Bitcoin Forum

I asked for a loan to resolve some personal expenses and I still have about $1200 left, I have the intention to invest this money and with all the cryptocurrency uproar I do believe this new universe is probably the best place to invest this money, (if I'm wrong, let me know)

Now, I have two main ideas, either I purchase $1200 worth of bitcoins and hold on to them expecting a higher capitalization, or I invest in mining equipment to mine some altcoins.

I currently have a gaming rig with a R9 270X card, which, for mining purposes is profiting me about $20 a week.

What would you suggest me to do?

If that $1200 left over is from that original loan, depending on the terms of that loan, I'd probably just pay it back to minimize my loan as much as possible.

If you really want to have fun with it, I guess you could buy some BTC and hold.

I wouldn't buy mining gear because $1200 doesn't get you anything that'll be worth it. With the difficulty increases, it's harder to stay on top of the game with actual hardware... Unless you'd be able to sell it for a mini profit in a pinch.

For sure you should buy Dogecoin.  This way, you'll make enough money to pay back the loan AND still have some left over for investments next week. 

The answer is simple:

1) what is your monthly income? (How much do you make after taxes?)
2) what are your monthly expenses? (Add up all of your fixed and average your variable expenses)
3) how much do you out towards savings and retirement every month?

Income - expenses - savings = excess

If you have excess left over every month, then by all means spend it in a Bitcoin, Litecoin, Dogecoin, Potcoin...whatever. But realize that it is a risky investment, and prepare for the possibility of loosing everything you invest.

As far as the $1200 is concerned, what is the interest rate? If it is high, like >%7...then use it to start paying off the principal of the loan.

Mining equipment would be a safer way to invest in crypto currency in my opinion.. it provides a steady stream of income..  ;)

By all means, pay off the principal of your loan as much as possible.

Only invest with play money, not with loaned money.

Mining bitcoin makes much more sense than investment.

Think that even if bitcoin price come down but it will be worth for something and since you would be mining them so at least somewhere you will make profit.

My recommendation> Go for mining if instead buying it.

If you doesn't have any interest on the loan and you want to invest the money, why not? It is risky and it is always nice and often a good idea to pay back your loans asap but investing money that doesn't cost you anything can get you some profit

If you are new to mining, do all your calculations then do them again to be certain that you will have a profit

Depending on the investment, sure. But investing in Bitcoin (which is considered high risk, no matter what anyone tells you here) with loaned money is a bad idea.

Let me give you some solid investment advice: only invest in things you know about. Asking others for investment advice is already a bad start, but if you do that at least do it with money you can afford to lose.

That being said some people have a high risk tolerance (gamblers for instance) so I'll give my views regarding this space. First, I'd say this space has the most opportunities, but that doesn't necessarily mean it's the best place to invest, if you're not a professional investor. The best way to invest here is with your own time and energy. Take time to learn all you can because knowledge itself is valuable. If you have skills invest those too. Investing in the form of your own equity stake in what's going on here is probably the best investment approach and can be done many ways.

As to the question of mining equipment or coins I'd say mining hands down. Coins are too volatile, even Bitcoin, and often require the ability to hold for long periods through downturns. Mining OTOH has different dynamics and you can sell your equipment at the least if/when things fall apart (except asics of course).

Hmm,

Never ask the barber if you need a hair cut. I guess it is from Warren Buffet. One of the best investors all time.

People here are either speculators or miners. If they are miners they want you to be investor and if they are investors they want you to be miner. They may have vested interests.

Either way, I think you should think a lot by yourself.

Whatever you do (mine or speculate) it will be risky. If you do on loaned money, than the risk is even greater.

If you think the conversion of bitcoins is going up on the time horizon of the loan, then you should buy it, if it goes higher than the interests. This is already a lot risky. And mining is way more risky.

Using loaned money as an investment is very risky,  especially with something as risky as bitcoins/altcoins.

Really depends on the nature of your loan I suppose,  but if it were me I'd be focused on paying off my loans.

+1
Don't invest money you can't afford to lose, or get gains in a short amount of time - BTC will most likely stay in the $800-$1200 range this whole year

How about paying back your loan?

Seriously, if you have to ask strangers on some website how to invest your money, you really should stay away from investing.

It’s much better if you will invest it in bitcoin. With bitcoin’s skyrocketing value, you will sure earn big profit if you put your money into it right now.

Agree with others that you should just pay back your loan...
If you have some extra money on hand, you can invest part of it in bitcoin; but not with your borrowed money.

Skyrocketing? Last Fall, sure. Now it's stabilizing at $800... We all wish it was, but skyrocketing it is not.

Great advices :
 - Do not invest in things you don't understand
 - Do not invest in ASIC Bitcoin mining

I am keeping 100% of my wealth in crypto-currencies but it's been over a year I am into this and I am spending all my time on this forum to get more knowledge everyday.
Knowledge is the key in crypto-currencies, you can make huge profit like you can't imagine but you need to spend all your time getting informations.

I think invstment is a good idea. Especialy now when world is overflowed with crypto curencies.
I invested some of my money into @Viberate_com platform.
You can read more about it on link bellow:

https://www.viberate.com/participation

Whish you all to invest the right way!

Better invest the excess in bitcoin because of big turnover that you can get after quite sometime and who knows with the current pricing of bitcoin it pump more than 100% on few months and if this will continue thru bitcoin investment you could have paid all your debts with something left for you to start up. Bitcoin is a good investment to take just be wise and don't get scam.

Maybe you can buy 1 Bitcoin Cash

It's really a gambel to play with money that u still need to payback. i wish all the luck and i advise you if you are not going to pay back that 1200$ any time soon ,that you should invest it in bitcoin. as the profits are guaranteed or you could learn more about trading as it's good for the short term gains.

Inversement in bitcoin is always beat one.The price of bitcoin is now moving up to the next level. So the price of bitcoin will reach 20,000$.If the price of bitcoin is reduced to 11,000 or 10,000 you can proceed to buy.Always avoid of panic selling by seeing the fluctuations.

Exactly, many have lost througb panic selling of their bitcoins whenever there's a slight tumble in its value and so it's better to hold for the long term no matter the price you bought it for. History has shown us time and time again that Bitcoin always grows back to surpass where it was before tumbling in value.

Never invest all your money on Bitcoin. As much as possible, start small and try to do some trial and error to be able to grasp how things are managed.

Mate you should consider buying eltcoin, scorecoin, rebellious, and or ebitcoin. Mark my words that all four of them will pump high if you buy now.

sold advice

I will consider the loan interest rate. If bitcoin growth is much more than the loan interest rate, I will buy Bitcoin with $1200. However if the loan interest rate is too high, repaying the loan will be a better idea.

Invest only just a little then try again to add more after that if you earn do buy some coins again then repeat where you earn,investment in crypto is so easy to do because you need only to buy in low then sell in high it's go hard for you because you do it with not listen in others ideas like invest in a coin that already trusted here like btc,eth,xrp and xrb.

This is a great suggestion. You should talk more specifically about this issue. There are probably many investors present on this forum also looking forward to your answer. Bring something valuable and interesting. I think you have done it and would like to share it here for everyone to study and exchange.

Probably, my advise is you should have to research for the right time to buy bitcoin and you should consider not to invest more that you are willing to lose and always keep that in mind that there is always risk involved for every investment. You should only buy bitcoins from an exchange with high reputation and use a bitcoin wallet to store your bitcoins.

Since most of the market is in red today and Ethereum remains strong I think it is a good time to buy some more coins from ETH.
My pick at this moment is @Viberate - VIB. Nice updates coming from development team in Q1 of 2018. Check out their roadmap.

If you dont want to spend your ETH  then you can still earn some trough rewarding system.

Register here:
https://www.viberate.com/referrals/ce18a51e_8544c552_daed2202


Read more here:
http://www.metalsucks.net/2017/12/11/viberate-rolls-out-a-rewarding-system-allowing-music-fans-to-earn-crypto/
https://change-underground.com/viberate-free-crypto/

only use the surplus money that you won't be needing for a few years, please never invest when you are on loan, just pay it back.

$ 1200 is not a small capital to invest in coin. You should thoroughly investigate the coin before making a decision. Follow me you split 50% buy ETH keep it future copper eth will be up $ 2000. 50% buy in a short term can be profitable.

    You know what pal, if that $1200 is what's left from that previous loan you did,  i would suggest that you give it back now as payment for your recent loan so that it will decrease. Then, work instead in the forum while using that ging pc as altcoin miner to get capital or at least until you pay up the loan and have enough extra cash to play with. Doing this will not only give you lots of extra income for capital but also increase the knowledge you already have here in the crypto world. Which obviously is something you can benefit a lot with.


     But, if you really wanna play with that money, i suggest you read a bit first and understand altcoins and icos. Then invest in promising icos. This will surely guve you lots of profits if you manage to do it right.

I suggest you pay off your loan before investing, although investing it may be profitable, it is extremely risky. You may end up asking for another loan if things go wrong.
You have a gaming rig which you earn $20 a week, that seems to be a good start. Combine it with hard work, maybe a job or if not, try to join campaigns here in the forum and earn bitcoins or altcoins. Not only that you didn't put out cash, you also paid off your loans and more importantly(might happen) extra income that may give you what you want(buying bitcoin/buying mining equipment).

Read a lot and never invest money that you can afford to lose.

my honest opinion is buy bitbay on its next dip if there is one.

this currency is solid

the dev is skilled and battle tested and this coin goes up and down nicely.

this is not your average shit scam alt coin.

I believe it will outpace btc. It is low risk med reward alt.