Post
Topic
Board Altcoin Discussion
Re: I need help, actually a little guidance.
by
CammBamm
on 03/12/2018, 12:00:53 UTC
With there being so many options out there for obtaining cryptocurrency what do you think is the best? Would it be Cloud mining, trading with your own money, just buying and holding, spending the 2,000 plus dollars and buying a mining rig, I'm completely ignorant when it comes to these things and would love to know some insight from people who deal with this constantly. Thank you very much

Just within your opening question, every single one of those methods can make you money.

They can also LOSE you money!

So much of it depends on your skill set, your understanding of each method, your time frame and also financial goals.

It also depends on how much time and effort you want to put in learning and understanding, as well as actually getting in and doing the work.

Also if you plan on being a HODLR, do you have the nerve and patience for it? Will you succumb to the ups and downs of the market and buy/sell/hold at the wrong times?

As others have said, if you plan on going the mining route, what are the power costs you will have to deal with, even the temperature of your area? Will you be able to stand the noise? What contacts do you have?

These are just the tip of the iceberg when it comes to some of the questions you have to ask yourself. My advice is to research them all thoroughly and choose one that you feel the most passionate about!