I'm 19 years old and want to start investing for the future. I have no interest in making short term gains. I'm looking to keep these investments for a few years. Where do I start off? I cant put that much into it at the moment, maybe $50 or less a week.
That's perfect! The best way to invest. Buy it and forget it. It would be easy to start with Bitcoin (and you would never have to look back unless this cryptocurrency thing as a whole disappears). But I'll offer another option for you - think about Litecoin!
Litecoin is severely undervalued compared to how long it's been available and how long it's been considered the sliver to Bitcoin's gold. Litecoin is trading between $60-80 right now, so each of your $50 a week can buy nearly an entire Litecoin. That ability to buy more coin per investment interval allows you to increase the leverage you'll have when Litecoin starts to move. Now, don't expected it to hit Bitcoin price levels at the same time as Bitcoin...Litecoin will have 4x the amount of coins in circulation at somepoint (81m vs. 21m for bitcoin). So it's fair to think that Litecoin's fair value should be 1/4th that of Bitcoin. Today that would be a bit over $1,000...yet it's still trading below $100.
Ask yourself, will it be easier for Litecoin to reach $1,000 or Bitcoin to reach $40,000?