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Author Topic: Student without much $$$  (Read 1785 times)
Mr.cryptos
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August 31, 2017, 10:23:46 AM
 #1

Hey guys
So currently iv started playing with crypto about a month ago, and can afford to put around $100 a week into it. Iv made some investments into OMG, NEO, PAY, IOTA, ETC and XRP.

My question is, should i still be working my way to gaining 1 BTC first before anything? Price is so high right now and i have no idea how its possible when i can invest so little, hence why im just playing with the alt coins for now.

Any tips on what i should change? or what i should keep doing??

Thanks in advance

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banake
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August 31, 2017, 10:47:27 AM
 #2

Keep going bro!
Crypto is best thing you should invest now
Dont care about amount. You should care how much profit you gain!

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August 31, 2017, 11:10:59 AM
 #3

You actually chose the right path on accumulating your first btc. At $100 a week, you would need 45 weeks before you can earn the whole bitcoin, but by trading alts, it would significantly be reduced since alts are also moving pretty well alongside bitcoin. Just keep on flipping alts and you'll get your 1 btc sooner as I myself am flipping alts every now and then to produce some profits, too.

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August 31, 2017, 11:22:32 AM
 #4

In my opinion, if you're in it for the profits, just go with what gives you bigger profit percentage increase. If you're doing fine with the alts, then why change your strategy? What I would suggest is to probably do it 50-50 though. Every week, go $50 on bitcoin and the another $50 on some alts that you believe has value in the future. Why invest straight in to BTC if you can reach the 1 BTC goal faster by investing in alts?

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August 31, 2017, 11:57:40 AM
 #5

Hey guys
So currently iv started playing with crypto about a month ago, and can afford to put around $100 a week into it. Iv
Thats not much, i mean in 10-15 years it will still make huge profit in bitcoin i assume, but it won't change ur life vastly.

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August 31, 2017, 12:00:45 PM
 #6

Why invest straight in to BTC if you can reach the 1 BTC goal faster by investing in alts?
So the main goal is for the coins to be a massive BTC grab, but of course no one here sees a problem with that.
My question is, should i still be working my way to gaining 1 BTC first before anything?
1 BTC is a completely arbitrary amount.  You should invest as much as is appropriate for you rather than working towards arbitrary targets.
Any tips on what i should change?
It's quite unusual for a person to continue trading shitloads of alts, most of which don't actually achieve a lot, without losing money in the end.

You can delude yourself into thinking you're a good trader just because the price of basically everything is going up at the same time, but if you really don't have much money to lose, you'll be pretty badly hurt in the next bear market.  Just stay safe.
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August 31, 2017, 01:35:08 PM
 #7

Hey guys
So currently iv started playing with crypto about a month ago, and can afford to put around $100 a week into it. Iv made some investments into OMG, NEO, PAY, IOTA, ETC and XRP.

My question is, should i still be working my way to gaining 1 BTC first before anything? Price is so high right now and i have no idea how its possible when i can invest so little, hence why im just playing with the alt coins for now.

Any tips on what i should change? or what i should keep doing??

Thanks in advance

I think your strategy should work fine. Diversifying is a good idea because we don't know which coins will perform the best going forward.

Also, investing $100 a week is good if you can do it. It's still early enough to make some profits down the road. In 10 years your investment should be worth a lot of money.
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August 31, 2017, 01:44:30 PM
 #8

Iranus makes some good points.

Altcoins definitely can have a bigger upswing percentage wise - but the downside can be just as bad.

I like the 50/50 option that a poster mentioned above - it gives you a bit of a hedge.

Also, you'd be surprised how well you can build up your cache of altcoins for free just by becoming a contributing member of this board. Signature campaigns and airdrops are a great way to get in early and for free.

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August 31, 2017, 03:00:15 PM
 #9

You should consider getting knowledge about blockchain and doing some work for some altcoin fundation Smiley If your work is high quality, you will get pay.

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August 31, 2017, 03:04:54 PM
 #10

Hey guys
So currently iv started playing with crypto about a month ago, and can afford to put around $100 a week into it. Iv made some investments into OMG, NEO, PAY, IOTA, ETC and XRP.

My question is, should i still be working my way to gaining 1 BTC first before anything? Price is so high right now and i have no idea how its possible when i can invest so little, hence why im just playing with the alt coins for now.

Any tips on what i should change? or what i should keep doing??

Thanks in advance

Hey great job investing, your way ahead of the game than most.

Don't think in terms of a single bitcoin as that goal may be hard to obtain with $100 a week. I would recommend keep dollar cost averaging and put in more if you can during the dips. The levels will slowly accumulate and you'll be able to gain way more purchasing power than you would have by just staying in dollars.
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August 31, 2017, 03:26:51 PM
 #11

Kudos to you for taking the initiative and going about it intelligently!  Good luck!
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August 31, 2017, 04:57:12 PM
 #12

I’m going to take a different path then everyone else on this one.  I will assume, since you stated “student without much $$$”  you may find a better use for you financial resources then these new digital currencies at this time in your life.   

When I was a student, I had no funds for anything then other the needs of a college student.  I have now been an active investor for 40 years since my college years as an EE/computer science student.   I too am new to bitcoin but have years of experience with computer science, TCP/IP, databases, encryption.   Those who don’t have my background have much much more work to do just to get to my starting point.   

I see many benefits to bitcoin and I am also seeing things which may be roadblocks.  Is bitcoin an investment at it’s current point in it’s evolution,   I have to wonder about that one. 

People are going to jump all over me for this comment but, here goes.   I don’t see bitcoin type entities as being investments in the classical sense AT THIS TIME.   One of the first things a young adult needs to learn is the difference between investing and speculating.   I don’t consider trading currencies investing, it’s speculating.  Not many have the discipline to do well in currency speculation and at this time bitcoin is a long way from being a currency in daily use by the masses.

Best of luck, thinking it out carefully and get many diverse opinions.
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August 31, 2017, 05:30:29 PM
 #13

I'm also a college student with a limited budget. I originally started with a $1,000 that I stuffed into BTC a couple months ago which luckily mooned up to 3g. I try to focus on the coins that
promise privacy and anonymity like Verge and Safex.
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August 31, 2017, 06:40:07 PM
 #14

$100 weekly is a good investment in Crypto-Currency.

I personally would put all in BTC, doesn't matter the price, it will still increase even more on long term. If you think it's too expensive now (and it is) you can wait some weeks or few months and see if the price drops a bit with the correction, then you can buy it cheaper. But it's risky as we don't really know if the price will really drop, it can happen or not.

Anyway, Bitcoin is the most trusted currency and I think an investment on it worth more than investing in any other AltCoin like those you mentioned.

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August 31, 2017, 06:43:32 PM
 #15

Hey guys
So currently iv started playing with crypto about a month ago, and can afford to put around $100 a week into it. Iv made some investments into OMG, NEO, PAY, IOTA, ETC and XRP.

My question is, should i still be working my way to gaining 1 BTC first before anything? Price is so high right now and i have no idea how its possible when i can invest so little, hence why im just playing with the alt coins for now.

Any tips on what i should change? or what i should keep doing??

Thanks in advance

Since you have worries then stick with your current strategy and play with that for now.

You don't need to engage in bitcoin trading fow now because while doing altcoin trading, you are also benefited while bitcoin price is increasing since after all, the final judgement of your profit in altcoin trades will be transferred to bitcoin in which you will used that amount to start circulating again your hold alts.

If you think you are ready and now have guts to enter bitcoin trading, then it's your decide since you know your capacity.
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August 31, 2017, 07:41:14 PM
 #16

Find an online job OP, you can try working for BTC on the forum, doing some translations, maybe joining a sig campaign when you level up a bit. Take part in giveaways and promotions, there's a lot of money floating around in the forum, you just need to be in the right place (thread) at the right time. It shouldn't take you more than a year to get your first BTC if you keep saving up.

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August 31, 2017, 07:55:19 PM
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You are doing perfect!! Crypto investments are the most lucrative ones of our era. Trading altcoins is my incredibly profitable hobby!! Smiley
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August 31, 2017, 08:37:21 PM
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A $100 every week is a reasonable amount to invest in altcoins as trading, because trading is the only way that can take you straight to your destination of earning your first bitcoin. The bigger your capital is in trading, the less time it will take. Just be careful about any coin you are trading, coz they sometimes crash really bad.
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August 31, 2017, 09:18:08 PM
 #19

I am not condoning you should be doing this to begin with, seeing as you are very new, but there are only a few ways you can quickly get from a few hundred dollars to 1btc, all of which are basically gambling and risky. If you choose to try this, don't whine if you lose everything.

You could easily use a bitcoin futures exchange and margin anywhere from 3x to 100x depending where you go. 100x will take your $100, turn it into $10,000 on the exchange, and trade it like normal fiat/btc. Whatever profits you make you keep, but if you go negative past $100, you lose it all permanently. Another way is to straight up gamble the bitcoin on a bitcoin gambling website.

DO NOT USE THESE METHODS IF YOU ARE NOT OK WITH LOSING THAT MONEY!!!

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August 31, 2017, 11:27:51 PM
 #20

Hey guys
So currently iv started playing with crypto about a month ago, and can afford to put around $100 a week into it. Iv made some investments into OMG, NEO, PAY, IOTA, ETC and XRP.

My question is, should i still be working my way to gaining 1 BTC first before anything? Price is so high right now and i have no idea how its possible when i can invest so little, hence why im just playing with the alt coins for now.

Any tips on what i should change? or what i should keep doing??

Thanks in advance

As many have already commented I'd suggest going 50/50, see bitcoin as a secure long term investment and alt coins as risky short investments.
You need to stablish exits; for example If given alt-coin has given me more than 110% profitability, then I sell as soon as the price drops (exit on 100% profitability).

Of course I've regret on selling several coins that went up 600-700% but is a secure way of duplicating my money.
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