A teen is given $1K to invest into Bitcoin - what would you recommend for them?

[JavaLove]

I'd say the best way to earn a return with Bitcoin, and to ultimately grow your portfolio by a lot is altcoin trading.

That means buying a lot of, say, DOGE, (put 1.5 - 2 btc in it) and profit off of the small price margins it has. Ex. put 2 btc in it when it's worth 50 satoshi/DOGE and sell when it's worth 54 satoshi/DOGE. You'll make a fair amount of money.

This won't always guarantee money for you, and you could lose money, but it's one of the best ways to earn profit off of Bitcoin in a short amount of time and while avoiding scamming, dangerous and/or illegal ponzis, gambling and interest sites. Those ALWAYS make you LOSE your money.

Of course, you could just keep it in your wallet, not doing anything. That could make your btc grow over time too

[avikz]

Whooah!! That's rich!! ain't it!!

Firstly, I would recommend that kid for a generous donation to my bitcoin wallet. (just kidding!)

Anyway, for him, it is advisable to invest in some good and reputed cloud mining companies and start mining with them. It is the best way to grow the bitcoin.

Next, i will advise him to start using p2p loans website like, btcjam or btcpop. I have personally used them and invested in few loans. They are giving me good return.

the kid must avoid ponzi and get rich quick schemes and his money will be safer.

[SFR10]

Two things if that was me:

1. Buy BTCitcoin and hold to see, BTCitcoin magic after the halving.
2. Invest it in mining rigs. Right now, price of S7 is getting lower and lower and with block halving in the corner, it will go even lower for sure plus surely there will be newer and much more efficient mining rigs popping out afterwards so those would be a good choice as well.

[philipma1957]

He should buy coins.

Around 600$ in BTC and 400$ in PPC

Then hold the two of them .

If either one reaches 1000$ in value sell it.  Keep the other for at least three more years after that sale.

[pooya87]

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

$1000 is not that much money that changes you life so since you are talking about a young teenager whom i suppose is not in need of the money right away i would suggest investing it all in bitcoin by buying it (he can buy 2.415BTC today).

and then is suggest him/her to put 2BTC in cold storage for now and invest 0.4 in trading altcoins but start with small amounts and learn how to do it in order to learn the tricks and learn how to make profit and in time (s)he can increase the investment.

[Hirose UK]

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin.
Without encouraging him/her to invest in risky strategies, what are some safe methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

Others may come along with more helpful information,
but there are basically two types of investments with bitcoin, IMO:

1) Risk Investments (lending, ponzis, gambling, altcoin trading, btc trading, chinese online wallets give interest (may be scams IDK) etc)
2) Holding Investments (just hold for a decade or two and profit)

If there were truly safe methods of actually growing your btc, I want to know as well.

I like the answer , but i think she or he can go with buying any full member account and start earning through signature campaign. this is also one way of earning without risk

it still has risk if the account buyer doesn't have idea about bitcoin to post in the forum, the full member account will be useless and the worst thing is it has possibility to be banned. so the account won't make him earn bitcoin but lose bitcoin.

[delliaerd]

In my opinion, that teenager must have any knowledge before he/she invest his/her money for anything. He/she should learn about invest or trading etc. And decide where he/she invest that money. In this era modern, learning something in internet is so easy to access, including teenager they can visit google then enter the keywords and they can get information about invest bitcoin easily.

[sandro.jr]

1.Keep it for 2 years and wait for it to grow

or


Buy a decent website, that can make $$$ in auto-pilot mode. After 2 years, sell that site for 5X and make more profit 

[iCrypt]

He could upload it on bitfinex and use the free MarginBot to lend the USD out to traders. He would receive around 20% a year. At least it was that way some months ago.

The risk would be that bitfinex is an exchange and exchanges can go down.

Investments are always risky. You should think of them the way that you might get 100% in a year on top of your investment but when you start you lose 100% and the question is open if you will get your investment back at all.

That is a tremendous return rate, is this still occurring? I don't generally trust exchanges with my coins but with a return like that and knowing that finex has so far proven reliable, I might give it a go.

[vinaha]

For a teen, the best way is to buy a good mining rig and start mining. It will take a few months to pay for itself, however you will learn far more about Bitcoin by mining than by any other way.

If you buy Bitcoin they will just sit there, then you will spend them. Game over. If you mine, it will be for life.

[iCrypt]

For a teen, the best way is to buy a good mining rig and start mining. It will take a few months to pay for itself, however you will learn far more about Bitcoin by mining than by any other way.

If you buy Bitcoin they will just sit there, then you will spend them. Game over. If you mine, it will be for life.

I'm sure mommy wouldn't want to foot the bill after giving her teen that much money. The money and time spent mining and reselling the obsolete equipment afterwards is just not worth it.

[delliaerd]

1.Keep it for 2 years and wait for it to grow

or


Buy a decent website, that can make $$$ in auto-pilot mode. After 2 years, sell that site for 5X and make more profit 

2 years ? Too long time for wait bitcoin price increases, isn't it ?
Moreover how if the result after 2 years you have wait not reach as you were expect . Better don't wait too long and soon move forward to make a business in bitcoin.

[BitMaxz]

As of now i never see any website or service are legit to invest 1k usd But you can try to lend it or give a loan in btcjam or here in our forum.. so that you can make a profit with your money.. or better to buy bitcoin and hold it for a long time and wait for the price increase..
This the only way i think its not too risky. unless you start a business online like faucet..

[SuperCoinGuy]

I can't think of any safe, less risky investments other than letting it sit in a wallet somewhere waiting for the price to increase. Being a teen I don't think he will have the experience or the knowledge to trade efficiently.

[kyrios_]

Whooah!! That's rich!! ain't it!!

Firstly, I would recommend that kid for a generous donation to my bitcoin wallet. (just kidding!)

Anyway, for him, it is advisable to invest in some good and reputed cloud mining companies and start mining with them. It is the best way to grow the bitcoin.

Next, i will advise him to start using p2p loans website like, btcjam or btcpop. I have personally used them and invested in few loans. They are giving me good return.

the kid must avoid ponzi and get rich quick schemes and his money will be safer.

Cloudmining .... Eh not advisable for someone who doesn't know what they are doing. Even if it is not a scam, chances of ROI really really rare

[Kakmakr]

The first answer to the OP's post, gave the best advice by stipulating the different options and in what risk category they fall. A wise person will chose from each risk category to spread the risk over different investments. I for example hoard the majority of my bitcoins in cold storage to take advantage of the low risk and also possible profits, when the price skyrocket in the future. I also invest a small portion of the rest in medium to high risk opportunities to get higher returns on my investment now. Just DO NOT take only one option and think it will be the safest option. Good luck.   

[NorrisK]

I would just buy bitcoin and hold. The returns on this alone are likely going to be much higher than any savings account or investment fund you can enter in.

Stay away from altcoins investments or any type of risky business (except maybe litecoin, it can only go up from here imo), as they are in kind of a bubble at the moment due to the ether pump. The risk to get burned and lose a good chunk (up to 90% would not be unheard of) is too big for playing with some cash for your future.

[TastyChillySauce00]

you just need to invest right? so, buy bitcoin at the lowes point and then sell the bitcoin at the higher point of the month, it's simple and less risk compared to trading or any other effort to grew up your bitcoin

[DimensionZ]

That teen should never get involved with giving out loans on sites like Btcjam or here he is only asking for trouble and want to get scammed with fake sob stories. The ideal thing would be to shove that 1k$ worth of Bitcoins into a paper wallet and forget about them for a decade or 2. Best investment ever.

[1Referee]

I would advice that person to do some proper research first and then to securely store the coins offline. Trading and other stuff is not good for people that don't know much about how markets work, etc. HOLD!