Can anyone answer a few questions about crypto? Total newbie here

Can anyone answer a few questions about crypto? Total newbie here.

Can you trade it/sell for real world currency or is it strictly for buying stuff online?

If you can sell it, how difficult is it to sell?

What's the minimum budget necessary to start buying and see good returns?

Is it a worthwhile long term strategy or daytrading only?

If there is long term result, what timeframe is it generally speaking?

What is the overall risk in investing into crypto compared to regular stock/whatever?

>you can
>very easy
>three giddy
>both
>I dunno how much time you got
>infinite risk

Op only you can decide your risk tolerance and investment timeline. If you want cookie cutter one size fits all advice you can go to /r/personal finance.

>helping brainlet normie scum

Yes you can easily convert it to and from fiat.

The budget all depends on how much you want to make, this isn't really a question honestly, it's just basic math of >you put $100 in, price raises by 30%, vs you put $1000 in, price raises by 30%.

The risk is only there if you're a fucking idiot and blindly buy shitcoin of the week. You need to be smart about where you trade your coins.

OP, the most important thing anyone should know when they get into crypto, is that you NEED the mindset that the money you put into it, is never going to come out again, unless you end up making it rich. It's just fucking play money, this is all just a game. You're trying to get as many points as possible.

You get into that mindset, and you will be far more successful than if you worry about how much you're gaining or losing all the time.

I'm looking for a timeline of 1 to 3 years for long term, since I don't think the risk justifies waiting longer than that. Thanks for the response.

>It's just fucking play money, this is all just a game.
That's some solid advice. Thanks. I thought about investing $100 and see where it goes from there. I have more to invest, but investing thousands seems like a bad idea when I have no clue what the fuck I'm even doing.

Can anyone answer a few questions about crypto? Total newbie here.
>shoot
Can you trade it/sell for real world currency or is it strictly for buying stuff online?
>yes
If you can sell it, how difficult is it to sell?
>entering two 1 number and clicking a button. Depending on your option, it's up to 4 numbers.
What's the minimum budget necessary to start buying and see good returns?
>What is "good"? You can go for 2% gains and do that several times a day. But that's a huge time investment and waging is probably better. There are also fluctuations of about 15% sometimes, but again, to catch them you gotta be online a lot. I suppose it's fun with 20k, but you can play it with 1k like a video game too.
Is it a worthwhile long term strategy or daytrading only?
>it's not gonna get away. however we can't say if the price atm. is accurate. If 1 BTC "really" is only worth 100$ from a product perspective, buying anything will be a loss now. The "problem" is that the coins are mostly treadet as a trading asset and there are only a few apps. It can go either way, but it's likely that this bubble will keep growing for another few years now either way.
If there is long term result, what timeframe is it generally speaking?
>Depends on mainstream adoption. There is a shitton of press since the Ethereum rise in May, so it looks vaguely good.
What is the overall risk in investing into crypto compared to regular stock/whatever?
>For the next few years I don't see it breaking. Don't get greedy or addicted, though. Know when to get out and let your coins sleep, if you feel there's a month long bull market.
It's pretty much a tax horror, though, although Veeky Forums generally looks the other way in that regard

Pulling the trigger on dumping your first grand is daunting as hell believe me.

I think I did it because I reached the point where I was tired of being a pussy by not investing, then seeing the thing that I would have invested into moon, realizing how much money I could have had.

I could have invested into ETH when it was 7 bucks, but decided against it because I didn't want to risk it.

At that point, I told myself "fuck it" and went with the first coin I felt had potential and was undervalued.

I bought DGB at 115 sats, the night before it went up. From a $2,000 investment, I now have around $15,000. Could have had $40,000 had I sold when it first reached over 2k, but I was new and dumb and got caught up in the hype of it never stopping.

Lesson learned for free, where most need to lose money to learn something similar.

Good luck kid.

keep in mind that the IRS if you are american has specific guidelines as to what is convertible and what isn't. like bitcoin ethereum and litecoin are all on coinbase and gemini and bank wirable exchanges, so they are quite easily and unarguably convertible currencies. however, unless an existing and widespread means of converting altcoins into fiat it is not technically a "convertible currency"

I'll keep this in mind, thanks for the response.
Appreciate it.
I haven't really thought about the taxes, but I'll do research on that front before committing to any long term investing.