Bitcoin Forum

What is the best crypto investment advice you can give someone who makes 600$ per month from other job? I'm presently in this situation and due to the unstable crypto market we in I don't know what to advice this person, even 2022 looks bearish to me, help me out

30% Savings
30% Expenses
10% insurance
20% Traditional investment like stocks and indices
10% Allocate  for crypto

If you dont like volatility then its better to play safe on buying bitcoin
even though its not an assurance but at least on the better side of things when you are in doubt.

If you can save 10% of your salary save it or you can follow the strategy of:
I've seen it somewhere and if the savings pertaining to crypto investment, DCA for bitcoin. That would do and just be consistent and you'll see how much it's grown over time for the next years. This is by far the safest method IMO.

In your case, it is better to take risks and bet on projects for $ 50 per month until you find a project that will give x50 and you can increase the size of the bet. For you, this is a roulette game with an unknown number of randomly winning numbers. where you can win and lose a lot at once or constantly lose but a little bit.

And that is the big question, which project will give you x50 when we are about to enter a bear market. So for starters I would say choose altcoins in the top 10 and see how it goes first. Specially if what I said will be true, because in the bear market, the prices of the coins will sure be going down hard and it will be on a bargain. And then that is the right time to buy and fill your bags and then hold for years and wait till the next bull run (if you have that kind of mentality). But if you are here for short term, hmm, I can't advise you on what to invest though, for me it's better if you go long in a bear market.

It depends on what country you are residing since cost of living is a very important factor to determine your proper allocation for investment. If you are living on a country which the cost of living is not that high. You use 30% of your salary for crypto investment but your salary is just sufficient buying your own necessities monthly. You should not risk any money on crypto at all.

Well you are already earning a decent amount from your other jobs which I guess are not crypto related, so assuming you want to invest on crypto as a beginner, I would suggest putting around %17 - 20% monthly depending on your personal expenses (if you want to be Conservative) otherwise you can decide 50%, btc is ideal to buy, however, you can also decide on some top alts like eth, bnb, sol, avax, luna, this are all trusted alts with solid team and utility, of course, the choice is yours, this is not financial advice.
Between, what makes you think 2022 will be bearish? I don't feel it will be but it is always good to be prepared.

Thats a decent earning from a normal job I guess. Its kinda hard to give you advice on crypto cause that $600 could grow or burn instantly on crypto. Try to learn first the basic of trading and from there you can try out to risk your $600 slowly on some alts or bitcoin and try to win the market by incorporating technique from trading analytics.it's not guaranteed but if you use some parameter and indicator you could grow that.

Do not invest what you can afford to lose and there's no such thing as a sure investment in Cryptocurrency, it's better to invest half of it in the top coins in the market, people will recommend new up and coming coins that they think will have potential, you can invest on that but it's better to invest 25% of your allocation if people recommend a project to invest always check and do your own research do no just believe and invest it's your money.

You make 600$ every month right? That means you can invest 50$ into BTC every month you think that's affordable for you? If yes then stick with BTC because I have more confidence on BTC than others and in few more years your BTC would have grown bigger in value

I couldn’t agree more with you. Immersing thyself with the crypto market first is the best advice you could give someone interested towards making crypto investment. Form there, they could determine themselves how much they are willing to risk in pursuing such, and could project the percentage they would want to allot in the market. Along with these, they could also learn the importance of research, and eventually determine the suitable project, coin, or investment that could potentially give them profit.

If this guy wanna go to the save investment and he should use top 10 CMC to invest his money but remember that he was not using his cold money. It will be very risky to invest in the crypto with his salary but this is still worth to try. He can spend at least 5% - 10% from his salary to be used to invest in the crypto. If that guy wants to make more money from altcoins and he can look at the low marketcap tokens in the market. That makes sense for him to start spend a few percents from his salary as investment for the future (legit crypto).

And then you should not give any advice for him coz you're sure if next year may be bearish for the crypto. he should do his own research to determined which was the best crypto to invest for him. I tell you now if's better to let him to do his own research rather than give him an advice. That's his responsibility with his money.

if the income is for crypto investment, I tend to choose BNB. maybe for starters, now he can have 1 BNB per month, and the rest for other investments. however, if it's not all for investment, then use what he's only willing to lose, and BNB is also an option for that. it would be great if 50% of the income he has, he saves in the form of BNB. well, if BNB had a $1k price tag, that would be great. however, this is also my plan for the future.

OP have patience and save up some money on your own without investing them into cryptocurrency. While you save those funds lets say 10% of your salary observe if it affects your economy or not, I mean if you still go back to spend the 10% which you are saving for the investment. If you are okay with the savings without getting your hands on it, before then the market must have made some changes which will determine if you should invest or not, then invest into Ethereum. 

The market might go bearish next year and it's more promising to invest into Ethereum looking at how fast it's growing. When bitcoin is falling in price Ethereum follows the trend as well. So, learn to hold Ethereum for a longer period of time so that when Bitcoin starts to run bullish again, you will be making profits because ethereum will go bullish immediately bitcoin starts to go bullish.

The profits you will see with ETH will be more than what you will get if you invest into other altcoins or even into bitcoin.

To out from the crypto market is not a good deal, Crypto market always give chance to get a profit but many of traders don't book their profit then market goes down so if you don't want to trade then you should hold your money.

That $600 dollar monthly income from a job is already a decent amount in my country, But since you are eager to get some advice I think you should start from scratch, meaning take a simple 101 course and learn about the field that you want to enter, cryptocurrency investment has no guarantee and high risk that's why you should be aware in all of that risk I remember before when I was a novice in this industry because I was lack of knowledge back then I was burn mostly my capital in my first attempt. so I think you should learn first.

It's really difficult to risk the money which is just enough for your needs but if you really want to invest and take the risk, don't put all your money  in crypto. Just invest 20% to 30% of your salary every month in bitcoin to accumulate more and just hold and wait for bull market to come. You're lucky that you earn $600/month which is enough for your expenses and investment unlike in my country which is just half of your salary.

Trading in the cryptocurrency market requires a lot of patience and you also have to use new strategies or knowledge that can help your trading, because when a loss comes out, it will always lose forever, but if it is a loss then try to be able to return the capital and also get a profit next time.

Hm I don't think you can just allocate 30% for expenses without knowing more of OPs background. It is unclear whether the $600 are already for investing or whether it is just the salary.
So first, OP please clarify if you want to invest $600 or whether this number is smaller as you have to deduct your expenses first.

Apart from that above reply already gives you an idea what should be done: split your investments in different asset classes and only allocate a small amount for crypto were a 100% loss would not bother you

The current situation of the unstable market as you think, makes everyone in crypto trading shaken, advice for you.

The current situation, you better choose coins against the direction like BEAR, BNBHEDGE, BULL, ETHHEDGE, HEDGE, and others, it's a counterclockwise coin, you can control from the movement of Bitcoin, ETH, BNB etc, it's a good solution for currently trading.

It may just be the salary.
We don't know if the friend of OP is paying for a rent, own a house/with parents, with insurance, healthcare, and other stuff that is being paid monthly like bills, electric, water and internet.
But if he can save like just 10% percent of that, $60 to be precise, that will be a good number in the long run. No one is rushing when it comes to saving money thru cryptocurrencies especially in Bitcoin or Ethereum. It may be the best window now for the cheap price and you can maximize the amount that you can grab.

long term investment will not be a serious problem if you choose a popular coin ,the problem is the division of expenses from the total monthly income but many have given advice on the first page ! just want to add a suggestion ,invest the money that is indeed "the rest of money" the which has been cut mandatory monthly expenses ,don't be too greedy and have to be diligent in investing monthly with the money that is left

It always depends on what you want to achieve with your money? So you have an income of 600$ per month, i guess you have also a lot of fixed costs, so let's say you have 100$ of spare money left each and every months, then i would still put aside 50$ of that for savings if something unforeseen happens and the other 50$ you can use for your investments. If you want to invest into relatively stable projects then you should choose projects like Bitcoin and Ethereum, usually they suffer the least in a bear market. If you say that you want to go high risk with that 50$ then invest into new and upcoming projects. There you have the possibility for high profits but also for a total loss.

Solena, ethereum, avalanche... Surebets with reasonable return.

If you want to invest in the crypto world with the hard-earned results you make from real work, then you must be ready to accept losses if later the coins you hold are decreasing, and currently many potential coins that we can hold to invest, if this is the first time you invest in the crypto world then some of the capital you have today can be used if it can already face a volatile market situation.

Basically the veterans of this forum will always give you the same advice over and over again. This advice is to buy the dip, do not trade on emotions, do not sell for a loss, and quite frankly, just hodl. If you want to make an investment, you do not keep flip flopping back and forth. You make the investment and consider the money gone, for years, at the least. Come back in a few years, reap the rewards.

Bitcoin? Ethereum? Dot?

Take a pick, it's all gonna go up in the long run. Depends on how fast you're planning to turn it into profit.

The easiest and safest method is to allocate 10-20% for the purchase of top coins. At the same time, taking the time to study the market and crypto in general. Further, you will already have capital and learning where to invest next. All this cannot be done in a short time. It takes time to study.