HELP! I want to invest but don't know which and how. is DigiByte ok?

[jesse florian]

im 18 years old and have $100 (Canadian) that I would like to invest. im not looking for a quick buck or anything, doing this just to see how it is investing in cryptocurrency. upon research, I came upon DigiByte and was wondering if this is a good investment for the long run? ive been following for the past 2 days and it has gone up in value and then down again. if this is not a good investment I would love to hear of others. thank you 

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[mk4]

Rule #1 of investing: Do not invest in things you do not understand.

Tell me. Why gave you interest into Digibyte in the first place? If your answer is because it's "cheap" at $0.007632, then you need to do a lot of reading.

P.S. I think DigiByte is crap.

[jesse florian]

Rule #1 of investing: Do not invest in things you do not understand.

Tell me. Why gave you interest into Digibyte in the first place? If your answer is because it's "cheap" at $0.007632, then you need to do a lot of reading.

P.S. I think DigiByte is crap.

this is my first time investing in anything, and I thought $100 could be a safe start in investing. and Digibyte due to how cheap it is and how it fluctuates (don't know if thats a good thing). im open and curious upon learning more in the cryptocurrency realm and am a complete beginner knowing absolutely nothing. apart from bitcoin (which is known to mostly everyone).

[bartekjagoda]

im 18 years old and have $100 (Canadian) that I would like to invest. im not looking for a quick buck or anything, doing this just to see how it is investing in cryptocurrency. upon research, I came upon DigiByte and was wondering if this is a good investment for the long run? ive been following for the past 2 days and it has gone up in value and then down again. if this is not a good investment I would love to hear of others. thank you 

You could try localbitcoins which is a pretty hood choice.

Do you plan to buy cash or use credit card? The fees might eat up to 10% of your investment so check costs involved and think long term

[jesse florian]

You could try localbitcoins which is a pretty hood choice.

Do you plan to buy cash or use credit card? The fees might eat up to 10% of your investment so check costs involved and think long term

@bartekjagoda, I know absolutely nothing about this. I didn't even know that you could buy cryptocurrency using cash (I assume physical cash) along with fees eating apart of my investment. but thank you for that recommendation, im going to check it out

[JeromeTash]

I usually don't love giving financial advice. I don't know so much about digibyte but what i would advise you to do is to first know what you are buying.
Try to know more about the blockchain solutions digibyte provides to the current world problems, how active the team is and what their future plans are.
Don't just buy because the price went up or down. Look at the bigger picture.

[mk4]

this is my first time investing in anything, and I thought $100 could be a safe start in investing.

$100 is definitely a decent starting investment, especially knowing that you're just starting out.

and Digibyte due to how cheap it is and how it fluctuates (don't know if thats a good thing).

Digibyte is cheap because:

• Next to no one is using it
• It's current supply is around $12 billion, while bitcoin is currently at 18 million. Would you rather hold a ultra-rare Michael Jordan trading card that everyone wants or a very common trading card of an NBA player that barely anyone is interested in?

Now, just because it's cheap does it mean that it's a good investment? Definitely not. Dog poop is cheap too. If you think something is a good investment just because it's a cryptocurrency, definitely not. 95-99% of cryptocurrencies will fail. Think about it.

im open and curious upon learning more in the cryptocurrency realm and am a complete beginner knowing absolutely nothing. apart from bitcoin (which is known to mostly everyone).

Then why not bitcoin? Assuming you know a bit of information about it.

[jesse florian]

I usually don't love giving financial advice. I don't know so much about digibyte but what i would advise you to do is to first know what you are buying.
Try to know more about the blockchain solutions digibyte provides to the current world problems, how active the team is and what their future plans are.
Don't just buy because the price went up or down. Look at the bigger picture.

I see, I would definitely research more into this but from quick research I gathered that this is the safest cryptocurrency. I got this information from CoinSwitch which I have no idea if is a reputable website for accurate information.

[jesse florian]

@mjglqw

am I able to buy part of a bitcoin with $100? currently 1 bitcoin is at $10,414.36 (Canadian). and that is interesting knowing that 95-99% of cryptocurrencies fail, is there anyway knowing which is destined to fail and which isn't?

digibyte also fluctuates becoming valuable and then going cheap again, which is why I was keen on investing/ wanting others opinions on it.

ive been here for an hour and have already learned valuable information. thank you everyone 

[mk4]

am I able to buy part of a bitcoin with $100? currently 1 bitcoin is at $10,414.36 (Canadian).

Yes. You can theoretically even buy like $5 worth of bitcoin. Though buying that small of a amount might not be worth it, but it depends on what exchange and what country you're in.

is there anyway knowing which is destined to fail and which isn't?

There's no guaranteed way to know. But there's a very good chance that bitcoin isn't one of those going-to-fail coins. That's why you're taking a huge gamble when you're holding something that's not bitcoin and probably ethereum.

digibyte also fluctuates becoming valuable and then going cheap again, which is why I was keen on investing/ wanting others opinions on it.

As with most cryptocurrencies. Doesn't make that a good choice for long term.

ive been here for an hour and have already learned valuable information. thank you everyone  

You're welcome. Do a lot of research before putting money in, even though it's just 100 CAD.

[notblox1]

Rule #1 of investing: Do not invest in things you do not understand.

Lot of people invested and are used Bitcoin also, even if they don't understand it also,
so I don't think understanding is the issue here.

im 18 years old and have $100 (Canadian) that I would like to invest. im not looking for a quick buck or anything, doing this just to see how it is investing in cryptocurrency. upon research, I came upon DigiByte and was wondering if this is a good investment for the long run? ive been following for the past 2 days and it has gone up in value and then down again. if this is not a good investment I would love to hear of others. thank you 

I don't think that DigiByte will give you any returns you would like to see.
Price of this coin depends only in regards with Bitcoin price.
Almost every altcoin is just following Bitcoin, so why not just buy Bitcoin or even better earn your own Bitcoin

[mk4]

Lot of people invested and are used Bitcoin also, even if they don't understand it also,
so I don't think understanding is the issue here.

Sure a lot of people invest in bitcoin even if they don't understand it, but that doesn't make it right. Chances are that those people are in thinking it's a get-rich-quick scheme, and then they go complaining on Reddit when the prices drops in the short-mid term.

[JeromeTash]

Rule #1 of investing: Do not invest in things you do not understand.

Lot of people invested and are used Bitcoin also, even if they don't understand it also,
so I don't think understanding is the issue here.

- Those are the people who buy bitcoin when the price is at the all time high and sell when the price in the deep because of ignorance of bitcoin's historical prices.
- Those are the people who always lose money to scammers with schemes such as fake trading bots, ponzi schemes because they are ignorant of how the whole thing works.
- Those are the people who have no idea of legit bitcoin wallets and end up sending to fake wallets
- Those are the people who always complain and panic sell when the market is down
- Those are the people who end up getting scammed trying to claim shit bitcoin forks

Sometimes, knowledge is power. You can't just buy what you don't understand and expect to have happy returns. Investing in knowledge is very when dealing with new tech.

[Javi_Anibarro]

How about this, have you heard something called Dogecoin? other than Bitcoin, buying Dogecoin is a good start for a newbie. Because it is more stable compared to other cryptocurrencies and the fee is not that high compared to Bitcoin if you are sending it from one exchange to another.
not only that, it is also cheaper compared to DigiByte.

[Palider]

Do your own research (DYOR) you just listen to what people say but don't do it especially when it's uncertain and if it's just speculation. You better research and find out which token should be purchased.

Because of this you will know what tokens have the potential to rise in price over time.

[ralle14]

How about this, have you heard something called Dogecoin? other than Bitcoin, buying Dogecoin is a good start for a newbie. Because it is more stable compared to other cryptocurrencies and the fee is not that high compared to Bitcoin if you are sending it from one exchange to another.
not only that, it is also cheaper compared to DigiByte.

Dogecoin is only cheaper than Digibyte because of its total supply 121 billion against 12 billion. The fees on bitcoin aren't that high, it only depends on which exchange you're using some have fixed while others have different levels of priority. There's even a few that doesn't charge any fee I couldn't remember which one but you can quickly find it on the trading discussion board.

[Red-Apple]

if you want to make an investment then the answer is no. Digibyte and by extension altcoins are not good investments. and this has been the case for as long as the altcoin market has been around. they are only good for day traders who enjoy riding the extremely volatile prices which are mostly volatile because of manipulation. for a regular user, specially a newcomer, it is very dangerous because you wouldn't know what to do in the market and end up losing that small investment of yours.

[joseyphil82]

Since you are a newbie on here why don't you spend your time on crypto research first? bitcoin is safer for newbie like you and altcoins are more risky, its your call just make sure you understand crypto before investing, mind you its a bad time for altcoin and also a good time to buy too

[Javi_Anibarro]

Dogecoin is only cheaper than Digibyte because of its total supply 121 billion against 12 billion. The fees on bitcoin aren't that high, it only depends on which exchange you're using some have fixed while others have different levels of priority. There's even a few that doesn't charge any fee I couldn't remember which one but you can quickly find it on the trading discussion board.

That is why I recommend (s)he to buy Dogecoin, it is totally cheaper compared to DigiByte if we are comparing it with its total supply. And the price itself is more stable compared to it, there is no reason for a newbie to not buying it unless (s)he is buying Bitcoin directly. And about the fee, Bitcoin fee might be not that high but if we are comparing it with Dogecoin?
with Dogecoin, we will at most spend 500 Dogecoin or approximately around 0.0002BTC as trx fee but with Bitcoin we need to spend at least 0.0004 BTC as trx fee.

[DonFacundo]

I don't think digibyte is a good investment, how about Binance coin, you're not looking for a quick buck right? so I recommend to invest Binance coin hold it for long term, I'm sure you can make profit this altcoin.