£300 to spend on Bitcoin or EthereumsteemCreated with Sketch.

in bitcoin •  2 years ago

I don't have much spare cash & what I do have is what remains from a £7000 loan I took out recently (total interest of £500 over 5 years) to pay off credit cards, but I want to put a little bit into either BTC or ETH.

I've got a Coinbase account set up with a weekly limit of £325 so I can either buy approx 0.14 BTC or approx 1.8 ETH as of now.

I bought a BTC when they were £100 & sold £650 so can't really moan but it is galling to be thinking about spending three times as much now for way less than half as much BTC as I got back then (it wasn't even that long ago in the scheme of things)

I also bought 0.5 ETH (£100 at the time) worth of EOS tokens during the initial 5 day period so have 154 EOS in my wallet which is one of the reasons I'm wondering about about buying ETH.

Many people seem to think EOS might be a ETH killer for all sorts of reasons & others are writing that the sheer number of ICO's happening are going to cause a bubble.

If I'm being sensible I think I should invest in a bit of BTC. The signs are that the majority have accepted the proposed changes due on August 1st & this should increase confidence & reliability I think.

Excuse my non technical wooly language on this. I'd have to do a Google search to find the correct terminology ("segwit" comes to mind) & what exactly was happening & I want to buy soon (my girlfriend might not be on board for long).

BTC or ETH? Or something else entirely (although in reality LTC is the only other option in Coinbase)

Thanks for reading.

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for long term investment, which I think you are wanting to do, ETH would be a better go. But short term return and quick investment, then go with BTC. Good luck.

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I agree. Also good luck and carefulness.

Hello jimbobbill.

You have asked a million dollar question, here. I think that there are 100 people or more that have a similar question outside of SteemIt.

My best answer is to split what you can safely exchange (money you WILL NOT NEED) for at least nine months almost equally, but a bit more on bitcoin.

Ethereum is good or hopeful but bitcoin was the first to be accepted.

Also, there is a Chinese version of Ethereum called ANT or NEO that we have not witnessed much processing for or seen where ANT-NEO smart contract
system may do.

Don't trade more than you can lose or spend and still pay your bills.

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Thanks for the reply. I was only looking at ANT and NEO yesterday. There are so many different cryptocurrencies now with more being created on a seemingly daily basis that it is hard to keep on top of them all. Your advice to split some money between ETH and BTC is good. I've still not bought either yet however.

People are always looking for "the next Bitcoin", but I think that the next currency to boom will be Bitcoin itself. The name is well known amongst non-crypto investors, it's in the mainstream news almost daily, many stores in Japan have started accepting it, new crypto exchanges in China and South Korea are driving demand, and all of that is without even factoring in Segwit2x...

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Thanks for the reply. I tend to agree with you on this. I read stories every day about more acceptance of Bitcoin. I should have kept my 1BTC come rain or shine as I originally said when I bought it but I didn't have the balls (plus the £650 came in handy when I cashed out). If I really had balls I would have invested £1000 when BTC was £100 but it would have meant borrowing money from a relative (that I was holding in my bank) & didn't want to risk it.

This post has received a 3.38 % upvote from @booster thanks to: @jimbobbill.

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