Crypto Investing - Best Buy With Fiat Money: Bitcoin, Ethereum or Litecoin? - Poll and Discussion
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
- volume
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
Buy BTC with Coinbase. You and I both get 10$ for free if you use this link and buy 100$ worth of BTC.
How to make letters so small? Ask me in chat room! Let’s hang out!
Do you really think that LiteCoin will overtake Bitcoin ? Do you know how many Litecoin were mined since start this would be a nice information :)
Lots of stuff people say these days. From what I understand the idea behind both is similar. But I can't argue finer points...
Which LiteCoin Wallet are you using? :)
Poloniex :) And Coinbase on standby
Can we trust Poloniex ? I'm new in the business and don't know who can I trust and who not. So I tried Poloniex but I don't want to let my money there ^^'
Absolutely, I use bittrex though as it is never down for me.
No, it is never smart to leave your money on an wxchange
Well... I asked them for Level two verification over two weeks ago and nothing yet. There is a heavy load of new users it seems and their support sucks. On the other hand there is the volume and their interface which is great. Sometimes they get a DDoS attack which can benefit you if you put low buying orders. Everyone starts to panic then. It can be funny to watch the trollbox :) So, mixed bag. Divide some money on other exchanges t be safe. How very rich people deal with 2k$ withdraw daily I can only guess...
I would try with some unknown and cheap.
I do have some, but I am terrified of delisting though! Eeek
Well. Maybe not too unknown.
I go for the 'middle' volume with fingers crossed :)
I might be biased but LTC is underrated and it will be going to catch up pretty soon.
I'm leaning towards it as well. ;)
Haha happy to hear it but how come this change happened buddy :)
Well... There is a hype about ETH at the moment so buy something else... Hehe
ETH is rising a lot, but it might be just a hype as you said. :)
Your on the right track...u should definitely consider moving along to gdax which is part of coinbase if you haven't already, you can save alot on fees and you have alot more control for when you buy.. and for how much. Also I hear bittrex and bitfinex are great forbtrading alt coins the latter having some issues lately ...happy trading..cheers
Wow, I wrote this? Seems like years ago...
You should ALWAYS look at the charts Asset vs BTC. What matters is to have more BTC at the end of the day. Since bitcoin doubles every year, no matter what happened in between; Don't let you fool by X vs USD prices. USD is constantly loosing value, YoY. Very important.
Great advice! I agree! Buy then sell when doubles, eh? Rinse, repeat! :)
Thanks for such an interesting discussion. I'm new to cryptocurrencies, but an old, old hand at stock and commodity trading.
I made my first buy of BTC on coinbase a couple of weeks ago and am hooked.
Now to answer your question: I'm loading up on LTC because my trader's intiution is blaring that this is under priced and about to explode. Please don't take this as financial advice, because I'm just writing an opinion.
I agree. My spider sense is tingling too! :D
great...your post deserve upvote and resteem...
Much obliged. Will look at yours!
Hey! Post something! :D
okay will post...today...thanks
https://steemit.com/father/@lautenglye/father-day
my latest post...thanks.
....ok I am over my head here...
I am not a computer person, these thing drive me crazier..lol..
but I am trying to not get left any further behind...
I am trying to figure out some things...
3.Q. which 5-10 coins would you invest in? ...
I would really like to invest in to some of these crpto coins ...but IDK were to begin ...I know I have already missed out on millions in ignorance,and inability... please help me!
namaste
...like I said these things drive me crazy..I am not a tech or computer person... never used reddit,do not have twitter,...just a dinosaur trying to keep from going extinct ..lol..I keep crashing this thing...still trying to find the steering wheel,clutch,and accelerator..so to speak..I need one that self drives...lol...
I hear that are faster better ways,...doing my best..LOL...
I have been following the bitcoin trend(?), and trying to understand this frontier, but it is digital and not easy for me to understand...
It would take me weeks of research to figure this out...but some one already knows,..just looking for answers for dummies...
thank you for your suggestions . I will follow as best as I can.
namaste
I've been researching here and on Youtube, as I'm about to make my first crypto purchases. There's tons of info in both places. Youtube helped me figure out how to use Bittrex to buy alt coins, and Steemit has helped me learn which ones are the best buys for my budget, with the possibilities of the biggest returns. My goal (well, my first goal....if it goes well, I'll make more) is to pay my mortgage every month by investing in crypto. Then, conquer the world. ;)
Awesome nice post. Following you. Follow back if you want to see some crypto trades
Who could resist! :)
Here is another play to consider, I think this Bitcoin related stock will be significantly higher, it already is since I penned this quick report as a Bitcoin stock speculation. Would sincerely love to hear your input. I tried to warn people of the risks, while at the same time point out the potential as these cryptos keep exploding higher, as there really are very few 'crypto stocks' out there, this may prove a unique opportunity.
https://steemit.com/bitcoin/@motowngold/bitcoin-services-btsc-a-rare-bitcoin-stock-that-may-be-a-great-opportunity
Hard to say. Way over my head! :D Anyone?