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Best crypto to sit on for a while

  • 25-12-2020 2:00pm
    #1
    Registered Users Posts: 205 ✭✭ daveville30


    Hows things being buying crypto to hold for a few years. Mostly ethereum and ethereum classic.any others worth taking a punt on.


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Comments

  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 59,698 CMod ✭✭✭✭ unkel


    What's your aim? The bigger the coin, the less risk. Although everything in crypto is risky. The only coin less risky than Ethereum is Bitcoin itself. If you want more risk and potentially a bigger reward, look into other altcoins

    No matter what you do, I would only invest as much money as you are willing to completely lose (worst case scenario) without it having a big impact on your life.

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



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


    My picks would be $ZIL, $DGB, $THETA/$TFUEL

    $ZIL staking if you want it as a long term has huge returns especially in the next 10 months while gZil is being offered aswell


  • Registered Users Posts: 691 ✭✭✭ jmlad2020


    Bitcoin, Ethereum and Monero are the less risky choices I'd say.


  • Registered Users Posts: 205 ✭✭ daveville30


    Have about 250 in crypto atm was going to keep buying until I have about 1000 and just sit and wait hope there is another bubble


  • Registered Users Posts: 140 ✭✭ vmb


    USDT (just kidding)


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  • Registered Users Posts: 24 ✭✭✭ Lexio7


    BTC, ETH, LINK, SNX

    The bulk of the portfolio is BTC


  • Closed Accounts Posts: 39 ✭✭✭ Dnxncofiruwvx


    jmlad2020 wrote: »
    Bitcoin, Ethereum and Monero are the less risky choices I'd say.

    Yeah pretty much this. Any of these coins are your best bet to maintain and grow wealth. At this point, probably ETH to get the best risk/ reward ratio.


  • Registered Users Posts: 205 ✭✭ daveville30


    That's what I was thinking if it went to 1500 like it did few years ago it be good payout only around 500ish now


  • Registered Users Posts: 17,323 ✭✭✭✭ Thargor


    ETH Classic is a dead duck imo but who knows anything.


  • Registered Users Posts: 644 ✭✭✭ hurikane


    $COVAL


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  • Registered Users Posts: 32,589 ✭✭✭✭ BorneTobyWilde


    I could never get my head around buying crypto currency. And if you ask someone they act all high and mighty like it's top secret.


  • Closed Accounts Posts: 1,297 ✭✭✭ Gooey Looey


    I could never get my head around buying crypto currency. And if you ask someone they act all high and mighty like it's top secret.

    It's pretty easy these days, all the exchanges have apps you can do it all on your phone


  • Registered Users Posts: 1,138 ✭✭✭ Del Griffith


    ETH 2.0 is the obvious and clear answer for this situation.
    Stake on Kraken and forget.


  • Registered Users Posts: 2,525 ✭✭✭ Irish_rat


    I could never get my head around buying crypto currency. And if you ask someone they act all high and mighty like it's top secret.

    You can literally setup an account in minutes on coinbase with id and proof of address. Not rocket science.


  • Registered Users Posts: 2,525 ✭✭✭ Irish_rat


    Hows things being buying crypto to hold for a few years. Mostly ethereum and ethereum classic.any others worth taking a punt on.

    Dyor but my personal choices and portfolio:

    btc, eth, link, dot, ada, monero, theta. All are top 25 market cap as of now.

    Agreed on eth classic, would avoid.


  • Registered Users Posts: 205 ✭✭ daveville30


    Irish_rat wrote: »
    Dyor but my personal choices and portfolio:

    btc, eth, link, dot, ada, monero, theta. All are top 25 market cap as of now.

    Agreed on eth classic, would avoid.

    Chainlink


  • Registered Users Posts: 24 ✭✭✭ Lexio7


    I could never get my head around buying crypto currency. And if you ask someone they act all high and mighty like it's top secret.

    It’s pretty straight forward once you are registered with an exchange and have made your 1st purchase.

    Most newbies will use Coinbase to get into the crypto space.

    Lots of good info on Reddit and no shortage of help websites when google searching


  • Registered Users Posts: 691 ✭✭✭ jmlad2020


    I could never get my head around buying crypto currency. And if you ask someone they act all high and mighty like it's top secret.

    Funny, buying shares is more complicated. Crypto is easy. You have just been asking some unhelpful prick


  • Registered Users Posts: 32,589 ✭✭✭✭ BorneTobyWilde


    It's pretty easy these days, all the exchanges have apps you can do it all on your phone
    Irish_rat wrote: »
    You can literally setup an account in minutes on coinbase with id and proof of address. Not rocket science.




    Ahh but then you heard 101 stories about how to store them? I would LOVE to get on the Crypto train, but I'll openly admit I know ZERO about it. And when you do read up on it, it's a sea of contradiction.

    Everyone disagrees on everything. There are no rules it seems.



    OKay less put 2k on the table. HELP.
    Where would be a good place to invest... Can PM me if need


  • Closed Accounts Posts: 1,297 ✭✭✭ Gooey Looey


    Ahh but then you heard 101 stories about how to store them? I would LOVE to get on the Crypto train, but I'll openly admit I know ZERO about it. And when you do read up on it, it's a sea of contradiction.

    Everyone disagrees on everything. There are no rules it seems.



    OKay less put 2k on the table. HELP.
    Where would be a good place to invest... Can PM me if need

    Get the Crypto.com app, sign up and verify. Do a SEPA bank transfer of the 2k from your account, it will take a day or two for the first transfer. (Edit you can also just buy in the app with your visa card if you don't wish to bank transfer) Then buy Bitcoin (it would be wise to wait for the next time it drops, always buy in the dip) and then put it in Earn for 3 months to get a 6.5% APY return on it. Your return will be weekly in a crypto called CRO, convert it every so often into Bitcoin or else build up a pile and stake it to get a visa card that gives cashback. I myself have the indigo card for 3% cashback and free Netflix and Spotify

    Use my referral link https://crypto.com/app/kubfxnh2ax to sign up for Crypto.com and we both get $25 USD :)
    https://help.crypto.com/en/articles/3579328-the-crypto-com-app-user-guide
    https://help.crypto.com/en/articles/2996965-crypto-earn-how-does-it-work
    https://crypto.com/en/cards.html

    This gives you your initial investment and 3 months to figure things out. You can go for another 3 months or can transfer your bitcoin when your 3 months earn is up. I've moved mine to another app called Celsius as the rates are pretty similar but I still use crypto.com to buy, then transfer

    Join Celsius Network using my referral code 190386fd85 when signing up and earn $20 in BTC with your first transfer of $200 or more! #UnbankYourself

    https://celsiusnetwork.app.link/190386fd85


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  • Registered Users Posts: 32,589 ✭✭✭✭ BorneTobyWilde


    Get the Crypto.com app, sign up and verify. Do a SEPA bank transfer of the 2k from your account, it will take a day or two for the first transfer. (Edit you can also just buy in the app with your visa card if you don't wish to bank transfer) Then buy Bitcoin (it would be wise to wait for the next time it drops, always buy in the dip) and then put it in Earn for 3 months to get a 6.5% APY return on it. Your return will be weekly in a crypto called CRO, convert it every so often into Bitcoin or else build up a pile and stake it to get a visa card that gives cashback. I myself have the indigo card for 3% cashback and free Netflix and Spotify

    Use my referral link https://crypto.com/app/kubfxnh2ax to sign up for Crypto.com and we both get $25 USD :)
    https://help.crypto.com/en/articles/3579328-the-crypto-com-app-user-guide
    https://help.crypto.com/en/articles/2996965-crypto-earn-how-does-it-work
    https://crypto.com/en/cards.html

    This gives you your initial investment and 3 months to figure things out. You can go for another 3 months or can transfer your bitcoin when your 3 months earn is up. I've moved mine to another app called Celsius as the rates are pretty similar but I still use crypto.com to buy, then transfer

    Join Celsius Network using my referral code 190386fd85 when signing up and earn $20 in BTC with your first transfer of $200 or more! #UnbankYourself

    https://celsiusnetwork.app.link/190386fd85


    Is Bitcoin the wise choice when so high. I thought it would be best to buy some of the mentioned crypto mentioned in thread, as a shot to nothing, or potential huge gains.


  • Closed Accounts Posts: 1,297 ✭✭✭ Gooey Looey


    Is Bitcoin the wise choice when so high. I thought it would be best to buy some of the mentioned crypto mentioned in thread, as a shot to nothing, or potential huge gains.

    A shot to nothing, you mean take a major gamble? I thought you wanted an investment? If you plan to keep for a few years then bitcoin is the one you can trust to go with. Everything is pumping at the moment because of Bitcoin.


  • Registered Users Posts: 205 ✭✭ daveville30


    I've swapped most of my coins for ethereum yesterday seems to be a wise decision portfolio is up 20 euro since last night


  • Registered Users Posts: 2,525 ✭✭✭ Irish_rat


    Ahh but then you heard 101 stories about how to store them? I would LOVE to get on the Crypto train, but I'll openly admit I know ZERO about it. And when you do read up on it, it's a sea of contradiction.

    Everyone disagrees on everything. There are no rules it seems.

    OKay less put 2k on the table. HELP.
    Where would be a good place to invest... Can PM me if need

    Open Coinbase app, take a photo of your id and 3 months statement of address.

    Buy about 20-50 quid a week on whatever you like, maybe eth. Don't worry about buying fractions it will all add up eventually.

    If you have a laptop download a node like Theta edge node and earn crypto for free by sharing your bandwidth and pc power. It's good to actually be involved in a project too, you learn a lot of in-house things and join telegram groups to be part of the community.

    Use the brave browser to earn free bat. Also its the best out of box browser out there for privacy and add blocking

    As you get more confident, ditch coinbase and use binance. Don't use crypto.com. Best of luck, it's not exactly early days but a long way to worldwide adoption yet.


  • Registered Users Posts: 475 ✭✭ baalad


    I am in the process of researching and educating myself about crypto. Was so close to jumping on the bandwagon 3 or 4 years ago and i wish i did in hindsight but better late then never i guess. I cannot help but be extremely confused with the amount of different advice given with regards to everything crypto related but if you plan to invest in crypto for the long term then am i right in saying that its really as simple as buying some bitcoin or whatever cryptocurrency you want. Transfer it to a secure wallet and pretty much walk away and leave it sit for a few years and hope for the best ??


    Or am i missing something?


  • Closed Accounts Posts: 1,297 ✭✭✭ Gooey Looey


    baalad wrote: »
    I am in the process of researching and educating myself about crypto. Was so close to jumping on the bandwagon 3 or 4 years ago and i wish i did in hindsight but better late then never i guess. I cannot help but be extremely confused with the amount of different advice given with regards to everything crypto related but if you plan to invest in crypto for the long term then am i right in saying that its really as simple as buying some bitcoin or whatever cryptocurrency you want. Transfer it to a secure wallet and pretty much walk away and leave it sit for a few years and hope for the best ??


    Or am i missing something?

    These days there are plenty of places that give a decent return of you leave it with them in Earn. Crypto.com, Celsius, BlockFi, Nexo all offer different deals and have pretty similar rates.

    Coinbase fees are high and you cannot stake or earn (yet). I started with coinbase but moved elsewhere quickly.


  • Registered Users Posts: 475 ✭✭ baalad


    These days there are plenty of places that give a decent return of you leave it with them in Earn. Crypto.com, Celsius, BlockFi, Nexo all offer different deals and have pretty similar rates.

    Coinbase fees are high and you cannot stake or earn (yet). I started with coinbase but moved elsewhere quickly.

    I set up an account on binance as the fees with coinbase were a bit too much! Looking at buying ETH and storing it in a wallet and leaving it there.

    Seems simple enough but every time i read up on crypto it seems to be confusing, panic etc etc

    Of course making a profit might not be easy but in terms of holding there is not a lot to do only buy, store and wait, right??

    Or should i be doing more? Am i missing something or what lol


  • Closed Accounts Posts: 1,297 ✭✭✭ Gooey Looey


    baalad wrote: »
    I set up an account on binance as the fees with coinbase were a bit too much! Looking at buying ETH and storing it in a wallet and leaving it there.

    Seems simple enough but every time i read up on crypto it seems to be confusing, panic etc etc

    Of course making a profit might not be easy but in terms of holding there is not a lot to do only buy, store and wait, right??

    Or should i be doing more? Am i missing something or what lol

    That's pretty much it if you plan to withdraw to a wallet. I leave mine in earn and add to it monthly. Everyone has a different plan


  • Registered Users Posts: 475 ✭✭ baalad


    That's pretty much it if you plan to withdraw to a wallet. I leave mine in earn and add to it monthly. Everyone has a different plan

    Ok so even if you plan to hold theres different options as well? I thought anyone investing long term was just buying, transferring to wallet and that was it.

    When it comes to trading, mining etc i can see how it can be complicated but anyone investing long term i imagine would be best to just spend what they can afford on buying whatever coin the feel will grow (do some research on various coins etc) but other then that its just a matter of making your investment and storing it in a wallet and then being patient for a few years!

    If in a few years it is worth a fortune then how do you go about cashing in? If you have sell to an exchange then your surely going to lose most of any profit through fees and tax etc and if you decide to sell to another trader / investor then your surely leaving yourself open to being conned unless your extremely clued in technology wise which most investors probably are not.

    As i said. I am still educating myself so right now im clueless but it seems like investing is the easy part. Turning your investment into physical cash in hand seems to be the hard part.


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  • Closed Accounts Posts: 1,297 ✭✭✭ Gooey Looey


    baalad wrote: »
    As i said. I am still educating myself so right now im clueless but it seems like investing is the easy part. Turning your investment into physical cash in hand seems to be the hard part.

    That's exactly what we al are trying to figure! You could be liable to capital gains tax on any profit you turn back into cash. I don't know too many that have an exit strategy.


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