Hi Guys
I am looking at investing for the first time, I currently use Blockchain as my wallet and Cryptopia for trading, would people say these two are okay to use?
Firstly, I will be looking at investing £1,000 on Bitcoin and then go for the long-held option, most likely for the next 2-3 years, whilst keeping an eye out for spikes in value to sell say 40% at any given time during a spike.
I would like to keep 60% of the remaining value to (hopefully) climb, whilst also possibly spending 15% on alternative currencies e.g. Ripple.
As of now Bitcoin looks to be at a high value and I am waiting for a dip to buy mine, would you say this is a wise move, as I need to buy Bitcoin before looking at buying alt coins.
Any info would be great, thanks.
I am looking at investing for the first time, I currently use Blockchain as my wallet and Cryptopia for trading, would people say these two are okay to use?
Firstly, I will be looking at investing £1,000 on Bitcoin and then go for the long-held option, most likely for the next 2-3 years, whilst keeping an eye out for spikes in value to sell say 40% at any given time during a spike.
I would like to keep 60% of the remaining value to (hopefully) climb, whilst also possibly spending 15% on alternative currencies e.g. Ripple.
As of now Bitcoin looks to be at a high value and I am waiting for a dip to buy mine, would you say this is a wise move, as I need to buy Bitcoin before looking at buying alt coins.
Any info would be great, thanks.
Hi!
Firstly, you should understand very clearly that ANY investment in cryptocurrencies is a very risky thing and you should be ready to lose everything at any moment. Move forward only if you are ok with this.
As for your investing strategy - it seems fine, you can search for other "standard strategies" like 1/3, 1/3, 1/3 or something. I think that most of the users here are bitcoin enthusiasts and believe that BTC will grow and hodl© is the best strategy.
As for ALTS - you go your way, but it might be interesting for you to test micro-investments in a pool of different coins if you are looking for "serious" speculative profit. One team in Russia does an experiment with investing $10 a day in different cryptos (including BTC), they went >60 days and are at 150%+ right now. It's a small risk that helps you to research more about cryptos and potentially get some outstanding results.
Anyhow, this message might seem strange from a guy with zero posts, but everyone should start with something
Please, consider that my own experience in crypto-investing is quite small and counts 8-10 coins and 2 ICO participation with total value of ~0,7 BTC (~$10.000).