Being in this state, where I feel I think its time I start investing in crypto. I have done my research and I have accessed my risk and possible reward, but then, how much is decent enough to start as a newbie? Crypto has those assets that won’t give you so much profit but there are less risky compared to others, these cryptos are coins like Bitcoin, Ethereum, or one of those top coins out there. These coins have gained some level of balance and usage that it only takes a huge negative impact in the crypto world to get them crashing, but other coins like the memecoins are really not that safe but they can make you some quick money. Its quite tempting, but will that be the path I will like to follow, I don’t think so. I check a lot of people’s wallets here on Hive and I see how much they have in their wallet, that is a lot of money, you guys really trust crypto this much to invest so much in it like this? How can someone invest over $200k on crypto, that is a lot of money. I don’t have that amount of money right now to invest in crypto. Imagine being a crypto newbie and you have that money at your disposal, would you invest that in crypto right away? Will it be considered a wise decision? I believe it will be considered a wise decision if the investment yields profit, but if it doesn’t, then its a foolish decision.
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As a crypto newbie, it will be advisable to invest so little, not your entire savings, money that won’t affect you badly if yo lose it. So its possible you invest with 10% of your worth, you could go lower, 5% seems fair. If you are worth $1,000 you can invest $50 - $100 in crypto. This way the risk would be fair. If it doesn’t work out as expected, you can easily click on that reset button and rest your life. Where do you invest that money into, what coin do you invest in? For security and safety, you can choose bitcoin or ethereum, I have fallen in love with Hive, so I will consider investing some money into Hive. Though its small, but I feel quite okay investing here. There are Hive engine tokens on Hive that you can consider, like LEO, we can also earn from investing which is through curation rewards. I have checked a lot of coins and analysed their charts, most of these coins have gone down compared to the price they were two years ago, heard its because of the bear market, does that mean they will ever get to that price again? looking at the chart history of bitcoin and Ethereum, I think they would get to that price again. So dont forget, invest 5 - 10% of your net worth just to be safe.
Posted Using LeoFinance Alpha