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I'm thinking of investing €1000 -- any advice?

  • 26-09-2019 2:59pm
    #1
    Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    I'm looking to punt 1k on crypto but have no idea where to start.

    Which top 20 crypto is a good option for a complete novice?

    A coin with a debit card would be cool.

    Thoughts on IOTA?

    Thank you very much for any information.

    FT


«1

Comments

  • Registered Users Posts: 6,796 ✭✭✭ Grumpypants


    Bitcoin is the only game in town. Maybe Etherium. Buy €700 in bitcoin and 300 in ETH on coinbase.


  • Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    Bitcoin is the only game in town. Maybe Etherium. Buy €700 in bitcoin and 300 in ETH on coinbase.

    Thanks a lot for the info Grumpypants. Is there a reason you recommend coinbase as opposed to kraken? The latter has much lower fees.


  • Registered Users Posts: 6,796 ✭✭✭ Grumpypants


    Thanks a lot for the info Grumpypants. Is there a reason you recommend coinbase as opposed to kraken? The latter has much lower fees.

    Krakan has been a pain when things get busy it goes down. If you need to sell or buy at a time when things are going up/down and it is offline you could lose a nice chunk.

    You can do a SEPA transfer to Coinbase then move the money to Coinbase pro to trade. The fees are much better there than buying via the coinbase App/website (which are very high).


  • Registered Users Posts: 19 GwaneTIme


    If I had 1000$, I would invest them in other currencies


  • Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    GwaneTIme wrote: »
    If I had 1000$, I would invest them in other currencies

    Do you mean like the Swiss Franc or US dollar? I wouldn't really know where to hold the currencies to be honest.


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  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    I currently have a spread across a few different coins
    ICON(ICX), Ether, BAT & Litecoin
    Icon is one I think in 5-7yrs could really take off


  • Registered Users Posts: 7,055 ✭✭✭ JohnnyFlash


    Lex Luthor wrote: »
    I currently have a spread across a few different coins
    ICON(ICX), Ether, BAT & Litecoin
    Icon is one I think in 5-7yrs could really take off

    Ya, it’s only down 98.97% from ATH. Should take off any day now.


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    Ya, it’s only down 98.97% from ATH. Should take off any day now.

    long term


  • Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    Wow, just as I was about to invest things are going tits up.


    I think I'll wait a few days before pulling the trigger. Hopefully BTC drops to 6k so I can catch a nice dip. :o


  • Registered Users Posts: 2,978 ✭✭✭ dashoonage


    Orange is a lovely colour on a lambo.


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  • Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    dashoonage wrote: »
    Orange is a lovely colour on a lambo.


    I'll settle for a used Toyota Corolla in reasonable condition. :o


  • Registered Users Posts: 2,978 ✭✭✭ dashoonage


    I'll settle for a used Toyota Corolla in reasonable condition. :o

    Jesus thats way too safe.....crypto isnt for you my friend.


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    Wow, just as I was about to invest things are going tits up.


    I think I'll wait a few days before pulling the trigger. Hopefully BTC drops to 6k so I can catch a nice dip. :o

    It ain’t going up anytime soon

    Best to hold off and if you can set a limit if it drops more to buy on the way up you should do ok


  • Closed Accounts Posts: 4,791 JJJJNR


    Divide the 1k between the top ten, just take it it all could go to zero.


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    When bitcoin moves the rest follows


  • Registered Users Posts: 7,055 ✭✭✭ JohnnyFlash


    Sifan Hassan running in the women’s 10000m race in Doha. 5/4 with William Hill. Fill your boots.


  • Closed Accounts Posts: 4,791 JJJJNR


    Lex Luthor wrote: »
    When bitcoin moves the rest follows

    Not necessarily, 2017 alt coin pump happened when bitcoin was dropping due to excessive fees and laggy transactions.


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    ICX ICON had a really good 24hr


  • Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    Lex Luthor wrote: »
    ICX ICON had a really good 24hr


    ?u=http%3A%2F%2F4.images.southparkstudios.com%2Fblogs%2Fsouthparkstudios.com%2Ffiles%2F2014%2F04%2F1303-and-itsgone.jpg%3Fquality%3D0.8&f=1&nofb=1


  • Registered Users Posts: 7,055 ✭✭✭ JohnnyFlash


    Sifan Hassan running in the women’s 10000m race in Doha. 5/4 with William Hill. Fill your boots.

    You’d have doubled your money tonight, lad.


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  • Closed Accounts Posts: 3,502 ✭✭✭ Azalea Prickly Fortune-teller


    No right or wrong answers but anything other than Bitcoin and I think its FIAT down the drain (long term).


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    ?u=http%3A%2F%2F4.images.southparkstudios.com%2Fblogs%2Fsouthparkstudios.com%2Ffiles%2F2014%2F04%2F1303-and-itsgone.jpg%3Fquality%3D0.8&f=1&nofb=1

    Stop limits. :p


  • Registered Users Posts: 131 ✭✭ The Haven


    I would Dollar Cost Average in.


  • Banned (with Prison Access) Posts: 439 ✭✭ FutureTeashock


    The Haven wrote: »
    I would Dollar Cost Average in.


    This is a great idea, thanks. Would weekly installments of 50 quid be a good strategy?


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    Cardano


  • Registered Users Posts: 4,655 ✭✭✭ makeorbrake


    @OP:. You should spend some time (a shed load of time) researching the projects that peak your interest. Be mindful of confirmation bias. Be mindful that people backing various cryptos have skin in the game - so you can't possibly assume anything.

    You expressed an interest in IOTA. Run a search - there's a thread on it here. Each crypto has a Reddit group (albeit with very partisan participants).


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    Bitcoin is the only game in town. Maybe Etherium. Buy €700 in bitcoin and 300 in ETH on coinbase.

    +1

    Once you have a full bitcoin and start to have an understanding of this space, you might consider other stuff.

    But until then stick to Bitcoin and maybe some Etherium if you need to have something else.


  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    Bitcoin appears to be in a bit of a grey area at the moment and could go either way
    I'm keeping an eye on it and waiting to see where it goes


  • Closed Accounts Posts: 3,502 ✭✭✭ Azalea Prickly Fortune-teller


    Lex Luthor wrote: »
    Bitcoin appears to be in a bit of a grey area at the moment and could go either way
    I'm keeping an eye on it and waiting to see where it goes

    Are you dollar cost averaging or waiting ?

    Bought some more today, Friday is my SAT day.


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  • Registered Users Posts: 11,195 ✭✭✭✭ Lex Luthor


    Are you dollar cost averaging or waiting ?

    Bought some more today, Friday is my SAT day.

    just sitting tight at the moment and waiting to see what happens

    I think if it starts to make a downward trend below $7700 then its highly likely it will go to 5.5k as there seems to be a lot of support for it in that price range

    Cardano is another one that's on my watchlist

    Took a bit of a hit on most of what I held recently, as did everyone, BAT seems to be making a recovery last 24hrs but who knows


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