What have you invested in?

[KG]

Love crypto. Got involved and started investing about six months ago.

Currently, I'm holding BTC, ETH, NEO, and OMG.

What about everyone else?

 

[SanjayAffix]

I have just started learning about this, Still to learn a lot. Friend of mine lost money in Verge (XVG) last month. I am little skeptical about these ALT coins. Learned about Pump and Dump and seen that many newcomers loosed money in that. Lately Bitcoin cash is showing huge growth.
What do you suggest for new comers. I do not feel comfortable in this market due to its volatile nature. Everyday a new cryptocurrency is coming. Which exchange do you suggest ?

 

[KG]

Its a really good question.

I've lost money as well. Once because I was stupid...didn't put the right security measures in place and was hacked, and another time because I was stupid again and put the entirety of my investments into one coin because I heard a rumor it was going to pump...instead it took a big dip.

You are right that crypto is extremely volatile. But it can be great if you have some self control and stick to some basic rules. I decided not to go the day trader route, and instead I decided to approach it as more of a value investor, meaning I invest in tech that I believe in for the long term and I hold through all the dips and rises. Because of that my returns (despite lots of turbulence) have been steadily rising if you take the long view. Here are just some of the things I've learned.

1. Don't invest what you can't afford to lose
2. Take all security measures possible (two factor verification, cold storage wallets, don't leave money on an exchange etc)
3. Never put all your eggs in one basket. Diversify your investments.
4. Invest in the tech, the team, and something that resonates with you...read the whitepaper and know the roadmap! In other words, don't invest in something just because of hype. Do your own research, understand it.
5. Buy while there is blood in the streets, even if it's your own. I don't try to buy when something is on a run...for instance Bitcoin Cash right now. Buy when everyone else is freaking out. When prices are low, it means things are on sale.
6. Etc. (plenty more that I have learned but I have to go atm).

I use Bittrex personally. The Blockfolio app is a must as well.

 

[SanjayAffix]

Thank you KG. Here is what I have learned so far from you and other places
1. Buy when there is dip.
2. Do the proper research on the coin itself, like developers, goals, roadmap and technology.
3. Don't go mad when there is pump and dump situation.
4. Hold for longer duration.
5. Don't put your money in exchange and always use two factor verification
6. Invest in more than one crypto

Somewhere, I read that newcomers should start with very low amount, first study and understand the way market work (spend 6 months and learn extensively) and then start investing more.

 

[KG]

Yeah! Those are all great.

In regards to investing a small amount...that could be a wise move but I don't think you need to wait six months before investing again. I think it's wise to invest and even sell off at intervals. Say you have $3000 to invest. I would wait for a dip (when everyone is freaking out), and invest $500-$1000. Wait a little longer...good chance it will even dip lower and you buy again. This way you can spread out your average buy in. Again...it's the don't put all your eggs in one basket rule. Spread things out. Although this isn't the only method...I think it's one of the smart ones.

 

[Ivan cooper]

I am investing in BTC only

 

[SanjayAffix]

Wait a little longer...good chance it will even dip lower and you buy again. This way you can spread out your average buy in.

WOW... Thats awesome technique. Many thanks for sharing it

 

[SanjayAffix]

I am investing in BTC only

Any specific reason that you stick with bitcoin only and leaving other altcoins ?

 

[KG]

WOW... Thats awesome technique. Many thanks for sharing it

Too many times I've invested all of my money at once on what I thought was a dip...only to see it keep dropping lower. Doing this you might be able to hedge your bets a little. Even if it goes back up...just be patient...it will probably go back down again. Honestly, PATIENCE is the name of the game with crypto. Don't get caught up in the hype. Be calculated and patience.

 

[shaunm]

I have only been interested in Crypto for around three weeks but I can see it becoming a nice little side project, my current portfolio breakdown is....

56% = Ethereum
34% = OmiseGo
10% = Bitcoin

 

[Ivan cooper]

I am going to invest in Ethereum, Kindly share your experience.

 

[Ivan cooper]

Also other crpto excluded Bitcoin, Thanks

 

[SanjayAffix]

I have not invested yet, but I am looking in it almost daily.
I think ETH, DASH, POWR, BCH are good option

 

[Jessie David]

mostly in casinos and slot machines, but i have bitcoins as well

 

[shaunm]

I have held TenX in the past and am half considering picking some up again in my next buying round as I like the idea and the team. They also have decent community communication. The thing that holds me back is I just beleive in Ethereum and OmiseGo more.

 

[KG]

I have held TenX in the past and am half considering picking some up again in my next buying round as I like the idea and the team. They also have decent community communication. The thing that holds me back is I just beleive in Ethereum and OmiseGo more.

TenX is great as they already have a working product.

I also hold ETH and OMG. Very solid projects as well.

 

[Marc]

I jumped into XDG a few years ago, together with our old Jay So I just dropped a few k on dogecoins (lol)

Nah, wasn't the big win though - LOL

 

[jazzme143]

Nice to see that we have cryptocorner here

 

[KG]

Nice to see that we have cryptocorner here

Glad you like it! We decided to try it out and see how it goes.

 

[hiimjeremy]

I got into both LTC and BTC recently, but looking into XRP as well for the future. Trying to be patient and wait for the right time/dips to build up my BTC balance a bit, currently.