Hey all. So... after a few weeks of studying crypto i decided to make some purchases. I only bought a couple of days ago, so not holding coins at their lowest point. Nothing huge, but with the idea of holding it for around 10 years to give to my children. I know no-one can ever predict what will happen to prices, so i just bought what ( at this moment ) i could afford to lose, although i am sure i will add small amounts over time in the future. My purchase is made up of some XRP, Iota and Data. I also bought a Ledger Nano to store it on ( guessing that will be as safe as anything ...) Here's the main questions i am wondering....
Why ? Any investment apart from Real-Estate/Oil doesn't seem feasible to reserve for 10 years.I mean who even knows if you will ever wake up tomorrow ? (Sorry a bit philosophical there) Take coins out of crypto,internet would be replace by something else and so will the blockchain...a decade changes everything.
1) Are my purchases sensible ? ( As far as anyone can be with this...and i know alot of that will be based on different peoples opinions, but i didnt want to risk getting caught in a scam ICO )
Who knows ? The fact that you are planning to hold it for 10 years makes me nervous.Do change your thinking there..
2) My ledger gets here in a couple of days... and despite reading up on MEW, i cant figure out if i will be able to send my coins straight to the ledger from the exchange, or will it be Exchange --> MEW --> Ledger.
MewToo! :/ You don't know how to use bitcoin and you're planning to hold it for 10 years ? Man,don't lose that ledger lol Advice : Use a better wallet,exchanges can turn into scam any minute.
Not asking if i should have bought X instead of Y, just asking for a little bit of knowledge as looking and reading the wealth of info out there is swamping me i.e when using/creating with MEW should i be offline ? As it seems i need to download stuff etc..
Yes you do need to download stuff but I don't think you're ready for that yet.Inbox me if you need an further advice/help with cryptos.
