Cryptocurrency investment guide

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  1. #1
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    Cryptocurrency investment guide

    I thought I'd make a quick guide to help those out looking into investing into cryptocurrency... I myself am fairly new but I've had great succes so far...unfortunately this guide will be for those who know the basic of crypto, if you don't do some research........ And here is what I learned so far...

    Just like steriods, research research research then dive in.... Never get greedy.. Buy low and sell high.. When you think you going to hit it big time with everyone is when your going to lose the most..

    There are a few options I see to invest in Bitcoin or other crypto...

    1. Simply by a coin or a few coins you see a bright future in like Bitcoin and store them for a long time and hope for the best... Not a bad idea and should yield a good investment long term. As I personally see crypto becoming big.... How to store the coins.. Create a paper wallet or buy a ledger.....

    Pros
    simple
    not time consuming
    less risk

    cons
    Not likely to get crazy gains
    must be very very patient


    2. Day trading... This is where you can careless about a coin long term and simply trade coins day to day making small gains that add up very quickly... Read charts, follow the masses.. This takes time to master and with cryptocurrency you are competing with bots... Not my favorite but this is making a few people rich...

    Pro
    Make good profits


    Cons
    difficult and takes time to learn
    More risky
    will take up most your day


    3. Project investing... This is what I try to focus on... Like day trading but little different... I find a coin or project that is just starting out OR has been dying down for awhile.... I look for big updates that are going to happen, such as big articles, Platform launches, new exchanges, upgrades..etc... In the coming weeks... I set up some buy orders low and see if they hit.. Usally big updates bring attention to the day traders and the volume goes up and so does the price on that day... Then I sell for much higher then I bought in for as I bought in a few weeks before when it was low....

    Pros.
    Big rewards
    your a buying at a low point, less risk if picking the right project

    cons
    updates have to follow thru!!!!
    Lots of time researching for the perfect project
    you will need to help shill the project.. Get it out there for people to see..


    There is a ton of market out there and lots of money to be made.. You just need to learn what works for you and need to spend some time.. I learned and always research a forum called bitcointalk.. It would be a good place to start learning where to start. As I said in another thread... Give it a few months before you really put money in, learn the market first and you won't be disappointed.... Honestly everything I learned was different to type out here but I hope this helps... Questions please fire away

  2. #2
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    Where do you look for your updates on specific currencies? Is there a website you use for that or just Google?

    Sent from my LG-K550 using Tapatalk

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    Quote Originally Posted by babykong View Post
    Where do you look for your updates on specific currencies? Is there a website you use for that or just Google?

    Sent from my LG-K550 using Tapatalk
    Bitcointalk it's a forum
    the coins own website
    community channels such as slack or telegram

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    Quote Originally Posted by Dema View Post
    Bitcointalk it's a forum
    the coins own website
    community channels such as slack or telegram
    So bitcointalk isn't just based around bitcoin itself but all the currencies on the bitcoin market? Hmm ill check it out. I usually just buy when ones bottomed out and sit and wait for it to jump up using apps to monitor. I've had decent luck so far. Just have to be patient with it. Any currencies you'd recommend buying right now?


    Sent from my LG-K550 using Tapatalk

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    Quote Originally Posted by babykong View Post
    So bitcointalk isn't just based around bitcoin itself but all the currencies on the bitcoin market? Hmm ill check it out. I usually just buy when ones bottomed out and sit and wait for it to jump up using apps to monitor. I've had decent luck so far. Just have to be patient with it. Any currencies you'd recommend buying right now?


    Sent from my LG-K550 using Tapatalk
    i won't push trade tips here as I don't want to use this as a platform to shill... I don't want to mix these two things together.. But I will say there are tons of good choices .

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    Thanks for the post. I'm actually going to start doing some research and try my hand at this. Plus I need to figure out how to use bitcoins for future transactions anyways lol.



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    Also for those of you who want to understand Bitcoin more.. There is a documentary called banking on Bitcoin on Netflix... Gives you alittle more understand how and why we use Bitcoin... Just keep in mind it's a few years old and behind

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    How much have you made dema? Also what's the biggest loss you've taken?

    just curious

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    Quote Originally Posted by nwguy View Post
    How much have you made dema? Also what's the biggest loss you've taken?

    just curious
    Put in about 2k cash over first few months... Believe I've taken out around 6k cash.... Have about 25-30k in market value worth of coins... Problem is.. To cash that out I would need to sell them.. Selling large amounts would bring down these small markets and I'd have to sell them for cheap.. I plan on holding and trying to make more off them and gradually pull cash out... Some are very long term holds tho

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