Bitcoin Forum

Right now, with the altcoins in a low price range, I am thinking of investing small amounts of money in 20 or 30 different altcoins and hold them indefinitely.

Is there a simple way to do this? Buy many in an exchange and store them in the same wallet?

Thank you for your replies

BCAP

you can buy and hold on exchanges but that is super risky because any exchange can run away at any time and if they turn into another one of those like Cryptsy did, all your money is lost.
you can use wallets that support multiple coins, i think Jaxx is like that. and store them there.

but investing in 20-30 altcoin is not going to give you more profit. investing in 2-3 coins that will surely go up big time will give you a lot more profit than that. so try finding such coins instead.

Diversify up to 20-30 coins reduces your risks a lot. So just do it. The first exchange you should visit is Bittrex ;)

just suggestions for you :
wait until the fork of bitcoin segwit2x happened,, for now is to risky if you want to investing in alt
because, maybe alts will go down deeper,

Best way to do it is buy them in different exchange or store them in your wallet. Personally, I find 20-30 are way too little. I suggest you diversify in 100-200 to cut back your risk.

Join airdrops, receive and hold them in your cryptocurrency wallet.

Why don't you buy into a fund made out of several coins, let's say ICONOMI has a bunch of them and the fees are pretty small compared to what the gains are.

You can look into Iconomi and their DAPP's.

My way of doing this is:
Bulid a sheets file with the portfolio structure. You can even integrate live altcoin prices in Google Sheets (the plug in is called cryptofinance and very easy to use).

Then get an account on bittrex, buy all the altcoins and write the transactions in a file.
Transfer the coins out.
I use Trezor as a wallet, it can hold many wallets, others usually require a stand-alone wallet.

If you keep your records and state where are your coins (exchange or wallets), it will be easy to track.

Before you invest any of your money in altcoins then you should provide yourself a good wallet that will help you to secure your coins and that is a hardware wallet which is very secure and because of that you can easily store a lot of your coins and not worry about the security and if you are going to invest them do research before buying any of them in an exchange.

You can try to use the coinomi to store various kind of the coins, you can try to buy various altcoin in the exchange site but remember you must try to read about the compability of the wallet itself. Remember not all of the coin will be able to store in that wallet. You can read the more in the official site.

altcoins are also beeing sold at their websites.

regards

Keep an eye out for https://triaconta.com/ . They sell a "combi-coin" that is asset backed by the top 30 cryptocurrencies. The assets are rebalenced every other month. This way you invest in 30 currencies simultaneously and spread risks. CUrrently they are sold out but I believe they will re-open sales min-November

1) try to avoid new altcoins .

2) use wallet that support more than 1 coins like blockchain.info , Jaxx, etc (use google to find others).

3) use two kind of holding like bitcoin for short range and very long one and ETH for long one .

4) use bitcoin as main one and others for stable price when bitcoin price down (Because altcoins have more stability than others ).

5)Max 5 altcoins is good more than this is so risky.

If all of them are ethereum tokens, its very easy to deposit them on myetherwallet file and hide away. If you plan to buy and hold lot morer coins you will need different wallets on your pc or you need to use safe market like bittrex.

I think not all of them Ethereum tokens, some of them are used in Ethereum. I agree that easy to deposit in myetherwallet. But this is not a brilliant idea. We should analysis the current market status. Which coin is constant increase in the current scenario then easily invest to simple. Beginners are careful to invest in altcoin. They have sudden raise or fall in anytime.

thanks for the reply! I like this fund idea, its like investment portfolios, the company does all the work? Can you choose which coins you wish to include yourself, or they do it?

Yes you can hold, exchange, buy but this are very risky because any exchange can run away at any time and if they turn into another one of those like Cryptsy did, all your money is lost. You can use multiple coins. But according to my self investing in 20-30 altcoin is not going to give you more profit if you invest 2-3 coins that will surely go up big time will give you a lot more profit i think.

Yes you can invest in the numbers of altcoins depending on the amount of risk you want to take. My suggestion for you is to research on the altcoins before you invest.

It is better to store the altcoins in wallet you own the private keys, because you won’t know how long the exchanges will be around. For ETH and ETH tokens, myetherwallet is a free and good wallet to use. But you have to keep your private key safe and beware of phishing websites. For other altcoins, you can keep in the official wallet of the coin. If it is possible, invest less than $100 to buy a hardware to keep your coins safe. Ledger and Nano hardware wallets are two good choice.

What does indefinitely mean? You mean like satoshi? parlk them in a wallet and never ever use them? That would be a waste of funds mon ani, a lot of these alts are just not worth it.

I meant a year or so.

You simply buy into any of already existing funds and store the funds on their platform. I think there is 10-15 different ones, check this link  https://www.iconomi.net/dashboard/  

There will also be possibility to make your own fund and let other people buy them in the near future.

I think that's the right time for investment, but invest in 20 altcoins it's a bad thing because it will be hard to survey everyone I propose to u to put all that u have in just 2 or 4 maximum.

There numbers of ALTCOINS and you can easily invest on them. The thing you should keep in mind before investing that the altcoins which you are buying should have good market potential. Investing on different Altcoins is a risky thing. So you may first do research on different Altcoins And the altcoin which suits your requiremnet that can be purchased.

Well first of all you should think about WHY you want to invest in a particular coin. Most of the coins outthere are just scams and ways to make some wannabe entrepreneurs get rich quick and even Vitalik Buterin already mentioned that 90% of alts will die. It is just like in the real world where less than 10% of all startups do succeed. If you just blindly diversify you will just end up losing money. Do your research and only invest in projects you have faith in and then you won´t need 20-30 alts to diversify

Check out this recent ICO: http://coindash.io/

As in case on investing in various coins it is extremely uncomfortable to install all the wallets, I suggest you to use one exchange for most of coins. If you are new to trading then use bittrex. It is among the most trusted exchanges, it has low fees, low min investments and min withdrawals as well as lots of coin listed out there. For coins not listed there use exchanges where the majority of coin is traded to ensure objective prices. You can find this information on coinmarketcap when you click on a coin and then click 'markets'. Now the prices are low, so good luck with your investments!!!

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