Crypto Investing

[Ramo]

I was given $2000 to invest into crypto as it seems to be the currency of the future. I invested 70% of it into ethereum, 17% to litecoin, 3% into BSV and the rest mixed.
Any advice?

 

[Remnicore]

Seems like you already invested, therefore advice is a little irrelevant...

 

[Zyger]

BSV's gonna fall most likely

 

[Ramo]

What even is BSC, like there's alot of different Bitcoin sub-coins i guess, also yes i have already but i can sell and trade.

 

[Zyger]

What even is BSC, like there's alot of different Bitcoin sub-coins i guess, also yes i have already but i can sell and trade.

You invested into a crypto without having any idea about what it is?

 

[doodle]

You were supposedly given $2,000 to invest and chose to invest none of it into BTC? Sigh.

 

[Zyger]

Bitcoin SV: its the definition of shitcoin, why investing into a shitty Bitcoin fork and not Bitcoin itself? If you invest into this shit you either dont know anything about crypto or you dont have braincells.

cRAiG wRiGhT iS sAtOShi!!1!!

 

[Anvity]

You could have just saved it

 

[Kryth]

I would have done:

• 65% BTC
• 15% ETH
• 10% XRP
• 5% LTC
• 5% XLM

You would basically have your own crypto ETF and ride the crypto market similar to SPY or VOO on the real stock market.
This is what investing really is, not just throwing it on a roulette wheel and YOLO'ing it.

 

[Timed]

New to crypto so correct me if I'm wrong. But I would suggest day or swing trading part of your portfolio, but keep some for a long term investment as well.

 

[500miles]

Crypto is a terrible investment at the moment...

 

[Zyger]

Crypto is a terrible investment at the moment...

Alright, lets see what the price is at in 3 - 6 months

 

[500miles]

Alright, lets see what the price is at in 3 - 6 months

Ok...
I'll come back to this thread later

 

[500miles]

Alright, lets see what the price is at in 3 - 6 months

ok

Nice profit *cough*

 

[Cian]

ok

Nice profit *cough*

Alright, lets see what the price is at in 3 - 6 months

I mean I bought a bunch of coins recently when they went down a fuck ton.. They've all doubled now, not sure whether to sell them or not at this point.

 

[Cashew]

You can invest in crypto, but also realize there are millions of other (safer, riskier, more profitable, etc) things to invest in. Stocks, bonds, real estate, startups, I mean there really is a bunch of shit to throw money into.

What you should do from here (after you basically took $2k and burned it down to probably less than $500) is first and foremost, do your research. Research well and don't stop until you can explain to a 10 year old what you are doing and you have a plan in your head about how to make your money. Just because BTC spiked at $20k, doesn't mean it has to happen any time soon or ever again for that matter.

BTC probably isn't going to be the coin of the future either, only because there just isn't enough in circulation and the market would need to change significantly for it to become a stable currency. Not that it can't happen, but it would take a lot of adjustment, so i'm personally saying it isn't likely. Also, people like anonymity, but they like their money more. If you can't refund/chargeback/insure your crypto, people won't support that in a mainstream way (such as USD). If you were about to buy something expensive (new computer, phone, car, etc) and you had no insurance on your money, someone could take your money, not give you jack shit, and run, all while you are now down a shit ton of money and have nothing in return.

Moral of the story is this, there will never, ever, ever be complete anonymity of anything, but especially not something that runs the world like money does.

(Turned to a rant because of comments, rip.)

 

[500miles]

I mean I bought a bunch of coins recently when they went down a fuck ton.. They've all doubled now, not sure whether to sell them or not at this point.

we're talking about buying bitcoin when Zyger made his post. If you bought bitcoin then, you would be still be down 5-8% when bitcoin hit 10k this month

Congrats on the profits though :tup:

 

[Zyger]

ok

Nice profit *cough*

It has only been 3 months, wait until the halving flows through.