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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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.

Noctis Connor

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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?

It;s really hard to tell which is gonna end up rising and little bit decreasing most of those coin you've mentioned mostly ethereum is the best way to make a good profit weekly if you're planing to hold that for long then you can easily buy bitcoin with your income in eth mean while in ltc well regardless of coins prices you must think the way of on how you can make a good profit from it and to not a bargain of a single lose from your previous investments you can easily take a look at the graph in each market of what best to buy weekly.

bobyhodob

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maybe I take plan number 1 because both movements are better for investment, I prefer to buy the major top 3 coins for future investments

buy ledger wallet for saving

int03h

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Buying option 1 looks better since they are the best cryptocurrencies to hold in the long term. I suggest a better way is to spend more money and buy when the market plunges short term. You will have to give them some technical analysis knowledge. I think that's not too difficult for you. If you do this you will be able to have good buying zones and confidently hold them for long because you bought at the best possible prices.

vaultman

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I don't think it makes sense to invest such a small amount of money in these types of cryptocurrencies. With a small balance, you should pay attention to altcoins, especially since the season of alcoins is underway. On bitcoins, it will not be possible to make at least x2 in a short time, but on altcoins it is easy.

mezzaluna

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There is also another plan that you could go for and its quite profitable for some people. Its getting into daily trading and looking for different coins that would have the potential to blow up in the next couple of days since April is coming and we all know that the month of April is a great month for all Cryptocurrencies specially if we look in the past years. There are a lot of new coins that boasts a lot of potential and getting into daily trading can be quite profitable for you if you are the kind of person that jumps in and learns about every possible aspects that can boost the value of a token/coin.

Sithara007

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Don't go for ETH and LTC. For both of them the future potential is not very bright. You can go for more promising coins such as Cardano (ADA), Binance Coin (BNB) and Polkadot (DOT). Ethereum is facing a lot of issues lately, related to transaction fees. And Litecoin exchange rates (against Bitcoin) have been going down for quite some time now. BTW, it won't be a bad idea to allocate 80% of the funds to Bitcoin and the rest to altcoins.

Questat

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Quote from: veznata on March 30, 2021, 03:55:45 PM

100% BTC and HODL. in the past I hold large amounts of altcoins (incl. eth, ripple etc.). at the end today i have at least 5 times less the amount of BTC I would have if I just stick to BTC from the beginning. now I am 100% in BTC. just relax and HODL until price reach what is enough for you.
Use either Ledger or Tresor. I use Ledger Nano S personally since prices start to become too high more than 3 years before.

If you hear this saying "never put all your eggs in one basket", probably you will think that spreading your funds to 2-3 coins is safer than having Bitcoin alone. Well, of course, it is your decision and that I believe also that you are already prepared for the incoming. Because if the price of Bitcoin will dump, you will definitely at lose, unlike if you are investing 2-3 different coins, the others will save you from that particular situation.

veznata

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100% BTC and HODL. in the past I hold large amounts of altcoins (incl. eth, ripple etc.). at the end today i have at least 5 times less the amount of BTC I would have if I just stick to BTC from the beginning. now I am 100% in BTC. just relax and HODL until price reach what is enough for you.
Use either Ledger or Tresor. I use Ledger Nano S personally since prices start to become too high more than 3 years before.

isaac_clarke22

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Quote from: Yatsan on March 30, 2021, 10:24:33 AM

~

In your case, I wouldn't even think of other coins none other than Bitcoin and only Ethereum for now.
Unless the amount I currently hodl right now is not gonna really hurt my sanity if I get losses though mostly I don't do other coins except for those two coins I mentioned.

Bilgent

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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 2 seems better. I always recommend investing in Bitcoin and Ethereum. But you could give a chance for Litecoin also as its price is also giving good signals for the future I think.

But if I were you, I would prefer BNB rather than Litecoin. It has a bigger potential I think and I wouldn't be surprised if its price reaches 1k in this year.

traderethereum

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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?

Plan 2 seems to work for me, but for the next week, I will buy 50% BTC and 50% LTC, and I am not going to use 100% for LTC or ETH because bitcoin will be my number 1 investment.
Hold will be the next plan after I have all of that coins and not selling for some time or until the price increase so high.
You can use Ledger or Trezor to keep all of your coins, and after you bought those coins, you can send them into that hardware wallet and keep it.
But besides that hardware wallet, you can install a mobile phone wallet that supports bitcoin and altcoin. That can works good for you if you do not have more money to buy a hardware wallet.

Yatsan

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Purchasing both Bitcoin and Ethereum on a weekly basis depending on its price will be the best I think based on the options given. I am not just basically sure about giving it a hand on Litecoin but it is your choice so you can do whatever you want. Doing such way can make your grip bigger for you are focusing on Bitcoin and Ethereum and actively doing purchase on a weekly basis. But still results will not be sure to get consistent. It still dependent on your capacity and capability so any change of plans are always welcome as long as you are seeking to progress on whatever you are doing. But either way of those plan 1 and 2 are good. You better just see and compare it by yourself to see which would be better and will be suitable for you.

acener

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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 weekly investment would be the best if you have spare money to do it.
Consider it as saving in a piggy bank but we all know that it is way better than it.
I would also do it once I had settled everything that needs to be settled but I plan on focusing with BTC only .

nebuch

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I go for plan 1. Just buy Bitcoin, Ethereum and Litecoin. Of course do that at the time of dip correction. Don't buy at the peak. Much better to wait for decline than do not consider where the price is heading. Useless to buy at the peak if in the next days the price could be at the bottom.

Maybe for now, better to consider to save money just to buy Bitcoin and Binance imo.

doctor877

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Investing at every dip is much better, no matter how much you plan to invest its always better to buy at dips. First plan seem bit cool to go with. Just buy more Bitcoin.

wxa7115

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Quote from: Distinctin on March 24, 2021, 09:36:27 AM

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.

...

Buy BTC and Bitcoin only but not at 50/50, it is better to buy more on BTC 60% while 40% for ETH. Well, buying coins during the dips is not unusual, most investors do this and then sell at high. But this is not what I have planned after buying, I have to hold it for a while until the next ATH just comes. Patience can be tested as well but if we are truly committed to our plan, that seems possible.

I would prefer for newbies to begin their path in this market by being 100% invested in bitcoin, not only this is way easier to understand it is also way easier to keep track of only one coin instead of several especially when you are starting out and it is also going to stop newbies from making too many mistakes.

The main reason why new investors lose money in this market is because they invest in scam coins or they fall in other kind of scams like pump and dump groups, it is way better to reduce the chances of making a mistake and the only way to do that is to invest only in bitcoin, years later once they have more experience under their belt and if they still want to invest in some popular altcoins then they could do it but with a very small amount of their capital, that way if they happen to lose money when they invest on those coins as the majority does most of their capital will still be safe by being invested in bitcoin.

Distinctin

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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.

...

Buy BTC and Bitcoin only but not at 50/50, it is better to buy more on BTC 60% while 40% for ETH. Well, buying coins during the dips is not unusual, most investors do this and then sell at high. But this is not what I have planned after buying, I have to hold it for a while until the next ATH just comes. Patience can be tested as well but if we are truly committed to our plan, that seems possible.

PointHope

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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?

Buy Bitcoin only.

Elon Musk's safe word: "bitcoin".

DatKing

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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 would go with Plan 2. I always think that investing in Bitcoin and Ethereum is really profitable in the long run. Litecoin also seems like it deserves a chance. Because in nearly one year, the price multiplied itself around 6 times.

And when it comes to the requirement for a hardware wallet, you can prefer it when you have an amount of coins which is worth really high and you would like to secure it.

jjdub7

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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?

In my opinion, if you decide to invest every week, it would mean smaller amounts to invest and the better option is to focus on the two leading coins on the market - Bitcoin and Ethereum. Both are expected to make a big rise in the future. Litecoin is also a pretty good coin, but if you need to split your investment it is better to do it between BTC and ETH.

DarkDays

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Quote from: davis196 on March 12, 2021, 07:01:34 AM

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?

Why do you want to buy BTC and ETH,since their prices are moving in the same direction.
Real portfolio diversification means buying various assets,which prices aren't correlated to each other and are not moving in the same direction-up during a bull market and down,during a bear market.
I think that it doesn't matter if you buy BTC and ETH only or BTC,ETH and LTC.It's basically the same to me.
I'm a Bitcoin maximalist,so I would buy 100% Bitcoin and 0% altcoins. Grin

Yes, I can see what davis196 is saying. Bitcoin and ETH/LTC are quite similar. I'd go with option 2 but increase the timeframe i.e. monthly and I would recommend a switch away from LTC. If you really want an alt there are better ones out there that can increase much faster in value like ORN, DAO Maker or even Alice. It is up to you but try to diversify a little.

sayaya17

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Investing in bitcoin and ethreum is what we should do. But if we look at the movement of ethereum always moving where bitcoin goes, maybe for me
I prefer bitcoin only. On the second plan, it may be included ethereum in the investment portfolio weekly or monthly. But it depends when the price is low.
Looks like it's interesting to me. Because besides long-term investments, I also want to make a profit every week or month.

verita1

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Both plans are good and basic. It could be convenient for any investor. Everything will depend on the purchasing power of those who are interested in investing. Just as mk4 says think about purchasing a Ledger Nano S or a Trezor from their original websites.

I would add other altcoins because it is my preference for the purpose of Hodl and to pay my bills. In total I would stick with BTC, BNB, AVAX, hodl and ETH and Dash to spend.

I am proud because despite various situations we are upholding our ideals as a community. We have managed to get more enthusiasts to join our current of cryptocurrencies and as we are united and are more we will conquer more achievements.

Vaskiy

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Second plan seems to be more effective, go for regular buying of bitcoin and ethereum on the weekly/monthly basis. Along with this litecoin seems to be fair choice compared to many other altcoins. With the next bull market we can expect litecoin to pump high. Compared to the price of bitcoin and ethereum what we have for litecoin is low. Based on this, saving in the form of altcoins-litecoin is a good choice.

dimonstration

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Dimon69

Quote from: bitgov on March 18, 2021, 04:35:19 PM

Best plan is the one that comes after your own planning aka DYOR. It's advisable to built a diverse portfolio that has multiple coins in it. Never put all your eggs in one basket, thats the key point.

But always remember not all coins worth having for. As per OP question on where to buy hardware wallet it is not necessary to buy alot of coins to store in it. It's good diversify depending on our knowledge and how we see the potential of that coin depending on our goal of long or short period. I do diversify alot before and end up in lose since some projects didn't continue their plans so it's good to be updated or more trade with alts and hold BTC more.

Iranus

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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?

Buy Bitcoin on weekly or monthly basis, don't trust in Altcoin, Altcoin has no future, You can buy Bitcoin weekly basis at the weekend dump. It is sure that Bitcoin will surpass 100K this year or within the next two years, But there is no guaranty for altcoin, Altcoin market is a shitty and creepy market, Most of the altcoins are getting crushed when Bitcoin dumping, but few of them are able to recover.

wxa7115

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Bitcoin is GOD

Quote from: TheNineClub on March 17, 2021, 03:53:49 PM

A hardware wallet is required at any point you wish to have your funds as secure as possible. That can be at the start or after you accumulated some assets, it all depends on how much you invest and the fluctuation of the market. But whatever your goals are I highly recommend getting a hardware wallet from the start. Do not be stingy with this. Buy the best brands and invest in your own security.

A hardware wallet is not a must but it is without a doubt a great investment if you do not know how to secure your coins properly with a software wallet, people love to use insecure Operating Systems like Windows and download wallets without verifying if they are on the right website or if the wallet has not being modified in any way.

If you do not feel like doing any of that then get a hardware wallet, but if you know how to secure your computer a hardware wallets is not as critical for you and your capital.

bitgov

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Best plan is the one that comes after your own planning aka DYOR. It's advisable to built a diverse portfolio that has multiple coins in it. Never put all your eggs in one basket, thats the key point.

MiningBattalion

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Quote from: carlisle1 on March 18, 2021, 10:31:50 AM

The amount of investment is well enough for the start up, and having a hardware wallet is the right advise to secure the funds.

Whatever plan OP use, it's always better to follow your own instinct.

Quote from: gurunanakji777 on March 18, 2021, 09:03:38 AM

I think when you have at least 1000$ worth of coins you must have a hardware wallet. It is much safe to have coins in a hardware wallet rather than on exchanges. Plan 1 is much better than Plan 2 in my opinion but I would say Don't plan to buy every week buy only when dips after rising.

Quote from: Alucard1 on March 18, 2021, 09:31:44 AM

I prefer plan 1 because I am not into LTC, I am only into BTC, Eth, XRP, and Doge, itis good to explore yourself in different assets but that is riskier than focusing on only 1. The best thing to do is to try plan 1 first for a month and if it seems successful then just focused on it but if you think it's not then going for the second one, I think there would be a bit result for one month, just trial and error, it is normal to lose at the first try, that would make you a better person.

BTC and ETH good for both long and short term trading as long as you are willing to take the gamble and not to fear with

any market changes, trial and error will lead you to dig for more strategies.

Planning begins with goals. Goals are derived from the vision and mission statements, but these statements describe what the organization wants to achieve, not necessarily what it can achieve. These conditions are examined through a process called a SWOT analysis. Together, the vision and mission statements and the results of the situation analysis determine the goals of the organization.

carlisle1

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The amount of investment is well enough for the start up, and having a hardware wallet is the right advise to secure the funds.

Whatever plan OP use, it's always better to follow your own instinct.

Quote from: gurunanakji777 on March 18, 2021, 09:03:38 AM

I think when you have at least 1000$ worth of coins you must have a hardware wallet. It is much safe to have coins in a hardware wallet rather than on exchanges. Plan 1 is much better than Plan 2 in my opinion but I would say Don't plan to buy every week buy only when dips after rising.

Quote from: Alucard1 on March 18, 2021, 09:31:44 AM

I prefer plan 1 because I am not into LTC, I am only into BTC, Eth, XRP, and Doge, itis good to explore yourself in different assets but that is riskier than focusing on only 1. The best thing to do is to try plan 1 first for a month and if it seems successful then just focused on it but if you think it's not then going for the second one, I think there would be a bit result for one month, just trial and error, it is normal to lose at the first try, that would make you a better person.

BTC and ETH good for both long and short term trading as long as you are willing to take the gamble and not to fear with

any market changes, trial and error will lead you to dig for more strategies.

kryptqnick

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I'd go with Plan 1 when the prices go down at least a little. It's easier to just buy the coins and wait until you're in profit than to do weekly activities as Plan 2 requires. What I also don't like in Plan 2 is that you want to buy cryptos regardless of the price, and this could result in buying at a high price regularly. But considering how high the current prices are, I wouldn't risk going forward with any plan for now. I'm pretty sure the prices will go down by at least 50% at some point, so I'd just wait for it. Buying at ATH is a mistake many made in 2017, so I would avoid repeating it in 2021.

AicecreaME

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I think it's much better if you won't limit your choices in just three coins if you really want profits in the long run, well it's just my opinion since we have different perspective on how to earn profits and it's much easier to look if you only have three charts, to be honest since those three choices of yours are good to hold for long term.

I would recommend BNB if you'll add it to your top coins to hodl in the long run since I've read a lot of articles already saying that it's a good coin to be hodl in your bag. For your wallet, I would suggest Trezor.

Alucard1

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I prefer plan 1 because I am not into LTC, I am only into BTC, Eth, XRP, and Doge, itis good to explore yourself in different assets but that is riskier than focusing on only 1. The best thing to do is to try plan 1 first for a month and if it seems successful then just focused on it but if you think it's not then going for the second one, I think there would be a bit result for one month, just trial and error, it is normal to lose at the first try, that would make you a better person.

gurunanakji777

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I think when you have at least 1000$ worth of coins you must have a hardware wallet. It is much safe to have coins in a hardware wallet rather than on exchanges. Plan 1 is much better than Plan 2 in my opinion but I would say Don't plan to buy every week buy only when dips after rising.

BChydro

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

HODL both obviously.

If you are holding then you can do so till the market reverses but i do not recommend any investment decisions at this point as the risk is much higher and if your plan is long term then you cannot accumulate.

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

Also at what point is a hardware wallet required?

If you are seriously investing and view the market as an investment opportunity then you should spend money on securing your assets because that should be the main aim before investing since the market is not irreversible and you need to safe guard your assets.

carlfebz2

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I would alter some which would be on this proportion. BTC 70% and 30% on ETH then hold those coins and buy on what price that you do decide to buy in.

For Hardware wallets:
-Ledger (https://www.ledger.com)
-Trezor (https://trezor.io/)

Choose which one fits for you.

jossiel

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Regardless of the choice, they can be both the best for you. I suggest you try the plan 1 before proceeding to plan 2. If you find it effective doing the plan 1 then consistently continue doing that.

But if you find it less effective and you think that you'll improve more by doing the plan 2, start proceeding to the next step by doing that. You can test both strategy and whichever you think is the best and suits your investing style, stick to that plan.

dunfida

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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?

Go with Plan B.

Buying those coins on weekly manner with 50% allocation on each one and it doesnt really stress you out on what price you should get in because you are aiming for long term aspects.
Asking about hardware wallet then its a recommendable thing rather than storing those coins on a custodial wallet.
You should know on what are the basics on keeping off those coins on a HW.

adzino

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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?

How did you come up with these plans? Sounds too complicated lol. Didn't even understand what your plan 2 is actually trying to do.
Anyway, which one do you think you can afford and comfortable with? Go with that one. Or maybe no need to complicate things. Just invest in Bitcoin and ethereum (invest more in btc than eth) every week or whenever you can and just keep holding it. Once you reach your profit goal, take your profit and start investing again. Easier right?

Asuspawer09

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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 plans are kinda sketchy for me, Plan 1: buying bitcoin and ETH only? it's true that these 2 cryptocurrencies are the safest investment in the market and for sure going to be a huge amount in the future but its kinda late already so compared to other investment it will surely going to give you less profit compared to investing in altcoins low cap coins in the market. Buying in the dips only is a good strategy buying selling bitcoin and eth with that method is probably one of the best things you could do to make sure of your profit.

Plan B: This kinda great strategy if you're going to a long term investment in Bitcoin, Ethereum and Litecoin as well, doing investment weekly in different cryptocurrency week would not maximize your profit since somethings you could be buying with its pumping, and it's not a good time to buy with the market is green. As well as the fee would probably cost you if you're going to do it weekly compared to just buying bulk once.

BuNga_cute

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The two plans you mentioned are equally good, because BTC, ETH and LTC are very good to buy and HODL for the long term. Moreover, the crypto
market this year has had an extraordinary performance, so indeed from now on we have to buy potential coins every week / month. By regularly
buying cryptocurrency, especially Bitcoin, I'm sure anyone can get rich in the next 5 years.

The key is to be patient, because most people who have just been HODL for a few months can't wait to sell the coins they have bought. We have to
be patient with HODL as long as possible, at least in the next 5 years to be able to feel a very large profit. Regarding hardware wallets, many
other members have explained it, but for me a hardware wallet is the safest place to store crypto coins that we have.

TheNineClub

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A hardware wallet is required at any point you wish to have your funds as secure as possible. That can be at the start or after you accumulated some assets, it all depends on how much you invest and the fluctuation of the market. But whatever your goals are I highly recommend getting a hardware wallet from the start. Do not be stingy with this. Buy the best brands and invest in your own security.

wxa7115

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Bitcoin is GOD

Quote from: mk4 on March 12, 2021, 10:24:17 PM

Quote from: isaac_clarke22 on March 12, 2021, 11:11:45 AM

I guess some people really got used "too much" into diversed investment.
The usual "Don't put all eggs in one basket" mindset if it applies.
Having your money invested in too many coins isn't a good thing either.

Pretty much. It's already 2021 and I can't believe some people(even some being here for 3+ years already) still think buying altcoins is effectively "diversifying" their portfolios. It's literally one of the worst advice I've seen here yet one of the most common.

It just a matter of common sense really and yet people do not get it, even if we were talking about the stock market diversifying by investing in the stock market again makes no sense, diversifying means investing on other markets or assets.

We know that bitcoin is by far the best coin in this market and if you have bitcoin then most likely that is the only coin you need, anyone with a need to diversify to protect their investment should instead look at real state, precious metals, art(real art not the NFT bullshit we are watching) and maybe even a few stocks.

pawanjain

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Nothing lasts forever

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?

Hardware wallet is good when you hold large amounts of cryptocurrencies and you are planning to hold it for long term.

If I were at your place, I would buy BTC and ETH 50% - 50% and buy it on regular intervals to average out the price.
I would store it in the hardware wallet if I were to hold it for the long term.

panganib999

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Quote from: newwest on March 12, 2021, 12:00:13 PM

Normally I like the monthly investment unless in between if the market crashes a lot then you can buy all in else better to keep on moving monthly so that on each month whenever there is a dip you can buy some amount worth of coins. Also investing in multiple coins is a better idea just to have the best of all and to diversify it.

Even if you are a monthly trader or simply say that long term holder, you must also need to check the market from time to time more over if you don't put any stop loss in you coin. I understand the concept of long term holding or a monthly trader yet somehow I believe that this kind of attitude or strategy is a gamble one that requires a lot of luck. Taking care of your funds is the main priority. For me, personally I would not gamble or put all of my koney for long term because it might be able to waste and lose in just a small time. I will be more discipline and selfish in my earnings and capitals.

mezzaluna

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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?

Plan 1 is a safe choice since you are only risking to buy on those dips and the chances of those dips recovering are high which means the profits can come to you simultaneously on both Cryptocurrencies.

Plan 2 is much riskier but you should try and removing LTC since the volatility of its value is much slower than BTC and ETH. You could also try looking for Alternate Cryptocurrencies that can yield a much greater price by buying them at their lowest values like their starting values. Plan 2 is also a better way to improve your investments on the Cryptocurrency industry since you are spending money on them weekly.

I'll obviously go with Plan 1 because I just hate having this losses that is avoidable.

Pom_bensin

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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?

point 1 and 2 still use hardware wallets, but point 1 is preferred to hold, because btc and eth are the two coins with the greatest value and price. maybe I think this is one way of securing assets of great value

Amejoaquim

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Gonna give you "Plan 3", how about you keep buy btc every week and forgot about another coins?

For me BTC is the best and the safest investment you can do, Low Risk and High Gain = BTC.

If you dare to take the risk maybe you can find small coins(Outside top 200 CMC) with big prospect and good team.

peter0425

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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.

This is the safest because you are relying in the most Biggest coin in the market.

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 the practical way because at least you are almost assured of taking Good income as those mentioned are the strongest coins in the market.

Quote

HODL both obviously.

Also at what point is a hardware wallet required?

Perfect decision , HODL..

Hardware Wallet must be the sanctuary of your coins.

fortune1002

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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.

I think plan 1 is better than plan 2. Or you should only Invest in BTC at dip, so you can get big Profit. And I also suggest you to don't invest in LTC. BTC is good to invest.

Ridwan Fauzi

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Depend on the situation, if you have more time to make a prediction and you have a lot of capital to be spended than plan B is a good way.

But, since I don't have much money and I don't have much time to make a prediction then plan A is a good way for me. Making a prediction and searching for where bitcoin will fall is a good way for those who have a work in real life.

I do this thing so far, I just have a little time to see a market in a day so I just put my entry price and just let it. This way has been working for a few months before to me, also I use future market to add another opportunity to get a high profit.

Lorence.xD

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Quote from: Rikafip on March 12, 2021, 10:13:44 AM

If you want to risk more, then you can diversify between BTC and ETH but if you want to play if safe, just go all in on BTC. As simple as that.

Regarding that part on buying the dips, since I guess that you are new to all this, timing the market will be very hard for you, and possibly even frustrating (like being upset because you bought and right after that price went lower). What I would suggest you is to buy BTC/ETH once in a few weeks, preferably at the same date and keep on buying like that,so some sort of collar cost average method.

Diversifying at the start is not a good thing for starters, there isn't any profit yet so you have to focus on one thing then try to grow your capital in it and then diversify. Personally, both plans don't seem viable to me because if you put all-in in bitcoin and it grows, you will get more value out of it and bitcoin proved that it can grow exponentially with the evidence that the charts from past months showing a growth. Timing the buys will be difficult but it is a must if OP plans to buy bitcoin at dips.

Reatim

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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.

How long will you plan Holding your coins ? this is important question because you did not clarify the full details and you only mentioned about the plan of buying but no specification when to sell.

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.

I will be Biased about these 3 , because i support all of them so i guess the plan is cool and you may be earning great in 1 or 2 years time?

Quote

HODL both obviously.

Again the span of time , it is important.

Quote

Also at what point is a hardware wallet required?

When talking about Holding , it is required from the beginning because our coins will always at stake if you are not Holding your own Private Keys..

Matimtim

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For me, its better to put our investment in different place of investment just like what the others say "don't put all eggs in one basket" because if you put it in one basket the risk is bigger and you cant easily manage the risk of investing in that way, thus I choose the plan number two.

Your second plan look great and there are possibilities you can succeed.

mk4

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Quote from: isaac_clarke22 on March 12, 2021, 11:11:45 AM

I guess some people really got used "too much" into diversed investment.
The usual "Don't put all eggs in one basket" mindset if it applies.
Having your money invested in too many coins isn't a good thing either.

Pretty much. It's already 2021 and I can't believe some people(even some being here for 3+ years already) still think buying altcoins is effectively "diversifying" their portfolios. It's literally one of the worst advice I've seen here yet one of the most common.

Shasha80

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If I have to choose between Plan 1 or Plan 2, I prefer Plan 1 because for now only Bitcoin and Ethereum are good for HODL. But maybe
the percentage of investing in Bitcoin is slightly increased to 75% and investing in Ethereum is just 25%. That way the planning looks
more perfect. Regarding hardware wallets, it is really needed, because it is the safest crypto storage for now.

Rengga Jati

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They are actually good decisions about diversifying funds into the coins.
Both options one and two are good. However, I probably will go for the second one.
Why? because I also do love some other altcoins that are worthy to take, trade, and invest right now.
It is also because sometimes, Bitcoin hits very high and in that time is probably good time to buy more worthy altcoins (the coins commonly drops at that time), and then buy them in dips and make them as a short investment.
So, BTC and ETH can be short or even long-term investments. While other altcoins are precious to choose, in which they are the one that deserves for short investment or trading only.

Yamifoud

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Plan B is better but I have to replace LTC with BNB. I was considering more potentials that BNB has than LTC and we are talking about long-term goals which appropriately these coins meant to be.

60% on Bitcoin, 20% each for ETH and BNB. It will be good for me and I usually put more funds in Bitcoin coz I know the capabilities it has and we never regret it.

wxa7115

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Bitcoin is GOD

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?

In my opinion it is better to avoid so called diversification in this market, pick bitcoin and buy whenever you have some money available, keep records of how much you bought and what is the cost so you know the average price at which you bought, if you are going to buy as low as in 50 dollar amounts I will recommend that you only buy once a month otherwise you are going to pay a lot in fees.

Now about the hardware wallet question, a hardware wallet costs something like 60 to70 dollars last time I checked so once your capital is 10x to 20x that amount then it is worth to buy a hardware wallet, with it the most common hacks will be unable to hurt you and that is a great advantage in this market.

hahay

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I prefer to have the initial plan, because when you can buy every week regardless of price then I think buying every time there is a decrease will probably be the right choice. Anyway, in the end it's about holding right? So, if you have the ability to buy every time there is a decrease, then of course the purchases made at that time will get more assets than you bought when the price was still high.
Well, at the point where you feel your assets are already very high and are worried about being hacked then of course, at that point a hardware wallet will be needed. But yes, during that time I think you will be able to feel more comfortable if you continue to use the same wallet that was used before, because it will arise because you are used to it and feel comfortable if you continue.

The Cryptovator

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Since I am not a fan of LTC, so number one would better solution. Although I am a fan of Bitcoin, if I am neutral then also you keep ETH in your portfolio. But rather than 50%, it would better 60/40. So you can take advantage of both coins. Actually depends on you about buying and holding duration. Because we can't determine the actual dip to buy, so you have to take real-time decision.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

personally, I will choose the second plan, with some speculation in other alts. that is what exactly I do now.
but I've never bought 100% in crypto. max 60-70%, the rest for the dip.

HW wallet is needed when you are very strict with the security of your wallet. for example, you need to store it digitally on a device that impossible to be reached by internet connection. so, you will need an air-gapped hardware wallet Grin

not sure about it, I just use a hardware wallet because I love trying something new, like a tech and crypto enthusiast. mobile wallet is enough for me. maybe because I don't have many assets.

newwest

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Normally I like the monthly investment unless in between if the market crashes a lot then you can buy all in else better to keep on moving monthly so that on each month whenever there is a dip you can buy some amount worth of coins. Also investing in multiple coins is a better idea just to have the best of all and to diversify it.

GeorgeJohn

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The problem is that, to remember to invest always come peoples mind because the finance is not there, but the process whereby people have the finance, concept of investing doesn't come to their mind, it seems that buying cryptocurrency and hold for long term is nice options, because its obvious that the money used to purchase the coin will increase or multiple within a short time.

isaac_clarke22

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Quote from: mk4 on March 12, 2021, 10:40:25 AM

Quote from: Innerpumper on March 12, 2021, 10:31:41 AM

~

That's a really bad way of looking at it. The potential money to be made surely increases, but the chances of losing money increases as well. If anything, especially knowing that we're talking about freakin Litecoin— whereas there's just too little upside with large amounts of downside.

I guess some people really got used "too much" into diversed investment.
The usual "Don't put all eggs in one basket" mindset if it applies.
Having your money invested in too many coins isn't a good thing either.

mk4

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Quote from: Innerpumper on March 12, 2021, 10:31:41 AM

the second package. I think more coins purchased will have more potential to make a profit. This is evident from my personal experience. When we focus on one or two coins. We'll definitely miss the other coins. Take advantage of asset management to get more profit.

That's a really bad way of looking at it. The potential money to be made surely increases, but the chances of losing money increases as well. If anything, especially knowing that we're talking about freakin Litecoin— whereas there's just too little upside with large amounts of downside.

Innerpumper

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the second package. I think more coins purchased will have more potential to make a profit. This is evident from my personal experience. When we focus on one or two coins. We'll definitely miss the other coins. Take advantage of asset management to get more profit.

Coin_trader

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Use DCA(Dollar Cost Averaging) during dip instead of buying it regardless of the price weekly or buying dips all at once. The market is unpredictable that's why it is advisable to enter a position by tier so that you can minimize risk of losing and increase the chance to earn more. Continuous accumulation regardless of price is for traders with great capital only like institutional investors. Its not advisable to do by normal trader with tight budget because at some point, You will stop cashing in Fiat into crypto.

Rikafip

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If you want to risk more, then you can diversify between BTC and ETH but if you want to play if safe, just go all in on BTC. As simple as that.

Regarding that part on buying the dips, since I guess that you are new to all this, timing the market will be very hard for you, and possibly even frustrating (like being upset because you bought and right after that price went lower). What I would suggest you is to buy BTC/ETH once in a few weeks, preferably at the same date and keep on buying like that,so some sort of collar cost average method.

Ausgewielt

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If there are only two choices then I prefer like to choose plan 2. By that strategy we can minimize the risk and get higher profit, this also make us get better position. But honestly I don't use that strategy, DCA isn't appropriate with my life style. I usually use lump sum strategy but I only trade when I can really get good position, so for now I really rarely go to exchange site but it's works, I usually get profit every I trade my cryptocurrency.

passwordnow

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Take it easy by doing the plan 1 but there's a suggestion that you should also do. How about increasing the portion for bitcoin and lessening the percentage for Ethereum or LTC? You can always go for both of those altcoins but you should put bitcoin at the top priority than them. It is ok to diversify but it will make your portfolio better looking if you've got more in bitcoin than those altcoins. Those alts are likely to balance your portfolio but it's even a good strategy if you'll only go for bitcoin.

aoluain

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Over the years 1 have been buying BTC, ETH & LTC, now its just BTC.

Look at what the Big investors are doing, they are buying Bitcoin, it has
what the long term investors want, wealth security, Ethereum and
Litecoin are not going to do it.

Hardware wallet - Get one now.

dothebeats

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While diversity is king, I personally wouldn't allocate 50% of my funds on altcoins. They have greater volatility than bitcoin, and are somewhat inconsistent on some things that tend to make some traders dump it. In the case of ETH, it's a good investment, although again 50% is a huge number to allocate for your investment on the altcoin. It has its obvious merits, yes, but its market is still far different from bitcoin.

My take: plan A with 80% bitcoin, 20% ETH and you're golden. Though the 'buy on dips' part would really make you work hard in analysis IMO.

Review Master

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Both plans will be good if OP remove LTC from the plan-02. Also it'll be best to allocate more percentage for buying bitcoin weekly instead of using 50% in Ethereum or altcoins. As it's for hodling purpose, than go for bitcoin and ethereum as both of these are in the cycle of profits which will give us profits even after the upcoming bearish markets.

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

Also at what point is a hardware wallet required?

Hardware wallets are more secure than using online or desktop/app wallet. But one thing is more important than all of these wallets which is "Not your keys, Not your Cryptos". So keep private key or memoric phrase in a safe place.

yazher

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Plan number one seems to look good to me since you are constantly doing it. You will not gonna miss the chance if those two cryptocurrencies will gonna spike their price again in the upcoming months. You need to have a plan like something they called exit plan when the price continues to rise and stop at its new ATH this year. I think you should have one especially today. Where everyone is carefully checking the market every day whether the price will continue to rise it will suddenly stop and fall again like last time.

Sterbens

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every month I get an income from a month's work, I have to set aside a ration to buy bitcoin. it's like my obligation to save every month. the second option is Eth 50% of the rest of my finances. and wait for next year.
we have options in a variety of ways to own bitcoin. Instead of saving at the bank every month you will only be charged interest. and I prefer to save in bitcoin.

davis196

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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?

Why do you want to buy BTC and ETH,since their prices are moving in the same direction.
Real portfolio diversification means buying various assets,which prices aren't correlated to each other and are not moving in the same direction-up during a bull market and down,during a bear market.
I think that it doesn't matter if you buy BTC and ETH only or BTC,ETH and LTC.It's basically the same to me.
I'm a Bitcoin maximalist,so I would buy 100% Bitcoin and 0% altcoins. Grin

logfiles

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Plan 1 would be good. But of course while targeting the dips. Sometimes you can easily notice the dips throughout the month. Following the ETH/BTC chart can be helpful.

As for Litecoin, it more like Bitcoin Lite so If I was to go with plan 2, It would be week 1 50/50 BTC and ETH, week 2 100% BTC....

Most Hardware wallets are less than $100, so you can buy it early enough for your assets. Remember, Security is also part of investment Wink

DdmrDdmr

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

<…>

I wouldn’t put LTC into the equation nowadays, especially if it’s taking up a chunk of bitcoin off as a cost of opportunity. That would leave plan 2 null, out of the two you are pondering.

Plan 1 relies on dips, which are easy to see on hinder thought, but perhaps not so much in the heat of the moment. You could also consider the weekly purchase strategy that you have in Plan 2, but applied to plan 1.
You can simulate prior results (which does not guarantee future results) using a DCA simulator such as https://dcabtc.com/. Bear in mind that no type of fees are not taken into account using the simulator. I’d also go with a higher proportion with BTC than ETH, but all in all, it’s always down to your preferences.

Concerning the hardware wallet, that is what I first bought, before even considering the amount of BTC (or else) I was going to acquire.

NeuroticFish

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First of all, "by the book", it's better to have (at least!) 50% of all assets in Bitcoin. I won't comment on your choice of altcoins.
Second, I'd buy weekly/monthly, since dips are easy to miss and you can easily end up buying at a higher dip than you would have bought at scheduled time.

For hardware wallet you already got the best answer from mk4.

mk4

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Or just go with Plan B: Buy bitcoin only weekly or monthly.

I get that you want to speculate with other cryptocurrencies, buy I personally wouldn't allocate more than 10% in altcoins; and I'd definitely put zero on Litecoin. That's just me though, you do you.

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

Also at what point is a hardware wallet required?

When the value of cryptocurrencies you're holding is big enough to spend some money for more security. But since a Ledger Nano S or a Trezor One is cheap enough, I suggest just grabbing one asap from their official websites.

ConnerDalfino

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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?

Topic: Which plan seems better? (Read 783 times)