Alts are at minimum levels currently, so I don't think buying btc now is a great option. It's already high though it can still go way higher but too risky to buy into it now.
My first advice is to join a paid crypto signal. They really help in directing and organising pump action for alt coins that you can easily make money off.
Learn crypto trading.
Some of the coin I suggest you buy is HOT, ETC, Tron, ETH, LTC, NEO and a few others.
If you know what you are doing and your investment is good you can easily make $500 to $10,000 or much more monthly. Those alt I mentioned are already at their dip so you can't lose much.
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I would choose one of the 2 methods below to increase my holdings:
Method 1, trade alts for some BTC, wait a few years. Ignore the bumps and drops across weeks or months. Method 2, simply offer to perform services in exchange for BTC. Offer Bitcoin as one, or as the only accepted form of payment.
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Trading is not easy and one of most important lessons are to know when to cash out and how to read charts. Maybe you can read others' trend analyzes via TradingView or choose popular traders using eToro to do copytrading. There are tons of tutorials on the net, Google them.
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Well if you can hold and wait 5 months or years, it can be profitable if you invest long term.
If you’re planning on day trading, then learn to read how the chart works. It’s not always 100% accurate with prediction but you have to learn to be one step ahead and study the psychology of the market.
I did full time day trading in 2017-2018. (Part-Time now but isn’t as effective because you don’t know every markets’ movements)
Don’t trade base on your emotions.
Also almost every coin outside of the top 300 are most likely shit or scam coins. (and a few gems)
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I think you should better build your strategy.
Do not get emotionally attached with the market. You shouldn’t be excited or upset when the market goes up or down. Remember your main aim. You are not the gambler but the owner of the casino.
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GPU's for mining have warranty of 2 years. If you push it to the limit, they hardly last the two or maximum three years. (a lot manufacturers cancel the warranty if they can see the GPU's were used to mine.)
So if you calculate the costs of purchasing a rig, estimating the time that GPU's will work, they're still not profitable now. And there is no use mining if it barely costs electricity costs cause you're only tearing the GPU.
Also, don't forget that difficulty increases every day which also effects the outcome. It would be considered actually possible if you're willing to gamble that the price will increase.
Much better to just buy the coins in stead of investing much more and trying to mine it.
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I think BNB is suspicious as it is central and one exchange runs it.
Also note how there are sudden price swings. I think those are the exchange owners selling so they can make real $$$.
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The most popular and safe method to store high amounts of Btc is a hardware wallet. (Ledger Nano S, Trezor etc.)
Another cheaper option that offers about the same security is a paper wallet, but you need to take care of where you store the "paper".
I bought a Ledger Nano S last year and I'm very happy with this investment.
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It's hardtop believe that any other crypto will have the popularity Btc has right now.
Nobody knows how the future would look like, but most probably Btc will remain the main engine for cryptocurrency for many years.
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Crypto has room to grow more especially bitcoin. The only problem with cryptos is they are very volatile!
However, don't invest in crypto money you cannot afford to lose.
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Barely a 28% dip on the way up and it's panic across the board. Lol
In 2017, we had five major dips, the smallest being the last one which was about 30%.
Bearish retracements in 2017 37% 35% 41% 40% 30% (20k price reached)
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Lol, the dollar has the backing of federal reserves, all the assets of the government (which infact is elected by people) and global trades carried out in USD. Also, the relative value of USD and all other currencies is decided by World Bank using the PPP for a basket of goods and also the health of the nation's economy, whereas the BTC is just plain and simple, expectations.
I am not saying it will always be this way but as of the current scenario, the price of BTC/Crypto is mostly derived from speculators / traders.
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Also, how exactly is Bitcoin a "scam"? Because the $ equivalent goes down? Or because 3rd party exchanges are manipulating certain aspects of their numbers? Neither of these things makes Bitcoin a scam. Bitcoin offers no promises relating to $ value, nor is it connected to any central department or company. It's decentralized by design. Bitcoin never said it would be worth $1, $100, $1,000 or $1 million.
It's a decentralized digital currency, that offers insanely fast and cheap ways of sending any amount of said currency around the world in seconds to anyone, regardless of their nationality, race or religion. What's the scam exactly?
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Here to ruffle some feathers. Dollar itself is a scam. All money is based on a collective illusion (read delusion) that it has value. In that way bitcoin or anything else is the same. Read Sapiens to understand what other illusions your life is based on.
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As of now, there is not much really backing the extraordinary value of BTC/Crypto except people's beliefs and expectations The blockchain concept IS revolutionary for sure but its too early to price BTC at $10k.
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If you are not interested in a quick profit, then you should hold your Btc for at least 2-3 years.
To be on the safe side, I would cash out initial investment and a bit of extra profit and keep the rest.
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Forums, chats and news outlets are simply the wrong avenues for meaningful price prediction. Almost all answers you’ll get will be from retail investors or just people who aren't trading to begin with. How do you expect these people, who have nothing to back their claims, to give answers indicative of future price? I would suggest you need a history log of past experiences, AKA trades, to justify future predictions from anyone.
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The problem with mining is just having cheap electricity isn't favourble for mining. You need take into consideration several factors like the initial investment for hardware, BTC price, mining pool to join. You can try an online tool like cryptocompare to find how much profit you can actually make with BTC. If you are open to alts, there are many alt coins which will be more profitable
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Big businesses, like Facebook at start + Apple, Goggle, Amazon, Finantial brands, etc, adding funds into the bitcoin ecuation, will change, sooner or latter, the way we use money and the control we have over it.
I don't know much about it's history, but I can tell that is going to be hughe hype about it and betting about it will yield promising results.
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Speculations upon speculations. Its going up to 50k , its going down to $1 k. Truth is nobody knows with bitcoin. If you not good with gambling, stick to fiat currency.
However, if you decide yourself to invest in crypto, never invest more than you can afford to lose.
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