โด๏ธ WHAT SHOULD A BRAND NEW PERSON DO IF THEY ARE NEW TO CRYPTOCURRENCIES AND ONLY HAVE $1000 TO INVEST? ๐
"Investing in oneself will always be the best investment a person can make." ~ Charles Fuchs.
What's Up STACKERS!
Before I get started, remember that I'm not an "Financial Advisor" and that they should talk to one when making an investment into anything. However, I never will use one... I just can't take money advice from people who make way less than me. ๐
There are so many "newbies" coming into the cryptocurrency space everyday and they all ask the same question...
"What cryptos are the best to invest in?"
The best answer is... don't ask, do you own in-depth research. In other words, if you come across hyped up Youtubers "bad actors", Technical Analysis "shills",ย or even your social media friends (it's like they know anything anyways) take every information you get from them with a grain of salt ๐คฃ.
Many of them have their own agenda when sharing information.
For newbies (remember this is for people just starting to learn about crypto), I recommend that they invest in the basics first. Keep It Simple! I would advise them to open a CoinBase Account (New People will get $10 Free for opening an account).
What should these new people do then after opening an account. We'll that's pretty easy, start investing. They should first buy the top "Cryptos" on Coinbase for $100 each in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash just to start off.
This will leave them $600 leftover for later until they get comfortable buying and selling cryptocurrencies while they do their due diligence looking for other coins.ย
Never rush into anything! We all seen what happen in November - December of 2017 when every family member was pitching everyone that cryptocurrencies was the easiest way to make money since slice bread duringthe Thanksgiving and Christmas Holidays (hyping it up).
Guess what, they all rushed in and put everything they had into the markets and well all know what happened next... They lost there asses off and probably will never invest again and calling "cryptos" a scam. ๐
Once they get comfortable, then they all can start learning and doing research on other cryptocurrencies. In the mean time, I would also suggest them to invest at least $100 into Steem.ย
The reason why they should invest into Steem and join Steemit.com is so that they can start earning some crypto for free and most importantly, learn how blockchain technology work.ย
Now that they have $500 left over, they can now use those funds to invest in other speculative plays that they think will be good.
HOW SIMPLE IS THAT?
This is how newbies should get started. I see far to many new peopleย jump in these hyped up cryptos promising #whenmoon #whenlambo not even knowing what they are investing in.ย
So I hope this help out all the newbies out there if they have $1000 to invest... It's also a great outline for many of you to use to give people who are just getting started in cryptocurrencies. ๐ค
Have an Awesome Sunday and Keep On STACKIN! ๐
P.S. For those who's interested in following my "Content" and "Daily" Posts... you can just follow me @stackin to get my updates.
if i start now with 1000$ i will buy some btc steem and eos
All great companies ๐
I think if you have $1000 to invest them buy $500 worth of ADA $200 Eos $200 Ncash and grab yourself a NEO coin tooo.... :) enjoy..
If they have writing content skills and are willing to post regularly then:
$250. into Steem/Steemit
$250 BTC when it hits a 120 day low
$500 among the coins you named when each hits a 120 day low
Good advice @ stackin.It's also important they invest what they can afford to lose so that when god forbid things go sideways they won't get knocked out.
I like the picture on the wall
It's all about that 10X lifestyle haha :)
just buy ICON and WANCHAIN ;-9
I bought ICX when it first came out, A huge blockchain protocol crypto from Korea. I love it :)
When you invest so you take back what you invest at some point or just hold for a period?
That is so hard to say, depending how high it goes. For example, I bought lots of EOS around $4 and now its $20... I did take profits and still own lots of coins. In other words all my tokens are free now. :)
@stackin
I think what is killing most people is that they don't want to invest, they just want to join and start making money.
@stackin
Thank you for this wonderful piece of information, i still got a lot to learn from crypto.
Have a blessed Sunday
Totally agree, that's why most people will fail when investing, They want that quick money! They just should come to Las Vegas and play blackjack if thats the case hahaha
@stackin newbs should always start with Coinbase, the fees may be high but the ease of use hooks them instantly after some Gains!
Well that's how I started, I'm still a newb but after doing some due diligence, and a couple could mining contracts later... I found Steemit, not only can you generate crypto; in comparison to other social platforms it's truly better for the soul!
You hit the nail right on the head. Make it so simple that people will love crypto ๐
Being relatively new myself, I think Steemit is a good place to start too. Because you can earn cryptos will posting, which you could either convert to Steem Power or eventually use to buy other cryptos. But just my two cents :)
Speaking the truth right there and best of all Steem project are all free to join ๐ช๐ผ๐๐ผ๐
I'm a crypto amateur and I never knew about coin Base before now, thank you for the exposure. I couldn't agree more with you on this...
It's the same thought pattern I follow, I mean if I don't see the evidence on you then I find it difficult to follow your advice. In addition, I would like to say that if you're coming into crypto new ensure that the money you put into is spare money, the kind you can afford to lose.
Happy Sunday to you @stackin
So much to learn these days in the crypto space. I don't use coinbase anymore at all, however it's the best place for new people to get started.