Which plan seems better?

[ConnerDalfino]

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

[1715432572]

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[1715432572]

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[1715432572]

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[mk4]

Or just go with Plan B: Buy bitcoin only weekly or monthly.

I get that you want to speculate with other cryptocurrencies, buy I personally wouldn't allocate more than 10% in altcoins; and I'd definitely put zero on Litecoin. That's just me though, you do you.

Also at what point is a hardware wallet required?

When the value of cryptocurrencies you're holding is big enough to spend some money for more security. But since a Ledger Nano S or a Trezor One is cheap enough, I suggest just grabbing one asap from their official websites.

[NeuroticFish]

First of all, "by the book", it's better to have (at least!) 50% of all assets in Bitcoin. I won't comment on your choice of altcoins.
Second, I'd buy weekly/monthly, since dips are easy to miss and you can easily end up buying at a higher dip than you would have bought at scheduled time.

For hardware wallet you already got the best answer from mk4.

[DdmrDdmr]

<…>

I wouldn’t put LTC into the equation nowadays, especially if it’s taking up a chunk of bitcoin off as a cost of opportunity. That would leave plan 2 null, out of the two you are pondering.

Plan 1 relies on dips, which are easy to see on hinder thought, but perhaps not so much in the heat of the moment. You could also consider the weekly purchase strategy that you have in Plan 2, but applied to plan 1.
You can simulate prior results (which does not guarantee future results) using a DCA simulator such as https://dcabtc.com/. Bear in mind that no type of fees are not taken into account using the simulator. I’d also go with a higher proportion with BTC than ETH, but all in all, it’s always down to your preferences.

Concerning the hardware wallet, that is what I first bought, before even considering the amount of BTC (or else) I was going to acquire.

[logfiles]

Plan 1 would be good. But of course while targeting the dips. Sometimes you can easily notice the dips throughout the month. Following the ETH/BTC chart can be helpful.

As for Litecoin, it more like Bitcoin Lite so If I was to go with plan 2, It would be week 1 50/50 BTC and ETH, week 2 100% BTC....

Most Hardware wallets are less than $100, so you can buy it early enough for your assets. Remember, Security is also part of investment  

[davis196]

Plan 1: Buy BTC and ETH only. Spend $50 and buy 50% BTC and 50% ETH. No schedule and buy on dips.

Plan 2: Buy BTC, ETH, and LTC. Weekly, regardless of the current cost of each coin. Alternate between coins so 1 week buy 50/50 BTC and ETH. Next week buy 100% LTC. Next week buys 50/50 again.

HODL both obviously.

Also at what point is a hardware wallet required?

Why do you want to buy BTC and ETH,since their prices are moving in the same direction.
Real portfolio diversification means buying various assets,which prices aren't correlated to each other and are not moving in the same direction-up during a bull market and down,during a bear market.
I think that it doesn't matter if you buy BTC and ETH only or BTC,ETH and LTC.It's basically the same to me.
I'm a Bitcoin maximalist,so I would buy 100% Bitcoin and 0% altcoins.

[Sterbens]

every month I get an income from a month's work, I have to set aside a ration to buy bitcoin. it's like my obligation to save every month. the second option is Eth 50% of the rest of my finances. and wait for next year.
we have options in a variety of ways to own bitcoin. Instead of saving at the bank every month you will only be charged interest. and I prefer to save in bitcoin.

[yazher]

Plan number one seems to look good to me since you are constantly doing it. You will not gonna miss the chance if those two cryptocurrencies will gonna spike their price again in the upcoming months. You need to have a plan like something they called exit plan when the price continues to rise and stop at its new ATH this year. I think you should have one especially today. Where everyone is carefully checking the market every day whether the price will continue to rise it will suddenly stop and fall again like last time.

[Review Master]

Both plans will be good if OP remove LTC from the plan-02. Also it'll be best to allocate more percentage for buying bitcoin weekly instead of using 50% in Ethereum or altcoins. As it's for hodling purpose, than go for bitcoin and ethereum as both of these are in the cycle of profits which will give us profits even after the upcoming bearish markets.

Also at what point is a hardware wallet required?

Hardware wallets are more secure than using online or desktop/app wallet. But one thing is more important than all of these wallets which is "Not your keys, Not your Cryptos". So keep private key or memoric phrase in a safe place.

[dothebeats]

While diversity is king, I personally wouldn't allocate 50% of my funds on altcoins. They have greater volatility than bitcoin, and are somewhat inconsistent on some things that tend to make some traders dump it. In the case of ETH, it's a good investment, although again 50% is a huge number to allocate for your investment on the altcoin. It has its obvious merits, yes, but its market is still far different from bitcoin.

My take: plan A with 80% bitcoin, 20% ETH and you're golden. Though the 'buy on dips' part would really make you work hard in analysis IMO.

[aoluain]

Over the years 1 have been buying BTC, ETH & LTC, now its just BTC.

Look at what the Big investors are doing, they are buying Bitcoin, it has
what the long term investors want, wealth security, Ethereum and
Litecoin are not going to do it.

Hardware wallet - Get one now.

[passwordnow]

Take it easy by doing the plan 1 but there's a suggestion that you should also do. How about increasing the portion for bitcoin and lessening the percentage for Ethereum or LTC? You can always go for both of those altcoins but you should put bitcoin at the top priority than them. It is ok to diversify but it will make your portfolio better looking if you've got more in bitcoin than those altcoins. Those alts are likely to balance your portfolio but it's even a good strategy if you'll only go for bitcoin.

[Ausgewielt]

If there are only two choices then I prefer like to choose plan 2. By that strategy we can minimize the risk and get higher profit, this also make us get better position. But honestly I don't use that strategy, DCA isn't appropriate with my life style. I usually use lump sum strategy but I only trade when I can really get good position, so for now I really rarely go to exchange site but it's works, I usually get profit every I trade my cryptocurrency.

[Rikafip]

If you want to risk more, then you can diversify between BTC and ETH but if you want to play if safe, just go all in on BTC. As simple as that.

Regarding that part on buying the dips, since I guess that you are new to all this, timing the market will be very hard for you, and possibly even frustrating (like being upset because you bought and right after that price went lower). What I would suggest you is to buy BTC/ETH once in a few weeks, preferably at the same date and keep on buying like that,so some sort of collar cost average method.

[Coin_trader]

Use DCA(Dollar Cost Averaging) during dip instead of buying it regardless of the price weekly or buying dips all at once. The market is unpredictable that's why it is advisable to enter a position by tier so that you can minimize risk of losing and increase the chance to earn more. Continuous accumulation regardless of price is for traders with great capital only like institutional investors. Its not advisable to do by normal trader with tight budget because at some point, You will stop cashing in Fiat into crypto.

[Innerpumper]

the second package. I think more coins purchased will have more potential to make a profit. This is evident from my personal experience. When we focus on one or two coins. We'll definitely miss the other coins. Take advantage of asset management to get more profit.

[mk4]

the second package. I think more coins purchased will have more potential to make a profit. This is evident from my personal experience. When we focus on one or two coins. We'll definitely miss the other coins. Take advantage of asset management to get more profit.

That's a really bad way of looking at it. The potential money to be made surely increases, but the chances of losing money increases as well. If anything, especially knowing that we're talking about freakin Litecoin— whereas there's just too little upside with large amounts of downside.

[isaac_clarke22]

~

That's a really bad way of looking at it. The potential money to be made surely increases, but the chances of losing money increases as well. If anything, especially knowing that we're talking about freakin Litecoin— whereas there's just too little upside with large amounts of downside.

I guess some people really got used "too much" into diversed investment.
The usual "Don't put all eggs in one basket" mindset if it applies.
Having your money invested in too many coins isn't a good thing either.

[GeorgeJohn]

The problem is that, to remember to invest always come peoples mind because the finance is not there, but the process whereby people have the finance, concept of investing doesn't come to their mind, it seems that buying cryptocurrency and hold for long term is nice options, because its obvious that the money used to purchase the coin will increase or multiple within a short time.

[newwest]

Normally I like the monthly investment unless in between if the market crashes a lot then you can buy all in else better to keep on moving monthly so that on each month whenever there is a dip you can buy some amount worth of coins. Also investing in multiple coins is a better idea just to have the best of all and to diversify it.