Investing in cryptocurrency?

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Seaforth
Posts: 46
Joined: Mon Sep 11, 2006 5:32 pm
Location: Switzerland

Investing in cryptocurrency?

Post by Seaforth » Fri Feb 02, 2018 8:24 pm

Has anyone here tried investing in cryptocurrencies, i.e. Bitcoin, Litecoin, Ethereum, etc?
This is a topic I have been looking into recently and it could be useful to compare insights into strategies etc. etc.

Thanks.

Seaforth
Posts: 46
Joined: Mon Sep 11, 2006 5:32 pm
Location: Switzerland

Re: Investing in cryptocurrency?

Post by Seaforth » Tue Feb 06, 2018 1:53 pm

I may try to write up my thoughts about why I think cryptocurencies are a good thing one day soon.

For now I have decided that since the prices of the coins have fallen dramatically in recent weeks, in my estimation I think the time is now right to invest something that I can afford to lose and buy some cryptos. I'm sending some euros to Coinbase to do exactly that. Not that I have any expertise in the subject but it seems like the time is right.

JonFlower
Posts: 97
Joined: Sun Dec 24, 2006 8:34 pm

Re: Investing in cryptocurrency?

Post by JonFlower » Sat Feb 24, 2018 9:57 am

Buy and hold (HODL) is my strategy. Then you need a cash out strategy - never cash out everything of a particular coin/token just in case :)

JonFlower
Posts: 97
Joined: Sun Dec 24, 2006 8:34 pm

Re: Investing in cryptocurrency?

Post by JonFlower » Sat Feb 24, 2018 10:00 am

Also: diversify.
Litecoin, NEO, Stellar, Verge, Cardano, RDD.... try to get a little of many coins in the hope of catching a rising star as well as benefiting from the general rise in market cap.
Go through the time and effort to store your coins securely in off line wallets and back them up, encrypt etc.

Then sit back and wait a year or more :)

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