Post
Topic
Board Speculation (Altcoins)
Re: How to start investing with 1$?
by
Gantzer
on 04/11/2017, 18:01:16 UTC
So here I am with about 1.5$ in my poloniex account today. What advice would you give me to make this 1.5$ into 150$ by the end of next year that is 2018?

Anyplace I could get to know about pump n dumps before they happen? Any particular cheap crypto that I should hold onto?
It's really not easy to make money with such small amounts, because of fees.
Your only chance is probably on the altcoin market. But it's useless to buy such small amounts of altcoins and wait for increase. So first of all you need to increase your investment amount through day trading (traditional buy low, sell high).
If you you reach 10-15$ in total, you can start arbitrage trading, which means you buy low at a certain exchange (e.g. Poloniex) and sell higher at another exchange (e.g. Bittrex). Unfortunately you can't do this with small amounts, because of fees. And even with 10-15$ you should only use altcoins with very low transaction fees (e.g. Verge).
If you reach 100$ you can start investing in promising new altcoins and maybe ICOs.
But to multiply your money by ten only through day trading on a single exchange, is really hard.
I recommend you to start with 10$, otherwise your experiment may be over soon.

BTW: Please stop offending him for asking this question. You don't know his private situation and he said it's just an experiment.

Hi,

If you decide to do this you could try using Radar Relay instead of Poloniex for this month as it has zero fees for November.

https://medium.com/@RadarRelay/radar-beta-update-9d690c799b0d

This could possibly help you somewhat towards your goal.