Not investing a small amount of monthly salary into crypto seems crazy to me! What is your favourite low-risk* option?
*in relation to other alts
I am looking to buy one of these three on monthly basis.
Below are monthly graphs from coinmarketcap.com - my favourite resource.
Bitcoin (BTC) Pros
- longest history and most widely recognized
- probably will stay a gold standard for a significant time
- can be traded for anything else on most, if not all, exchanges
- easy to buy with fiat $$$
- wallet accessibility
Bitcoin (BTC) Cons
- Possible crash due to recent skyrocket
- Expensive transaction fees
- Slow transactions
Ethereum (ETH) Pros
- second in market cap
- rate of mainstream adoption
- recent price optimism with more potential gains
- relatively underpriced in relation to BTC?
- recent boom in volume
Ethereum (ETH) Cons
- Went up by a lot recently - could go down by a lot soon
- Issues with transactions - I had mine stuck for a day two days ago, nowhere to be found on etherscan - resolved by itself
Litecon (LTC) Pros
- @kingscrown likes it :)
- seems like low price now, in relation, about 10X to ETH, 100x to BTC
- potential for taking over bitcoin - similar in positive aspects
Litecon (LTC) Cons
- possible price stagnation?
Which to buy right now?
I am torn between Litecoin and Ethereum on Coinbase. Prices in the first picture are what I found there today.
So far I have been buying only BTC directly. Probably like most young adopters. :)
I know little about any of these. What I wrote is intuitive understanding of a newbie in crypto. I urge you to correct me on any point.
The plan is to edit this post with your comments after 6 days to get clearer, more comprehensive picture. I hope it helps people looking for quick, verbose, digestible pointers on investing!
If you feel you are down on your luck it might help to check out @meesterboom’s post: Crypto-trading fundamentals
How to make letters so small? Ask me in chat room! Let’s hang out!