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/biz/ - Business & Finance

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3330881 No.3330881 [Reply] [Original]

Hi, I'm a retarded poorfag that just was given $5000 dollars. What should I invest in? Should I look for something long term? I'm new to this but have been researching for a little while.

>> No.3330912

>>3330881

$500 in each of the top 10 cryptos by market cap.

Or if you want reduced risk, $250 in each of the top 20 by market cap.

Hodl all of them for exactly 1 year.

Congrats, your investment is now worth 15x what you put into it.

>> No.3330923

just buy 1 BTC, store it safely in a paper wallet, and leave this place. never return. do not get sucked into the abyss like I did.

>> No.3330940

How to be rich in 2 steps
> browse /biz/
> buy FOTM shitcoin
> ...
> YOU ARE FUCKING RICH

>> No.3330962

>>3330881
don't listen to these faggots, if you wanna make mad bank, get in ICO's. You go and put money in any one of these:

Red Pulse
Science
Blackmoon

you'll get that 15x in two weeks, not a year.
Your choice.

>> No.3330975

Buy 1 BTC and the rest in Ethereum and then forget about all this for several years. No shitcoins

>> No.3331019

>>3330912
>Buy by market cap
>But don't cap-weight position size

Jesus Christ is this bad advice.

>> No.3331035

Anon if you are smart enough to admit you are not smart enough to buy, sell, rebalance, ico, daytrade and similar - invest in a fucking index fund (iconomi blx) and forget about it for a few months. Maybe every 20-30% gains you could sell a bit to try some ico.

>> No.3331044

>>3330881
Put it into BTC while it's low and just let it sit there.

>> No.3331158
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3331158

Cool thanks. Where else should I research if I want to into day trading? I'll probably put a good amount in ico/bitcoin/omg.

>> No.3331165

>>3331019
>cap-weight position size

That makes him depend more on the larger coins gaining a lot in order to profit.

This is a bad idea because it is often the smaller coins that go up 30x or 40x in a single year and balance out the larger coins which might go up 5x to 10x.

I analyzed the top 20 coins from a year ago and investing your money evenly into the top 20 by market cap, without weighting the distribution, would have resulted in a x16 multiple of your investment in a single year.

>> No.3331297

i also want to know what is a good wallet and place to start? where do most people trade?

>> No.3331375
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3331375

>>3331158
if you're looking for research follow the cryptosignal blog and join the +2000 member /biz/ crypto trading discord server

discord.gg/VpPrGmF
https://cryptosignal.quora.com/

>> No.3331416

>>3331158


Buy 1 BTC and like 7 LTC