lucky that you have earned some money but don't get used to it.
You're right, although Bitcoin is said by many to be the safest asset for investment for beginners. but all of them still need market analysis to support planning.
many beginners end up exiting the market when they see their investment in asset value decline. it's because they don't have good planning and analysis. What many beginners know is the short-term gains from the crypto market. not many know the risks.
Market analysis is an important point to be able to read market prices. Without basic analysis will not be able to trade properly. Beginners only know how to buy and sell, even though it's not that simple, there's a lot to take into account, manage and manage strategies. Crypto investment will not be as easy as imagined, it will be very difficult if you do not understand the science. Beginners sometimes do not know what the risks lurk in crypto investment. many beginners end up exiting the market when they see their investment in asset value decline. it's because they don't have good planning and analysis. What many beginners know is the short-term gains from the crypto market. not many know the risks.
That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.
Simply remain patient dude, if you don't have cash, don't stress yourself and indebt yourself. There will always be a using opportunity asong as the crypto market lasts. All coins cannot go up at once, whatever that goes up must surely come down. The right thing to do is to have a peace of mind and invest at your pace.The stress you would pass through when you lose your money will be higher than the one you are passing through as you have no money.
Your understanding of stable coins in my opinion is wrong, Bitcoin is not a stable coin, bitcoin is certainly very volatile and cannot be said to be stable. Examples of stablecoins such as USDT, BUSD, USDC etc.
Bitcoin moves faster and bitcoin determines all altcoin prices. It's good advice to invest in bitcoin, but you need to note that doing an analysis first is highly recommended before entering the market. Long-term investment cannot be done haphazardly.
You're right, although Bitcoin is said by many to be the safest asset for investment for beginners. but all of them still need market analysis to support planning.Bitcoin moves faster and bitcoin determines all altcoin prices. It's good advice to invest in bitcoin, but you need to note that doing an analysis first is highly recommended before entering the market. Long-term investment cannot be done haphazardly.
many beginners end up exiting the market when they see their investment in asset value decline. it's because they don't have good planning and analysis. What many beginners know is the short-term gains from the crypto market. not many know the risks.
Your understanding of stable coins in my opinion is wrong, Bitcoin is not a stable coin, bitcoin is certainly very volatile and cannot be said to be stable. Examples of stablecoins such as USDT, BUSD, USDC etc.
Bitcoin moves faster and bitcoin determines all altcoin prices. It's good advice to invest in bitcoin, but you need to note that doing an analysis first is highly recommended before entering the market. Long-term investment cannot be done haphazardly.
Bitcoin moves faster and bitcoin determines all altcoin prices. It's good advice to invest in bitcoin, but you need to note that doing an analysis first is highly recommended before entering the market. Long-term investment cannot be done haphazardly.
Since we are still in the bearish season, I will advise you to invest on stable coins like Bitcoin because some newbies that invested little capital on stable coins have a good confidence of achieving something good from the crypto market soon. It will be favourable, if you can carry out your personal research to see how beautiful the future market will look like before making your final decision to invest on a stable coin in the community. Don't miss this opportunity by investing on bitcoins because is very good for long term investors to make a passive incomes in the market.
The main part for newbies is that if they don't have knowledge about the market then start with some top coins like btc and with small investments only so even if you loose them it won't be a problem for you in the end.Never panic sell your coins as market will recover after some time but not for shitcoins so be sure for it and gain knowledge and experience with your each trade that will help you to learn from your mistakes and avoid them in future.
I think that an even better option is for newbies to take their time to learn before they make any kind of investment, and then once they have dedicated a few moths to study the markets then they can begin by investing in bitcoin, now I could understood if they were in a rush to enter the market if we were in a bull run, but right now we are witnessing a bear market, and since the bull market will not appear anytime soon they have all the time of the world to learn as much as they can before the price begins to go up in a sustained manner once again.
The main part for newbies is that if they don't have knowledge about the market then start with some top coins like btc and with small investments only so even if you loose them it won't be a problem for you in the end.Never panic sell your coins as market will recover after some time but not for shitcoins so be sure for it and gain knowledge and experience with your each trade that will help you to learn from your mistakes and avoid them in future.
I think that an even better option is for newbies to take their time to learn before they make any kind of investment, and then once they have dedicated a few months to study the markets then they can begin by investing in bitcoin, now I could understand if they were in a rush to enter the market if we were in a bull run, but right now we are witnessing a bear market, and since the bull market will not appear anytime soon they have all the time of the world to learn as much as they can before the price begins to go up in a sustained manner once again. 
Would this be a wise decision? Or should I just keep going with the approach I have now?
You can take two methods and two decisions at this time, no one can guarantee you in that decision, trading & investing crypto, has serious risks of course you are more careful in dealing with your losses.Your salary that you pour / month in your investment can be divided into two parts, to overcome deep losses.
1. 1/2 of what you pour, buy now.
2. 1/2 save to fiat, this can keep you excited to invest, if your predictions really happen, go down deeper.
Nowadays most people trade, it's because the crypto market is not stable, today $19k tomorrow could go up to $21k, and it keeps happening today.
You can invest in long-term options, experience, except: the crypto market has been stable for 5-9 months, without upward and downward movement.
The main part for newbies is that if they don't have knowledge about the market then start with some top coins like btc and with small investments only so even if you loose them it won't be a problem for you in the end.Never panic sell your coins as market will recover after some time but not for shitcoins so be sure for it and gain knowledge and experience with your each trade that will help you to learn from your mistakes and avoid them in future.
Hi guys,
After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.
My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
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Yes, do that if you are planning to hold long term. Keep investing a part of your money in crypto currencies every month and hold them. Invest those money that you can afford to lose and you wouldn't need it during random situations. Don't sell as long as you aren't in profit. When the price drops, invest more of what you have to maximize your profit. Store it somewhere safe, create backups and forget about it. If you can stake your coins, then stake it in your OWN wallet, not some centralized exchange. Invest most in bitcoins and rest in well known altcoins. After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.
My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
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