I want to invest 1000 USD into crypto

[mockaj]

Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.

[1714033599]

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[1714033599]

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[h0lybyte]

Since a fork happened in bitcoin,it is already reached apex point of its value.Though it is not indicating the consequence of imagined profit investing in it for now.
At the moment my consultation is to invest in ethereum.This coin is growing next to bitcoin and might be the best for long-term.
Do not go for cloud mining projects,in this way you will loose your whole budget.

[okissabam]

I think its really expensive to start mining and all because of course you would also pay you electric bills for that and most of them would say it would really cost a lot of money. Why won't you do trading instead, it is risky but less risky if you go for long term trading.

[pitham1]

Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.

Buy bitcoins, put them in cold storage and forget about it. Mining rigs are expensive and there are running costs (primarily electricity) as well. Plus it is no longer a profitable model for small players.

[pooya87]

Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ?

buy mining equipment: not a bad idea if you have a cheap electricity, have some space in your home to place the rig and do proper cooling and also if you know how to maximize your profit by mining the better coins and dump them on good time.

cloudmining: a big ass NO.

buying coins directly: this is a good option too. it doesn't have to be a separate one either. you can mine and also invest. buy bitcoin first and always have some of it held somewhere safe. specially now that there is a dip it makes a good time to invest for long term. and also start trading altcoins to know them better, it helps with choosing what to mine too.

What cryptocurrency might be the best for long-term profit ?

long term? only bitcoin.

I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.

start small, you can only get the answers you want if you experience the market. start trading and learn how it really works. it is a good market to make a decent profit.

[Dudeperfect]

Sorry to say but cloud mining is no more profitable for the ordinary investor. In these days cloud mining sites are either end up as a scam or in the loss making companies. Thus I would strongly advise you, avoid it.

You can directly invest your $1,000 through diversified investment method and go with Bitcoin as well as some promising alt-coins. I haven't tried actual mining with hardware of my own so I am not eligible to comment in that regard.

[pinkflower]

Like some of the advice given here Im with the invest straight into BTC camp.  There were a lot of people who didnt do it because they were thinking that BTC's price was too high. But if they did it for $1000 starting on January of 2016, their investment would be about $10,000 by now. In 5 years it could grow 5 times more.

[Ayiranorea]

Find an altcoin that has got promised growth in a short or long. This can be found through a long time research and using the price variation chart. Once after that invest into the digital asset and make the profit out of the same in a less time and then you could follow the same pattern and save the profit in terms of bitcoin leaving the capital.

[janedt]

Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.

No, don't invest on cloud mining. It takes years to get ROI, it's better to buy the coins directly. You can invest on bitcoin and hope the price of bitcoin will increase or you can invest on altcoin that have a good future for the next 1-2 years. You also can invest on ICO project, there are many good project actually to invest.

[amaral1977]

Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.

As for mining vs trading i would go for tarding as electricity costs in my country are huge and my knowlegde very scarse. I would also stay AWAY from cloudmining.
As for trading diversify. 50% BTC ( some could go in margin tarding lending). 25% well established alts like ETH and MONERO. 15% cheap alts like XBY. 10% is dividend paying tokens like TAAS.

This is not trading advice just an example on how i would diversify 1000 to reduce risk.

[Sled]

That 1000 USD investment for a cryptocurrency is a good start and it is not a big investment or even a small investment but a good start for a newbie. Just buy it all for bitcoin and if you are done buying bitcoin then just diversify it by buying different altcoins in the market like bittrex, poloniex but before you buy something there then do research first to avoid investing on bad projects.

[Kakmakr]

Stay away from Bitcoin mining and also cloud mining. The difficulty is much too high for your $1000 mining rig to make any decent profit and cloud mining is mostly a scam. Do not listen to anyone telling you to invest in some Alt coin, because they most probably own some of it and wants other people to buy it to increase the value of the coins they are hoarding.

Bitcoin has a proven track record and enough volatility to make some good profits buying low and selling high. Stick with the coin that has the highest network usage.

[nicster551]

Stay away from Bitcoin mining and also cloud mining. The difficulty is much too high for your $1000 mining rig to make any decent profit and cloud mining is mostly a scam. Do not listen to anyone telling you to invest in some Alt coin, because they most probably own some of it and wants other people to buy it to increase the value of the coins they are hoarding.

Bitcoin has a proven track record and enough volatility to make some good profits buying low and selling high. Stick with the coin that has the highest network usage.

Yes I agree to you that stay away from cloud mining because there are many mining websites now are turned into scam. It is better to trade your money to the different altcoins so that you can earn an additional income but before trading from the coin make a research first to the coin that you are wanted to trade because there are also a scam coin that doesn't have no progress for a long time and may become disappear in the future.

[mundang]

If i were you im gonna invest that money in an altcoin which has the promising project and its for long term. Dont you notice the rise of icos these days, but some of them are scam so becarefull on what coin you will pick to invest.

[bamboylee]

Mining is expensive and you cannot find a cloud mining that is not going to be a scam. Your best bet for a small amount like that is go for altcoins and bitcoins. And if you know how to do trading, that is a good option as well.

[severaldetails]

Cloud mining is a scam, and mining hardware is expensive. Remember that with mining, you have to pay for electricity as well. Those things eat a lot of it.
I would really say that buying coins with the budget you have available is the best solution.
If you don't want to risk it all on one coin you can split it up.
Maybe half of it into bitcoin and the rest equally devided into three other major crypto currencies.
Then you are on the safe side, I think.

[azhar700]

you do not need to be confused and do not have to think about buying your own setup and mine, or with cloud mining. whether bitcoin has not attracted your attention to invest in it? do not be too risky by choosing an altcoin that will not necessarily benefit. investing in bitcoin in my opinion is very promising profit.

[Yuhee]

Well mining depends on where is your country or how fast you own internet can be. Also even if you have a good setup but the internet in you country is low, then you wont really have a good profit and its obsolete. But if you have fast and reliable internet like gigabytes, then it is really profitable u might as well as build another setup if you would. Cloud mining has the same that really relies on how fat your internet is.

[yugyug]

an initial capital of 1000 usd is a good start in crypto investment but risk handling depends on what crypto you are going to invest, but suggestion is try to make a 4 portfolio on your investment for a safer side, so this is how you divide your investment a 2 30-percent for long term investment and a 2 20-percent  short term and faster roi . for long term investment try btc and eth or other top 10 alt coins with not more than a 100 dollar value. the other two sets for short term is for 2 alts with less than ten dollar value. my best advice is stay away from scam-proned cloud mining. although mining is viable but it needs a lot of time to stablize mining profitability than trading / investing.

[Hydrogen]

Alright, let's say I have a budget of 1000 USD and I want to invest it into cryptocurrency. Is it better to buy my own setup and mine or do cloud mining or should I buy some coins directly ? What cryptocurrency might be the best for long-term profit ? I am willing to lose that money (although I would be sad ofc) but I wanna somehow start with cryptos since I believe it has got a great future.

Mining is mainly for those living off grid who generate their own electricity via windmills/solar panels/etcetera or those who have access to a limitless supply of cheap (or free) electricity to power their mining rigs. The difficulty of mining coins is always increasing and so being profitable from a mining perspective is always a battle of diminishing returns where the cost of electricity factors in heavily. When the value of a coin rises, it becomes easier for mining to be profitable. But in most instances a lone miner probably won't be as profitable as simply buying coins and holding them over the long term.

There are a lot of cloud mining turnkey operations which promise the power of cloud mining through a browser interface with only making an account being required. Those have a poor reputation and usually aren't profitable due to the number of additional middle men in the chain who have to make their profit. With cloud mining basic electricity costs aren't necessarily optimized or kept at a minimum which could make it inferior to more independent miners who have access to cheaper energy.

I'm not certain which crypto currency is undervalued at the moment with a good potential for growth. Looking over stats and metrics probably wouldn't be a good bet if you're looking for short term gains. The best one might hope for may be to get in early wherever the pump and dumpers plan to go next & be lucky enough to ride their pump on its way up. Or maybe to wait for the next big fork announcement which could drive the value of btc down & wait for its price to decline before getting in and (hopefully) riding it back up.