Hey,
Looking to get some ideas from people so let me begin by explaining my situation:
- I initially invested around $3000 just over a year ago in crypto, which is now currently worth about $1000 (2/3rd loss). I've written this off/left it and am a firm believer the market will one day recover, be it short or long term.
- I then stopped investing early this year.
- I now have opportunity to save/invest $1000 each month (after all my bills and everything are paid for).
- I have $5000 saved in cash as emergency in case I need it.
How would you invest the $1000? Or would you just save it all, or only invest a bit of it each month based on market behaviour? What coins are good to look into investing slowly, with the belief they'll give the best returns if the market properly goes into a bull run?
I would be suggesting that you diversify your investments by considering other investing methods present (bank notes, stocks, cryptocurrencies). By this way, you may be able to minimize your chances of loss by the end of the investment period. Another thing, index stock funds are an alternative if you are relatively new to stocks since it follows blue-chip companies price. Categorize each of your investment whether for short or long-term.
$1000 for a common user is not a simple thing, it is a big amount for a common man in a third world country. Regular spending as investment for a longer time period needs to give long term promised profit. For this bitcoin, ethereum and top listed altcoins were the best pick. In between one can prefer investing into ico's that has got good future to get good returns in short term.
With the popularity of ICOs being tarnished by recent scams and shenanigans, I do not suggest in investing into such. Given the returns are relatively low plus the chance of losing your investment completely, the risk definitely outweighs the reward from this point.