I just wanted everyone to share their tactics and mentality in regards to investing in cryptocurrency
1.) Are you buying a few coins and holding them long term? Or are you buying and selling coins based on hype and trends to maximize profits? Or somewhere in between?
2.) Do you belong to any groups that pump and dump coins? What are your thoughts on pumping and dumping (market manipulation tactic)? Do you think it is wrong or brilliant for those who understand what is going on?
3.) How are you securing your coins; hardware wallet, software wallet, wallet pushed by the coin, or do you keep them right on the exchange like we shouldn't do (I am guilty of this on occasion)?
4.) Do you guys reinvest any profit you make or do you keep it (buying random stuff)?
5.) Are you trying to make millions or just trying to find an alternative to the crap interest from the banks?
6.) Any success stories? I hear about people turning $100 into hundreds of thousands and paying off all kinds of debts?
7.) Any coins that you are passionate about and feel will go up or down in the near future?
8.) Any good tactics to really make profits (pumping/dumping, chart reading, yelling at your computer, etc.)?
Feel free to share anything else!
hello,
I have been investing for a while in crypto's, I am now holding ubq and sumo coin. Bothe new/ unique/ undervalued.
I used to ride the waves on bitcoin and it cost me a lot of money as I didn't ride the biggest wave. I would advise go longterm and don't go after every wave unless your an expert
I keep my coins on a wallet offline as much as I can. Passwords are always an upissue I lost a lot of coins by forgetting passwords. Passwordsoftare programms failing one me.
I managed to turn 10k into 90k but then the chinese pulled out and panick sold at 10k again :). So not yet a successtory. But as long as bitcoin keeps going up I think the returns on aforementioned coins could be promising.
Tbh most top 50 coins will probably go up when bitcoin goes up so you can't go wrong in that respect, I like to gamble a little and go for new promising coins as they could show much greater returns. Ofcourse also greater risk involved!
@oudekaas, sorry to here about missing out on that 90k and forgetting passwords (passwords are my downfall as well), I am sure you'll earn it back if you haven't done so already. I agree with your last statement about all of them going up and am glad to be part of the generation that caught on (as long as bitcoin doesn't sink with all of the upcoming events come August 1st).
You might be interessted in this discussion - is Bitcoin still digital Gold? https://steemit.com/bitcoin/@blockrush/is-bitcoin-still-digital-gold-open-discussion
@blockrush, I will definitely check it out, thanks! Any input on the questions above?
This is a tricky question but I will show you how to eat your cake and still have it!
First of all you should approach the Bitcoin and Blockchain industries with two main goals:
For this purpose you might want to divide your portfolio as well as trading instruments and tactics into two, one for the short term benefit of making a living and the other for the long long term benefits of striking Gold.
Day trading by buying low and selling high could help you make a living, but when it comes to ICOs, you should invest with the intention of holding your investments for over a year. While you may keep your short term tokens in web wallets, its wise to store your long term investments in the safest way possible.
Read the full post here: https://steemit.com/life/@blockrush/how-to-eat-your-cryptocoins-and-still-have-it
I agree with your philosophy, I have the same approach. I have a diversified portfolio to mitigate any one or two coins tanking. I also like to have spare money to invest in small coins for day trading. Small investment for potential big gains. Thanks for some of your input.
Maybe i should start with something simple: I am majorly into trading low market cap coins using simple smart dump and pump strategy.
On facebook, i'm in a group that's helping me greatly with a lot of amazing and professional crypto traders. The group's name is Cryptocurrency Coin Collector.
I think the best tactics to make real profit in this industry is to believe the future already begins with us and with that understanding, invest for the long term in major or top cryptocurrencies that has high market cap and great future use cases. Buy and hold strategy will work well with Bitcoin, Ethereum, IOTA, Litecoin, Steem and......
I have a #milliondollargoal to earn my first million dollar before i clock age 21 and part of the ways i planned doing that is through crypto trading, so i am fully in to make huge money here and not just rap interest from the banks
@bania, I'd love to hear about your smart dump and pump strategy (I am trying to start a group to do the same because most others are just scams that benefit the admin of the account). I'll have to look into that group on Facebook you mentioned, sounds legit. I like your view on "believing in the future", I definitely I agree and am so happy I stumbled upon cryptocurrency and have started investing. I am right there with you in regards to the #milliondollargoal and am envious of you for getting in so young. I am 24 and wish I had gotten into bitcoin when I heard about it years ago....never too late!
I hold coins I believe in: Bitcoin, Ethereum, Litecoin, Dash, Dogecoin and Ripple. I trade anything else.
I have always been interested in these groups. But don't know Any. Does anybody know these groups?
Hardware wallet for life!
Both!
I dunno about a millionaire, but I'm trying to make a living from it.
I am get to have any +100000% stories. But I've had good success with mining in general.
Dash. I dunno I like the logo.
My strategies revolve around reading charts, reading articles and listening to at least 10 people who disagree with me before I make any move.
@cryptoviking, thanks for the input. Their are plenty of pump and dump groups but many are scams and you lose money. Personally, I am starting my own own that benefits everyone and doesn't make it so obvious it's a pump (slow pump followed by quick dump for the group). May I ask what hardware walled and how complicated it is to set up? I want the nano s but hate that I will have to wait three months for it. Your strategies make you sound like me, I am the same way and I am glad you will listen to why a coin is bad before you invest...a great strategy. Good luck with your goals!