My Opinion on Crypto Investing (as a rookie trader)

Investing is one of the most important things you can do with your time and money. That's a given, I don't care if you disagree, I had to learn the hard way myself. Trust me, no matter what job you have or what kind of money you have, you have to absolutely invest into something. Be it time, or money itself, there's investing going on all over the place in your life.

Thankfully, in modern day, we have more options. One of those options is cryptocurrency.

I don't think I have to get too much into the subject of what it's all about. Being on steem, you most likely know the whole spiel already. But what I want to talk about is "how good is it as an investment?"

Is it really that important to invest into crpyto?

In short: yes.

Okay, thanks for reading!

...

Fine, I'll go on more about why I say yes.

It's a yes, but a sort of shy "yeeeeees?" because of a lot of factors. Crypto nearly died off a year ago, with an entire cultural change needing to keep it alive. It's still in the niche area of the world, it's not that mainstream, and right now the main thing keeping it alive are major corporations with questionable intent and governments(like the US) now able to tax on it.

The thing is, I live in the US, and I have access to the app Robinhood that makes it incredibly easy to trade and buy stock. It's US only, so anyone from another country might not get the same results as I do. I use it because there are no trading fees other than a slight price difference between selling and buying, which I suppose is the gas fee. It's a little tricky, but as long as you're buying and selling with more than a 0.4% spread, then you're making profit!

Here's the thing: only one week in and I love the heck out of crypto!

I buy in the morning, sell at night, and make profit every day. I make more profit than any stock I've had before, including during the time of the big stock boost last year. I make more profit from crypto than p2p.

So how much do I get?

Out of the $1,000 I put in, I get around $5 a day. That doesn't sound like a lot, especially since I'm learning still, but that's a hell of a lot more than most other passive income investments. It's $5 from doing nothing but keeping an eye on an app in my downtime.

My main trading crypto is ethereum, since I love minds.com and get tokens from there for just treating it like a facebook account. Thankfully, since ethereum is backed up by a bunch of corporations, I don't have to worry about it dying off too soon anymore. Plus, with news about it possibly going to have it's price go up by 10x in this year I have every reason to stick to such an investment for at least a year.

So, for the bad news...

Crypto is a free swaying pendulum of an investment. One day it can be up, the next it can fail. It's like gambling, with pretty big chips I might add, but with a more stable payout than actual gambling. I don't expect any coin to last too long, so my best advice is to not keep any coin for too long. Keep your hopes for about a year or two to hold onto any coin.

If I'm wrong about a coin's life span, let me know why in the comments, but seriously, it's a great short term investment, it's pretty easy to live on such an investment later on, but it should be used as a gateway to start making other investments that have a longer lifespan.

In short: I say yes, it's a great gateway to start investing into more things.

And remember, never EVER put all your eggs in one basket. To those who want to invest, just go ahead and put any spare money you have into anything you can. Test all the waters, see what sticks, and make a good plan for what you really want out of your investments. Never expect to become a millionaire overnight, but if you can make an extra $100 out of a small delay in using money you didn't even really want to use, then by all means do it.