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€2000 for speculative purchase

  • 01-12-2017 6:38am
    #1
    cherrytaz
    Registered Users Posts: 481 ✭✭


    Hi all

    I already have BTC and ETH and don't wish to put in anymore at this time. I do however have €2000 that I'd like to spend on some of the other coins. This is purely speculative, high risk and is cash I am willing to lose.

    Looking into maybe a 3/4 way split with possibly Litecoin, Ripple, Monero. Any suggestions for the best use of this €2000 in cyrptos?

    Cheers


Comments

  • #2
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    Ripple is one of those coins that will take time to build up, it just needs adoption by banks. Eventually we'll hear news about how it's taking a percentage of transfers from Swift and that a large amount of those transfers are saving money by using XRP, then it'll rocket each time one of those announcements happen - but you have to be okay with waiting until that happens.

    Monero and IOTA are relatively safe picks. I'll keep buying Monero while it's under $500 (whilst keeping in mind that it's the most likely to have you audited or investigated if you buy a lot of it from an exchange with KYC) and IOTA while it's under $4.

    I'd go 50% Monero, 40% IOTA and put the last 10% into some moonshot coin where I see 5-10x as an absolute minimum within 6 months. Most ICOs with big names involved have crazy initial caps that need you to believe they'll become 500m-1b to make sense in investing (looking at you if your ICO sells out, NAGA!)

    The growth of the whole market could render tying money into a small-time alt like that fairly useless - Monero or IOTA could easily 5x in that time, but that's the risk you take for something that might 10x or more.

    That moonshot coin really has to be found by you as anybody recommending one of those is going to come across as the shilliest shill this side of Shillbyville.

    Assess the developers, the business model and the use of the token. If there's even a slight maybe about one of those don't bother unless you want to get into trying to trade your way out of a possible mess.


  • #3
    McCrack
    Registered Users Posts: 2,968 ✭✭✭McCrack


    Im optimistic for Red Pulse (RPX) - it has get to hit the main exchanges

    Currently selling at just under 4 cent on Kucoin


  • #4
    KilOit
    Registered Users Posts: 2,983 ✭✭✭KilOit


    Wouldn't consider high risk coins that are in the billions already
    My high risk coins are ENG, REQ and OCL,, made good money on ENG already after bittrex listing, OCL has a tiny mc with little trading volumn but if it ever gets a good exchange it'll rocket. All coins have decent devs that update the community a lot. 100€ on each of them during dips so no biggie if they flop


  • #5
    jobless
    Registered Users Posts: 2,183 ✭✭✭jobless


    my 2 cent....

    lisk.... priced around 7 dollars now.... its high was 11 but dropped back down when they pushed out the date of rebranding til feb.... i fully expect it to reach this price and beyond in 2018... they have a large amount of funding from their ICO and a growing development team.

    powerledger..... a low price at the moment but looks to have a good future if they stick to the timeline they have.... backed by the Aussie government with a grant of 8million


  • #6
    SkySter
    Registered Users Posts: 828 ✭✭✭SkySter


    jobless wrote: »
    my 2 cent....

    lisk.... priced around 7 dollars now.... its high was 11 but dropped back down when they pushed out the date of rebranding til feb.... i fully expect it to reach this price and beyond in 2018... they have a large amount of funding from their ICO and a growing development team.

    powerledger..... a low price at the moment but looks to have a good future if they stick to the timeline they have.... backed by the Aussie government with a grant of 8million

    +1 on Lisk. Definitely one to keep and eye on.

    NEO is also very cheap at the moment.


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  • #7
    ZeroThreat
    Registered Users Posts: 2,180 ✭✭✭ZeroThreat


    SkySter wrote: »
    +1 on Lisk. Definitely one to keep and eye on.

    NEO is also very cheap at the moment.

    Mainly due to the Chicom party...


  • #8
    jon1981
    Registered Users Posts: 4,359 ✭✭✭jon1981


    Out of interest, where are you guys hearing about all these coins? Hours of dedicated research or is there some useful notifications I should be signing up to?


  • #9
    annie.t
    Registered Users Posts: 295 ✭✭annie.t


    For small investment of couple of hundred might want to check out SNC. This still has very very small market cap so be prepare to loose money as usuall


  • #10
    jobless
    Registered Users Posts: 2,183 ✭✭✭jobless


    jon1981 wrote: »
    Out of interest, where are you guys hearing about all these coins? Hours of dedicated research or is there some useful notifications I should be signing up to?

    youtube/reddit and then some investigation myself.... at the end of the day its a complete lottery with most of them....

    I like lisk long term because they seem to be trying to do things the right way... very transparent with youtube meetups, hiring actual branding companies whove worked with other big name companies... who knows what the future holds thought....

    ripio credit network is another ive my eye on at a very low price...


  • #11
    cherrytaz
    Registered Users Posts: 481 ✭✭cherrytaz


    Thanks all for the advice . Some background reading to be done before investing. One of my biggest worries is the use of wallets. I have previously got hacked on bittrex (partly my own fault). I now store my eth and btc on jaxx until my nano s arrives hopefully next week. It doesn't currently support all of the above coins so will need to manage that accordingly.


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  • #12
    cherrytaz
    Registered Users Posts: 481 ✭✭cherrytaz


    McCrack wrote: »
    Im optimistic for Red Pulse (RPX) - it has get to hit the main exchanges

    Currently selling at just under 4 cent on Kucoin
    Out of curiosity, what wallet are you uding for this? I see it is a product of neo but doesn't seem to be supported by nano s yet


  • #13
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    cherrytaz wrote: »
    Hi all

    I already have BTC and ETH and don't wish to put in anymore at this time. I do however have €2000 that I'd like to spend on some of the other coins. This is purely speculative, high risk and is cash I am willing to lose.

    Looking into maybe a 3/4 way split with possibly Litecoin, Ripple, Monero. Any suggestions for the best use of this €2000 in cyrptos?

    Cheers

    Why not buy a GPU mining rig instead. One of these link


  • #14
    GreeBo
    Registered Users Posts: 27,003 ✭✭✭✭GreeBo


    Shauny2010 wrote: »
    Why not buy a GPU mining rig instead. One of these link

    Interesting approach alright, but I'd want an idea of the noise and running costs involved before I dropped €2K on it.
    2000W PSU's are going to eat a lot of electricity running 24/7

    Though this time of year would be an extra heating source :D


  • #15
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    GreeBo wrote: »

    Though this time of year would be an extra heating source :D

    Exactly :D


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