Beginner: Where to move forward

[Beastley5]

Hello all,

I am a pretty young investor who has just found his way to the cryptocurrency market and was wondering the best ways forward. I don't have a relatively high bankroll(only $100), but I am willing to wait for my holdings to grow. I'm not really looking for a get rich quick but just a solid investment that would yield more that 5%. I was wondering what your guys opinions would be for me to move forward. I have around $20 in bitcoin which i bought at $2100 a few weeks ago. If you were in my situation where time was not a big factor what currencies would you invest in? I have heard from friends and colleagues that Litecoin is on the way up but they didn't have any reasoning just a gut feeling.

Thanks,
Beastley5

[BitcoinHodler]

you are already doing the first step correctly. to start small.
also you did the second step correct or accidentally and that is buying in a dip.

as you can see from my name i am a hodler. i am hodling bitcoin and will continue to do so because it is a very profitable investment and has a good future. at least it has a pretty good chance of growing.

to grow your money meaning to turn that $100 to $200 and then $1000 and so on. you need to have patience. don't fall for the hype. make good decisions and that means each trade you make you have to have a good reason for making it not just based on your emotions. try to find out what makes the prices go up and what makes them come down.

after you buy an altcoin then start thinking about when you should sell it. if your decision is after 5% then make sure you do that when it is reached. if is 100% then make sure to do that.
also having a stop loss is a very good feature that can save your ass.

and finally the same as second step, buy in the dip and never buy on top. specially in an altcoin that is in a bubble.

[ktabb]

Hello all,

I am a pretty young investor who has just found his way to the cryptocurrency market and was wondering the best ways forward. I don't have a relatively high bankroll(only $100), but I am willing to wait for my holdings to grow. I'm not really looking for a get rich quick but just a solid investment that would yield more that 5%. I was wondering what your guys opinions would be for me to move forward. I have around $20 in bitcoin which i bought at $2100 a few weeks ago. If you were in my situation where time was not a big factor what currencies would you invest in? I have heard from friends and colleagues that Litecoin is on the way up but they didn't have any reasoning just a gut feeling.

Thanks,
Beastley5

To be honest, if you are just looking for something more than 5% per year then you shouldn't be in crypto... crypto is very risky. You can get a much more reliable return over 5% with big dividend stocks or real estate investment trusts (REITs). Mutual funds/index funds are a good option too. With crypto, you might double your money or cut it in half.

Also crypto is very high right now and slated to start moving downward. All coins are likely to decline soon as Bitcoin and the other leaders are extremely overvalued.

[dillpicklechips]

you are already doing the first step correctly. to start small.
also you did the second step correct or accidentally and that is buying in a dip.

as you can see from my name i am a hodler. i am hodling bitcoin and will continue to do so because it is a very profitable investment and has a good future. at least it has a pretty good chance of growing.

to grow your money meaning to turn that $100 to $200 and then $1000 and so on. you need to have patience. don't fall for the hype. make good decisions and that means each trade you make you have to have a good reason for making it not just based on your emotions. try to find out what makes the prices go up and what makes them come down.

after you buy an altcoin then start thinking about when you should sell it. if your decision is after 5% then make sure you do that when it is reached. if is 100% then make sure to do that.
also having a stop loss is a very good feature that can save your ass.

and finally the same as second step, buy in the dip and never buy on top. specially in an altcoin that is in a bubble.

In a much simpler words, buy low, sell high. Also trading is not an intelligent guessing like some may say since you can actually predict whether it would go high or down low though not 100% together with the right knowledge and information then you can do it.

[2and1]

You are lucky you were able to buy at $2100. Now it's around $2700. You can hold for now and wait for btc to grow more before you can sell or sell now and buy cheaper but promising altcoins. Research and studying the trend is key

[X-ray]

you are already doing the first step correctly. to start small.
also you did the second step correct or accidentally and that is buying in a dip.

as you can see from my name i am a hodler. i am hodling bitcoin and will continue to do so because it is a very profitable investment and has a good future. at least it has a pretty good chance of growing.

to grow your money meaning to turn that $100 to $200 and then $1000 and so on. you need to have patience. don't fall for the hype. make good decisions and that means each trade you make you have to have a good reason for making it not just based on your emotions. try to find out what makes the prices go up and what makes them come down.

after you buy an altcoin then start thinking about when you should sell it. if your decision is after 5% then make sure you do that when it is reached. if is 100% then make sure to do that.
also having a stop loss is a very good feature that can save your ass.

and finally the same as second step, buy in the dip and never buy on top. specially in an altcoin that is in a bubble.

In a much simpler words, buy low, sell high. Also trading is not an intelligent guessing like some may say since you can actually predict whether it would go high or down low though not 100% together with the right knowledge and information then you can do it.

Those are saying that the crypto is 100% speculation and it will be involved the human's intelligence. With the market intelligence and the sentiment of the market, you will be able to make a prediction about the market direction with almost real accuracy. I mean almost true or near of your prediction.

[dothebeats]

To begin with, people who are trading cryptos are just mere speculators and no one really knows what direction would we be heading in the coming months. The thing in trading is that you need to gather all the information you need to know (news, current events, etc) before placing your positionin the market. After all, it is your money that you're working on and not other people's money which is why you need to work on it. Also the best advice is never believe in someone's speculations no matter how versed they are in crypto trading jargons. You have to do your own work and just get some little bits from the professionals but never take it fully.

Best of luck.

[BrewMaster]

-snip-
To be honest, if you are just looking for something more than 5% per year then you shouldn't be in crypto... crypto is very risky. You can get a much more reliable return over 5% with big dividend stocks or real estate investment trusts (REITs). Mutual funds/index funds are a good option too. With crypto, you might double your money or cut it in half.

Also crypto is very high right now and slated to start moving downward. All coins are likely to decline soon as Bitcoin and the other leaders are extremely overvalued.

OP is saying he is young, probably underage too. and he said he has $100 to invest. i don't think you can even invest such a low amount into stocks or real estate investment trusts, ... most of them will laugh at you if you bring up $100 as investment

[raven7886]

All the thing I could suggest to you is, just keep holding what ever you have in bitcoins and try to add some more into your stash. I mean to say for time being just forget about active trading but keep on engage yourself into passive trading : buy and move into cold storage and forget for some times.

In my opinion, you do not need to move into any other altcoins, just focus on earning bitcoins with different methods. Earning bitcoins = buying bitcoins and holing them = passive trading. There will be a good time will arrive for profit booking till then you will be have more time to add more bitcoins through earning.

This is not about actual trading but when you are not blessed with enough capital, this must be the right way to have bright future.

[avatar_kiyoshi]

Why not try arbitration? It's fit for you who not find quick money, plus it's low risk, you just need to monitoring your transaction and find reliable exchange.

[tigershark]

Hello all,

I am a pretty young investor who has just found his way to the cryptocurrency market and was wondering the best ways forward. I don't have a relatively high bankroll(only $100), but I am willing to wait for my holdings to grow. I'm not really looking for a get rich quick but just a solid investment that would yield more that 5%. I was wondering what your guys opinions would be for me to move forward. I have around $20 in bitcoin which i bought at $2100 a few weeks ago. If you were in my situation where time was not a big factor what currencies would you invest in? I have heard from friends and colleagues that Litecoin is on the way up but they didn't have any reasoning just a gut feeling.

Thanks,
Beastley5

If you buy and hold bitcoins, you will probably gain more than 5% per year. So the question is when to buy more or whether you should buy altcoins instead. Unfortunately there is no clear answer. I would suggest waiting for either Bitcoin or one of the major altcoins to drop more in price and then buy whatever is low.

[Bowly88]

I highly recommend if your are only a beginner you should start at joining in a signature campaign. There is the where you can gain bitcoins, and start saving it. Then after that start investing in or even trade or gamble if you want to. But for me, I will invest it because the value of it rises from time to time. And when the right time comes, You should exchange it into a real money then start a business.

[Vaskiy]

Even $20 is good enough to make a profit. These days there are lots of altcoins that are selling for very small value. You could invest on them. As you stated that waiting with patience is not an big issue. So surely you can profit big in the future. If things didn't work as expected too, it's not gonna affect you big as the investment is very small.

[Dudeperfect]

Since you don't want to take higher risk, the best way is to continue buying in smaller units with higher frequency. Bitcoin is still in the early phase so I believe there will be many opportunities to buy bitcoins at a lower level in the coming months and you can hold it for the long term. While talking about alt coins, I think ETH, LTC is promising options. However is strongly recommended to do your own research before investing any penny.

[el kaka22]

However is strongly recommended to do your own research before investing any penny.

Yes, OP may get some overview idea from here but final decisions should be taken based on own responsibility along with research and analysis.
Because I do not think there will be no need to move away from bitcoin investments as bitcoin is alone having more guarantee to get good returns compared to any other cryptocurrencies. But diversifying must be a good idea but it should be done only by own decisions.

[FrueGreads]

I still prefer to buy BTC or Ether right now. But for BTC I would recommend you to wait until the 1st of August and then see what happens to the price. Right now I think the best option is to get a few strong alt coins like Ether or LTC just in case, and hold them.

[matchi2011]

I still prefer to buy BTC or Ether right now. But for BTC I would recommend you to wait until the 1st of August and then see what happens to the price. Right now I think the best option is to get a few strong alt coins like Ether or LTC just in case, and hold them.

I agree especially if you're just starting up. And while you're holding to these coins, try to observe also the movement of the other smaller altcoins. If you have a few extra satoshis then you can practice trading with these coins for a small amount just so you get all the basics and experience

[Adbitco]

Invest only as much as you can afford to lose that's more true for cryptocurrency. The volatility in the prices of cryptocurrencies may cause you to gain huge or lose all that you may have invested. There's not any other business where there are so many uncertainties as in cryptocurrencies so invest wisely.

[sweetbet]

Whichever coin that you choose to buy and sell, always make sure that you buy when the coin is at the rock bottom price, and never sell unless you have made a profit. Don't let the urge to panic sell take over. Have patience and wait for the price to go back up, and over your purchasing price before you sell. You might have to wait an hour, a day or a week, but do wait. Even if the price dips after you buy it, you haven't lost anything unless you panic and sell it.

[SaShiRaJaVu]

I would suggest you to invest your amount in an upcoming good ICO and i am sure you will be happy by the result because all of the crowd funds i invested gave me a good healthy profit throughout the years ,some of the coins you might wait for a longer time to get the desired profit,but most of the coins will give you instant profit.