 |
November 22, 2017, 04:35:21 PM |
|
Just stick with BTC if you're relatively new, and buy a little bit each time you get paid... preferably when BTC/USD dips. It's really tempting to get involved in ALTs early on. But if you go in big on something that fails, you'll be kicking yourself. The biggest gains come from the biggest risks... don't bet your stack on them.
Here's my advice. When your BTC has appreciated enough against USD for you to invest a little BTC into something else without your initial USD investment dropping below the amount you have put in, consider investing in some of the well established ALTs that still trade against the USD/USDT. Buy into those currencies when they are dipping against BTC. When they go up a bit (20-50% or so, depending on the run), convert them back into BTC. Repeat with other established currencies.
This has been my tact. Today, I own 15 different currencies, but 85% of my crypto investment is still held in a currency that trades directly with USD/USDT. (I'm about 50% BTC, 25% ETH, 10% XMR.) When the market pulls back hard, I want to be able to easily switch my funds into USD/USDT and buy back in when the dust settles. Crashes are common here.
When your well established ALTs start making you enough BTC for you to feel good about risking a bit more, only then should you think about investing in some of the small market cap, high risk currencies.
I'm not an expert and I've only been at this for a couple of months myself, but using the method I've outlined here, I've seen growth of 268% over my fiat investment. Conversely, if I had simply made my initial purchases and held, I'd be looking at roughly 30% growth. I'm sure other people in here can report 5,000% gains over the last two months, but I have to imagine that their strategies take considerably more skill, time, and luck.
|
