Which plan seems better? | Bitcointalksearch.org

MCobian

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

If I have to choose a good plan, I prefer plan 2. Because if we buy gradually every week regardless of the price of coins, it makes it easier for us
to collect coins. If we have to wait for the price to dip, it is more difficult to buy the coins we want. Because sometimes it takes patience if we want
to buy at a dip price. What is feared is that because we are impatient, in the end the desire to buy coins disappears. All coins that we successfully
buy should be hold for the long term, because that way can generate large profits.

thesmallgod

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You will need to work on the amount you want to invest $50 is very small especially now that you can end up paying amount higher than your investment as a withdrawal and gas fee. I will recommend Ledger Nano wallet. sometime I do daily trading and I consider a capital nothing less than $500 a good sum to start trading. I also recommend you first plan 50/50 seems ok. you may consider investing $1000 if you can afford that.

Sanugarid

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

I'll definitely go with Plan 2, that's how you diversify your investment buying different coins and holding but you should at least consider your market price when you were buying. Moreover, choosing plan 2 will minimize the risk of losing all of your investment since it is divided and invested in different coins. You should consider also where would you invest more than the other coins, at least 40% would be allocated to your main coin. Well, it's your choice on how you will plan your investment and I highly recommend using a hardware wallet in case you want to access your wallet anytime.

galestorm

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Futurov

Plan A is better in my opinion, but what i suggest is to put 70 30. 70% on bitcoins and 30% in ETH. It is better to invest in bitcoin rather than altcoin considering its difference in demand and value. I do recommend for you to buy on dips, the lower the better. Im confident that bitcoin and ETH would rise again, whenever they dip, they always do. Just keep on holding those coins until the next spike.

just_Alice

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I'd definitely go for plan B, and I wouldn't recommend buying weekly. From what I've seen - a week is a too short period of time for BTC. But by buying monthly you can miss out on some big dips also and end up buying too high. Once every 2 weeks looks about right to me. Also, I'd go like 70-80% on BTC and 20-30% on ETH and no LTC.

xiboothrezi

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.
Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.
HODL both obviously.
Also at what point is a hardware wallet required?

both have good potential, but I am more likely to choose option 2. For the long term it is quite effective, buying assets with the same nominal value within a certain time (weekly or monthly) regardless of the price in the market at that time, or better known as the Dollar-cost averaging (DCA).
Investing is actually very simple, as long as we are ready to face the worst risks. In my opinion, DCA is very effective for beginners because the method is quite simple and easy, it can reduce the risk of loss due to bad timing. Consider the following examples of DCA strategies:

_{https://www.coindesk.com/dollar-cost-averaging-investment-strategy}

when the price of bitcoin goes up, you get less BTC, but vice versa when the price of bitcoin goes down, you get more BTC. If accumulated over a certain period of time, and can get execution at the right time, during bullrun, you can feel the benefits

rodskee

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Will you do this constantly ? i mean each time ? or just a one time plan? small amount each week will help you invested bigger in long run.

Quote

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

This is One good decision , Buy each time and these 3 main coin is the perfect choice mate.

Quote

HODL both obviously.

Also at what point is a hardware wallet required?

The very Moment you decide and learn the word HODL , That is also the best time to require yourself to use hardware wallet.

Not your key , Not your Coin..

LogitechMouse

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

I will go with Plan 2 with this with a bit of a change. Maybe you can buy 50/50 with ETH and LTC and then the next week 100% with BTC instead of what you said. Plan 1 can work too but diversifying your money into different coins would be better especially if you have a huge amount of capital. If you have a small capital though then Plan 1 would be better.

Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Also at what point is a hardware wallet required?

When you are thinking of a long term. For ex. you want to hold Bitcoin or Ethereum for a long time (minimum of 3 years for ex.), it would be better if you will store it on a hardware wallet because it is more secure there therefore nobody can hack your coins.

pankowri

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In my sense, plan one is more acceptable than plan two. In plan two there are many gathering and plan one carrying some effective crypto and it is more suitable to raise in the market. So investment in BTC and ETH is the safe one for buy and hold. And for saving you can buy a ledger wallet.

Sadlife

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I'd go with Plan A due to the fact the price is maybe hitting the top and soon we might be seeing a slight pull down after failing to break the $60,000 price again and only put money with Crypto assets that has large market cap. I wouldn't want to put even 10% to smaller Altcoins because its a waste on resources.

kawetsriyanto

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Quote from: gbrendeh on April 05, 2021, 06:51:51 PM

Bitcoin and ETH are safe, but I don't know why you prefer Litecoin.

Exactly, BTC and ETH are safe coins to hold for the long term or short term. Many experts believe that the price of Bitcoin will go to $100K. They conclude it from many factors. So, if we consider the current price of Bitcoin today, the race is still quite long. From these matters, we can see the chance for taking profits of Bitcoin quite promising. While for Ethereum, since it is the altcoins season, it is the right time for Etheruem price to increase.

Regarding Litecoin, he may have his own opinion about the potential of Litecoin. Not sure what his reason to choose LTC, but I also agree with you if many other coins are better for faster profits. BNB, DOT, XLM, TRX, and EOS seem more promising to trade or invest for the short-term target.

CaVO32

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Quote from: gbrendeh on April 05, 2021, 06:51:51 PM

Bitcoin and ETH are safe, but I don't know why you prefer Litecoin. BNB, eGLD, 1Inch, CAKE, Sushi, UNI are all good project that can do better than LTC in my own opinion.

I believe since LTC is an old coin, he is confident to invest on this coin for long term purposes. But for profitable and promising projects, I would also go for BNB, 1inch, Cake and others. But it depends on his priorities here. The selection of coins varies depending on the duration of the investment. If you are a risk taker, you will really check out these new projects with very good returns. But remember to check also, if they have very good foundation like BNB.

gbrendeh

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Bitcoin and ETH are safe, but I don't know why you prefer Litecoin. BNB, eGLD, 1Inch, CAKE, Sushi, UNI are all good project that can do better than LTC in my own opinion.

Hamphser

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Quote from: Swopon on April 05, 2021, 06:37:39 PM

Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

Seems okay but implementation is important. Because you will confused about dips price and most of the time you will get panicked. So controlling yourself from other things will be better to focus it on and fixing a target price will help you to earn. From my perception, I can't always make profit but still I am exists.

Try to sustain ourselves as much as we can because emotion could really be a big factor that could really affect towards out decisions when we are trying to make out some positioning towards our investment.

with having the unpredictability of this market then it is really hard to tell on which one is the possible bottom that we can deal with.When it comes to plans stated above then i can say

that both things are good depending on what you do prefer because its your money then if you do sees that you are gaining on this way then better stick to it.

Swopon

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

Seems okay but implementation is important. Because you will confused about dips price and most of the time you will get panicked. So controlling yourself from other things will be better to focus it on and fixing a target price will help you to earn. From my perception, I can't always make profit but still I am exists.

Kittygalore

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Quote from: kopijos on April 01, 2021, 12:41:01 PM

people think differently and how people are processed capital is also different. I will try to choose the second option where there are BTC, ETH and LTC. both of them can be used as one of the best options at this time, if I only rely on 1 coin I think it is not good and very risky for our capital

The problem with this one is you are getting smaller amount of bitcoin, I mean if OP is just starting to invest then I would advise that OP should focus on bitcoin more to grow the capital, it is not risky if you invest in bitcoin because bitcoin has proven time and time again that it can grow exponentially.

Trinx01

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I would choose the plan number 1 as I only trust BTC, ETH, XRP, BNB and Doge. I am not into LTC, the problem with that is when to wait for the dips and what is the value you have settled before you buy Bitcoin and ETH, as we have waited for the dips we are looking more for the value to goes down. There are times that this would be a good timing o buy bitcoin but we are not yet contented and we are still looking for more dips, that would happen if we don't set a value we are looking more, it may result in losing the bug chance.

Mamun74

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Quote from: ConnerDalfino on March 12, 2021, 05:20:17 AM

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

I think Plan 1 would be better for you.Coz you easily notice that Which coin up and down. So you can hold and make good profit.

Plan 2 " Lite coin "Almost down and you can't make good profit weekly.

kopijos

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people think differently and how people are processed capital is also different. I will try to choose the second option where there are BTC, ETH and LTC. both of them can be used as one of the best options at this time, if I only rely on 1 coin I think it is not good and very risky for our capital

StartupAnalyst

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If you want only to hodl then firstly buy digital wallet and all assets that you will buy put on that wallet. About your plans.. Sorry, but I don’t like “A” and “B” . It is a bad idea to invest $50 every day/week. Collect your money during the month (for instance) and buy BTC and alts you like on the whole amount during correction because every time when you buy crypto you should again and again pay transaction fees and spend a lot of money on that.

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