xvacator (OP)
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Activity: 341
Merit: 4
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October 04, 2020, 10:29:20 AM |
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After such a long time, I am busy in my real life because of Covid-19. I am trying to read the news here and find something that can help me make money.
So, I am trying to deposit some money to binance and buy the coin as my investment. Here is the list:
TRX, LOOM, TROY, KAVA, EOS, ONT.
The biggest allocation of my money was in TRX.
In the first month, I use little money to invest in TRX, and I got the next month's reward. So I decide to invest more money to buy more TRX plus to buy the other coin as I mention above.
I am planning to invest more, but I need suggestions on what coin to invest. Should I still invest in TRX? Or I need to buy the other coins?
I am thinking about SXP, ADX, Tezos, Atom, Algo, Harmony, Qtum, Komodo, Neo, and Elrond to be on my investment list, but I know that I can not buy all of that coin at once. I can buy it every month of each list with the money that I am willing to use for the investment.
I already did that from 3 months ago, and now, I am trying to use $30/month to invest.
I have my bitcoin in other wallets, which I don't use to buy those coins. I keep my bitcoin just in case for the next bull run. I use the other money to trade, although I know that the profit is not too big for me, that's really meant for me.
Thank you.
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tabas
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October 04, 2020, 10:54:30 AM |
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Don't diversify with too many altcoins. Why don't you want to invest in bitcoin? and are you holding your altcoins on Binance and leaving it there as is? If that's what you do, for holding, withdraw it and hold it to a wallet where you hold the private keys.
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xvacator (OP)
Jr. Member
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Activity: 341
Merit: 4
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October 04, 2020, 11:17:07 AM |
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Don't diversify with too many altcoins. Why don't you want to invest in bitcoin? and are you holding your altcoins on Binance and leaving it there as is? If that's what you do, for holding, withdraw it and hold it to a wallet where you hold the private keys.
No, I am not. So far, I only have 5 altcoins in binance, and I am trying to staking the coins on binance because I think that can be profitable for me. I also invest in bitcoin, and I am still trying to invest in bitcoin in a separate wallet. But I want to diversify my investment by investing in an altcoin.
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PancongStreet
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October 04, 2020, 11:17:42 AM |
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yes, it's better for you to store it in your own wallet than in a wallet exchanger because it has a fairly large risk for a good coin it looks like you have to glance at Doge, usually doge is used for bag holders and can make you gain a very large profit
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khiholangkang
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October 04, 2020, 11:18:57 AM |
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Does investing mean holding coins for the long term? Your choice of coins is good, but it seems that in the long run you have chosen the wrong place, don't store your coins in centralized exchanges, it's better to keep them in a private wallet because we never know what will happen in the future.
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Akiko
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October 04, 2020, 11:19:45 AM |
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Not bad idea to diversify your investment with different altcoin and use only what you think is enough to invest which is $30 monthly.
Just make sure that your investment is bigger in bitcoin than in any other altcoin . As long you believe that you can earn profit someday in your chosen altcoin you can continue doing it .
You will recieve many suggestions here but you are the one who will decide what you think is good to you .
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tabas
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October 04, 2020, 11:20:26 AM |
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Don't diversify with too many altcoins. Why don't you want to invest in bitcoin? and are you holding your altcoins on Binance and leaving it there as is? If that's what you do, for holding, withdraw it and hold it to a wallet where you hold the private keys.
No, I am not. So far, I only have 5 altcoins in binance, and I am trying to staking the coins on binance because I think that can be profitable for me. I also invest in bitcoin, and I am still trying to invest in bitcoin in a separate wallet. But I want to diversify my investment by investing in an altcoin. Great! Good luck with those staking that you're doing. With all of those altcoins that you have mentioned, I think the best of them would be these two coins. They'll also allow you to earn passively.
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TGD
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October 04, 2020, 11:31:21 AM |
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Don't diversify with too many altcoins.
Diversifying funds is the safest way if you want to minimize loss to your portfolio. The only problem is the altcoin that you will add to your portfolio. You should assess all altcoins price movement and create a strategy. Let's say if you want an aggressive trading, then choose volatile coins like DeFi coin to add in your trading basket. But if you are a passive trader then choose coin that price moves slowly even BTC fluctuates. There's a saying that don't put all your eggs in one basket.
The reason why traders fail on diversifying funds in altcoins was they add random coin with different price behaviour that's why there portfolio is not moving because there asset price moving opposite to each other.
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Reid
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October 04, 2020, 11:37:14 AM |
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Don't diversify with too many altcoins. Why don't you want to invest in bitcoin? and are you holding your altcoins on Binance and leaving it there as is? If that's what you do, for holding, withdraw it and hold it to a wallet where you hold the private keys.
No, I am not. So far, I only have 5 altcoins in binance, and I am trying to staking the coins on binance because I think that can be profitable for me. I also invest in bitcoin, and I am still trying to invest in bitcoin in a separate wallet. But I want to diversify my investment by investing in an altcoin. You don't think that is enough yet. As of me, I get careless or let's say it's just too much work to keep on checking every altcoin that I will buy. Monitoring will be your problem when doing this. If you will be on full time checking them it might eat a lot of your time instead of focusing on just a minimal number of coins. There will be times it may be jumbled to your head.
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goaldigger
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October 04, 2020, 11:39:54 AM |
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Monthly investing on good coins/tokens is a great decision, just know when you will sell your holdings and don't diversify that much so you can maximize your potential earning. Binance is the best exchange, and they are listing good DeFi projects as well where you can trade for short or long. Start investing now again, we can all rise after this pandemic and cryptomarket is the best way for us to bounce back financially, there's so much opportunity here.
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BITCOIN4X
Legendary
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October 04, 2020, 11:44:43 AM |
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Altcoin are more prone to losing their value in the long term as an investment asset. If you keep your bitcoin in your wallet just in case there is a rise, why should you buy more altcoin to invest in? Bitcoin in the long run is a great investment asset with good return in my opinion. This is not the case with altcoin due to a lack of interest in particular for new altcoins. TRX might be a good choice for you besides you also trust bitcoin.
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xvacator (OP)
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October 04, 2020, 11:50:05 AM |
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Great! Good luck with those staking that you're doing. With all of those altcoins that you have mentioned, I think the best of them would be these two coins. They'll also allow you to earn passively. Yes. I am thinking about earn passively, and I can wait for a long term I will decide later which one that I will buy because both coins is good. But I think I will choose Tezos because the percentage is bigger than Neo, and to earn rewards from Tezos will only need 1 Tezos. Thank you for your suggestion. You don't think that is enough yet. As of me, I get careless or let's say it's just too much work to keep on checking every altcoin that I will buy. Monitoring will be your problem when doing this. If you will be on full time checking them it might eat a lot of your time instead of focusing on just a minimal number of coins. There will be times it may be jumbled to your head. No. I will not keep on checking every altcoin that I will buy. All the things that I need to check are on https://www.binance.com/en/staking/products because I am trying to staking from that list. Besides that, I also try to use the locked investment in Binance at this page https://www.binance.com/en/pos. I don't know if that will works for me or not. Altcoin are more prone to losing their value in the long term as an investment asset. If you keep your bitcoin in your wallet just in case there is a rise, why should you buy more altcoin to invest in? Bitcoin in the long run is a great investment asset with good return in my opinion. This is not the case with altcoin due to a lack of interest in particular for new altcoins. TRX might be a good choice for you besides you also trust bitcoin.
That is because I want to diversify on the altcoin investment too besides of bitcoin. I also buy bitcoin every month with the other free money that I have, so I have investment in bitcoin and altcoin.
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X-ray
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October 04, 2020, 01:24:37 PM |
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Dude, remember if you should never try to put all of your money in the one basket and just spread them all into the legit coins with the good portions.
You should bet into the new coins that have a lot of potential. I guess the coins like adex or something else didn't seems a good coin to be bought by you. Just try to take a look at some new coins that have the more chance to go to the moon.
You can see AVAX or something else. Remember to enter the market when the price was getting plunged a lot.
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genievic23
Jr. Member
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Activity: 417
Merit: 2
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October 04, 2020, 01:39:36 PM |
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After such a long time, I am busy in my real life because of Covid-19. I am trying to read the news here and find something that can help me make money.
So, I am trying to deposit some money to binance and buy the coin as my investment. Here is the list:
TRX, LOOM, TROY, KAVA, EOS, ONT.
The biggest allocation of my money was in TRX.
In the first month, I use little money to invest in TRX, and I got the next month's reward. So I decide to invest more money to buy more TRX plus to buy the other coin as I mention above.
I am planning to invest more, but I need suggestions on what coin to invest. Should I still invest in TRX? Or I need to buy the other coins?
I am thinking about SXP, ADX, Tezos, Atom, Algo, Harmony, Qtum, Komodo, Neo, and Elrond to be on my investment list, but I know that I can not buy all of that coin at once. I can buy it every month of each list with the money that I am willing to use for the investment.
I already did that from 3 months ago, and now, I am trying to use $30/month to invest.
I have my bitcoin in other wallets, which I don't use to buy those coins. I keep my bitcoin just in case for the next bull run. I use the other money to trade, although I know that the profit is not too big for me, that's really meant for me.
Thank you.
TRX was my first love token back then, and I still believe in the progress the project is making. I participated on TRX ICO, and received great return. So I'm actually grateful for my past decisions on buying TRX, as of now, if you're looking for project to invest w/ try looking for KittieFIGHT, it's the same devs as CryptoKitties who congested the Ethereum network back then, and I believed that NFT's will be the next project who'll make some noise in the coming months.
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Ridwan Fauzi
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October 04, 2020, 02:34:29 PM |
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Why are you asking a question which you have done what you asked?
First of all, you need to ask yourself why you choose the coin for your investment place, don't only see the has increased in one day and you are interested to it. You have choosen it and you have got a reward, don't you trust your analyst? If I were you, I'll never ask something that I feel it is good to me, the people's suggestion will only gives a bad thing to me. This is why, you have to know the potential of the project itself, your knowledge will lead you, yeah the investment is depend on you.
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crwth
Copper Member
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https://linktr.ee/crwthopia
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October 04, 2020, 02:44:53 PM |
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It depends if you still want to collect more TRX in your portfolio. The best advice for investors is to diversify their assets towards different instruments. If you have a lot more money and are willing to risk more, I think diversifying would be the best. If you believe that You only want one type of asset and investing monthly to TRX wouldn’t be so bad.
I thought you were investing directly in Binance because of the title but you were talking about your exchange. Lol.
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masterrex
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October 04, 2020, 03:56:23 PM |
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Mate, that was my strategy before in the year 2018-2019. And during that time I was holding several altcoins in my portfolio, But I'm not happy with the results. Just let me clear my position! I'm not saying that the diversified crypto Investment is bad? what I'm saying is you should minimize the number of your holdings so that you can easily monitor the price including its market movements, And if the time will come you can sell it immediately with a good profit.
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matchi2011
Sr. Member
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Buy $BGL before it's too late!
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October 04, 2020, 04:12:17 PM |
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Mate, that was my strategy before in the year 2018-2019. And during that time I was holding several altcoins in my portfolio, But I'm not happy with the results. Just let me clear my position! I'm not saying that the diversified crypto Investment is bad? what I'm saying is you should minimize the number of your holdings so that you can easily monitor the price including its market movements, And if the time will come you can sell it immediately with a good profit.
That's true. You need to actively monitor your assets so you can react in every market movements, diversifying is also another strategy that's needed to have more in depth analysis, it's hard to select coins to invest and hold if you don't have time to monitor the market, always make sure that you have all the information so it will be more easier to you to decide whatever directions your assets went thru.
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CucakRowo
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October 04, 2020, 05:53:48 PM |
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To OP. Imo, investment diversification is very good. Especially if you are a long term hodler. But please remember, when you diversify your portfolio more than 8, you will usually experience difficulties, especially during a downtrend. Because you have to calculate the impact of the losses you will experience. Based on your characteristics, it is better to divide your portfolio (excluding amount of BTC that you already have) as follows: 40% in Stable coins 60% in altcoins. About your question. Imo, TRX still has bright progress (although not too wow). With its community base they have, fast transfer and cheap fees, I think TRX still has a chance to reach a new ATH. For other coins, I think every coins related to finance (especially coins with lending platforms) still have a wide opportunity to reach new ATHs. Just a suggestion, apart from the coins that you mentioned, try to check NEXO ( https://www.coingecko.com/en/coins/nexo). I think NEXO can be included in your list.
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bigcash2011
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October 04, 2020, 06:57:04 PM |
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I think all the coins you have short listed or looking to invest are good and personally i have good opinion about them too but considering your small budget I would suggest you to pick only cheaper coins from the list as it will give you more satisfaction and more gains when bull run is here so my suggestion would be Tron, Vet and Harmony.
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