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

[hasiramasenju]

honestly i do not trust anymore for investment sites or cloud mining sites because most of them will be scam and you will lost all your money before you ROI and my advice is buy bitcoin and hold till next few months because some people believe the prices will rise up soon

[Kprawn]

If I gave my teens $1k to invest in Bitcoin, they would most probably create an account on Purse and spend it all in one month. Most teenagers do not think about the future and investment

opportunities... they concentrate on homework and boyfriends and girlfriends. If you want to teach your kids about investments, start them our smaller... much smaller, and work your way up to

bigger investments, once they grasp the responsibility of that much money. Remember, we need to be young, while we are young... there are still time to worry about these things when you older.

Just lay the basic foundation and strengthen it, as they grow bigger and more responsible.  

[sallymeeh27]

That would probably a teen will have loads of idea but most of them will not inquire to save a lot. Better advice him, educate what bitcoin can make this money higher.. I will tell him to learn the trading for this is a lot of money and then save some for the future but most of all buy a high rank and do the signature campaign somehow even if he will spend some money he can still earn some and of course gambling play the game and try some luck but not too much, in this instance either he can earn, double his money..

[Betwrong]

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?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

[Yakamoto]

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?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

But 10 years is a long time for a teenager to wait, it would be so hard for them to have the patience to make that money. And it's such a volatile currency, what if he loses it all! /s

Truthfully I'd say buy 2BTC and then do whatever the hell with the rest of it. It'll be insurance money for a month or two.

[tn211]

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?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

But 10 years is a long time for a teenager to wait, it would be so hard for them to have the patience to make that money. And it's such a volatile currency, what if he loses it all! /s

Truthfully I'd say buy 2BTC and then do whatever the hell with the rest of it. It'll be insurance money for a month or two.

No I do not think this a very good idea, I think its better to just let him invest and experience the bitcoin.
Also the fact is that he should invest in them on this time, because I think he can even make profit on a short term so he doesn't need to wait for a long time due to the halving that is coming.

[teddy5145]

Damn, i thought this is a real news when i first saw the topic
Well Bitcoin is already risky in the first place because the price can jump around at any minute
Especially with the block size debate that can affect the price and investors
If i have $1k i will probably start my own business, not a big one, I will start with smaller ones to make sure that this business is profitable and have a demand to it
After established and making sure it's profitable then i will use the rest of the money to turn it into a big business

If I gave my teens $1k to invest in Bitcoin, they would most probably create an account on Purse and spend it all in one month. Most teenagers do not think about the future and investment

opportunities... they concentrate on homework and boyfriends and girlfriends. If you want to teach your kids about investments, start them our smaller... much smaller, and work your way up to

bigger investments, once they grasp the responsibility of that much money. Remember, we need to be young, while we are young... there are still time to worry about these things when you older.

Just lay the basic foundation and strengthen it, as they grow bigger and more responsible. 

I'm a teenager and i do think about my future

[calkob]

If i was him i would by bitcoin and stick them on to a paper wallet, and forget about them for 10 years.  Bitcoin is the investment.....

[Aamir1]

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?

I would recommend the teen to buy Bitcoin with $1K, but I wouldn't recommend to invest it anywere. It is too risky, especially for a teen. Just hold your coins and you'll have more than $20k in ten years.

I would also suggest him to buy bitcoins with that amount but i won't suggest him to hold them for too long as we can't really know if what will happen in next years, he should just hold them for a while lets say until halving and after that when price goes high he should sell them and get the profit, after that if he wishes to continue then he can continue the process with the base amount and have the profit in his pocket.

[DARKCHANGE]

Would recommend him to use safe exchanges like Kraken, at least not COINBASE. This shitty company closes down accounts as they like without any reason.

HYIP, Lending might be the most riskiest, but fastest ways to grow the coins.

[Red-Apple]

Would recommend him to use safe exchanges like Kraken, at least not COINBASE. This shitty company closes down accounts as they like without any reason.

HYIP, Lending might be the most riskiest, but fastest ways to grow the coins.

in my opinion you should not even mention things like HYIPs to a newbie because for someone who just started with bitcoin it would suck if he loses money. it will most probably cause him to stay away from bitcoin because of a negative experience with an scam.

[btcltccoins]

Well keeping them in a wallet and wait for the price increase is the safest way.
On the other hand lending, gambling, trading, could result in a  scam.
So be careful.

[justdimin]

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

You are absolutely right but only do simple  thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

[Kprawn]

Damn, i thought this is a real news when i first saw the topic
Well Bitcoin is already risky in the first place because the price can jump around at any minute
Especially with the block size debate that can affect the price and investors
If i have $1k i will probably start my own business, not a big one, I will start with smaller ones to make sure that this business is profitable and have a demand to it
After established and making sure it's profitable then i will use the rest of the money to turn it into a big business

If I gave my teens $1k to invest in Bitcoin, they would most probably create an account on Purse and spend it all in one month. Most teenagers do not think about the future and investment

opportunities... they concentrate on homework and boyfriends and girlfriends. If you want to teach your kids about investments, start them our smaller... much smaller, and work your way up to

bigger investments, once they grasp the responsibility of that much money. Remember, we need to be young, while we are young... there are still time to worry about these things when you older.

Just lay the basic foundation and strengthen it, as they grow bigger and more responsible.  

I'm a teenager and i do think about my future

Thus the reason for me putting the most in bold, to exclude the exception on the rule. I am not saying all teenagers are reckless and without a vision for the future. They just have other goals and

interests, when they are younger. Back in my day, we did not have half of the distractions most kids are faced with today. I am just saying, you should make the most of your teen years, and leave

the grownup things for later. Time fly by, and before you know it, you are in a 9/5 job and a family with huge responsibility.    

[ausbit]

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

You are absolutely right but only do simple  thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

I think  a teen will need to learn many things related to bitcoins before investing into  it, as no body is sure when to buy and when to sell as we don't don't what is the right time to do that.

[delliaerd]

honestly i do not trust anymore for investment sites or cloud mining sites because most of them will be scam and you will lost all your money before you ROI and my advice is buy bitcoin and hold till next few months because some people believe the prices will rise up soon

But it will take a long time enough to earn many profit. How if that teen starting to try trading and learn more about that.

[el kaka22]

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

You are absolutely right but only do simple  thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

Yes, it is a good business nowadays with bitcoin, anyone who want to increase his/her bitcoin faster with less efforts he/she have to start trading with it. So learn trading and invest in there to earn more.

[teddy5145]

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

You are absolutely right but only do simple  thing like that as you say ? how if while she/he want to do that as soon as she/he can but at the same time bitcoin price at the highest rate ? Should she/he wait the price down until lower price ? And Only stuck at that condition without do anything ? I think she/he must find many plans as reserve.

But I will recommend buying and selling bitcoins to him/her only if he/she has good knowledge about bitcoin and trading with it, otherwise he/she will not able to run in that track.

I think  a teen will need to learn many things related to bitcoins before investing into  it, as no body is sure when to buy and when to sell as we don't don't what is the right time to do that.

And to learn that thing they will need lots of experience and there's no other way to earn that besides making that investment and learn a thing or two from them
I Learned a lot from trading at Yobit  (Though i didn't put tons of money into it)
I still have many things to learn about trading but I don't mind learning more and more about it
I wish i can make a profit for once on trading, too bad i never get any of it

[SebastianJu]

I really think that parent should go at it slowly. Give 100 USD in bitcoin, then 200 USD... and see what the teenager is doing with it. If he spends it right away... well the parent can decide to stop payments. If he tries to invest then see if he chose wisely. If he trades and lose it all then he only lost 10% of the 1000 USD.

[talkbitcoin]

I really think that parent should go at it slowly. Give 100 USD in bitcoin, then 200 USD... and see what the teenager is doing with it. If he spends it right away... well the parent can decide to stop payments. If he tries to invest then see if he chose wisely. If he trades and lose it all then he only lost 10% of the 1000 USD.

it depends on the person and the age you are calling "teen".

for example i am comparing it with myself back when i "came of age" ~18 if i was given $1000 i would never waste it. i knew how to invest it and make more out of it by then.
p.s i already had around $1000 in my bank account by then