Which plan seems better?

[TedMosby]

personally, I will choose the second plan, with some speculation in other alts. that is what exactly I do now.
but I've never bought 100% in crypto. max 60-70%, the rest for the dip.

HW wallet is needed when you are very strict with the security of your wallet. for example, you need to store it digitally on a device that impossible to be reached by internet connection. so, you will need an air-gapped hardware wallet  

not sure about it, I just use a hardware wallet because I love trying something new, like a tech and crypto enthusiast. mobile wallet is enough for me. maybe because I don't have many assets.

[The Cryptovator]

Since I am not a fan of LTC, so number one would better solution. Although I am a fan of Bitcoin, if I am neutral then also you keep ETH in your portfolio. But rather than 50%, it would better 60/40. So you can take advantage of both coins. Actually depends on you about buying and holding duration. Because we can't determine the actual dip to buy, so you have to take real-time decision.

[hahay]

I prefer to have the initial plan, because when you can buy every week regardless of price then I think buying every time there is a decrease will probably be the right choice. Anyway, in the end it's about holding right? So, if you have the ability to buy every time there is a decrease, then of course the purchases made at that time will get more assets than you bought when the price was still high.
Well, at the point where you feel your assets are already very high and are worried about being hacked then of course, at that point a hardware wallet will be needed. But yes, during that time I think you will be able to feel more comfortable if you continue to use the same wallet that was used before, because it will arise because you are used to it and feel comfortable if you continue.

[wxa7115]

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?

In my opinion it is better to avoid so called diversification in this market, pick bitcoin and buy whenever you have some money available, keep records of how much you bought and what is the cost so you know the average price at which you bought, if you are going to buy as low as in 50 dollar amounts I will recommend that you only buy once a month otherwise you are going to pay a lot in fees.

Now about the hardware wallet question, a hardware wallet costs something like 60 to70 dollars last time I checked so once your capital is 10x to 20x that amount then it is worth to buy a hardware wallet, with it the most common hacks will be unable to hurt you and that is a great advantage in this market.

[Yamifoud]

Plan B is better but I have to replace LTC with BNB. I was considering more potentials that BNB has than LTC and we are talking about long-term goals which appropriately these coins meant to be.

60% on Bitcoin, 20% each for ETH and BNB. It will be good for me and I usually put more funds in Bitcoin coz I know the capabilities it has and we never regret it.

[Rengga Jati]

They are actually good decisions about diversifying funds into the coins.
Both options one and two are good. However, I probably will go for the second one.
Why? because I also do love some other altcoins that are worthy to take, trade, and invest right now.
It is also because sometimes, Bitcoin hits very high and in that time is probably good time to buy more worthy altcoins (the coins commonly drops at that time), and then buy them in dips and make them as a short investment.
So, BTC and ETH can be short or even long-term investments. While other altcoins are precious to choose, in which they are the one that deserves for short investment or trading only.

[Shasha80]

If I have to choose between Plan 1 or Plan 2, I prefer Plan 1 because for now only Bitcoin and Ethereum are good for HODL. But maybe
the percentage of investing in Bitcoin is slightly increased to 75% and investing in Ethereum is just 25%. That way the planning looks
more perfect. Regarding hardware wallets, it is really needed, because it is the safest crypto storage for now.

[mk4]

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.

Pretty much. It's already 2021 and I can't believe some people(even some being here for 3+ years already) still think buying altcoins is effectively "diversifying" their portfolios. It's literally one of the worst advice I've seen here yet one of the most common.

[Matimtim]

For me, its better to put our investment in different place of investment just like what the others say "don't put all eggs in one basket" because if you put it in one basket the risk is bigger and you cant easily manage the risk of investing in that way, thus  I choose the plan number two.

Your second plan look great and there are possibilities you can succeed.

[Reatim]

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

How long will you plan Holding your coins ? this is important question because you did not clarify the full details and you only mentioned about the plan of buying but no specification when to sell.

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.

I will be Biased about these 3 , because i support all of them so i guess the plan is cool and you may be earning great in 1 or 2 years time?

HODL both obviously.

Again the span of time , it is important.

Also at what point is a hardware wallet required?

When talking about Holding , it is required from the beginning because our coins will always at stake if you are not Holding your own Private Keys..

[Lorence.xD]

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.

Diversifying at the start is not a good thing for starters, there isn't any profit yet so you have to focus on one thing then try to grow your capital in it and then diversify. Personally, both plans don't seem viable to me because if you put all-in in bitcoin and it grows, you will get more value out of it and bitcoin proved that it can grow exponentially with the evidence that the charts from past months showing a growth. Timing the buys will be difficult but it is a must if OP plans to buy bitcoin at dips.

[Ridwan Fauzi]

Depend on the situation, if you have more time to make a prediction and you have a lot of capital to be spended than plan B is a good way.

But, since I don't have much money and I don't have much time to make a prediction then plan A is a good way for me. Making a prediction and searching for where bitcoin will fall is a good way for those who have a work in real life.

I do this thing so far, I just have a little time to see a market in a day so I just put my entry price and just let it. This way has been working for a few months before to me, also I use future market to add another opportunity to get a high profit.

[fortune1002]

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.

I think plan 1 is better than plan 2. Or you should only Invest in BTC at dip, so you can get big Profit. And I also suggest you to don't invest in LTC. BTC is good to invest.

[peter0425]

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

This is the safest because you are relying in the most Biggest coin in the market.

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.

This is the practical way because at least you are almost assured of taking Good income as those mentioned are the strongest coins in the market.

HODL both obviously.

Also at what point is a hardware wallet required?

Perfect decision , HODL..


Hardware Wallet must be the sanctuary of your coins.

[Amejoaquim]

Gonna give you "Plan 3", how about you keep buy btc every week and forgot about another coins?

For me BTC is the best and the safest investment you can do, Low Risk and High Gain = BTC.

If you dare to take the risk maybe you can find small coins(Outside top 200 CMC) with big prospect and good team.

[Pom_bensin]

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?

point 1 and 2 still use hardware wallets, but point 1 is preferred to hold, because btc and eth are the two coins with the greatest value and price. maybe I think this is one way of securing assets of great value

[mezzaluna]

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?

Plan 1 is a safe choice since you are only risking to buy on those dips and the chances of those dips recovering are high which means the profits can come to you simultaneously on both Cryptocurrencies.

Plan 2 is much riskier but you should try and removing LTC since the volatility of its value is much slower than BTC and ETH. You could also try looking for Alternate Cryptocurrencies that can yield a much greater price by buying them at their lowest values like their starting values. Plan 2 is also a better way to improve your investments on the Cryptocurrency industry since you are spending money on them weekly.

I'll obviously go with Plan 1 because I just hate having this losses that is avoidable.

[panganib999]

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.

Even if you are a monthly trader or simply say that long term holder, you must also need to check the market from time to time more over if you don't put any stop loss in you coin. I understand the concept of long term holding or a monthly trader yet somehow I believe that this kind of attitude or strategy is a gamble one that requires a lot of luck. Taking care of your funds is the main priority. For me, personally I would not gamble or put all of my koney for long term because it might be able to waste and lose in just a small time. I will be more discipline and selfish in my earnings and capitals.

[pawanjain]

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?

Hardware wallet is good when you hold large amounts of cryptocurrencies and you are planning to hold it for long term.

If I were at your place, I would buy BTC and ETH 50% - 50% and buy it on regular intervals to average out the price.
I would store it in the hardware wallet if I were to hold it for the long term.

[wxa7115]

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.

Pretty much. It's already 2021 and I can't believe some people(even some being here for 3+ years already) still think buying altcoins is effectively "diversifying" their portfolios. It's literally one of the worst advice I've seen here yet one of the most common.

It just a matter of common sense really and yet people do not get it, even if we were talking about the stock market diversifying by investing in the stock market again makes no sense, diversifying means investing on other markets or assets.

We know that bitcoin is by far the best coin in this market and if you have bitcoin then most likely that is the only coin you need, anyone with a need to diversify to protect their investment should instead look at real state, precious metals, art(real art not the NFT bullshit we are watching) and maybe even a few stocks.