The Easiest Way to Make Money on Crypto? Here it is. Part 1.
I could do just one liner here with whole method and you would prolly profit from it anyways.
This post will be little different than my usual ones but loads of people ask me for trading advice so hopefully this clears it.
But lets get back some years ago. Lets say its 2010 and BTC is worth less than a cent.
Now you get some for free or even buy some at 1 cent. It goes to 7 USD when you are away, then goes to 3 USD when you are there and goes to 0.02 cents.
So if you were home you would sell at 7 USD for mad profit, yes 0.01 cent to 7 USD per coin is MAD PROFIT. Only stupid people wouldnt sell.
Or you could forget of BTC and wake up in 2013 at 1000USD.
So the method? Buy some coins and FORGET about them for some years.
Thats it, simple as that. Just buy and forget. The more you buy, the bigger chances in 2-03 years when you open wallet you will be rich.
Do not read news, do not track, do not flip. Buy and forget.
But again you have questions. What to buy?!
Well i cannot be responsible for your decisions but i would take some coins from the top and some from bottom which have teams active.
So for example
Top Marketcap
BTC is obvious so ive cut it. Then ie LTC DASH NEM XMR NEO IOTA ETC
Lower Marketcap (thats where the gold is)
This are coins with more than 1 USD per coin but marketcap of 1-10 million and some volume meaning people like them.
PLU BTX NVC IOP SWIFT EXCL SNRG VRM look good to me!
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thanks for posting and sharing
Nice post
Electronic currency exchangers rating
Electronic currency exchangers rating
"Do not read news, do not track, do not flip. Buy and forget."
Easier said than done. Greed and fear of missing out on profits will tempt you like there's no tomorrow!!
I notice that STEEM isn't included here - do you not feel that it's a good long-term buy at this point?
was going to ask same question, since I already have some STEEM
cause he is listing some top and bottom ones, and steem happened to be in the middle, ops
Yes, i understand that, just surprised to see someone who's generally very bullish on STEEM not include it somehow in a post on making money investing in crypto.
I actually think it would be good to have three investment buckets, one for some top coins, one for some bottom coins, and a third for a few coins in the middle - such as STEEM.
The bottom coins, while they have the best potential upside, have a really, really high chance of complete failure. Coins more in the middle of the list still have a really substantial upside and much less chance of complete failure.
That's a good idea of having the three buckets. That way we wont be trying to know if Bitcoin is up or down.
Still really nice short article.
Maybe anything about bank management.
Or you suggest investing equal parts of investment sum.
I was wondering where you where headed with your title. It's very true if you have 1,000, put 200 in 5 different coins, chances our 1 or 2 will do extremely well and thus you will make some money. It's a great time to be alive when the biggest thing I consider is opportunity cost. Crypto world is fun times right now :)
Correct, just buy crypto and just set it aside..just let it invested for long term..or invest in goose that lays a golden egg..
I find that hard to do as a Technical Analyst. For instance, the below chart is screaming Danger Will Robinson for BTC:
There's almost 1200 coins out there. You'd have better luck putting your money on a 3-digit state lottery ticket.
Very helpful idea.
Very helpful article.
I'm new to the crypto space, what is the best platform to buy these no-name coins? I've used Coinbase and Poloniex. Do I have to sign up for a new platform each time I want to purchase an obscure coin?
Thx
If you have Ethereum (can get from Coinbase) look into Prism. Its from the Shapeshift people. Lets you invest in a smart contract that has a portfolio of other coins that you don't need a wallet for.
Basically you gamble on alt coins in a smart contract with ethereum as collateral. If they go up you can cash out the profits in Ethereum.
Check it out.
Hodl coins and forget thats the game.
That is pretty much my plan as well. I find investing in ICOs the most thrilling though :)
It's a bit like what it must've felt like for early oil drillers.
Investing in ICOs is like angel investing for the masses. It's great! I don't like to invest and dump as most people though. People should aim to be in for the long haul
I have a great trading strategy, it a little simmlar to this one. When the buy volume increases on a cheap altcoin, you buy. Then you set a sell at 10% above the price that you bought at. You only sell 99% of what you bought.
Eventually the coin will go up 10% and your sell order will execute. So you made 9% profit and have a small amout of the coin to save for a few years.
Follow me @brittuf for the buy signals that I personally use to make money crypto trading.
Followed, look forward to your updates.
Great strategy.