Uni Student wanting to start investing for the long term

bwells88

newbie

Activity: 18

Merit: 0

Quote from: thebackfish on September 10, 2017, 08:25:08 PM

I'm 19 years old and want to start investing for the future. I have no interest in making short term gains. I'm looking to keep these investments for a few years. Where do I start off? I cant put that much into it at the moment, maybe $50 or less a week.

Having a consistent amount that you can add every week is the way to go. Start with the biggest name coins. Those will always be your safest bets. Honestly, Bitcoin and Ethereum are the two leaders by far.

vandvl

member

Activity: 154

Merit: 10

Quote from: thebackfish on September 10, 2017, 08:25:08 PM

I'm 19 years old and want to start investing for the future. I have no interest in making short term gains. I'm looking to keep these investments for a few years. Where do I start off? I cant put that much into it at the moment, maybe $50 or less a week.

if you want to invest.... buy 1 BTC and l hold in good and secure wallet like coinbase and leave in couple of year...and exchange in fiat after then...

S9Capital

newbie

Activity: 14

Merit: 0

Make sure that your ICO investments are secure and employ best in class cybersecurity practices. We encourage ICO investors to check the #CryptoHygiene of their potential investments (https://www.securecoin.capital/cryptohygiene)

Quote from: odolvlobo on September 11, 2017, 11:06:38 AM

Quote from: Indighost on September 11, 2017, 10:26:15 AM

50 is really not bad.. that's $600 a year
My suggestion:
Every month convert your $50 to ETH/BTC, at the same time search for popular ICO's or what you think might have a future
If you one of your ICO prediction is correct, you'll multiply your investment and will be able to exchange it for more ETH/BTC or whatever you want
but in general, stick with ICO's - since as you said 50 isn't a lot and ICO's offer the best return on investment
Good luck

While an ICO might have the best potential return, I believe maybe only 1 or 2 out of the hundreds that are being offered might succeed. Most are outright scams. Investing in an ICO takes a lot of research and vetting if you don't want to lose your money.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: Indighost on September 11, 2017, 10:26:15 AM

50 is really not bad.. that's $600 a year
My suggestion:
Every month convert your $50 to ETH/BTC, at the same time search for popular ICO's or what you think might have a future
If you one of your ICO prediction is correct, you'll multiply your investment and will be able to exchange it for more ETH/BTC or whatever you want
but in general, stick with ICO's - since as you said 50 isn't a lot and ICO's offer the best return on investment
Good luck

While an ICO might have the best potential return, I believe maybe only 1 or 2 out of the hundreds that are being offered might succeed. Most are outright scams. Investing in an ICO takes a lot of research and vetting if you don't want to lose your money.

Indighost

newbie

Activity: 42

Merit: 0

50 is really not bad.. that's $600 a year
My suggestion:
Every month convert your $50 to ETH/BTC, at the same time search for popular ICO's or what you think might have a future
If you one of your ICO prediction is correct, you'll multiply your investment and will be able to exchange it for more ETH/BTC or whatever you want
but in general, stick with ICO's - since as you said 50 isn't a lot and ICO's offer the best return on investment
Good luck

NiHaoMike

full member

Activity: 236

Merit: 250

If you have "free" electricity like a lot of college students do, start mining with what you have, almost certainly GPU altcoins. After you get some experience mining, save up to get more mining rigs. Stick with GPUs if you can get them for a good price because newer ASIC boxes are too noisy.

Dudeperfect

hero member

Activity: 1190

Merit: 534

The first advice I would share with you to diversify your investment which is about spreading your capital among multiple investment options to mitigate the risk. Even if you are investing $50 then you should spread it say in 5 multiple coins (or any other options as you feel comfortable with). Do not invest or sell just because the next guy is doing so, do your own research before taking any investment decision. I have lost my 100% of the capital in my initial days because I used to invest based on other's opinion, without doing any self-research so stay refrain from it.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: thebackfish on September 10, 2017, 08:25:08 PM

I'm 19 years old and want to start investing for the future. I have no interest in making short term gains. I'm looking to keep these investments for a few years. Where do I start off? I cant put that much into it at the moment, maybe $50 or less a week.

That's perfect! The best way to invest. Buy it and forget it. It would be easy to start with Bitcoin (and you would never have to look back unless this cryptocurrency thing as a whole disappears). But I'll offer another option for you - think about Litecoin!

Litecoin is severely undervalued compared to how long it's been available and how long it's been considered the sliver to Bitcoin's gold. Litecoin is trading between $60-80 right now, so each of your $50 a week can buy nearly an entire Litecoin. That ability to buy more coin per investment interval allows you to increase the leverage you'll have when Litecoin starts to move. Now, don't expected it to hit Bitcoin price levels at the same time as Bitcoin...Litecoin will have 4x the amount of coins in circulation at somepoint (81m vs. 21m for bitcoin). So it's fair to think that Litecoin's fair value should be 1/4th that of Bitcoin. Today that would be a bit over $1,000...yet it's still trading below $100.

Ask yourself, will it be easier for Litecoin to reach $1,000 or Bitcoin to reach $40,000?

mk4

legendary

Activity: 2940

Merit: 3883

📟 t3rminal.xyz

Depending on what country you're in, your best bet would be to create a Coinbase account then buy bitcoins there. If you're planning on holding bitcoin, then that's it. Probably just move the bitcoin to another wallet that you prefer more (or better yet, a hardware wallet like Trezor and Ledger Nano S).

If you're planning on investing in other cryptocurrencies, same steps. After buying the bitcoins from coinbase, move your funds to a reputable exchange like Bittrex, then you can exchange your BTC for whatever coin/token you want.

thebackfish

newbie

Activity: 2

Merit: 0

I'm 19 years old and want to start investing for the future. I have no interest in making short term gains. I'm looking to keep these investments for a few years. Where do I start off? I cant put that much into it at the moment, maybe $50 or less a week.

Topic: Uni Student wanting to start investing for the long term (Read 440 times)