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/biz/ - Business & Finance

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3489429 No.3489429 [Reply] [Original]

>tfw dont understand Cryptos so im not making any money and instead wageying away

>> No.3489442

Nothing's going to change if you don't try to learn

>> No.3489447

>>3489429
Learn

>> No.3489463

>>3489442
>>3489447
It's too confusing, it feels like a huge bubble.

>> No.3489467

BUY GOOD COINS

IGNORE SHILLS

IGNORE FUD

IGNORE FOMO

HOLD

HOLD HOLD

KEEP FUCKING HOLDING YOU FUCKING IDIOT

WAIT SELL REPEAT

>> No.3489491
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3489491

>>3489429
Anon, this is SO MUCH EASIER than stocks and shit like that to get into. You literally can learn how to buy and sell crypto within 10 minutes. If you want to daytrade and shit you need experience and stuff, very time consuming in the first time. But you can just buy now, hold your coins and sell in a year or so VERY easily. Just whatever you do, never invest money you can't afford to loose

>> No.3489516

>>3489491
Yeah but I dont understand crypto valuation.

I can buy, sure. But I have no FUCKING clue the difference between 10000 different cuckcoins and the good stuff. Plus it seems heavily manipulated due to no regulation.

>> No.3489537

>>3489516
start with BTC and ETH. Those are safe bets, from there you can learn more about crypto. Many coins are based on Ethereum, invest in promising ones. You can't learn this in 1 Day but you can learn a little everyday anon

>> No.3489558

>>3489537
Okay should I only invest small amounts? I have about $30k in index funds.

>> No.3489563

>>3489516
>Plus it seems heavily manipulated due to no regulation.

Funfact, this is a good thing.

>> No.3489585

>>3489563
Explain

>> No.3489622

>>3489558
Dont invest until you understand FOMO and FUD because no market will make you feel these things harder than crypto, especially if you are listening to shills and discord groups trying to sell you their bags while every other shitcoin is making 100% gains that you keep chasing after.

The market has panics every other month, this is a good time to buy. Dont buy at ATH, and only you can decide what a 'small amount' is.

>But I have no FUCKING clue the difference between 10000 different cuckcoins and the good stuff.

You can figure it out just by seeing the general consensus on /biz/, reddit, twitter shitters etc (But also understand that 80% of these posters are trying to manipulate you). Then look into the actual specifics of the coin and what makes it great. You need to have it in your head that the coin you picked is good otherwise you will panic sell at the slightest red candle.

>> No.3489625

>>3489516
ez solution: only care about the cryptos with high volume.

>> No.3489649

>>3489622
Where can I start to learn?

>> No.3489651

You dont have to understand it to throw your money at it. GIVE US YOUR MONEY MOTHERFUCKER

>> No.3489671

>>3489625
what does volume mean im confused . sry noob here =D

>> No.3489687

>>3489585
>>3489649

Heavily manipulated means you can study accumulation patterns before a dump. Something I dont recommend you try to follow for a long time.

Theres a million resources out there on youtube, reddit etc. Set aside some time to be spoonfed by this stuff its not hard, its not complicated, and its fun. Read some stickies, lurk /biz/ ffs man its the internet era you can figure out how to build a house from scratch if you know how to google.

The only hard part about crypto investing is emotional management, patience and being lucky at times.

Crypto becomes a hobby, just like anything else.

>> No.3489701

>>3489687
>before a pump

Correction.

>> No.3489707

>>3489687
It just feels so overwhelming and it's difficult to separate the memes from the legitimate information.

How much time does it take to learn would you say? Do I need to quit my job?

>> No.3489712

>>3489671
volume = how much value is traded in them every 24 hours (usually its 24 hours)
eg trading 100bitcoin worth of a crypto twice in 24 hours gives a volume of 200btc.

basically higher volume = more people trading
and if more people are trading it, more people trust it.

>> No.3489795

>>3489707
>It just feels so overwhelming and it's difficult to separate the memes from the legitimate information.

Exactly and I am glad you are aware of this. /biz/ is no longer like the other boards in the sense that lurking will teach you good information quickly. Not memes as such but mainly shilling groups and pump and dump groups which all have their agenda.

You need 0 hours and 0 minutes per day if you just invest in some long term holds and leave them, obviously BTC and Ethereum. But its fun too stay on top of the crypto news and get something early for cheap. I also personally hold omisego because I believe it has an extremely good future ahead of it from what I have studied and because of this faith in the tech/team I have held it through several large dips in the past weeks without breaking a sweat.

No you dont quit your job your job is your source of income for more crypto. Youre not day trading which isnt even necessary for this market. HOLDING yields lucrative gains (Go to tradingview and look at the history of BTCUSD or ETH or any other major coin.)

>> No.3489825

>>3489795
Okay. Ill allocate like 20-30% of my monthly income to Cryptos then after doing more research.

>> No.3489940

50% BTC
25% ETH

15% OMG
10% WTC

Enjoy your Lambo in 12 months

>> No.3490114

Newfag here. Is this income something that has to be reported on your taxes? What app/website should I use to create a wallet or trade coin on and do they have built in 1099s like Robinhood?

>> No.3490450

>>3489940
This is literally my strategy, what the fuck