Invest in bitcoin and some alts
I currently have .75 of a BTC and roughly .5 of a BTC in Various Alts (LTC, NEO, ICX, XRP, and OMG). My original goal was to first accumulate 1 BTC and then focus setting up some long term positions in these alts. However, now I feel like I’m fighting two battles one finally punching my moon ticket and two investing in alt coins. Would you recommend selling .25(BTC) of my alts ( except ICX) and finally punching my ticket? I want to be as disciplined as possible, however I didn’t set strict goals last summer when I started in crypto and now Im wavering on what to do.
Thanks just finding my way around the bussiness watched a couple of your videos although not sure how to do a lot yet I feel very positive that after see8ng your videos and other info again i will be fine thanks also for quick reply this site is amazing
“1” is just a number. .75 BTC is more than 95%+ of the world right now. You’re ok
It’s alright for yourself, the Winklevoss twins and the likes of Ver to say ‘never ever sell your bitcoins’ and for comments to slide in from the sidelines - those that say ‘these guys will never sell their bitcoins, not at any price’ and that’s great, good for you, but you, the twins and the likes of Ver probably don’t have to think about whether they can pay the rent on time this month.
If I had a shed load of fiat, I too would never sell my bitcoins.
Please just remember that because I’ve heard the ‘never sell (your bitcoins) - a deflationary currency for a inflationary one’ line a few times and it’s a case of yeh, ok mate, erm, you are wealthy and I’m trying to get ahead (i.e. I’m skint)… whatever.
I’m in exactly the same position, financially speaking. What I do is buy a set weekly amount on coinbase. This is called cost averaging and it’s a recommended strategy by financial bigwigs for most people.
(atm the bitcoin tx fee’s are atrocious [very high] so instead of tx’ing out every week to my cold wallet, I let the balance build up a bit, say 5, 700, whatever, certainly no more than £1000)
Invest in a hardware wallet. ~£70 for the safest storage around.
And hodl my friend. (Hold on to it for a minimum 1 or 2 years)
I buy ether from coinbase too. My ether just came in v.handy on binance to get me some verge and ripple, but you probably don’t want to know about that at this time.
Looks are deceiving.
What´s up guys!
I share the same emotion, the same anxiety. Here´s what I have been thinking lately that brought a little peace of mind and therefore, a more responsible way of looking at my portfolio. I am also in a very similar situation, barely with my full ticket (1BTC).
Those stories of BTC pioneers becoming millionaires having started with ridicoulously low initial investment, or millionaires becoming billionaires are very tasty ones and we should look up to them and learn from their stories. But, they surely aren´t the only ones that will have their lives completely changed by Crypto! It won´t take an average person a billion USD to live in a completely different way. For many, being debt free is already more than they could expect in their lifetime! Me for example! For many of us here in the forum, the prospect of having enough passive income in order to cover their bills is a very tangible possibility given some 5 years in the future, even with very small portfolios! This is a very, very profitable moment to enter Crypto, we are still in early adoption.
Hodl your coins, share your thoughts and experiences on the forum, let us learn from what you´ve been learning. This is a great and healthy community and keeps getting better. Stay fit, love your family, and turn off the computer and phone if anxiety hits. We´ll be here for you! I know many of you have been there for me in the difficult hours in the recent past!
Wish you success!
Cryptonation has strong hands!
You are 100% right. Money doesn’t change your life. YOU do.
Thank you for the sound sensible advice much appreciated
I’ve been feeling the alt coin FOMO lately, with no extra funds to invest I’ve been questioning if I should pull from my Moon ticket to finance some Alts. This post has strengthened my resolve. I will not be shaving the BTC. Thanks!
I’m a bit of a newbie (<1 year) but managed 4 x returns! I’m comfortable now moving mostly into the “core crypto”; BTC,ETH,LTC. My goal is to double the amount of debt I carry right now which shouldn’t be too hard. At that point I plan to use from crypto to pay down that debt then to let it ride. I figure if I play it smart and crypto payment systems advance as planned I can move more fully away from fiat and enjoy my retirement.
Damn truest and likely best comment I’ll read for the day! Crypto paid all my debts off this year.
Advice and sharing stories? My BTC story is too depressing to tell but I will say this. Listen to Peter and do NOT sell your BTC! Also, don’t buy what you will have to sell. Keep a liquid savings of cash at home and in your bank acct. Keep at least three months (or more) of cash at the ready for when you see your transmission lying on the driveway.
Cryptos ARE the new platform for money. Keep at it friends. The world of money is being turned inside out and soon, within three years, there will be much more visibility into what has happened before the eyes of all those sleepy people of whom we are banging a gong in their ears to get them to hear!
One other piece of advice: don’t measure yourself against others. You will find yourself putting others on a pedestal or you will be looking down upon others with disdain. You are where you are.
Or said another way:
I pledge I will never sell Bitcoin again…
Need to keep reading this… I’m down $35,000 in the last 3 days
and you will be up 50K in 3 weeks (well hopefully haha)
Don’t look at that dirty fiat value, take a little off the top when times are good, and just hodl the rest!
I recommend only taking off the top if you really need it or are further diversifying into other cryptos or back into BTC. As long as you believe in what your are holding HODL that shit the dollar is only loosing value and has been since at least 1986, remember to zoom out and look at the big picture. For reference look at DXY in monthly view and zoom way out, the down trend is startling.
Phew… that was a stressful day today. Love seeing the Asian volume come in and move everything up… especially since that’s the source of worry for everyone anyways.