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Author Topic: LiteCoin_First Time buyer _HElp  (Read 19 times)
mv0001
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January 12, 2018, 09:29:34 PM
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Bought  350$ worth of litecoin for@$ 275. Is is better to hold of . If yes or better to buy any other coin. Please suggest
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trouble401
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January 13, 2018, 01:05:38 AM
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If you only have $350 worth it probably isn't worth it to actively trade as you'll just get your profits eaten away by transaction costs.  I would suggest learning about the major coins and alts and thinking of a long term strategy.  If you don't have a lot of money, maybe select a few coins to but in $50 or $100 every month.

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January 13, 2018, 01:20:40 AM
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Join the club buddy. I agonized over this for a while and personally made a jump a month ago. First off, the fees on $350 will hurt your profit margin and the potential growth compared to time value is kinda questionable. But if you are having fun and using it to learn on:

1) I am fairly confident that if you hold for a while, you will end up with some profit.

2) I am absolutely confident that other Alt coin opportunities will provide greater returns, but expose you to further risk.

I personally traded all my litecoin into a mixture of coins: MOD, ONION, Bitcore, TRON (after it crashed), XLM (after it crashed), REQ & QSP. So far the profit from the gain on these far exceeded the loss I incurred in my poorly purchased litecoin. I cannot say if that is true in the future.
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