Holding for a couple of months.

[steven915]

I was thinking of buying some coins, like litecoin or etherium and holding them for a couple of months since I won't be needing the money that'll be getting.
Is this a good idea? I was thinking of buying litecoin since it's all that I can afford, 2 pieces to be exact and I'll be holding them for 3 to 4 months till I get enough money to buy whatever it is I need to buy, I wanted to hold them just incase the coin increases it's value. Also should I hold it on trading account like bittrex, should I hold them in a wallet like exodus or should I place them in a wallet where I can instantly convert coins into money.

[1715114987]

1715114987

[1715114987]

1715114987

[mk4]

Holding certain cryptos are definitely a decent investment (or even the best investment decision you have made if you buy and sell at the right times). Though take note that it isn't guaranteed for prices to go up. You can lose money, just like with any kind of investment, there are always going to be risks.

Where should you store your LTC and ETH? Read this: [General] Bitcoin Wallets - Which, what, why? Storing your coins on exchanges are almost never a good idea. The only reason I would leave coins in an exchange is if I'm actively daytrading.

Relevant: The Inside Story of Mt. Gox, Bitcoin's $460 Million Disaster

[steven915]

I understand the risk and I'm willing to take it, concerning the transfer fees, will I lose a lot of my money when I transfer my BTC to another wallet, or will that depend on how much BTC cost at the moment?

[Vicrypt]

That pretty much depends upon BTC price since you are paying price in satoshis (BTC decimal places).

Also, if you are dealing in say $1k worth of bitcoin $2-3 fees won't hurt much.

[steven915]

That pretty much depends upon BTC price since you are paying price in satoshis (BTC decimal places).

Also, if you are dealing in say $1k worth of bitcoin $2-3 fees won't hurt much.

Alright, but should I place them in a wallet like exodus or should I place them in bittrex? I mean I'll be holding them for a pretty short time, like 3 or 4 months. Also, can you suggest a trusted and efficient btc or alt coin wallets for mobile? I was thinking of coinomi, something I can store alt coins at.

[readygoaw]

I was thinking of buying some coins, like litecoin or etherium and holding them for a couple of months since I won't be needing the money that'll be getting.
Is this a good idea? I was thinking of buying litecoin since it's all that I can afford, 2 pieces to be exact and I'll be holding them for 3 to 4 months till I get enough money to buy whatever it is I need to buy, I wanted to hold them just incase the coin increases it's value. Also should I hold it on trading account like bittrex, should I hold them in a wallet like exodus or should I place them in a wallet where I can instantly convert coins into money.

I think it is the best policy now to keep your cyptocurrency, and probably for more than two months.You will get more profit.