By - RanuRzgar
Look out for scammers in your inbox after this post friend
Literally got two messages from random people trying to get me into some crypto operation.
God tier comment
My Reddit private message is turned off for this reason
I have other communities where I participate so it's not viable for me to turn it off. I just ignore any private messages related or even mentions crypto
You can have fun with it. Waste their time.
I kinda did once for the giggles, but on the other hand it pisses me off how they are able to scam people with such obvious stuff. I mean, I can do that too easily if I wanted but I'm too decent for that kind of shit.
Agreed. It's sad to see people fall for scams, and people do fall for all manner of scams all the time. Most of them are transparent and it boggles the mind that anyone falls for them. But, it is a volume game. Out of 10,000 attempts, they will find a few naive people they can fleece. The best and only solution to this is constant and repeated warnings about these sorts of things.
If you ever want to see some great videos where scammers get the roles reversed, check out the Youtube channel "Tech Support Scams" and various related channels. The guy reverses the connection with tech scammers and hijacks their systems. Starts telling the scammer personal details about them. Once he even hijacked their CCTV and starts telling the person what they are wearing. It's hilarious.
Yeah I know those channels, I get off of scammers losing tens of hours of their lives and seeing them meltdown once the guy redeems the voucher in front of them wasting their time and effor in a snap of a finger.
You should scam the scammers get them back
But its so fun to mess with them
That is FUD, Elon Musk personally messaged me 4 months ago and said he gonna double my BTC. It has taken him sometime because of Twitter, Chair Powell and all, but I trust and wait for my doubled BTC any day now. I bet it's gonna coincide with the coronation of the rightful Nigerian prince I invested in 20 years ago.
If you receive any message from a random hot girl telling you about crypto, block him. That’s the rule.
Yes, scammers they come in any color and flavor, look out for the most dangerous: blond hot girls
Kindly give us your money sir
I wouldnt spend 2500 at once, i would DCA in.
Well if they did their average would still be lower than most of us so not a terrible idea...
Yeah. Way too much to just jump into as a new investor. Take your time , do your research and just start with at most a 10th of that (not financial advice, lol)
There is evidence that lump sum investing typically works better than DCA
I’d pick 2 or 3 good coins and Divide the $2500 evenly. Then continue to DCA…
I’m sorry for my absolute ignorance in the matter but what exactly is DCA?
Dollar Cost Average. It basically just means you throw the same amount of money into your portfolio every week (whatever you can afford), regardless of what the price is at.
Dollar cost averaging. Since timing the market is a recipe for disaster, consensus is that if you’re in it for the long term be it btc or stocks, it’s generally a good idea to split your investment and buy regularly over an extended period of time. This way your entry price will become an average of the price over that period.
One of the coins I'm in i buy 10 bucks a week. Its not much, but I've been doing it for years. The consistency is key, the money adds up, and you catch the lows. You also will pick up less coins during the highs, so those buys end up affecting your overall position less.
Over time, assuming the market generally trends up, you make out decently well. Its reliable and simple and you don't gotta try and time the market, which is not a sustainable way to invest unless you really know what you're doing on a professional level.
Also, id just stick to the big coins for now. Dont go for anything too out there. Do some research, and diamond hand as hard as you can.
>pick 2 or 3 good coins
How exactly do you decide what a "good coin" is? Are there some fundamentals on which to base a value judgement?
This is the common sense answer to what OP should do. Putting the whole 2500 in at once then DCAing 100 or so every 2 weeks.
20k BTC 1200 ETH is a great entry point.
I'm not sure I agree at this point, everything is down 70-80% already.
First, disable private messages as you will get lots of bots and scammers messaging you
Second, start to DCA (Dollar cost average) which means to invest the same amount everyday or week etc… pick something big like BTC or ETH
Thirdly, it MAY be a good time to invest big amounts at once but NO ONE really knows where the bottom of this bull market will be so if you want you could invest $500 - $1000 in one lump sum and then DCA the rest
Ops didn’t have my glasses on
Do you have $2500 that you can afford to lose?
NEVER invest anything you cannot afford to lose....
good luck OP
All in BTC/ETH
Btc trash. Eth maybe for a little 4x. Lol
Lol, if eth can 4x what suggests btc won’t?😂
Am not saying it cant, but it’s a horrible investment for the ROI. Btc needs to hit 80k a new all time high for a 4x. Eth just needs to go back to ATH, but if btc goes to 80k and it 4x ETH is probably going to 10-15x 2k to 30k. ETH ROI is far more superior and it’s not even close.
That gave me a headache to read you lost me after ‘eth just needs to go back to ATH’
ROI ETH = good.
ROI BTC = bad
You’re saying that if btc hits 80k, eth will 10x-15x?
Last run BTC did a 10x and ETH did a 40x. ETH is just a leverage position on BTC. They have paired liquidity. So if btc 4-5x ETH will do far greater numbers.
Are you saying that if Bitcoin goes up to 80k then eth will go up to 30k? I just need a yes or no answer for some clarity lol
Eth is the mother asshole from where the other shitcoins are born. Don't buy Eth. Look at the Eth/BTC chart. Eth will never reach previous ATHs on this chart.
It's a broken system that they are desperately trying to market as a solveable problem. But it is hugely centralized and the "founders" have control over the monetary policy.
The next Bitcoin is Bitcoin.
Stupid kids these days think a 4x is a bad investment. Many people don’t see those returns in their entire lifetime. People who don’t hold any bitcoin are really shooting themselves in the foot.
4x is not good at all. 💀
I hope you got gambler anonymous in your area.
I think it's the other way around. Eth gonna be irrelevant soon and btc king always
Lol wtf 😂😂. Get real. BTC is king that’s why it’s slow like a chessboard. It has most of the liquidity so it harder for it to run. Eth has less liquidity, more users aka demand and they are trying to limit the supply. Am personally not buying ETH tho. Am buying to tokens that will 50-100x.
have you heard of the term "degenerate gambler?"
Bitcoin only I say. The other 20,000 are useless trash.
You ganna get outperformed again 🤣. WTF am tryin to help don’t you guys learn ?
You’re trolling right?
Do you live in a place where you need to track every transaction for tax purposes?
Not really if not at all
That makes it easier then, congrats!
As others have mentioned, maybe don’t go all in at once. Try a small amount to get the hang of it.
IMHO, invest in a hardware wallet if you plan on keeping your investment over the long term. You can maintain/manage your access to multiple types of coins with hardware wallets. There's a reason for the phrase, "not your keys, not your coins...". The top two hardware wallets are Ledger and Trezor. I have a Ledger Nano X because of more storage and it's easier for me to use. ALWAYS buy these directly from the vendor or a HIGHLY trusted source. NEVER buy a wallet that has been used at all or from a 3rd party. Everything should be sealed when you get it. NEVER EVER share your recovery phrase for the hardware wallet. Keep it written down in a safe somewhere along with your passcode to access the wallet. Storing the phrase and code on your computer can be costly if you ever get your computer hacked. There are some good Youtube videos that can tell you how to set up your hardware wallet.
I would buy crypto
And I would buy it directly from the CEO of crypto, cut out the middleman...
My advice would be pick an exchange like Gemini that you can buy and track your stuff on, get your feet wet. You can get a card to earn crypto on at the gas station etc which is fun. Buy $500 ETH and $500 BTC right now. It might go lower, might go higher so look up DCA. Lots of people recommend transferring to a cold wallet, like ledger. I’m still deciding if I’m going to cold storage, prbly will. But for now just get your feet wet. Buy a hundred a week of ETH or BTC, or split between both..or buy 20 a week, whatever you can afford and you’ll be fine
Edit: things. I’m new as well, just started this January which has been a good learning experience. Luckily I have been buying in small increments (not necessarily by choice lol). Do your own research, Like a lot
You should know that this path leads you to a scam. XD
You should not be asking for investment advice in this sub. This is a good place to talk about crypto but if you ask what to invest in people will just shill their bags.
I live by this
20% whatever, which currently for me is 15% Algo (and it’s ecosystem) and 4% Cosmo (and it’s ecosystem) and 1% Doge
I have switched this up at times holding more ETH, and at one point Cardano. But I dca every day with this allotment. Have a good job too for the first time.
By Algo I mean Algorand, and Cosmo, Cosmos
Start by playing around with like $10 , to get the feel of how it works. Lot of different wallets and coins and cryptos. Not all wallets can be used for all coins. Fucking confusing at first. Check out this YouTube. She explains wallets well but only the Coinbase wallet.
It really is confusing but im dedicating a lot of time for it and trying to learn everything i can because not only is it really profitable, but incredibly fascinating.
I have thought about a mere $10 investment however if I’m expecting profit or returns on my investment i doubt thats anything worth waiting for whereas i could invest $100 and see a return if it does work out.
Regardless I appreciate the input
Crypto is not automatically "incredibly profitable." A majority of crypto investors have lost money. Listen to the voices of caution. Start with a small amount, learn the ropes of managing it, then dollar cost average into higher levels of investment. This bear market isn't going away anytime soon. You have plenty of time.
ETA nothing in life is easy, least of all making money
I understand. I also learn better if I have some skin in the game.
Do like 200 bucks first. Youre likely to fuck up and lose it.
Fuck up as in lose it due to coins currently going down or due to simply not knowing much about the whole work
Kind of both. I would say if youre truly just starting stick to eth and btc just put a recurring purchase in weekly maybe 50 bucks each until your 2500 is done. Should take a little over half a year to get there. You (probably) wont lose money doing that.
I say youll likely lose it cuz you send your crypto to a wallet with the wrong token address and shit like that. It’s pretty complicated at the beginning no matter how many videos you watch. At least for me it was. Just be careful and make sure to read everything you are doing and follow all the steps, dont breeze over it like a license agreement. Write down what you bought at what price and everything for keeping track and taxes. Do it from the beginning or you can get confused quickly.
You wont be buying at the bottom and you wont be selling at the top. Just realize that now
Other than eth and btc, i got a bunch of people recommending other coins such as cardano and a bunch of others. Is it wise to invest a tiny amount in those as well or stick to what everyone trusts?
Btc and Eth are incredibly cheap and will survive the bear market, but everything is still going to go down further and some alts will die (not facts, just from my research we still got a ways to go and many alts never survive the bear. Thursday america has another meeting this time about core inflation and i doubt it will go well, i dont think prices are factored in yet and next month they will raise interest another 50-75 basis points)
The alts have a long ways left to tank in my opinion, and i have a lot of money in alts i dont want to be right about that so just know im not biased on that lol.
This is why i say recurring payments about 50 bucks each a week. Thats 25 weeks of time in the market, if we go down youll catch the trend every week if we go up then youre making money every week. Not as much as a lump sum but safer “hedging” both sides.
Buying btc and eth at these prices… youre really lucky to get in right now because 3 months ago people were excited buying at 40k btc and 2.8k eth. It likely will go even lower because the macro economics say we havent reached a bottom yet, you will catch that with recurring. Or you can try dumping 1k on each at a price you like if you see a significant dip and then dollar cost average the 500 or throw them on some alts that likely also tanked at that point.
Point is my man, you got a shit ton of ways to go about this. Check your risk level and see what youre comfortable with and strategize from there.
Sorry if i rambled a lot there i kind of just let my stream of consciousness take over there
THIS IS NOT FINANCIAL ADVICE I AM AN APE THAT LEARNED HOW TO TYPE MOMENTS AGO DO NOT MAKE DECISIONS BASED ON ANYTHING I SAY OR DO I AM DUMB AND A DEGENERATE
It's tempting to chase after altcoins (things that aren't bitcoin or ether). But just starting, you can't go wrong focusing on the big two. You are getting in at a great time; everything is cheap and getting cheaper by the minute.
Load up on Bitcoin and Ether. This will give you peace of mind while you do research and start to venture into the riskier waters of altcoins.
Not worth it.
Shitcoins exist to enrich themselves with the Bitcoin you could have bought.
Bitcoin is king.
It's a gamble - so you can just ask yourself: "Am I good throwing this money on red or black at the roulette table and losing it?".
Like someone else posted, start with a small amount...get used to the space becuse there are so many factors involved and it is easy to lose money if you don't know what you're doing. Even just through fees alone, you could see the 2500 drop to 0 just from not knowing how things "work".
In fact, don't even use real money at first...just keep an imaginary stack of money on paper and record your trades and fees on paper and see where you end up. Get comfortable with crypto before you throw actual money at it.
Full send bitcoin man.
Keep on exchanges till you learn more and want to go to cold storage.
Kraken or Coinbase would be my picks.
I am fairly new too. I treat it like a 401k type of fund. I Just put in $100 to $200 each pay day.
How do you go about purchasing the coins and what wallet do you use?
Ofc if you’re ok with answering?
I use Binance on my phone. It has a light version and a pro. Switch. You may get lost in the pro version. Lite is easy but you can switch back and forth. In any case you have to go through an rigorous authentication process. You can give your bank account so that you withdraw crypto out and I buy with a debit or credit card. There’s an inbuilt wallet (custodial i.e therefore the exchange is in charge like a bank account). I also have non custodial wallets Exodus seems easy and gemini ( you can also buy crypto in some of these wallets). To learn to transfer you should always use a small transfer like $10, just to make sure you know what you are doing. Transferring crypto between wallets requires an address which is in the wallet ( you can copy and paste) and choosing the correct crypto network like ethereum ( different crypto use different networks). Don’t get this wrong. You’ll learn as you go, theres alot on youtube. So far I haven’t messed anything up and I’m only 2 months into this. Good time as crypto is low. Theres some promising projects out there. Some will take off. Think of facebook and Amazon 20 years ago.
If you can afford to lose that amount, sure. Look into the differences between hot and cold wallets, etc
Just dont leverage trade, i was hodling and dcaing for more than a year, then i found leverage trading, tried it with 30$, i made 1500$, after that i lost them+ all my coins + my bank money,
But it is what it is, we learn till we are alive
Start with the most established cryptos: BTC and ETH. I recommend putting at least 50% of your $2500 there. After that, I'd consider picking from the top 50 after doing your own research. I'm personally bullish about ADA, Algo and VET but it's up to you as to what you choose. If you want to be extra safe, stick with BTC and ETH only.
Note: I am not a financial advisor and this is just my opinion.
And yes, beware if scammers and DYOR.
Good luck! 😎
If you want to turn your $2500 into $500, then go for it. If not, wait awhile
Yes, go all in.
I agree. Doing that w ETH in 2020 paid off my condo…
If u bout this life man look into coins u like and take ur opinion of the market right now. Ppl r gonna tell u all sorts of things but in the end u are just investing in volatile assets.
Just avoid CumRocketShiba8000 coin 🤪
Do your own research on btc. Don't buy any other shitcoin exept a little bit of Doge for the Meme.
Please the tesla overlords yes
1. Invest in nothing until you spend the time to learn.
2. Don’t take advice from anyone on here, probably including me
3. Invest your time learning and understanding bitcoin. Read the bitcoin standard and the fiat standard.
4. Come up with an investment plan, like timeline, etc.
5. Eventually, buy bitcoin and forget the other 20,000 coins ever existed
Invest all you can lose.
One wallet - one life.
I assume you’re being sarcastic because with many of my coworkers they have all started off with low amounts and have gotten lucky with how much they’ve made in the long run
What counts as a 'low amount' varies depending on geographical location and person.
Completely valid. I assume their ‘low amount’ is no less than $100 and i can very much start off with that. I have severe paranoia of messing up something at some point and pretty much losing all of my money, but of there isn’t that big of a risk then putting in all of the money is fine i assume
You will lose and you will win.
Invest what you are willing to lose. If it goes well, enjoy, if not, try again when you have money to lose
Doubled my money in a money, got emotionally involved and lost 90% of it by making mistakes.
This is why he said "Invest what you are ready to lose"
you want to lose 2500 go for it!! right now is not the best time to get in hell.
DCA in Cardano. Try it with 100$, start staking, swapping, buy NFT’s.
Just BTC or these three: BTC, ETH and ADA
Buy 2 eth then put the change in btc.
save half for emergencies. put 25 percent in bitcoin and 25 percent in etherum
Set up a Coinbase, Kraken or Binance account. One wallet, just buy and hold for at least 3 years. Stick with BTC or ETH (prefer the latter due to higher upside).
If you’re interested in starting in crypto then yes you absolutely should. However, approach it this way: $500 invested every month for the next 5 months
This way if the crypto market dumps further in the next few months (likely possibility) you’ll be less emotionally inclined to quit crypto and sell your holdings at a loss.
If you're a beginner you should only invest in Bitcoin... same goes for a n intermediate or advanced investor. You'll save yourself a lot of headache and heartache.
If you’re putting $2500 in. I’d recommend no more than half at once, DCA the rest. Split between at least 3-5 coins. Do your research. BTC is always a safe bet as is ETH. The other 1-3 coins can be whatever you choose but do research. Accept that you’ve already lost that $2500 (even if you don’t) don’t use leverage. Buy coins and hold. don’t sell if it drops more. Just ride it out. Might take a couple years to make money or maybe it’s all a scam who knows. Only time will tell. Good luck!
Diving in and making mistakes is the best way to learn in crypto. I would suggest only investing the amount youre willing to lose until you get more comfortable.
Please don’t buy all at once, dollar cost average
Research and pick an exchange and try out their services by to make sure everything runs smoothly before getting too deep.
At least wait until July 15th before making any significant spending/allocation decisions.
My advice? Whatever you buy take like $100 of it for educational purposes. Learn how to buy. Move it around between exchanges/wallets. Use it as a learning tool. If you make a mistake and lose some in a transfer? No big deal.
Don't you lose too much in fees doing this? I guess therein lies the lesson....
Congrats on your job. Fund your tax advantaged retirement accounts first before you set aside play money, if applicable where you live.
here are some option
* DCA ( USING 3COMMAS OR SIMILAR ) ( SHRIMPY )
* DEFI ( STAKING OR OTHER PROTOCALS )
* OR BE BORING AND JUST INVEST INTO BTC AND ETH
Invest in slowly to prevent large losses with quick swings
Buy one ETH and shoot a couple bucks at ckb or lrc, save the rest for the big dip
Dude, $2500 is nothing to some people and a hell of a lot to others. I have no idea how much money that is to you, nor do I care. Likewise, you shouldn’t care what any of us say in response to such a ridiculous question.
Regarding your second question, it depends on the type of wallet. If it’s a hardware wallet, keep it all in there because no need to purchase multiple. If it’s a software or hot wallet, don’t use it if $2500 is a lot to you.
Do some research.
Think of it as a savings plan. You can lump sum but will probably have better results if you dollar cost average over time. ($2-10/day or $20-100/week until you've spent all the 2500) [http://www.swanbitcoin.com](http://www.swanbitcoin.com)
Self-custody. Buy a hardware wallet & withdraw your bitcoin from exchanges. [http://www.coinkite.com](http://www.coinkite.com) has several options an MK3 will be sufficient.
Be prepared to hold for 5-10 years.
DCA slowly into BTC and Eth. Research some coins in the top 20 and see which projects you think could be important in the future.
60%BTC 30%ETH 10% Others
Set a certain day of each month or week and buy a set amount each time stick to this and it's good.
Investment into a hardware wallet. I would suggest Ledger.
You want to research some coins in the top 20 I would suggest ADA AVAX and DOT as starters.
Just buy Bitcoin.
If you want to do this, do 1500$ into BTC, 500$ into Eth or other top 10-20 projects.
Then go wild with the 500$ on out of the top 100 projects
The main question you need to ask yourself is...
Can I afford to lose $2500?
If yes, then invest. If not, invest something you're more comfortable never seeing again. In terms of what currency, start BTC & ETH. Delve into the Alts once you're more comfortable and have found your crypto legs.
One tax expert I watch on YouTube showed that with each ATH, BTC would drop by 80% and then rebound. The last ATH was $67k, so an 80% decline would put it around $13k. My guess is that would be the bottom of the market and there are those who predict cryptos will go to zero. I doubt that and I believe that only BTC and ETH are solid long term bets. Do your research and follow your gut. Don't answer any spam emails for investments.
If you have $2500 to invest (which is to say if it turned to $0 you’d be okay), then yes invest it into BTC and ETH.
We’re in a bear market so an alt even with good fundamentals might fail.
Personally I’d go $1500 ETH 1k BTC with $2500 atm, but any combination into the big two will pay off handsomely during the next bull.
$2500 is way too much. Spend $300 on the top 3 coins, $100 each. Check back next week. It looks like the crypto market is following the economy. As long as that's the case, the economy is gonna slump for the next couple years. Don't blow your bankroll in the first day.
I'd hold off. We have another big dip coming. I plan on buying after the next big dip this winter
Create 25 diff wallets
Buy ETH. Trust me, you’ll do extremely well!!! GLTA!!! Disclaimer: Past performance is not indicative of future results, and invest an amount you can afford to lose completely.
I invest 3% of my net worth into crypto and balance as necessary. It is still a massively risky asset. Based on this you should have around 100k invested to be risking this much. Since you are young you could increase that percentage, but I wouldn’t go any higher than 10% of net worth.
You sound like my girlfriend.
I would look into LTC If I was you! It’s not going to make you rich but it will make you a nice chunk of change when bitcoin goes back up!!!! It’s been around forever
That's a large investment. I invested $700 and lost $250 in one week. Be careful. You can lose your money very quickly.
Please put your (or your family’s) hard earned money to good use. Buy S&P 500 or Nasdaq assuming you are America.
Only if you want to start investing by losing a big chunk of your investment.
Oh, haven't seen one of these in a while. Quick: "shiller team, assemble!"
Use hardware wallet. One is fine. DCA in. Don't spend it all at once. Keep cash on the side always for the once in a blue moon type catastrophic crashes.
So many good and bad advices posted. It must be hard for you to grasp your head around it.
IMO. You should invest it all in BTC(you can't go wrong with btc) until you research and truly understand other cryptos and then DCA in Bitcoin or altcoins as you wish.
Hold for at least 3-10 years.
Don't keep your bitcoin on Exchange but if I had to chose one it would be Binance.
Learn to own your keys (extremely important) not your keys not your crypto.
if you give it to me i'll invest it for you, I turned 1000 into 300k I just forgot to screenshot it
This may be a hot take, but depending on where you are and your electricity costs, I'd say build an OP PC that can mine, or a rig (discounts abound!). I did this in 2020. Sure I didn't maximize my gains, as I only played with what I mined, but I did make a decent amount of coins and I have 0 loss because I still have my PC. I guess I have asset depreciation with the hardware when another generation comes along, but with supply chains and the tech industry the way it is, I doubt I'll have that much loss in the near term. Plus I have a ton of compute I could aim at anything (MM, Folding, encoding, etc.) One could say you can go out and buy yourself some fish, or you can teach yourself to fish... Just another angle to think about how to put your money to work while minimizing risk.
You’re better off losing money with options trading buddy
Besides all the helpful comments already mentioned, OP should open your vault for them moons
BTC, ETH, DOT. . DCA and call it a day homie.
Don't rely on this subreddit for advice. It's full of people that don't know what they're talking about.
Two words SANSHU INU
DCA is the wise move. But with $2500 personally I’d be looking to pick up 100% ETH in 2023. Make it a 5-10yr game plan. Take profits.
Source: I started in 2020 and didn’t take any profits.
do some research about market first then decide later, know the way you want to invest, its hard to tell in detail but now is not the good time for any holding decision in both stock or crypto
Honestly, I think any time is as good or as bad as another time. If it's your first time investing you will see your portfolio go up and down. especially down. and it will happen more than once.
Can you afford to lose 2.5k? if so, have fun.
in my opinion: if you want to start investing in crypto stick to big exchanges and beware of scammers.
It's a good idea to average the buying cost. a lot of people mentioned DCA. Read into that. And if you are really just starting out stick to well known coins. if you want to gamble a bit feel free to throw a small amount (max 5% of your investment) into shit-coins.
If you feel really fancy get yourself a hardware wallet (like ledger) first and own the crypto you buy. And for any hardware wallet there's one rule: Only buy from the official website and never buy them used or with a 3rd party seller!
No wait until it it goes up about 200% and then buy in. I’m kidding. I’ve lost about 135% waiting for the rock bottom. And will start buying in. Maybe 3-4 weeks.
Read a lot before committing large amounts. Stuff you should want to learn beforehand:
1. Self-custody: how to keep your coins safe? Common newbie mistakes? Common fishing scams?
2. Best exchange for your case: best fiat ramp, i.e. easy deposit and withdrawals; lowest fees, what is spread? Due diligence: is it reliable? Other users feedback? Too many people complaining about scams?
3. General internet security: always use bookmarks. Never click on Google ads, two-factor Authenticator… it should go without saying but no porn or piracy in the same computer you use for crypto.
4. What is Bitcoin? What problem does it solve why does it solve? Strengths and weaknesses…
5. Alt coins: how to distinguish between alt coin, shitcoin, meme coin, and scam coins. Use same approach as for Bitcoin. Always be critical. Don’t take others opinions for granted.
6. Invest with your brain not with your heart your your guts. Learn what is FOMO and FUD and how to avoid falling victim of it.
7. Dip your toes and see what it feels like.
You can diversify your investment into multiple coins, in one wallet, but it should be a non custodian wallet, and when buying I recommend using instant swap platforms like Simpleswap that doesn't have access to your wallet.
Btc/Eth/ and any one of the following aave, ftm, near, matic.
The last group will have higher upside skew, but also higher volatility, you want to roll those profits into BTC and ETH
At this moment I would only buy bitcoin or ethereum.
Invest in solid coins, dont follow advice from 99% youtubers / online promotors, most of them are trying to get their followers to buy the coin so price increases and then they sell theirs. This tends to happen with moon coins that will get you "rich". A lot of smaller coins tend to be rug pulls. If you are going to invest in small coins you need to constantly follow news on it otherwise you will lose money most likely. As other people have suggested, invest in solid coins like ETH and BTC. Store your coins in a cold wallet and only invest £2,500 with it in mind that you have just lost that £2,500 (assume the worst and hopefully something better will happen!). Theres a few good advice videos from youtuber cryptocasey and coinbureau on how to set yourself up.
If you need to ask this question to strangers on reddit, my opinion is you should just save your money in a savings account. You need to have your own reason to invest or you won't have conviction in your investment and only you understand your risk tolerance.
Consider that money as an investment in your crypto education. There are lots of different approaches to investing and you’ll need to find the one that suits you best. The worst thing would be to throw it all in now as you’ll then not have anything to work with as you learn more.
Find a way to keep track of your portfolio. Find where you will hold your investment (not on the exchange), have a goal in mind of what you want to achieve and over what timescale. The market is going nowhere so you have plenty of time to learn what you are doing, play with some smaller amounts, make some mistakes.
I would do some research and split it up between 2 or 3 different coins and then just watch and learn. I like Digital Asset News on YouTube quite a bit as he is pretty level headed and not to much of a shill and takes things from more of a long term investing approach. If you check out their website they have a free course on crypto investing that is pretty good. But it is a bit dated at this point.
It might even be a good idea just to transfer in $50 to a couple different exchanges so you can get used to how wallets and exchanges work. There is definitely a lot to learn and you'll get out of it what you put in to it.
$2500 is a decent sum of money for most people, but not enough that you're going to lose your house or anything crazy. Don't be an idiot with it, but don't be too afraid either.
just buy ETH till 2024 years of May and dont worry
Dump it. DCA only works for a bull market. These are all time lows sure it might go down a bit more but you’ll be set if you go all in and come back in 5 years
You should. Just not yet. Give it six months to a year.
Don’t buy BTC it’s a trash investment for ROI. You take profits into Bitcoin. Eth is a good buy let’s say you wait 3 years and you 5x your money lol. Still a terrible ROI but it’s better then btc.
You don't know that.
No crypto is gambling not an investment
It’s all a scam, just buy an index fund. Or, if you want to lose all your money, go to Vegas and have fun losing it.
Very relevant. I’m trying to stop this poor guy from losing all his money.
“You’re a moron”. Great argument in favor of investing in crypto.
Here’s my counter argument. All of crypto is a negative sum game, we are all late to the party, and at this point all any late investor is doing is helping an early investor cash out.