I just opened my eyes to Bitcoin mining, I save up 80$ every month and was thinking maybe investing them in bitcoins wouldn't be that bad an idea? Whats your thoughts on this, what should a first timer know?
If your savings are $80 per month, my advice is consider investing some (if not all) of it in a riskier investment such as an ICO. Do your research and pick at least one to put some money into. You have the opportunity to do well in the ICO and can get a solid 'chunk' of coin to do some more serious investments if even one of the ICOs does well.
I cant really deny that ICO investment can really give you out the chance to make some solid chunks but choosing up the opportunity wont really be that easy since this would be most likely
similar on gambling coz no matter how you research there wont really be no assurance on what you have chosen.
Do you have some link of them?
You can search up projects on this board
https://bitcointalk.org/index.php?board=159.0i wouldnt suggest ico's at all due to the reason that most of them are purely frauds . they will only collect the money from the public and will run away pretty easy .
@op not bad for a first timer . congrats because you manage to earn on mining , i really thought mining is only a waste of time but you prove us wrong . anyway , if you feel that mining can give you a good stable income , then you can just continue doing it . dont ever risk your profit from unsure investments like ico's or even on cryptos .
If that $80 is just a save up for a small partition of profits on monthly basis then we can say it is indeed profitable but if you do talk about earning $80 on OP's side deducted on the expenses then i would say hes just wasting his own time.
Im not literally advising to invest on ICO since we know the chance of profitability or success but still anyone can took up the risk if they liked to.Lets say we arent sure on such decision and we dont have much idea on what to do then its better to save up those coins instead of risking it out on things which you arent even sure on what to do.