LOOKING TO INVEST MY LIFE SAVINGS NEED ADVICE

[hajimasan]

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.


Thank you

In my opinion you should not go with the bitcoin or etherium mining hardware , instead of this you should buy etherium classic mining hardware .
One of mine friend have etherium classic miner , he was saying that is much better than etherium or bitcoin miner because it doesn't create much heat but still we need to provide a better climate to the miners to make cool and also need a better space ( a small room atleast ) .
Here you should take care that you should not think that you will remain in profit every day because value of the coin may get down and also may get up and in that case you will remain limited to the amount of the mining , so fluctuations of the price may get Result into bad for you .
So even after become a miner you will face problem to hodl your assets and also here you should take care that you should make analysis whether cost of electricity high or down according to what you are getting in the mining , otherwise you will face big loss .

[FreeOxen]

A suggestion would be not to invest your entire life savings into any investment whether it be cryptocurrency or otherwise - if you lose all your money on one wrong move then you are a goner. Make sure you keep a buffer of emergency money in case everything goes pear shaped too.

[jvdp]

A suggestion would be not to invest your entire life savings into any investment whether it be cryptocurrency or otherwise - if you lose all your money on one wrong move then you are a goner. Make sure you keep a buffer of emergency money in case everything goes pear shaped too.

For entire life what we can expect as a investment. None of the project or business cannot be long lasting till the government is running up their business here mate. Kindly invest the fund on top crypto currencies like bitcoin, ethereum and litecoin.
These coins are really helpful to understand the worth of it now and do your investment soon on this coins mate.

[btc_angela]

Its been more than 6 months since the OP stated his idea here, and since then we haven't heard anything from him. I hope that he was able to profit in December 2017 otherwise if he put everything and all in he is not on a big deficit by this time. It only proves how the market literally turn to worst and if you gamble along the way, it will be difficult to overcome because of the current negative sentiments after the big break out run last year.

[michellee]

Its been more than 6 months since the OP stated his idea here, and since then we haven't heard anything from him. I hope that he was able to profit in December 2017 otherwise if he put everything and all in he is not on a big deficit by this time. It only proves how the market literally turn to worst and if you gamble along the way, it will be difficult to overcome because of the current negative sentiments after the big break out run last year.

maybe he forgot about his thread and he is busy to calculate how much profit that he made. and if he can make a big profit, I am sure that he still continues to make another profit and he will come back to his thread and tells about his investment so far. but still, many of us cannot make a profit because some of them are too late to take a profit in the last year and now, they need to wait for the price increase back so they can slowly take their profit.

[incomeviet]

I can only recommend it to invest a new cryptocurrency at a bigger market such as binance, hitbtc, okex and others in the top 10 of the market, as it is long term investment, it is still long before they become delesting .

I agree. Also, the coins of exchanges are good choices such as HT or BNB.

[anjho.ace]

I hope the man who created this thread didn't invest his life savings...
as we can remember November 14 was a high price for BITCOIN...
and look where we are now.

advice: never go in full speed, always give a half or less.

[mekie]

Realy realy bad idea putting your life savings into 1 plan, mining is hard and expensive unless you can get free or nearly free electricity and broadband. Personally I would not put more than 20% of my savings into anything-just imagine how it will feel if you loose all you have worked so hard for for so long, By all means reinvest your profits back into crypto and with luck you will see a big capital gain.   

[diger]

L3+ and antminer s9 are the best miners being used in the many mining farm. You will be able to get the 500 USD atleast with these single rig. If you able to afford for multiple hardwares you please purchase the multiple cards.

[HatakeKakashi]

Investing you life savings is not a good Idea,  because what if the price of the bitcoin that you mine or bought decrease or dump the price you lose big.

Maybe I suggest invest only the 50% of your lifesavings because incase they have not good happen you have money that can help to you to recover again . But if you have fully decided to invest all of your money to cryptocurrency just be careful of what investment or coins you invested to prevent losing of your life savings. Best of luck for you bro I hope your money will grow so you can buy all of your needs and wants.

This is an advice only and it's up to you if you want to use it or not.

[Rocktop044]

Investing more than spare money in crypto is a big NO!
It is still a fairly new sphere. And it's still  very possible that cryptocurrencies get to near zero value.
Always invest what you can afford to lose.

[TerawattLED]

Be very careful going all in. Some of the greatest investors in the world say never invest more than 5% of your portfolio into something risky.

Like my stepmom used to say NEVER put all your eggs in one basket!!!!

[nororiek]

Mining these days requires a lot of things to consider, and the most important is the rate of electricity where you are.
Once all this can make mining feasible, then choosing the right hardware for the coin you want to mine is just the best and that can be done from research.

[RockBar0]

my advice is you need to learn first about crypto so you know what you need to buy for your investment. I think you don't have to use all of your life savings for investing in the crypto and I think you need to prepare for the worst thing, for example, the price of your coin is getting down for a long time. maybe you can use 50% of the total of your life savings so you still have money for your daily needs.

I see him should balance his personal finances first. Then use excess money to invest and increase your chances of making money. Do not expect a source of income, turn them into passive money. Only then will it be better and it takes time.

[mekie]

Really bad idea to invest your life savings into any single thing. It is imperative that you spread your mony about. I would suggest that bitcoin and for that matter any other investment should never exceed more 20% of your portfolio.

[Eadefemi]

Your life savings? Entirely??? I should let you know that the ROI on Bitcoin mining has reduced considerably in recent times and it is speculated to continue in that reduction trend...

Please, spread your investments. That's my most sincere advise to you

[$anounimus$]

if you are looking for a place for good investment and can provide very many benefits then I can advise you to invest in bitcoin by buying bitcoin and hold it until the price increases and you can get very much profit.

[Volli123]

If you wish to get rich like early bitcoin investors you need to find hidden gems. But its hard our days, as most are just scams. But for safe one choose top 10 from coinmarketcap.

[susuberuang]

for investment then you can use the advice of some people from the people here, I suggest you buy as much bitcoin as you can by buying bitcoin you also participate for investment.

[Calenture]

Friendly advise;

If you want to invest money in something, you need to be precise and make sure you know its context until you have them down pat. If you have doubt about your investment or you have doubt about your knowledge about that something that you will invest, don't invest. Gain more information, read more and be %100 about your knowledge about that.

Shortly, if you cannot plan what you do next, don't invest; because it shows you truly don't know all things about that and you will be investing blindly and this is just gambling.