What are my risks mass investing in HODLcoins? $20,000

[joerazor]

I have been reading a lot about HODL and I love the interest they provide for early miners.

I was thinking of buying $20,000 worth of HODL coins and leaving them a year... With interest, assuming the rate of the hodlcoin stays the same, they will be worth $600,000+

Am I missing something here? What are my risks here? Could this currency go obsolete by next year and be worth nothing?

I would appreciate some professional advice as my speculation seems too good to be true.. I really need to know what risks I will face.. thx a million

[adaseb]

Don't do it. Those coins usually end up being useless in a few weeks or months.

If you really want to invest in coins buy some BTC and sell after the halving if price goes up or buy some ETH.

Stay away from any other scam coins.

[joerazor]

How high is the risk?? As in 10% or 90%? Just want to get my facts straight.. thx for ur help

[simon66]

Almost certain loss..

Look at similarly structured coins on trex and examine their price history..

[Unacceptable]

Well,whatever you do,DO NOT KEEP COINS ON AN EXCHANGE OR ONLINE WALLET.These places have been known to vanish & take your coins with them with NO recourse to recover them

Get the wallet for the coin your buying & put it on a PC or laptop that does NOT surf the web (can't get virus's if you don't open a browser).

Be sure to backup the wallet & save dat/keystone/etc files on a flash drive & in several other secure places (the more the better),flash drives have gone bad on me for whatever reason.

Good luck!!! 

[Liquid71]

How high is the risk?? As in 10% or 90%? Just want to get my facts straight.. thx for ur help

Risk is closer to 100%

That said risking 100% to make 30x (using your $600,000 profit estimate) is a good risk/reward but don't bet/risk that much unless you can afford to lose 100%

If you are new to the crypto world I would stick to established coins that have been around for awhile, you'll see a lot of coins like this come and go so you'll be able to better assess the risk involved.

As for Hodl specifically the coins market cap is only $53,000 https://coinmarketcap.com/currencies/hodlcoin/  An investment of $20k would drive the price for each con through the roof, and as soon as you were done buying the price would collapse again. It would take you awhile to accumulate $20k worth of coins at the current market price.

[Tmdz]

Remember a coin is worthless if you can't trade it and i mean trade a decent amount.

[Ayers]

Almost certain loss..

Look at similarly structured coins on trex and examine their price history..

similar, afaik there is nothign similar to HODL at the moment, so you're comparing orange to apple, it can be worth much mor ein the future, yes the risk is high, but the reward is higher too, also if none is investing it would not  be worth much, so we need investors

[Kalder]

Don't do it. Those coins usually end up being useless in a few weeks or months.

If you really want to invest in coins buy some BTC and sell after the halving if price goes up or buy some ETH.

Stay away from any other scam coins.

If the HoDl is still there 6 months after the start of the coin, then it might be investible then. Do not do that now.