Building a cryto portfolio on a low budget?

[Mintycash]

Hi all,

New member here and just starting on cryptocoins.

I was wondering if you could recommend a sensible strategy for building up a portfolio of cryptocoins on a low budget. I am doing this as a hobby and I am not prepared to do big investments yet (not that I am ready anyway, I am still learning).

At the moment, I only have 3X 1060 nvidia card mining and I spend the eth earned on ICOs in the hope to get a decent return from at least one or two of them.

If this happens, I plan to sell 50% of the ICO coin and reinvest on Bitcoin, ethereum or other ICOs.

Is this a good strategy or do you recommend something different?

Thanks!

[Johnnywelsh]

I see you listed graphics card as an investment, to be honest unless your living where electricity is cheap your not going to make any profit mining popular coins. There's loads of different calculators out there to estimate profit/loss vs electricity costs.

Only way you'll make it big by mining these days is if you get in on a less popular coin that the big mining farms are not taking part in. Issue with that is, you could then end up with a worthless coin if it never goes anywhere.

Bounty campaigns are a decent way to get involved if you have little starting capital. Do your research, choose a campaign you believe in and then represent them and take part in the community.

[VackFromOhm]

I see you listed graphics card as an investment, to be honest unless your living where electricity is cheap your not going to make any profit mining popular coins. There's loads of different calculators out there to estimate profit/loss vs electricity costs.

Only way you'll make it big by mining these days is if you get in on a less popular coin that the big mining farms are not taking part in. Issue with that is, you could then end up with a worthless coin if it never goes anywhere.

Bounty campaigns are a decent way to get involved if you have little starting capital. Do your research, choose a campaign you believe in and then represent them and take part in the community.

I really like this last piece of advice here - With such a small starting investment, most of your income is going to come from getting in early with coins and putting in time to get coins. (Airdrops, signature campaigns, bounties). A lot of the bounties can net you a good amount if they have a certain amount of work involved (making videos, etc.). I wouldn't rely on that small starting investment making you your money, it's going to be using your time efficiently and putting in the work that's going to get you places.

[steve0nz]

You could also buy into a few sub 1M coins like TRI or Trade...

[shoreno]

Hi all,

New member here and just starting on cryptocoins.

I was wondering if you could recommend a sensible strategy for building up a portfolio of cryptocoins on a low budget. I am doing this as a hobby and I am not prepared to do big investments yet (not that I am ready anyway, I am still learning).

At the moment, I only have 3X 1060 nvidia card mining and I spend the eth earned on ICOs in the hope to get a decent return from at least one or two of them.

If this happens, I plan to sell 50% of the ICO coin and reinvest on Bitcoin, ethereum or other ICOs.

Is this a good strategy or do you recommend something different?

Thanks!

Thats good if your already invested your money on some mining cards, but i wont recomend that investing your money on ico's because  most of them now are scams so i think its better to invest your eth somwhere like in trading or investing a new coin to add in to your portfolio by doing that you can avoid the risk of being scammed and have a high chance that you can earn more profit.

[wolfracer]

Unless your electricity costs are extremely low you are going to generate profits by mining with those cards, if it's the case seems to be a good strategy, but it will take a long time, it was better to invest directly the money from the cards in ICOs or simply buy a better equipment with better ROI.

[Mintycash]

Thanks for your good advice all of you!

My electricity is not cheap, I am afraid. But still the profit is there if a bit tight. For the 5-6 dollars that it costs me weekly (1060s are very efficient) it keeps this new hobby going.

I will have a look in to those less popular coins, it makes sense. What parameter should I look when choosing them? Difficulty, price, new coins vs old coins? What is 1M?
It is handy though to mine eth as I can spend it directly without going through an exchange but the time to mine eth is coming to an end so I need to move on I guess.

Getting involved with bounties and in the community seems like a good idea thanks! This is one of the reasons I finally registered in this forum but still I'm too new to take part in bounties.


This:

Bounty campaigns are a decent way to get involved if you have little starting capital. Do your research, choose a campaign you believe in and then represent them and take part in the community.

And this:

I really like this last piece of advice here - With such a small starting investment, most of your income is going to come from getting in early with coins and putting in time to get coins. (Airdrops, signature campaigns, bounties). A lot of the bounties can net you a good amount if they have a certain amount of work involved (making videos, etc.). I wouldn't rely on that small starting investment making you your money, it's going to be using your time efficiently and putting in the work that's going to get you places.

Thank you all for your help!

[Mintycash]

Unless your electricity costs are extremely low you are going to generate profits by mining with those cards, if it's the case seems to be a good strategy, but it will take a long time, it was better to invest directly the money from the cards in ICOs or simply buy a better equipment with better ROI.

I wont be getting any more cards right, but better equipment, I guess you mean ASICs, is very expensive. On the other side ICOs are fun and don't require big investments to start with!

Thanks Shoreno for the advice, I agree we should be extra careful. At the same time, most new coins will start as ICOs nowadays? So if you can avoid the initial scams you end up with a good bunch of coins. I have already invested small amounts in a bunch of ICOs so it will be interesting to see what happens in the next few months.

[yillusion]

you can achieve this potfolio, but i think you must be patience, and may be it will be a very long term and need a great courage, maybe high risk