I am 37, been in Veeky Forums for quite some time and I just want to thank the community for introducing me in the crypto sphere. I am pretty conservative in my investments. Started with 20.000 (AUS) a year ago investing in ETH, XRP, GNT, LTC, ETC, BTC, STEEM, ICN & BCAP and I have gains so far that reach 100K. I don't trade at all. I just HODLed the entire time.
This is my advice for anyone in cryptos. Pick the top 10 currencies and spread your investment. You can't lose. Don't buy into the shitcoins and the pump and dump shilling. Research ico's, invest some, and just sit on it.
I'm too lazy to check, but what's the average growth of a coin split by your portfolio?
Congratulations on being able to hold into your investments.
Adrian Allen
Well done man.
That said, if you actually want to get rich, you really have to invest in promising penny cryptos and buy a lot of them. Even if they only hit a dollar, you'll be a millionaire overnight.
Joseph Roberts
congrats OP
but what are the top 10 currencies right now?
Evan Wood
I see this as a lottery. Way too much risk.
I basically tripled my money just by sitting on it. Most of my investment though were in ETH and ICN.
ps: ICN is the shit. They basically hedgefund for you. You will be getting dividends and everything. I would recommend it for anyone that doesn't like much risk.
indeed but even if it corrects somewhere it won't correct in all. Cryptos is a new market, just started. You can't go wrong if you hodl long term. I can afford a 50% deep and i will be ok.
Cameron Butler
Protip: Token+Æternity are the only good ones. Source: I read about all of them, and most are shitty chinese scams with fancy graphic design.
Nolan Murphy
That is really good advice. I would have most in bitcoin and Ethereum. Long hold is the easy simple strategy that works with crypto. Rake ten percent when you hit an all time high.
Adam Gomez
Congrats. I use the same spread hold strategy. I make a buy onve every 2 to 3 weeks at most.
Liam Sanders
Whats the best place for a burger to buy multiple cryptos like this? I just signed up for coinbase but it only has BTC and ETH
Christopher Kelly
COMPLETE NEWFAG HERE
just bought some ETH and BTC on coinbase. Now what? how do i trade it? how do i buy other coins?
Noah Hughes
Once you have some BTC, you can send it to Bittrex or another exchange site by transferring BTC to your exchange wallet. Then you can trade your BTC for other cryptos. Different exchanges will have different coins available for trading.
Coinmarketcap is a useful site. By checking the markets tab you can see what sites are trading a particular crypto.
Kayden Mitchell
so my coinbase wallet is different from my exchange wallet?
Easton Ross
I use Kraken and Poloniex. They usually only put the ones that are worthwhile
Matthew Cooper
yes. use the addresses that are generated in the exchanges to transfer from one to the other. it is pretty easy. plenty of youtube videos. it is only 2-3 steps.
Lucas Morales
is it free to transfer?
Michael Harris
There's a small fee.
Cameron Russell
Why can't I do both? Crypto is pretty fucking risky compared to "playing with stocks", especially when you aren't playing but actually know wtf you are doing, something that is nigh impossible to do with crypto due to its volatile nature.
Nicholas Cook
Thanks for all the info on this user! Thanks to Veeky Forums I was able to buy 100 ETH when it was under $20 on Coinbase. I am happy right now. I want to do more like what OP said. I signed up for Kraken and Poleneix today. A few questions:
1. I will buy ETH on Kraken with USD and then exchange it for ICN and other coins. Is this a good way to do it?
2. What is the end result here? I understand you hold for now, but what happens when you are ready to cash in? Do you just exchange it back to ETH and then USD and withdraw or am I missing something here?
Thanks!
Ayden Gutierrez
1. Yes.
2. I am not cashing in on ICN because it will be hedge fund for the whole cryosphere. In comparison with the FIAT world this is like owning stocks of the NASDAQ exchange. You are literally a bookie stock holder. Bookies never lose. The only way ICN goes down is if the crypto world goes extinct - and this will never happen. cryptos are here to stay.
Andrew Evans
can you give me a few sentence rundown about the buyback and burn ICN thing? i hold ICN on an exchange, but how does it make money except for a rising price?
i will look into it more tomorrow, but it's late and i'm going to bed in a minute.
Alexander Martin
Any anons feeling generous? Poor college student here, living with 200$ a month and I can't afford investing in crypto
Jaxson Walker
just sent 1 eth to the address you posted. Enjoy :^)
Lucas Campbell
Basically, they take the tokens of people selling and destroying them, thus increasing the future value of each token.
Your tokens won't make much as of now. Wait until Q4 when the platform launces for good and then you can put your INC in different funds like ICNP and INCX.
Don't worry about it too much. Just buy as much as you can right now and HODL. Everyone will be talking about it by the end of the year.
Juan Gonzalez
If you can't afford to invest don't do it
Hudson Foster
There are others that do the same thing or similar. One pays out in ETH. There a more cropping up so there will be more opportunities
William Anderson
Yeah, go outside and hang out next to the ATM machine with a plastic cup and say "spare change" to everyone. I'll be right there to give you some money.
Daniel Baker
what sort of returns are you seeing from ICN?
Owen Edwards
How is it risky? Most coins that aren't memes eventually seem to rise (yes, including POSW. H-h-hopefully), the market looks extremely bullish.
Robert Myers
my investment almost trippled since the ico. no further returns until the index funds are build.
Jason Garcia
I appreciate your insight user! One last thing. I am still learning all of this. Lets say that I have $2,000 USD I would like to invest in crypto. How would you distribute that into the different currencies and create a portfolio?
Kayden Adams
Sent ;)
Jaxon Murphy
Anyone interested in Ripple?
Michael Cruz
Where exactly do I buy this?
Alexander Foster
30% ethereum 30% iconomi 20% ripple
and then rest spread among the top 10 from this list
You can buy iconomi from Kraken.com . If you want the easy way, open an account in coinbase, purchase some ETH or BTC with your credit card and the transfer them to kraken in order to buy iconomi.
Levi Ortiz
>tfw when I become financially able to invest the crypto coin bubble will finally slow down
Juan Hernandez
Newfag here... why does Yobit have ICN at only 150 sats where all the other exchanges are at around 36k?
Mason Rogers
it is not the same thing
Andrew Sullivan
I have a question. My current cryptocurrency picks are Augur, Monero, ETH and Ripple (haven't bought yet). They all appear to be solid players but the problem is, they have risen too much recently lol. They are at a high.
Is it even reasonable to buy it now? Also, conversely, ICN looks like it's in a good place to buy, plus it's fairly cheap.