yeah, but i'm not really in it for the long term, i'm day trading and wanting to snatch a quick 15% gain in a day or 2. Already got some long term investments, but I like to day trade on the side.
Daytrading is tempting to do, but honestly in my experience it is much better to do medium to long term trading in this market. The trading bots and whales will outperform you at daytrading and leave you holding overpriced coins, whilst it is much easier to recognize good potential crypto's that are almost destined to bring you 5-10x gain at much less effort and stress. I personally recommend investing atleast 50% in long term, putting 25% as reserve in case you spot superb buying opportunities, and use at most 25% for daytrading. This way you get the best of all worlds and see which will net you the most over time.
I understand, that is how I started. But I don't recommend it. I made about 30% on my portfolio in a month by doing it. When I stopped, did some serious research on which coins to pick, and instead went for a medium-term hodl, I have since tripled the worth of my entire portfolio in Bitcoin worth. Anything that is destined to go up in the long run, is a safe market to play in too, because even if you end up holding the bag you can rest assured that one day, the price will be up again.
Additionally, you can get free LBRY credits if you sign up with your credit card for a beta account. Beta indicates a release might be upcoming, and you can try out the product. I've received a newsletter which pays you some LBRY credits to watch movies on LBRY too. I didn't do it because I don't want to link my creditcard but others have and it appears to be legit. I consider LBRY to be an interesting investment too btw. I am about 5% of my portfolio in LBRY credits. It's interesting because it has a small market cap, so it has a high chance of multiplying.
There may be other options to get free coins here and there too, which will help you with an initial boost!
yeah, but i'm not really in it for the long term, i'm day trading and wanting to snatch a quick 15% gain in a day or 2. Already got some long term investments, but I like to day trade on the side.
Daytrading is tempting to do, but honestly in my experience it is much better to do medium to long term trading in this market. The trading bots and whales will outperform you at daytrading and leave you holding overpriced coins, whilst it is much easier to recognize good potential crypto's that are almost destined to bring you 5-10x gain at much less effort and stress. I personally recommend investing atleast 50% in long term, putting 25% as reserve in case you spot superb buying opportunities, and use at most 25% for daytrading. This way you get the best of all worlds and see which will net you the most over time.
that is good advice, but my day trade account and my long term account are seperate, i only day trade with 91$ and want to work my way up over time
I understand, that is how I started. But I don't recommend it. I made about 30% on my portfolio in a month by doing it. When I stopped, did some serious research on which coins to pick, and instead went for a medium-term hodl, I have since tripled the worth of my entire portfolio in Bitcoin worth. Anything that is destined to go up in the long run, is a safe market to play in too, because even if you end up holding the bag you can rest assured that one day, the price will be up again.
Also, if you have only a small fund to invest with, be on the lookout for free cryptocurrency. You'll be able to sell it for the cryptocurrency of your choice. Sometimes you can get crypto for free when new cryptocurrencies launch. For example WCX tokens, you can get about $5 worth of them and I imagine they will be worth more when the ICO starts in 2 months and trading begins in october. Could end up being free $50 for all I know. Go check it out:
https://steemit.com/cryptocurrency/@pandorasbox/wcx-decentralized-cryptocurrency-exchange-20-of-transaction-fees-paid-out-in-dividends-to-token-holders-get-50-free-tokens-link
Additionally, you can get free LBRY credits if you sign up with your credit card for a beta account. Beta indicates a release might be upcoming, and you can try out the product. I've received a newsletter which pays you some LBRY credits to watch movies on LBRY too. I didn't do it because I don't want to link my creditcard but others have and it appears to be legit. I consider LBRY to be an interesting investment too btw. I am about 5% of my portfolio in LBRY credits. It's interesting because it has a small market cap, so it has a high chance of multiplying.
There may be other options to get free coins here and there too, which will help you with an initial boost!