I really believe cryptocurrencies. I invested in poloniex ( 3 K usd) made some profit but losing some money for 2-3 weeks.
I just made 4 rigs ( 4 gpus each) to mine altcoins. Recently i am mining ETH with 300 Hashrate.
And additionally i got 6.5 K usd to invest. And i am really confused.
My first choice would be to use money directly to invest in new coins that generates with itself more by holding them ( like XEM)
But i do not know what are these coins available to invest in this manner.
Or i could go all in cloudmining - buying litecoin contracts?
Or i can use poloniex to buy low sell high strategy.
Can you please give any suggestions?
Bitcoin, Monero, Ethereum are three of the well knowns that have been around for awhile that have things going on. You could also make the argument for litecoin I guess (but I'm not going to).
I'm not advocating any of them. Bitcoin & Monero generally avoid the "scam" label. Ethereum is more controversial but arguably has more utility.
What you need to understand about the altcoin marketplace is that it's about dumping on noobs. So you buy a super low prices, get people excited about a project then the holders dump on noobs. It's been going on since the inception of alts.
If you must invest I'd probably put most of it in known semi legit options by whatever terms you decide on that have been around for awhile. And if you insist on joining the "dump on the noobs" arena do it with a fraction of your capitol.
Also understand you're buying into a bull market. Most alts have gone up at LEAST 10X in the last 12 months. Bitcoin has gone up 10X in the last 24 months. ICOs have become a mania.
10K bitcoin or $900 bitcoin by the end of the year wouldn't surprise me.