You should look at volume and market cap. High-market cap, high-volume coins are low-risk, but have less room for growth. Low-market cap coins are riskier, but they are way more likely to go up 100-300% in a single day. You can either try to understand the tech behind them to determine if they're undervalued, or you can just listen to the shills all over Veeky Forums who have been making pretty good picks this past week.
Testing the waters with $20 is fine, $50 might be better though since you pay a transfer fee when transferring your bitcoin to one of the exchanges.
If you want relative safety or you have savings, you can put it into bitcoin or ethereum and get gains.
Test it out first to get used to it. Keep in mind it can go down so don't put your last rent money in.
download the app blockfolio and watch the different coins. Once you invest you track your investments there but it is useful for getting a feel.
Asher Wilson
>do i need a large initial investment or can i test the waters with something like $20 before spending too much?
You can start small
>where can i go to monitor different cryptocurrency values?
coinmarketcap.com
Cameron King
1. Mining takes alot of time and resources and is not worth it if you don't know exactly what you are doing and invest alot of time into alternative coins.
2. What Veeky Forums shills, trends, developer activity, roadmaps, look and see if it's actually a logical nice way to utilize cryptocurrencies in real world application, if it has good corporate backings, partnerships, etc. This is where it can go up and down and where you take the risks.
3. I started with 10 bucks and made it into 100 bucks in 3 days and then invested it into even more. You can start low and slow but it will also be a slow rise and you may miss out on good gains. Again its up to you and what risk you wanna take.
4. You can use the exchange of your choice to view the current trends and values. There are also other websites (just google it) but they are usually the samequality. Poloniex and Bittrex (I use bittrex) seem to be the two favorites here. There are also mobile apps such as Blockfolio that is completely manual and standalone tracking where you enter your stats manually. It's nice for following coins you just wanna watch and coins you have many thousands invested in.
Good luck.
Landon King
Just buy BTC at Coinbase and register at Bittrex and send your BTC to it and buy some crypto.
DGB BTC ETH XRP all great coins to start with.
Samuel Green
On May 4 I started with $200(.12 BTC). Today is what? The 21st? This is what I'm at now. I cry when I think about some of the trades I missed out on. I held 145,000 DGB at one point. I would've had $3000 by now.
Grayson Green
Here's the chart that proves it. Ignore the very beginning I don't know why it said I started with that much.
Chase Nelson
You are about to miss DGB. Once it passes 1k it's going to be something like this: >monday correction to 700-800 sat >weekend explosion to 1600 sat >another explosion to 3000sat >correction to ~2500 sat >explosion to 6k sat >slight correction >warping out our known universe into 12k sat >meeting God at 1$ Don't miss it.
Xavier Hall
generally holding for a 50-100% increase is fine for any coin.
You might have to wait a few days, like I've been on this one coin for 4 fucking days now and it should blow up today
Hunter Fisher
Oh god I hope Veeky Forums dosent become mainstream, then I will lose out on all of our sick gains from normies coming in.
William Bennett
Actually normies could make us become rich, we just have to dump in the right time.
Brody Barnes
is the coin RADS
because that's my exact story with RADS and I've been waiting for this bitch like an alarm clock when you're only sorta asleep and you know it's about time to wake up
Nathaniel Howard
>is mining worth it or is it just a meme? I mine, but its really a hobby and can be a pain in the ass if you're not fairly dedicated and very good at ironing out annoying errors in some .bat file. Also I'm still yet to make back the money I invested in it (I am on track though) >what should i be looking for when picking a cryptocurrency to invest in? Depends what you're looking for. Nice, fairly stable returns are more common with currencies like ETH and BTC, but its still crypto, so set stop losses in case of a crash. If you want high potential return and low initial investment, looking into the cheap memecoins can be alright just by gauging interest in crypto circles, making sure the dev team is good, looking for novel elements to the crypto etc. However, memecoins frequently pump and dump, so maybe don't sit all your savings in one shitty altcoin. Diversify >do i need a large initial investment or can i test the waters with something like $20 before spending too much? Don't spend too much. You will lose money, guaranteed, on your first bit of trading. After a while, you'll probably get a better sense and begin to be more comfortable with risk and more money >where can i go to monitor different cryptocurrency values? I use cryptowatch.ch for charts, which is good because I trade on kraken, which is linked to it. Otherwise just use your exchange e.g. kraken, coinbase, poloniex, c-cex etc.
Eli Baker
Also, forgot to add, but really holding is a far better strategy than trading
Ethan Reyes
Only if you're retarded enough to not spot a prepump :)
Easton Thomas
No it's not. And that is because there are always crashes and dips.
Charles Powell
>the coinbase foesnt extend to your country Fuck my life
David Parker
So should should I be buying coins with £ (because im a britfag) and selling them for £ or should I be trading them around for different cryptos. So buy BTC as a base and then trade based off of that?
Lincoln Davis
Trade for different cryptos. Don't cash out unless you have no more money for food and bills left. There is zero incentive to cash out now when crypto will continue to rise over the next years.
Jack Reed
Kraken
This. Also if you can afford to, put money away each pay for Cryptos. The entire thing is going to go nuclear in a few years and you'll think back in your Lambo at all the money you spent and how fucking worth it it was
Eli Bennett
So as a follow up - Is it better to move all the money around or only some. As in move 100% from BTC to DGB to ETH to BTC etc or is that risky. Also which cryptos are usually the most "stable" for when I want to just hold stuff and not trade
Mason Stewart
Sure, but speaking as someone who knows basically fuck all, with OPs experience he's not going to be able to predict these crashes and dips, and being too weak handed means you lose out on gains and have to buy back in later. In more stable cryptocurrencies the crash always sets a higher baseline than the previous one, and as such these tend to set higher and higher peaks. Holding ensures you hit these peaks
Ryan Lopez
Same.
I'm 18 and have like 5k in savings, but I know mommy would get mad if I told her that I needed the bank details to buy virtual coins.
Is mining really that bad? What should I be looking into mining if I did start?
Zachary Robinson
Mining barely outpaces cost of electricity in developed countries, if at all, and that's only with specific coins. You don't necessarily need bank details to buy crypto. A credit card and providing your ID will let you buy stuff on Coinbase, although with low limits per week and relatively high fees. But a 3% fee doesn't mean much once you get 20% gains in a week. The best day to buy crypto was yesterday, the worst day will be tomorrow. Just get in as soon as you can.
Safe buys long-term: BTC, ETH. Relatively safe profitable buys mid-term: LTC, REP. Don't just buy one coin, diversify.
Owen Ramirez
Is BTC really a safe buy when it spiked this hard? I know it bounced back after a little correction but how will it maintain $2k+?
Also as a side note based on what he said about coinbase, I've been trying to add my credit card for days and I keep getting a CVN error. Plenty of other people have been posting here about the same thing so I assume the servers are fucked with adding credit cards right now. At the moment you probably have to add your bank information or drive to a bitcoin ATM and deposit your money there.
Dylan Adams
What is sat? I'm new to this, I want on the fucking bus.
Tyler Reed
where do you go to wallet these currencies that aren't BTC or ETH and how do you cash out to USD
Xavier Howard
You mean /r9k/ is a bunch of neets AND they're still nocoiners? Poor souls.
Landon Reed
sat is 0.00000001 of BTC value Make Kraken/Poloniex/Bittrex account
Josiah Murphy
satoshi. its like one unit of cryptocurrency.
so on bittrex when it says the price of RDD is 0.00000029 Bitcoin that's the same as 29 satoshis
Jaxson Jones
I made an account for Kraken and Bittrex which are getting verified, but aren't these exchanges. I want to buy into DGB & XRP and put them into a wallet not leave it in an exchange.
Jonathan Parker
You still don't have any money though.
Stop talking like a pro when your gains are that of a faggot.
