I suggest you to look for undervalued potential altcoins that will give you 2 to 10 times profit. It is risky yes so you need to do a deep research about the alts you want to invest in. Try to start with PRiVCY, this was currently undervalued, has good community and currently having their airdrop so you could have free coins aside from investing portion of your 500$. Try to search the website and do self analyzation.