Bitcoin Forum

Hello, I have 2 questions:

I have about $1k I want to invest in crypto... being a teen I want to invest this for the long term 5/10 years, what cryptos should I invest in ?

I have looked into Exodus and with the recovery phase, is it a safe way to store crypto ? I know about paper wallets, but they are not a convenient way to access funds and also can be effected by the environment, water, stolen etc... This is why I would like to use exodus, it seems like a good method.

I don't want to use a hardware wallet, If exodus is considered 'safe' I do not feel a hardware wallet is necessary for $1k amount, also its not as convenient.

Thanks !  :)

Christ, I hope this is your own money.  That's a pretty reckless decision.
As far as I know, it's a safe way to store crypto.  I haven't seen any reports of serious problems yet.  But there are a couple of potential problems:

1.  If someone has access to your computer, unless you protect it properly, they may be able to steal your funds.  This includes malware as well.

2.  Exodus is not open source, so it's not as easy to check it over for malicious actions by the developers.  In the context of a cryptocurrency wallet, this can be quite important.

Basically, it's fine, but it might be good to try the reference client for whatever coins you're interested in.

With that amount of money, although it could be considered a safe service, I'd still recommend a hardware wallet in order to be more responsible over your own coins, but that's just my opinion.
As for good coins to invest in other than Bitcoin, personally I'm looking at Monero, Ripple, and Litecoin.

And as a word of advice, try not to give into FUD and always think about a decision before taking somebody else's advice.

Good luck!

Why is it reckless? Super smart if you ask me.

If you have your private key, it's safe to store your coins there, I don't use exodus.

For the ones you need to invest, you can make a portfolio, but make at least 60% of it as bitcoin and 20% of it as ethereum. The rest is up to you, there are many different ones out there.

I assumed that it would be more of your savings than that, since most teenagers don't have access to $10,000 of their own money.  But 10% is fine and it could be an interesting experience for you, I suppose.
Blockchain.info doesn't have access to your private keys.  But your concern about web wallets is understandable.
It's unlikely, but there is some risk.
Knock yourself out.  If you want more advice about that, head to the altcoin boards.

If I had an additional $1000 to invest, I think I would diversify by buying several cryptocurrencies. I would stick with some of the major ones like Bitcoin, Etherium, Litecoin, Dash, Iota and Neo.

I would come up with some percentage for each one for my portfolio and then build from there. You should do research on the top coins to see which ones you think have the most potential as a long term investment.

It depends. It's reckless if the $1000 is like the majority of OP's savings. Also, it's also quite reckless for OP to invest $1000 but not invest a percentage of it for a hardware wallet. He/she's taking unnecessary risks. I'd personally buy one just for peace of mind.

50% Bitcoin, 25% Litecoin 25% other sounds like a reasonable plan. I would suggest that if you are looking at 5 - 10 years, find a way to store your private keys If it was me, I would have a few paper copies - digital can be hacked easier, and sit back and forget about it.

Imagine if you put $1,000 investment n crypto this way 5 years ago and decided to spend it today.

bright idea being a teen you have a plan to your future choosen investing int bitcoin are very wise decision at your age, i support with your decision but you need to place your bitcoin in a very safe wallet,
i suggest with you store your investment in electrum this i know one of safety wallet, but if are sure in exodus to store your crypto make sure you have an secured privateley and do not share to the another people for the security of your coins.

if it is really 10% of your total savings then go for it and enjoy. it is a good idea to invest most of it in bitcoin and then spread the rest among only a handful altcoins. i wouldn't hold altcoins for long term but some people do, and if you think it is a good idea you can do it also.
but i suggest a limited number because it is easier to control them and make decisions in case all of them dropped. if you have 20 and all drop you can't do anything but sit and cry :D

If you want to invest in cryptocurrency there are a lot of choices for you to choose cause there are more than 1300 cryptocurrency on the market. But if IMO if you want to invest in long term about 5 - 10 year I think you should choose BTC or ETH only, with 1000$ it's not enough to buy 1 BTC so I think the better option for you is ETH. From the early of this year ETH price has increased more than 4000% so it has very good potential in the future as Bitcoin or maybe better than Bitcoin.

Beside you the wallet, Exodus is a good one but it's not totally secure, if anyone can be able to hack your wallet seed or private key, it'll be terrible cause they can steal all your cryptocurrency. Coldstorage wallet is still the best, the most secure wallet although it's affected by a lot of factors outside but I think you still should choose it.

You say that you have in plan long-term investment so when you buy coins they will stay on some wallet for years.In that case do not use any online or desktop wallet because they are most vulnerable to hacking.Best way to secure your coins is to invest around 100$ in hardware wallet,write your seed and make few copies-save them in safe places.Hardware wallet is quite convenient for everyday use and for long-term storage.

Regarding coins you should invest,number one is BTC,maybe some % should go to ETH-but all others are actually gambling with luck.They may worth something or nothing in 5-10 years.

I personally think there is any problem in saving your bitcoin with Exodus but is that since you have of investing for a long time period why don't you invest some percentage of your capital into some other altcoins and some new projects during their Initial coins offering because that will bring more return on your investment.

I like the idea of using paper copies because we can save it into deposit box and put take deposit box into the bank, don't open it before 5-10 years. I think it will more save to do this or you can use hardware wallet but with many altcoin options. investing $1,000 today is really good and you can choose the coins from the list in the exchanges so you can directly save into your wallet.

When I was your age I invested some money to buy Bitcoin. I think it is the only genuine crypto-currency potential to increase in value for next coming years. If you want to spread your money over more currencies then I would chose Litecoin, it's identical to Bitcoin but has 4 times more supply, 4 times faster block times and it's not over populated so the transaction fees aren't that high. 85% Bitcoin and %15 Litecoin or less is a good choice. The safest way to store your coins is a paper wallet. After buying your coins using an exchange you can easily withdraw your coins to a paper wallet. Then when you feel you want to use your coins, you just import the private key to a desktop wallet. I don't think a computer is much saver to water or getting stolen. Make sure you make an extra copy and hide them on different places.

well.. if you think of it, a thousand dollars could be good for investing but isn't it weird because bitcoins could drop off or not but this may be a big risky to do for a teenager.. and i suggest to focus more on studies and for future jobs. although we have different methods and strategies to make our lives better than before.

I recommend to not keep your money into an online wallet for a long time because online wallets are the most vulnerable to hackers and also the easiest to hack. Everyday,hundreds of wallets are hacked and on a long term your wallet could be one of those.
Invest some money (50-100$) and buy an hardware wallet where you save you seed and all the informations about wallet, and also make a few copies in case the first is lost.Hardware wallet is easier to use and a lot harder to hack, maybe even impossible if you are careful.
Regarding what coins to buy, I say bitcoin in a big proportion(80-90%) and ethereum(10%). It think both of them are going to survive overtime and the price will increase. It is your choice to choose what you spend your money on.

It is a good moment to start, but you are a little bit late to the party. $1k is not a big amount since it is less than 0.08 bitcoins.


WORST thing that you could say, you already made your first mistake. a LEDGER/TREZOR are the best ways to keep your bitcoins safe, exodus is shit.


Better to make a good research before investing, you are just a teen, probably you do not even know how cryptos works because you are just blinded for the money.

If you do not want to lose your money, do not start trading, otherwise those $1000 would be $100.

with 1k $ to invest in a cryptocurrency so still profitable, by choosing cryptocurrency wich to buy. but , if invest 1k $ from now in bitcoin ,growth profit so small and have big risk. but if you still want to invest in bitcoin, I suggest to make your own mining rig.

Only if you think cryptos are dead.   people felt the same way about bitcoin when it hit $1,$5, $10, etc.   there is plenty of money to be found at current prices.   As a teenager, I would recommend a different path and invest more of my savings into it and include a hardware wallet as part of that investment.    Go with your gut and not just the advice of strangers (myself included).

Use an offline wallet (like Electrum), that is better than an online or exchange wallet which can steal your money at any moment
I think that you could invest the money in Ethereum, that have big potential, and the price is growing up
But it's just my advice

1. Invest on bitcoin
2. Exodus is good, but it is still a good thing to make a paper wallet.
3. You are still a teenager and maybe you dont know how hard to achieve that amount. 1k usd is a big amount, dont make light of it. If you can afford to make 1k usd investment, it is best to have a hardware wallet. You said that you want to hold it for 5-10 years, if the bitcoin price going up, your 1k usd might be turn into 10k or 100k (maybe), think again.

You've already gotten a lot of advice but here is some more on storing your crypto.

Remember, you aren't actually storing your crypto.  Your crypto is always on an address that is on the blockchain.
It can only be moved by using the seed that can access that address/addresses.

The only way your crypto is insecure is if someone gets your seed.
So if you are using exodus, it is secure so long as your computer doesn't get any virus, hacked, or phishing scheme where they can go into your computer and get your info.
This goes along with any wallet on your computer, whether it be a gui, an app, or myethewallet or stuff like that.

You can also store your crypto on a moblie app.
In the same way as your pc, your crypto is secure as long as your phone is secure.
Some people like using mobile apps to store their crypto because it utilizes touch id.

The last is paper wallet/hardware wallet.
They are essentially the same thing where your seeds are secured using something physical, which can be more difficult for people to get their hands on, and even if they did, it's highly unlikely they will even know what it is or what to do with it.
The risk of paper wallet/hardware is just what you said, it can be lost or damaged.

If you have a picture perfect photographic memory where you can remember every single character in your seed and addresses I guess that would be the best way to store them lol.

I wouldn't recommend you doing that as entering in the crypto market as your first investment would be a bad move for you. Why not try the stock market at first in order to learn the basics of investment. Because basing it from my personal experience investing in the stock market is way different from buying cryptocurrency, you will even get shock on how different they are. Also from what I believe in what you are doing in the cryptocurrency market is not called investing but trading so I wouldn't recommend you keeping your Bitcon 5-10 years from now.

I agree with @kingcolex, hardware wallet is always the way to go and 101 % more safer than software/web-based wallets.
I don't want you to follow my mistakes so I'd suggest you to invest your money only in good and trusted coins like BTC, ETH and LTC for example (my first "investment" was pure blind gambling in a particular ICO that ended up dying out). Good luck !

You cant go wrong with Bitcoin, Litecoin and ETH.  For an investment of $1000 you will do good. Just make sure to save your private keys or use a hardware wallet.  Forget about the coins for a long while and one day you can look back and see how much your investment has grown.

Finally a high ranking member giving good advice instead of sitting of their high horse.

+1 to this advice.

Okay few notes before you may wanna proceed with the investment.

Choose your wallet depending on where you are investing your money, I mean the nature of coin. It is straight thing that if you are investing into altcoin then the most widely and securely used wallet is my ether wallet. They will provide you all the safety measures such as private keys, keystone file, phrases etc. These things will make it really easy to access it later in the time with safety.

For bitcoin storage I will refer you to electrum wallet. The best one and very simple to use. I prefer it again for only one thing, that’s the private key access to the wallet. So you choose your way now.

The question is, what kind of investment do you want to make with your bitcoins? Do you want to hold and store it for its value to mature more or are you considering on investing it into cryptocurrency websites such as usi-tech.info, etc.?

If you want to hold your coins for the moment in for extra security, I would choose on providing myself with a hardware wallet so that no one can ever hack it. Second, you should be ready when it comes to investing your money and you must consider it as money that you are willing to lose. Third, you must be updated with any relevant news to bitcoin since you might want to consider the right time to invest it. Lastly when you followed all of the necessary steps, just pray and hope that you yield the profit that you are hoping for.

You know what, my mom always tells me that I should always look forward into investing my money at my current age (college student) since regardless of my investment gaining or losing profit, the damage of losing my money is tolerable compared to people who have obligations to consider.

Thankyou for your message, I agree that it is important to invest when young as if we loose then it is not 'a big deal' compared to when you have responsibilities.

What coins do you personally hold for the long term ? Im thinking going 40% on BTC, 25% Ether, 25% LTC and 10% on mixed others ?

I don't see any future in Ether. I'm holding BTC, LTC, and some BCC in case it got pumped again. I'm currently looking for an interesting altcoin to put my money into. ADA is looking promising. It's difficult to pick an altcoin that isn't a pump and dump shitcoin. All dev teams are feeding us with promises, like Ripple team did and then nothing...

Stick with bitcoin only If I were you. Don't bother to buy altcoins as they are more volatile than bitcoin and the returns is not that good either. The only other altcoins that is better for long term investment is Ethereum. The rest is shitcoins.
Exodus is a good wallet and it is safe. And as long as you have the recovery phase or the seed and keep it somewhere safe, you don't need to worry. Goodluck on your investment journey.

it would be risky to invest now the price is really volatile some are saying it might crash what i would
suggest is go invest in an altcoin which according to you can be a good future bitcoin price might fall but
you should still hold it and dont panic

If you have questions about wallets, you should check out my youtube video : https://www.youtube.com/watch?v=c_e9zKlqngA

I would recommend you to invest the whole $1k in Bitcoin. Its value is very likely to increase in the upcoming years. If you don't want only Bitcoin then consider investing about 30% in Ethereum. It is very popular due to support for tokens, there are a lot of them on the Ethereum. If you don't want to spend any extra money on hardware wallet then I would recommend you to install Electrum and secure your wallet with a long password. After you do it, you can copy it anywhere or even upload to the cloud (it is encrypted so even if someone hacked your account it wouldn't be possible to spend your bitcoins). If you have any more questions feel free to PM me!

That is your basic diversified portfolio, but that 10% on mixed others part seems to have no purpose at all.

if you are putting in 1k, then 10% will be just $100 in another coin or other coins?
100 in just one coin will never get you huge returns let alone spreading it to two or three.

Even if you put it in a coin with insane growth, you will only see a couple hundred dollars profit because you have put so little into it.
Instead, I would put that 10% into btc.

Or, if you really want to learn and do something risky, you can try day trading with it.
Since it's only $100, you won't lose much, but you can also use that to actively make buy/sell orders on exchanges to gradually increase your btc.
you would basically buy $100 worht of btc, send it to an exchange and leave it there.
Watch the markets, buy a coin when it is low, then set the sell order for higher.
Once it's sold use the btc you earned to repurchase with another coin.
Rinse and repeat with whatever coin you see that has short term gains.

Other than BTC, ETH and LTC... Would you consider Monero, Dash, IOTA as good investments also ?

I think it is a safe method of storage. I'm about the same situation as you, I'm 18 and I invested in Ethereum, monero bitcoin and litecoin. I think it's a great coin for long term investment.

Out of curiosity, how do you store Monero ? It is not compatible on the Ledger Nano S

I don't have much knowledge with exodus but the way I see it the online wallets are all good way to keep our bitcoins it's just a matter of properly safekeeping of our pass phrase so that no obe can steal or hacked your account, with regards to investment it is a good thing that as early as now you were able to think about your future and putting some money for long term investment in bitcoin is really a good idea and I think by doing so you can become financiallg stable in the future.

if hold the saffest crypto is bitcoin because it is the first. u will get 1/10  income every rising price

Where do you think the value of BTC is in 10-15 years. I have a pension that kicks in 21yrs from now, but would love to retire early and live off BTC for a few years.

Honestly, I'm a bit of a newb to this stuff, and no expert by any means, I'm just calling for some basic considerations for crypto investments.
That said, I have been doing a fair amount of reading and thought over the past few months, and tbh I don't think Bitcoin is going to be worth all that much 15 years from now. It excels at nothing. Right now it's running on little more than brand name, and it's only a matter of time before it's crushed by already existing more nimble, more capable coins. My advice, if you're looking to invest for the long term rather than to spend much time trading, is to diversify and to try to spend some time researching coins and comparing their relative usefulness. Besides that plenty of other coins are much more capable, they've also got a lot more room to grow. Personally, my biggest hopes are for IOTA, but I'd never put everything on one coin.
As far as total global crypto cap 10-15 years from now, who can really say, there are so many variables (I think the legal backlash is a particularly strong threat, as are security catastrophes, such as inevitable quantum attacks on coins that lack quantum-resistance), but in my mind $3-25 trillion seems like a much more reasonable conjecture, and there's a good chance that whatever coin comes out on top makes up at least 20-40% of that.

This is a great response.
I don't think Bitcoin is going to be worth all that much 15 years from now. It excels at nothing. Right now it's running on little more than brand name, and it's only a matter of time before it's crushed by already existing more nimble, more capable coins.
While I don't want to, I'm leaning towards agreeing with you. However, I think BTC will hold it's value for at least the next few years. As new coins are being developed, they are usually matched with either BTC or ETH for exchange. Buyers have to convert fiat to either BTC or ETH, and then use that in purchasing their new coins/tokens. I believe this tie gives BTC an almost 'gold standard' equivocation, and will help support the price going forward.

For sure. I think it's probably got another strong few years left in it, and it probably makes sense to put money in BTC for short-midterm gains.
In fact, I've played a bit risky recently and have dumped most of my altcoins over the past week to put ~75% of my funds into BTC to take advantage of the fork pump. I'm excited to buy back into alts at bargain prices with my gains! I will probably dump the BTC 4-10 days before the fork and move every cent out of there, because I'm smart enough to know I'm too dumb to anticipate how the post-fork chaos will play out--a catastrophe seems all too possible. I'll probably keep ~10% in Bitcoin Cash in case of a flippening.
After the fork settles down, when a victor seems to emerge, I'll probably put a 10-20% in the dominant Bitcoin chain, as I do think 2018 is likely to be a really good year for it. It's gotta die eventually, though, and when it does I think it's going to die pretty hard.

I should say, I do think getting to a million with the amount of money in current USD that OP is talking about is a stretch but fully possible, I just don't think there's a close to realistic chance of doing so by dropping it all on BTC, specifically, and not touching it for 15 years. If diversified into smart investments that include coins other than BTC, and if traded at least every once in a while when long-term winds appear to be changing significantly, then, yeah, I think you have a definite shot at it with just $1-10k. That's basically what I'm hoping for.

1 BTC = 100 million satoshis. So you own 25 million satoshis already and are therefore a multimillionaire. Congratulations!

I also own many million millionths of a penny.

Invest in learning markets structures, marlet cycles, technical analysis, etc before moving to buy several altcoins. You will find it less risker than going in blind and trusting your gut.

It's best to invest bitcoin if you are looking for a long term investment. Just make sure to secure your funds because once your bitcoin is stolen, there's no way to get it back. Just find a wallet that you think is safe and secured. There's a lot of wallet there, use the one that you think that is secured and convenient.

I am really impressed how a young man want to invest his money in cryptocurrency while maybe most of his friends spend their money on video games :)
With such mentality and wisdom you will be a successful and prosperous man.
Since you are going to hold for 5/10 years, my suggestion is to invest your money in Bitcoin it is the safest investment right now.


The best thing to do is to use a hardware wallet like Ledger Nano since it accepts altcoins and will keep your private key safe even if you will invest only 1K$.

Thank you for the kind words man! I just purchased a Ledger Nano, thanks to all your help.


Now Im just wondering what to invest in, I would like to have Bitcoin, Litecoin and from my research I think Ether will be big in the future, Monaro also seems like a good coin ?

With 1k and looking to the future I would probably just go for 2 coins and they would be bitcoin and ethereum, I would split my funds 70/30 between them and then leave it be! I can't comment on exodus as I don't know much about it, sorry!

For me as a newbie myself and a teen who discovered cryptocurrency at the late stage. I openly and without regret invested the same amount as you but stored in a hardware wallet of my choice. This is the best option as I have the available device given by a friend who encourage me into crypto. Don’t doubt in trying if you only choose bitcoin than any other coin as the starting.

Firstly being a teen gives you an opportnity to enjoy your profits in the futre when the money will bw needed the most so your timing to invest is just about right.
Secondly, Bitcoin is still considered the biggest money mover in the crypto world and I think 60% can go into bitcoin, then the rest invest in an altcoin like lend,aion,eth,BitClave,indahash....

When it comes to the security of your wallet the most important thing you need is the private key and if 2fa can be enabled even better and as for Exodus not heard anything bad about them but certainly a good multi-cryptocurrency wallet, wouldn't mind trying them out.

It depends. It's neglectful if the $1000 resembles the dominant part of OP's funds. Additionally, it's likewise very heedless for OP to contribute $1000 however not contribute a level of it for an equipment wallet. He/she's going out on a limb. I'd by and by get one only for significant serenity.

I would definitely recommend getting a hardware wallet, especially if you plan on holding your coins for many years. It can be a real life saver down the road in case anything happens to your online wallet (or exchange you're keeping your coins on). As for which coin to buy, i'd just buy bitcoin straight up and hold it. You'll see some nice gains in 5-10 years.

I think exodus is fine for $1k of crypto for now, but the real question is what will it be worth after 5-10 years.? What if it is worth $1 million at that point.?
I would suggest to buy a hardware wallet but it has some limitation regarding the coins it hold. So think twice and let us also know what you will do.