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Author Topic: LiteCoin_First Time buyer _HElp  (Read 36 times)
mv0001
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January 12, 2018, 09:29:34 PM
 #1

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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KryptoKitty123
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February 08, 2018, 05:33:14 PM
 #4

 Shocked

Before placing your hard-earned money into the cryptocurrency space I suggest you learn about the coin fundamentals using the recommended reading. Start spending your time and energy learning, discussing, using, coding, and enquiring about the coins.

Always remember, investing into Litecoin does come with a risk therefore never risk more than you can afford to loose. Also, think about what you mean when you say you want to invest. Do you want to day trade? Do you want to invest in the companies? Or, do you want to buy currency with the hope it will appreciate in value?

This guide has been useful in my research www.cointelligence.com/content/ultimate-litecoin-guide
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