New to crypto? Looking to invest?
I have recently delved in to the wonderful universe of cryptocurenncy. And I've had success. Although I can't share the numbers with you, I've turned what I got from a minimum wage job into enough money to buy a car, repair my own car, put down a rental deposit, buy my heart's worth of Amazon products, ease my failing budget as gas prices soar and I struggle to live with the paycheck I'm given, and so much more. And this was after I lost two thirds if all my investment gains to an unexpected and sudden bear market in crypto and the stock market. For a while there I thought Bitcoin was months away from hitting a million dollars. But now that I've seen market correction, I have a more formal knowledge of how these things work.
So what should you invest in? I personally think cryptocurenncy should be the start of your portfolio, and yes I recommend having more crypto than your stocks. Although once you get things rolling pretty good, I'm a hardcore proponent of investing in gold, silver, and even some commodities like medicine, bullets, ect... I started off with investing in Bitcoin and Ethereum, but as I discovered more about Altcoins, I discovered that there was an entire universe of crypto choices to choose from! And I do herald one of them as being the GREATEST increasing asset with the most remarkable potential, and that coin is EOS. Built like a better Ethereum, EOS promises to host millions of transactions per second at 0% transaction fees. This could be bigger than Bitcoin!
But before you dump all your life savings into EOS, it is good to know it's weaknesses. As of now, it holds no quantum resistance, so it could be exploited by quantum computers in the near future. Nexus Earth is trying to solve this problem right now with 3D quantum resistant Block chain technology and artificial intelligence in the marketplace, but Nexus lacks the scalability EOS has. And thus I think at this point both coins are excellent investment tools, as they both have a lot to learn about each other.
Both, however, lack privacy. Monero, I think, is still the king of privacy coins. Dash, Pivx, and Verge are also trying to be good privacy coins too. But in my opinion, privacy coins become redundant when you can obfuscate your crypto trail using monero trading, so I wouldn't argue this as fundamentally important from an investment perspective.
The coins with smaller market caps tend to fail most often, but they also have sharper increases when they do have them. I would avoid ICOs, but it's always fun to invest in the most volatile cryptos. I don't know how long Ethereum is going to stay around with all it's competitors coming out of the closet, but I still think Bitcoin is a good investment if you hit it at a low point. Just beware of when whales leave the marketplace, and don't mistake those movements for genuine corrections. Study the lines of support and resistance in order to best understand what the likely movements of a coin price might be.
In order from greatest holdings to least, my personal crypto portfolio rests primarily with EOS, followed by Nexus, Bitcoin, Golem, INS, SingularityNET, Steem, and SONM. I have lots of interest in investing in other coins!
Feel free to share your questions or opinions regarding crypto, and I'll try to share more about the specifics of the different cryptos I'm involved with in the future.