How and where invest 500€

[haha34]

Hello,

I would like to start investment around 500€ into crypto but I need some advice cause i'am totally novice.

Do you have some advice ?
Some ressources to get information ?

Thanks

[jackg]

Do you know what you want to invest in? I think bitcoin is the most populært option, followed by ethereum.

I'd suggest looking at a site like coin market cap and only investing in the top few (5-10) coins by market cap if you wanted to diversify.

The safest way to profit from any investment you think will go up in value is to hold the coins until it does and you're happy with the new value.

[OgNasty]

This being a Bitcoin forum, the obvious recommendation would be Bitcoin. The second best place in my opinion would be paying off any debt you may have, as it is very difficult to ensure the types of returns that you would save by eliminating debt.

[NeuroticFish]

Do you have some advice ?

1. Make sure you invest only money "you afford to lose" (meaning to keep them locked into something until better market conditions or even selling at a loss).

2. Make sure you read and understand what you are investing into. Bitcoin is a wonderful investment, but also highly volatile hence high risk. Most altcoins are even more volatile hence higher risk. (I also advertise a token tied to GOLD price which has lower volatility, you may like it). Then there are the scams - a big number of altcoins exist only to scam, especially in current DeFi rush.
I know it means to do a lot of research, but it's your job to do since it's your money.

3. Make sure you understand transaction fees, exchange withdrawal fees, the difference between custodian wallets and having your own keys and also read about how to keep your keys safe (anyone with access to them can spend those funds); hardware wallets may be something too to read about.

Crypto is wonderful, but there's quite a learning curve, else you can make mistakes easily. But if you take the time and get to understand it, I expect you'll love it. Good luck and enjoy the ride!

Some ressources to get information ?

This forum is a great source of information, but you have to learn to refine and ask more exact questions.
Books about Bitcoin, trading, this and that altcoin... you'll be able to ask or find by searching. But imho you'll have to try better questions than this.

[khaled0111]

I'd suggest looking at a site like coin market cap and only investing in the top few (5-10) coins by market cap if you wanted to diversify.

Investing in one of the top 10 coins is the safest investment but you shouldn't expect a big profit from it in a short time especially when investing a small amount of money (no offense @OP).

I'd rather suggest using those 500€ in day trading. It's not as safe as investing in top 10 coins but with good management and the right skills, you can make a good profit out of it. no risk, no reward 

[notblox1]

I would like to start investment around 500€ into crypto but I need some advice cause i'am totally novice.

Do you have some advice ?

I hope that 500€ is not your life savings because I would not suggest investing it in that case, but if it is your extra money and you are ready to lose it or profit than you can consider first learning when to buy and when to sell something.
As Warren Buffett say: “be fearful when others are greedy, and greedy when others are fearful.”
Safest bet is to buy some Bitcoins and keep it long term, and maybe take some profits on top of the bull runs.

[acroman08]

as of now, I don't even advice thinking about investing or at least put it on hold. just learn everything you can about cryptocurrency until you have or at least confident about your knowledge about it. also, this post from Charles-Tim is quite useful for what you need to look for when searching for information. all this learning will take time and patience is a must.

If i will tell you how I was able to know about bitcoin and cryptocurrencies in gereral, I will advice you to follow these steps: and note that I did not really concentrated on the books below but really concentrated on searching online, reading crypto news and also reading the follwing stated in 3* below. But, if you want to be more tech, you can try one of the books, I used mastering bitcoin.

1. Try to make use of search engine for what you do not know that you come across in the process of learning. Be careful of ads while making use of search engines, do not use google or bing, make use of privacy search engines like duckduckgo and Qwant search engine. Do not click on ads, as ads are deadly.

2. Reading crypto news daily is very important, I make use of cointelegraph. But there are other good ones, download the apps from the official sites of the crypto news and always avoid fake apps.

3*. Read the following
*  Bitcoin mining
*  Bitcoin wallets and why need to have your private keys
*  Exchanges, make sure you know that custodial exchanges are the ones controling your coins because you do not have private keys to your coins
*  Crypto trading, how very risky it is.
*  ICO/IEO
*  DeFi
*  Read about scam generally.

4. These are some books that can help you, and just go easy. I recommend mastering bitcoin.

Good Day Everyone

Mastering Bitcoin

The Internet of Money

Profiting from Crypto

Mastering Bitcoin

Mastering Ethereum

The Age of Crypto

The Bitcoin Standard

The Book of Satoshi

The Business Blockchain

Life After Google

Digital Gold

Blockchain for Dummies

Bitcoin and Crypto Tech .

Crypto Success

Essays on Bitcoin

Price Analysis

Midas Touch

Rich Dad Poor Dad

Cashflow Quadrant

[jossiel]

With all of those suggestions and recommendations.

I have one last tip.

There could be predators that will send you a message that they know where to invest that money of yours. I suggest that don't entertain any of them as most of them are strangers. They are likely trying to do some shady business with your money or worst, scam you.

[mk4]

If you're asking us where to invest your money, then you're probably not ready to invest.

I'm a firm believer in investing in what I personally know; and if I know that something is a good investment, though second opinions aren't bad, I wouldn't even need to ask people for opinions.

Go do some research on the stuff you're interested in investing in, and make your own conclusions. Might as well just not invest if you're not willing to put in the work.

[Mauser]

Hello,

I would like to start investment around 500€ into crypto but I need some advice cause i'am totally novice.

Do you have some advice ?
Some ressources to get information ?

Thanks

I would recommend to not blindly trust other people here on the forum. Better to do at least a little bit of your own research, it is always hard to do own research as a beginner, but that is also the way you learn a lot here.

Personally, I would recommend you to split your money up across multiple coins. As a good start I would put 50% in Bitcoins, and spread out the other 50% across alt coins such as ETH and LTC. These are all established coins where the risk of losing your money is fairly small. You can just buy and hold them.

[Jet Cash]

If you mean investing - then invest in your own training.
If you mean speculating, then you need to do a lot of reading first, and don't start to speculate until you understand the industry.

[FastSha]

I don't tell you where invest your money but give you an advice to learn more about crypto. Then you understand by youself where and how to invest that cost.

[erikoy]

invest directly with bitcoin, this is the only crypto that gives the value of other crypto being paired to it even the altcoins that are widely known get its value from bitcoin. This is why they are called as alternative coins (altcoins).

But somehow you should have known the best time to invest. I think it is not now because bitcoin price peg at high valur and it can go down anytime soo  that can make loses if you do not know to hold.

[libert19]

Invest in established currencies so less chances of your investment to get wiped out, get familiar with crypto wallets to keep your crypto secure. Start with $50 or smth and get familiar with exchanges to know how buying/selling works. Really just take a small step and you will figure it out little by little. Good luck.

[seoincorporation]

Well, there are some steps that you need to understand... First of all, learn how to buy, for that, we have the exchanges, you can use coinbase or localbitcoin to spend those 500€ on bitcoin... So, the second step is where to invest the money, there are tons of options, but the most common is to spend on some other altcoins, and that could be done from the same exchange. That way you can invest, then wait for the markets to bump, and then sell.

[cryptoaddictchie]

I would like to start investment around 500€ into crypto but I need some advice cause i'am totally novice.

My advise is do your homework first. By means of that is study how crypto works and how to invest with it properly. Some mistakes by newbies are always jumping to buying when others suggest it. Dont be such a guy who loves fomo cause sometimes its not effective especially if the one telling you to bought a particular coin already bought at the dip price and only influencing others to hop in.

Better to do is use Google Search Function and find out yourself. This pretty basic question should be understand by newbies that it can be done by couple of clicks on the internet. Resources are all there and be resourceful to find it out first.

[Lucius]

If you're asking us where to invest your money, then you're probably not ready to invest.

Precisely because there is a high chance that such an investment could sooner or later result in a loss, not only if the money is invested incorrectly, but also if the purchased crypto is stored in the wrong way. As some others suggest, it would be logical to first invest some time in education and then decide whether it is a short-term or long-term investment. If the OP wants to trade on a daily basis it is only logical to keep its funds on a crypto exchange, and if he wants to invest long term, then he should invest in a hardware wallet or learn how to make a cold wallet.

There is no magic guide that can teach someone which coin to invest in, when to buy or sell - Bitcoin is the only thing I personally believe in, but let everyone do with their money what they want.

[Harlot]

Do you have some advice ?
Some ressources to get information ?

If you are looking for some kind of website or a group of people handing out advice on what to buy and what to sell I advice you to rather stay away from it or just don't take their tips too plainly as it will always be backed up by some personal motive or they are just simply wrong. If you are really a novice in crypto trading you must learn technical analysis instead of people doing the analysis for you as they can be wrong with what they are doing so if you have knowledge in trading by yourself  at least you will have the ability to double check what they are saying if it is any true or near what you have analyzed.

[Sabuj_pal]

In my opinion, divide your money into four coin- Polkadot, Binance coin, Social Good, Riodefi.

You will find all of them in CMC. but remember it is your money, so do research as much as you can.

[cryptoaddictchie]

n my opinion, divide your money into four coin- Polkadot, Binance coin, Social Good, Riodefi.

You will find all of them in CMC. but remember it is your money, so do research as much as you can.

Im surprised there is no bitcoin and ethereum on your suggestion. Among your suggested list I have three of those except social good which I never heard of. Also I am quite dissapointed with rio defi result. Ive invested with it knowing it could be a multiplier like the mantradao but it seems Ive wasted funds on this one. They are active but what they did during their opening IDO is not really professional. No offense but thats my opinion. Anway if you are gonna suggest why these coins to OP better give him some information about these coins cause he is asking about it. No sense to recommend when you dont have information why should he invest on these.