Have $500 want to get in on cryptocurrency. What do?

This is incredibly hard, and not only that, ultra time consuming. With the gains you'll make off 1-2% from $500 it's literally next to nothing.

yeah don't be impatient. 360 days of 1.5% daily profits from day trading is easy if you're not greedy. 1.5% daily profits after a year on a $500 starting pool would leave you with $104k

All-in monero

Buy a hyped but not shilled coin that has low mkt cap. Right now I would say MOD.

That's true, but when has that literally happened to anyone, or even a computer following algorithms?

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I sold LTC at the peak, is it worth buying back in?

Can you explain this some more? Do you mean to put $500 in 1 coin, let it gain ~2%, then sell it all. Use the $500+2% the next day to do the same thing, and repeat until infinity? Isn't this a bit dangerous because at one point you will lose 2%, which 2% of $10k is a lot of money which will take you longer to earn back. Or do I have the wrong idea of what day trading is?

Buy BTC and hold long term. Sleep comfy and watch your stack rise

Sure. What I do is I look at certain trends in the market. TA not working on crypto is a meme. It works far less, but 5/7 trades will be in your favour.

I usually set myself up with a stoploss of 0.5-1%, with a gains goal of 1%. Don't always go all in for the 2% in one trade- remember, your goal is 1-2% per day. Be patient.

with a $500 starting pool, after 180 you'll have 17k. So it's slow. But after 360 days, at 2% per day, you'll have $611k.

Obviously you'll win and lose some trades, but for the most part, if you know what you're doing, you'll be okay.

Seriously, just youtube basics and you'll be 10 steps ahead of all the random Veeky Forums memers that are investing to become millionaires next week.

5/7 trades was embellishment, but the point is it'll be favourable to you if you understand how to analyse the market.

What exhange to start with?

I use Bittrex.

Binance is a good place to get used to the market because of its better UI, but it has bots and not nearly as many features

Remember, sometimes it's better to cash out at a loss if you can reliably guess the price will drop. And sometimes it's better to cash out on a gain even if you feel the price will keep going up.

I'd suggest starting off with a $50 budget and see if you can reliably hit these numbers for a month (pic related)

Bittrex has a 0.25% fee for each trade btw, so factor that into your stop-loss and cash out goals.

You'll find a lot of trades that aren't worth your time and you'll end up cashing out at a breakeven point too. You'll get used to it.

Dont listen to the gronks telling you to day trade, it's too much risk, for not great reward when you even get it. Take nice long times between trades like weeks, and months, take good sell/buy opportunity when you can, and dont fall for all the BIZ shill, 99% is BS,
Better off sticking to the big dogs(I have been traiding XMR, LTC and BTC as of late and it has been going great, since i stopped day trading).
But in all honestly you will probably struggle to turn over a good profit for a while untill you build your pool up and learn the ways. Dont give up, i didn't and i went from being 35% down at one point(when i was day trading) to 50%~ up from my initial investment.

Don't listen to this retard.

I've been here for years, your best bet is to pick a promising coin in the 20-50 range on coinmarketcap's listing by market cap size and HODL.

Okay retard

This is sound advice

Oi cock-gobbler, i wasn't saying to buy only BTC, LTC & XMR, i was just saying they have worked for me, and that they should find what works for them.
Well anyway, hodl your base value if you want, i'd rather accumulate, you do you, and ill do me.

actully he's right, dont listen to me.
Do listen to shills & loose all your money.
Do emotionally day trade and loose all your money.
Do buy right now instead of being patient for a good price, and loose value from your investment.
fuck i made no sense right??

Here's your (You)

Someone's on the spectrum, i was being sarcastic you autist

>but I guarantee you'll lose all/most of your money the first time you try it
For real though at what point does this pain end?

I'm interested in knowing this as well. It seems to be crashing in dollar value right now though.

>Buy paper shredder
>Put in 50-100 dollars a week.

Achieves the same affect.

in 3 hours i've turned .038 btc int .0503 btc just trading BCC swings

how is this even worth the hassle if btc is rising by about 10% a day?

Because one day soon you'll wake up to it being down 20%. At least that's what I keep telling myself.

eth, good stable bet, no rumors or fork bullshit, good chance of going up seeing as it is second most popular coin

VTC, XLM, and maybe Syscoin

>do be a poo in loo that can't spell lose

SeeThat's about as safe as you'll get it. If you wanna be riskier, I think LINK is a good buy right now.