Thinking about investing in crypto (NOT MINING)

[Mrs. Balls]

Hey all,

Need some help from the crypto gurus! I am thinking about investing in crypto currencies by depositing money into a trading account for crypto currencies.

Has anyone here done that and what is it like? I am looking at etoro...

Also as a second option I am thinking about just buying a bit coin and holding it to sell at a later stage and get the return on the coin.

Are these viable options? What are pros and cons? The Internet is kind of vague and dodgy with this regard.

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[PeePeePooPoo]

Hey all,

Need some help from the crypto gurus! I am thinking about investing in crypto currencies by depositing money into a trading account for crypto currencies.

Has anyone here done that and what is it like? I am looking at etoro...

Also as a second option I am thinking about just buying a bit coin and holding it to sell at a later stage and get the return on the coin.

Are these viable options? What are pros and cons? The Internet is kind of vague and dodgy with this regard.

Sent from my HTC 10 using Tapatalk

I would say, if u can afford it, buy a coin for long term investment (1 year+)

If u an investor and u have money to play around with then either invest in long term or do some trading.

Planning on investing and getting a good return in a few weeks or days is a great possibility depending on how many coins u buy (bitcoins). You must remember, the crypto currency market is very volatile and if u sit and watch it the whole day (especially if u have money invested) its gonna make you sick[emoji28]

If i was u i would buy for long term and have some spare money to trade other alt coins like, eth, bcc etc

It all depends on u.
Wish u the best of luck man

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[Mrs. Balls]

I would say, if u can afford it, buy a coin for long term investment (1 year+)

If u an investor and u have money to play around with then either invest in long term or do some trading.

Planning on investing and getting a good return in a few weeks or days is a great possibility depending on how many coins u buy (bitcoins). You must remember, the crypto currency market is very volatile and if u sit and watch it the whole day (especially if u have money invested) its gonna make you sick[emoji28]

If i was u i would buy for long term and have some spare money to trade other alt coins like, eth, bcc etc

It all depends on u.
Wish u the best of luck man

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Thanks dude, yeah my thinking is long term, buy a coin now and sell in 5 years time or so.

Obviously as an investor I want the largest returns so I want to weigh this option off against passive investing i.e invest in a crypto portfolio. The portfolio option just seems a bit risky, as most of the sites look dodge...

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[AAAH NUUU BRU]

etoro is a pretty cool platform, i use it for short term trading of a bunch of stuff but i would never use it for long term investment, just remember if you "invest" on etoro you do not own anything at all, you are not buying crypto currencies or shares or anything, you are more "betting" on them in a way. The biggest short fall here is that because you dont own anything you can lose everything and once your money hits 0 your trade closes and thats that done, where as if you buy a coin, if it drops to 0 you still have a coin which you can keep and hopefully it is worth something again someday.

The way etoro works you will make make and lose money at a higher margin than the actual coin, you can set this margin, but at the lowest margin your account balance will hit 0 if bitcoin loses 50% of its value which is why i would not use this method as a long term investment ever. On short term this changes from a massive con into a decent pro if you know what you doing.

anyway my 2c

 

[Tits_McGee]

I sold most of my mining kit and used the cash to buy into ETH. So far i'm not regretting it one bit. I've made a 60% return so far, over a relatively short space of time. I've got most of my holdings in ETH, and the rest in OMG, IOTA and Siacoin.

With all this being said, it's pretty damn volatile, and you can't bargain on those kind of returns all the time, but if you planing on hodling you should do fine over the longer term.

I bought in via ICE3 and transferred the eth i bought into MEW. I bought OMG from Bittrex and IOTA from Bitfinex. ETH and OMG are in my paper wallet, and i use the little bit of IOTA i bought to mess around with trading on the exchange.

 

[JollyJamma]

I put R12K into bitcoin last month and I’m sitting at R14500 right now after the spike last night. I like the instability, it lets be buy in at a lower price.

I haven’t tried cross crypto trading though and I will but I’m letting the recent bitcoin spikes do the work.

You need guts to trade though but it’s totally doable and there aren’t monthly account fees. Plus, you can avoid buying and selling fees if you play around with your price a little.


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[Wip3out]

Biggest advice I can give is think of this as money down the toilet. Hear me out before you say boooo!

I myself firmly believe that any crypto currency atm has huge potential for investing BUT what you should also know is this could also be a bubble and the stuff can crash. It is a risk and noone can guarantee you it isn't.
That's why I came up with the analogy at the start of my post. Invest money and forget about it. It should be money that you can throw down the toilet (literally).

Maybe in a few months time (or years) you look down the toilet and see hey my money I threw in the toilet was in a waterproof bag and now its worth much more.. Great you made money with the investment.
Maybe in a few months time (or years) you look down the toilet and see hey my money I threw in the toilet was in a waterproof bag but the bag leaked and now it is worthless.. The investment didn't work.

Long point of the story: Only invest what you can lose with no consequences.

I bid you goodluck. (I for one am hoping for the $100k per coin bitcoin prediction)

 

[Rudi]

Which crypto's have good future potential? LTC didn't grow as much as I hoped and ETH have reached a plateau

 

[JayKay]

Give it time.

The cryptos with the largest market capitalisation (of which Eth is one) will be staying. Others will will come and others will go.

Deciding which coin will be going up in price will require lots of homework... with some luck added. My view is that Bitcoin will increase, it has a finite quantity which makes it a "precious" resource like gold.

Remember we are still in the early days of crypto. The cash for goods system that we know today have been around for thousands of years, crypto has only been around a decade or so. The way the world is digitizing says to me that payments will also be digital on an exponential road going forward.

So in answer to your question... which coins to look into? I'd put 80c to the rand in the established coins, then 20c to the rand in other smaller coins that seem to be making moves on the market. Dash seems to be interesting with some developments in 2018 that may increase price. Also SiaCoin could be something as it has a real world intended application that I think has potential...

As with all crypto investements.... be safe and don't invest more than you can afford to lose.

 

[Kav33r]

Give it time.

The cryptos with the largest market capitalisation (of which Eth is one) will be staying. Others will will come and others will go.

Deciding which coin will be going up in price will require lots of homework... with some luck added. My view is that Bitcoin will increase, it has a finite quantity which makes it a "precious" resource like gold.

Remember we are still in the early days of crypto. The cash for goods system that we know today have been around for thousands of years, crypto has only been around a decade or so. The way the world is digitizing says to me that payments will also be digital on an exponential road going forward.

So in answer to your question... which coins to look into? I'd put 80c to the rand in the established coins, then 20c to the rand in other smaller coins that seem to be making moves on the market. Dash seems to be interesting with some developments in 2018 that may increase price. Also SiaCoin could be something as it has a real world intended application that I think has potential...

As with all crypto investements.... be safe and don't invest more than you can afford to lose.

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Golem and electroneum seem decent too

 

[tonster]

my 2c worth. if the crypto currency has a useful function like Ethereum it will stay. Bitcoin will stay because of the market cap. But hard on what has a purpose.

 

[JollyJamma]

I can't even with Bitcoin. It's just too insane. It's just hit R189 000.00 on Luno.

My small amount of Bitcoin is now becoming worth something.
R29 000.00 worth with Luno and 440.00 pounds with a UK exchange. Insane considering I put in 300 pounds not long ago.

Now I'm looking at (M)IONA and Ripple.

 

[Cyst]

IOTA (mIOTA)

Have a look at it. There's been a couple of announcements made recently about the use with big banks and other corporations.

I bought at $3.30 yesterday and it's already at $5.foutysomething.

I feel like Bitcoin is a little overpriced, but that's just a feeling.