Tips for newbie to long-term investing

[TelolettOm]

Would this be a wise decision? Or should I just keep going with the approach I have now?

EDIT

Right know I'm heavily focused on accumulating as much Eth as I can. I..
.....But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Actually, we don't know when exactly the price bottom of ETH or other cryptocurrencies. What you are doing right now is such a kind of DCA.  In my opinion, your recent strategy is okay right now because you are spending some of your salaries to buy ETH with every price drop.
But if you are going to accumulate your money at first to buy ETH at certain drops, it is also okay, although we don't know if our expectation is exactly in the dip bottom or not.
ETH is a good point, ADA is also potential. Well, do you also invest in Bitcoin?

[Vaculin]

(.....)
My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

You should be careful also what you are accumulating. There are a lot of shitcoins right now.
Another thing is to identify your goal or price target especially if you are trading, or you want to make profits along the way or it depends if you don't want to sell or take profits.

I think what you mentioned is considering a Dollar Cost Averaging (DCA) which is also a good way for long-term investment these days, just make sure you will have strong hands and avoid panic.

If you will focus on accumulating bitcoin and do DCA, i guess your funds will be safe. However, i won't suggest to invest all your funds into bitcoin or cryptocurrency, because no matter how profitable it is, it won't give us guarantees to give quick profits whenever we badly needed some fiat. So always invest on the amount you can afford to lose. And when we do long term investing, we should always take calculated risks.

[BitcoinPanther]

The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

It would be better if you DCA rather than waiting for the bottom and buying at once.  Your idea sound great but the problem would be how to determine the bottom.  There is a possibility that you will miss it while waiting.  So I guess the best strategy is DCA, buy at every lower low, that way you won't miss buying the bottom.

[LastKiss]

The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

It would be better if you DCA rather than waiting for the bottom and buying at once.  Your idea sound great but the problem would be how to determine the bottom.  There is a possibility that you will miss it while waiting.  So I guess the best strategy is DCA, buy at every lower low, that way you won't miss buying the bottom.

Yeah DCA is the best strategy at the moment I guess since we don't know the bottom price it's better to buy little by little with our set price target. Well with DCA we can't always put our money in every low since our money is limited too. So it's always better to keep long term hold since every investment we can't always have a mindset to get rich quickly.

[Zilon]

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Why not focus on BTC then spread your portfolio after heating a set target of BTC you will like to accumulate. The crypto market is very volatile at the moment any investment is riskier than you can imagine. ETH is a nice project too but your capital matters a lot because of high transaction fee. Accumulating both ADA and BTC can still be considered. But for long-term hold Bitcoin serve the purpose full time

[Xampeuu]

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Why not focus on BTC then spread your portfolio after heating a set target of BTC you will like to accumulate. The crypto market is very volatile at the moment any investment is riskier than you can imagine. ETH is a nice project too but your capital matters a lot because of high transaction fee. Accumulating both ADA and BTC can still be considered. But for long-term hold Bitcoin serve the purpose full time

for a newbie I think the selection of coins is very important to determine his future. I think btc is enough to invest if the OP is a beginner, as time goes on so that his knowledge increases, then I think he can develop investments in his favorite altcoin, considering that choosing an altcoin will be more risky. There are many basic mistakes that beginners make by investing in new projects because they want to get big returns

[Sanitough]

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

Do not repeat the same mistake again and lose everything. For now, learn to invest in bitcoin with just an amount you are not afraid to lose. Although you could maximize your bitcoin investment particularly in buying from the dip, but never allocate all your salary to bitcoin. Save some of it for future needs. You can invest in bitcoin and hold for it for long term investment, that is the most common strategy that will make you rich eventually if you always sell them at their highest peak.

[Nrcewker]

I think the most important thing with this type of investment is to be sure of the right choice and the right work strategy. For this I use a demo account of a broker from Amarkets and so far I am more than satisfied with my choice.

I thought the OP is asking about crypto trading?
The OP wants a coin in which he can invest for long term and yield slow yet steady profit.
I don’t see any valid point for using a demo account in this situation.
The OP can go for clear cut method of choosing the best coin.
And invest in it and stop worrying about it for minimum 3 years.
This type of investment only fits for Bitcoins. So as advised earlier, OP should blindly buy the Bitcoins without having second thoughts.

[hashrateproducts]

for a newbie I think the selection of coins is very important to determine his future. I think btc is enough to invest if the OP is a beginner, as time goes on so that his knowledge increases, then I think he can develop investments in his favorite altcoin, considering that choosing an altcoin will be more risky. There are many basic mistakes that beginners make by investing in new projects because they want to get big returns

Crypto itself is risk but investing in it is more risky. Long-term investment are very good techniques in hand for the newbies to build and achieved most success in the space. For newbie to be in the space it means he or she have all it takes to withstand anything the space have to offer. One major fact that always triggered newbies to only go in persuit for bigger Profits which will sometimes land them or lead them to lose and liquidation. One thing is responsible and it's greed, newbies should to eliminate your greed because it's a bad and worst thing been a greedy person.

[GeorgeJohn]

That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.

if really you are emphasising on cryptocurrency investment it's quite wrong indecencies that cryptocurrency is not what you can predict when you will purchase it. Because no time you go into cryptocurrency buying is wrong. I use this medium let you know that the investment of cryptocurrency is based on target and if you don't have target its when you be confused about cryptocurrency. No time you venture into cryptocurrency investment is wrong.

[Lanatsa]

That's the thing I'm struggling with, I actually want to put in more money. But I just can't afford to, I want to maximize on the buying opportunities but I know that's the FOMO creeping in, and I'll just have to stay patient.

if really you are emphasising on cryptocurrency investment it's quite wrong indecencies that cryptocurrency is not what you can predict when you will purchase it. Because no time you go into cryptocurrency buying is wrong. I use this medium let you know that the investment of cryptocurrency is based on target and if you don't have target its when you be confused about cryptocurrency. No time you venture into cryptocurrency investment is wrong.

Set targets or goals and this isnt only on crypto investments but also in other investments as well.If you dont set goals or target then you would really be messing up your decisions from time to time depending on the
market condition.

If you do go for long term then buying time is never been an issue since you are going after for long years of hold before you do make a overall sell out but what if the price dips on that particular time?
It would really be creating that kind of disappointment or getting annoyed but if you do have set out plans and decide to accumulate more then its up to you.

Not all would be having the same state in terms of financial and in terms of their plans and analysis thats why it do always differ to each other.

[BuNga_cute]

for a newbie I think the selection of coins is very important to determine his future. I think btc is enough to invest if the OP is a beginner, as time goes on so that his knowledge increases, then I think he can develop investments in his favorite altcoin, considering that choosing an altcoin will be more risky. There are many basic mistakes that beginners make by investing in new projects because they want to get big returns

Crypto itself is risk but investing in it is more risky. Long-term investment are very good techniques in hand for the newbies to build and achieved most success in the space. For newbie to be in the space it means he or she have all it takes to withstand anything the space have to offer. One major fact that always triggered newbies to only go in persuit for bigger Profits which will sometimes land them or lead them to lose and liquidation. One thing is responsible and it's greed, newbies should to eliminate your greed because it's a bad and worst thing been a greedy person.

It is true that the most effective way for a newbie to make a profit is by long-term investment. Because that's the easiest thing a newbie can do
when trying to make a profit from crypto. Long-term investment only needs to buy potential coins, then after that we only need to hold the coins
that we have bought until we reach the desired target.

But the fact is that newbies prefer short-term investments in new coins or shitcoins which are high risk, because they want to pursue
big profits. Ultimately it is greed that prevents newbies from investing long term, because most newbies really want big profits instantly.
That's why more experienced people choose long-term investments than newbies.

So the lessons that can be taken, especially for newbies who want to dive into the world of crypto, are they must first learn about the crypto world
before deciding to invest. In order to know what steps should be taken in order to generate profits safely. So if they don't understand how
the crypto world works, they shouldn't be in a hurry to invest in crypto.

[gunhell16]

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?

EDIT

I would like to thank everyone for their helpful advise so far, I will definitely take each point made into serious consideration. Also from the points made, it lets me now that my mindset is where it should be.

Right know I'm heavily focused on accumulating as much Eth as I can. I'm almost at the goal I've set for myself in terms of how much I'd like to have before investing in another coin, since I've started investing again a short while ago. Next up I'd like to stack some ADA and BTC of course. But I can't help but wonder is accumulating ETH and ADA the right move right now? Or should I be more invested in BTC in terms of potential long-term returns?

According to your story, I don't see anything wrong with what you are doing about what you want to earn through cryptocurrency, even in your plans to buy or purchase altcoins because they all have the potential to give you a good income in the future, but don't you want to add Bnb, Xrp, Matic, Dot and Sol to them? this is just my suggestion that I think it will also help you. And besides you have the capability to buy them all as well according to what I saw it from you dude anyway.

[Rigon]

For those who are new to this forum and willing to invest I would definitely like to give some good gifts.There are many investing tips but the best tips for newbies is always to invest in the best coins.Otherwise all funds will be lost.After investing, sell only if there is a good profit from there.Otherwise, if the current state of the market is this, you will not be right, later you will want to sell yours and buy other coins with a lot of juice.And always choose the best coins by doing your own thinking and analysis. Thanks everyone.

[boyptc]

First of all, when choosing an option for long-term investment, I would advise you to evaluate all the risks and possible development scenarios with the security that is chosen as an investment. It is very important.

And he knows that security and risk that you're telling about and that's why he's on that part of choosing which is the best to take that spot.

If you're focused on accumulating ETH then that's your calling and your plan which isn't bad at all. Because whenever bitcoin comes back again at the peak, ETH will come along and will also follow its chart.

[harapan]

Don't turn trading Into gambling, don't do with your emotions it's a shitty thing if you don't know already. Don't use someone's money and cash to trade. Also when you trade don't put all you have in a particular investment. Expect both good and bad when you trade so you don't panic to death when you don't win finally.
Learn to ask good questions from financial advisors .

[Issa56]

You are really smart for getting a job first before you start investing, the strategy you want to use depend on the salary you are receiving, if the amount you are investing monthly won't really affect you, then I think it's a nice idea investing part of your salary. Always make sure the amount you are using to invest is the money you won't be needing for now because it's a bad idea selling from the money you invested in a coin, because when you might be selling, you might be at lost. So make sure the money you will be investing is the money you won't be using for now.

[Rufsilf]

I hope that newbies have done their research before starting investing in crypto as knowledge is vital to do this. Many newbies had failed and that was because they underestimated the market, this should not happen to you OP.

* invest leading coins
* set enough capital
* enhance your level of understanding
* learn to make TA and FA

Of course, this can't be done instantly but you can somehow learn more together while you are investing already.

[adzino]

Hi guys,

After the immense hype up of the crypto industry, I jumped into crypto investing last year along with al lot of the casuals. I spent a couple of hundred bucks but sold just above break even point after the market crash last year. I was forced to because I needed the money to invest into myself to find a good job. Now that I've found a job, I started investing in crypto currency again, and started doing my due diligence.

My goal right know is to accumulate as much crypto as I can, but I'm not sure what the best strategy is considering the current economic factors. The approach I've had over the past couple of months has just been dropping a portion of my salary each month into crypto. But now I'm considering stacking my fiat to buy in on the bottom of this bear cycle which I think is yet to come. Would this be a wise decision? Or should I just keep going with the approach I have now?
-snip-

Yes, do that if you are planning to hold long term. Keep investing a part of your money in crypto currencies every month and hold them. Invest those money that you can afford to lose and you wouldn't need it during random situations. Don't sell as long as you aren't in profit. When the price drops, invest more of what you have to maximize your profit. Store it somewhere safe, create backups and forget about it. If you can stake your coins, then stake it in your OWN wallet, not some centralized exchange. Invest most in bitcoins and rest in well known altcoins.

[worle1bm]

The main part for newbies is that if they don't have knowledge about the market then start with some top coins like btc and with small investments only so even if you loose them it won't be a problem for you in the end.Never panic sell your coins as market will recover after some time but not for shitcoins so be sure for it and gain knowledge and experience with your each trade that will help you to learn from your mistakes and avoid them in future.