[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


View post   

File: 123 KB, 980x740, help me faggots.jpg [View same] [iqdb] [saucenao] [google]
3880230 No.3880230 [Reply] [Original]

What advice would you give to a young investor on cyrptocurrency? My folks take care of most of my expenses so I figured I might as well start investing now while I can afford to take risks. I'm planning on investing 500 outright, and then about 150 from my paycheck each month.
What exchanges should I use? What coins are profitable and which are just memes? What advice would you have wanted to hear if you were young? Coinbase seems nice and simple, and I like the looks of ethereum but what do I know?
Any advice?

>> No.3880240

>>3880230
My advice is this: Don't

>> No.3880244
File: 1009 KB, 500x280, 1504305366948.gif [View same] [iqdb] [saucenao] [google]
3880244

>>3880230
Get out while you can kid...

>> No.3880245

>>3880230
Localbicoins. Electrum. Titanium nuts.

>> No.3880317
File: 13 KB, 528x404, ecksdee.png [View same] [iqdb] [saucenao] [google]
3880317

>>3880244
but I want ebic internet money anon :DDD

>> No.3880738

>>3880230
How yung are you?
I sense::: 18..
Maybe 16.

Either way, take it from me a man who was in your shoes not long ago.
You have one job; you need to wait likely until sometime in the next month or so, maybe more.
You have to wait for ETH to crash, it usually happens late in the year but sometimes it doesn't so beware.
Anyway you have to wait until eth crashes again, you'll probably get it around $300 but even that is too high (I'm just not sure it'll go much lower for any long period of time ever again), if you can get it for $210 that's great. Eth is in a bulltrend right now so the crash will happen sometime after. Then, buy $1000 of Eth, $500 is not enough for large cap coins to see any real gains.
Once you have your Eth hold it for forever, I'm serious. You can almost treat it like a fucking IRA.
The two most helpful things you'll learn early on from anyone who actually wants to help you are these:

>> No.3880752

>>3880738
1. Don't fall for moon coins/small projects that someone insists are going to make you do some X's. You'll always miss the right trains without proper knowledge which comes from being in cryptocurrencies longrun. That said, of you are stupid enough to go for risky bets before you learn (and I really really underscore this, do not. No matter how smart you think you are) then never sell until you make profit (unless of course you've fallen for a REAL scam like Kidzcoin). In cryptoland almost every coin does reach it's all time high again, unless it was pumped and dumped to shit, and the time that passes while you're losing money isn't as long as it seems, ever.


2. The crypto yearly cycle goes more or less like this: in the beginning in January, everyone is still depressed from the dumping of December, so much so it seems, that the normies and weakhands have been weeded out. Everyone's mind is more nice and clear and reset to find the great new coins of the year. (At this time this year, Eth was $12) after a great month of steady gains in January, February comes and that's when you can really know which coins are likely going to be winners for the year (I think this is because of less shilling due to the dead normies who only care about trading price; buy high, sell low.
You see great steady gains through spring into summer, when it gets rough. Sometimes the great pump and the later dump (more of a huge crash) happens early in summer, sometimes later so you have to be careful; sometimes it's just a slow bleedout in all crypto price.
Finally fall comes around and this is where you may see some great pumps, some huge dumps, or a real shitty and drawnout bear market. Whatever the market chooses will continue until November in which there is usually a huge selloff, winter depression sets in and the cycle repeats.

There you go, if you follow these instructions you will make money, great money. I guarantee you will 4x any investment you put in within a year.

>> No.3880771

>>3880230
Do your own research faggot
This is the single best advice anyone could give you and im doing it for free
Now fuck off

>> No.3880780

Please just delete this thread and fucking lurk, please.

>> No.3880825
File: 281 KB, 452x617, 1503859223522.png [View same] [iqdb] [saucenao] [google]
3880825

>>3880230
Also, hint: never use cuckbase.
You go find out the rest now.

>> No.3880935
File: 171 KB, 853x1280, pEyyWkU.jpg [View same] [iqdb] [saucenao] [google]
3880935

>>3880230
You have to make your own determinations. Read the white papers. Watch the interviews on YouTube. Find the criticisms that people write up on medium or bitcointalk or wherever. After you've assessed the information decide what you want to do.

Draw information from many sources too. Listen to a lot of commentators who don't agree with each other.

Be HIGHLY skeptical of any shit that's aggressively shilled on /biz/. Sometimes they're accidently right but other times they're telling you digibyte or milocoin is a good investment.....