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Have 5k to invest in Cryptocurrency

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  • 14-06-2018 3:00pm
    #1
    Trixxxx
    Registered Users Posts: 25 ✭


    hey guys
    currently have 5 k set aside for investment in Crptocurrency , what are my options here ?


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    #2
    Evd-Burner
    Registered Users Posts: 1,456 ✭✭✭Evd-Burner


    Right now is a good time to invest as there has been a dip.

    As a long term crypto investment I would put 20-30% of your funds into Tron. Over the next 2-4 years it should do well if they stick to their plan and market correctly.


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    #3
    Trixxxx
    Registered Users Posts: 25 ✭Trixxxx


    where is the best place to buy from ireland with a stockbroker?


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    #4
    Evd-Burner
    Registered Users Posts: 1,456 ✭✭✭Evd-Burner


    https://www.kraken.com is popular and allows you to send euros to it. But it is limited to what you can buy, a lot of people would buy say etherium in kraken and then transfer to binance.com and buy other alt coins.


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    #5
    Dohnjoe
    Registered Users Posts: 17,775 ✭✭✭✭Dohnjoe


    Trixxxx wrote: »
    hey guys
    currently have 5 k set aside for investment in Crptocurrency , what are my options here ?

    The usual advice is to follow 2 steps

    1. Sign up to a fiat exchange, where you will use cash to buy Ethereum or Bitcoin, examples of fiat exchanges are Coinbase and Kraken

    2. Sign up to a large exchange where you can use your Ethereum or Bitcoin to buy the coins you want

    As to what coins to buy, everyone will give different advice. Some will shill coins they hold, others will promise that X coin is about to take off.

    The best is to start researching yourself, Youtube and Google

    Traditional coins, e.g. Bitcoin, Litecoin
    Ethereum
    Platform coins, e.g. Neo, Ark
    Banking coins, e.g. Ripple
    Chain coins, e.g. Vechain, Walton
    Exchange coins, e.g. Binance, Huobi


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    #6
    fergie223
    Registered Users Posts: 1 ✭fergie223


    Good time to get int. I would go -

    1k EOS
    1K ENJ
    1K ZIL
    1K ETH
    1K POLY OR ELEC


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    #7
    Jcarver
    Registered Users Posts: 21 ✭Jcarver


    Trixxxx wrote: »
    hey guys
    currently have 5 k set aside for investment in Crptocurrency , what are my options here ?

    I would just put it all in C20 - https://crypto20.com/en/
    It is a weighted index fund of the top 20 coins with a weekly rebalance.

    This way you can just sit back and forget about them as it manages itself. This is what I did

    Bibox exchange is your best option to buy them.


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    #8
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    .


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    #9
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Evd-Burner wrote: »
    Right now is a good time to invest as there has been a dip.
    OR the curtain has been pulled back and the market will never see the same investment again, and prices are never going to recover. Calling a dip doesn't mean another bigger 'dip" isn't around the corner.
    Evd-Burner wrote: »
    As a long term crypto investment I would put 20-30% of your funds into Tron. Over the next 2-4 years it should do well if they stick to their plan and market correctly.
    A stranger on the internet has adviced you to invest over a grand into TRX. Someone might as well had suggested you put a grand on Brazil to win the world cup. Crypto is a gamble, not an investment. If it goes wrong, you won't lose 5% you'll lose half it, or all if it's an ICO.

    By all means, take a punt. But recognise it for what it is. A coin toss, not Apple stock.


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    #10
    sabat
    Banned (with Prison Access) Posts: 2,896 ✭✭✭sabat


    The best place to keep your 5k right now is in a deposit account and wait for the impending stock market crash when lots of good companies will have their share price dragged down below true value. Spend the summer doing research and forget about this crypto sh1te.


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    #11
    el diablo
    Registered Users Posts: 5,745 ✭✭✭el diablo


    Evd-Burner wrote: »
    Right now is a good time to invest as there has been a dip.

    As a long term crypto investment I would put 20-30% of your funds into Tron. Over the next 2-4 years it should do well if they stick to their plan and market correctly.

    That is extremely poor advice. Tron more than likely won't exist in 2-4 years time.

    We're all in this psy-op together.🤨



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    #12
    garrettod
    Registered Users Posts: 2,420 ✭✭✭garrettod


    Trixxxx wrote: »
    hey guys
    currently have 5 k set aside for investment in Crptocurrency , what are my options here ?

    Hi,

    First things first, how about a little more information so that we all know where you are coming from:

    - are you prepared to risk losing say 50% of your €5k, in return for the possibility of making significant profits ?

    - how long do you want to invest your money for ?

    - Will it be a problem for you, if you can't get your cash back out at a precise point in time in the future (or are you flexible on when you might cash out) ?

    - do you have other types of investments, so that this €5k only represents a relatively modest part of your overall investments ?

    - do you have any borrowings that cost more than a typical homeloan rate ?

    Thanks,

    G.



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    #13
    RoboRat
    Registered Users Posts: 2,454 ✭✭✭RoboRat


    I'm fairly new to this but I have been watching for around 2 years and was initially put off by how complicated it was to start - although it's a lot easier now and I was also put off by the entire cold wallet/ digital wallet etc. I Purchased a Ledger Nano S and store most of my currency on that.

    I purchase Bitcoin/ Ether through Coinbase as I can do that with my debit card so it's simple.

    I then transfer to Binance to buy stocks that aren't available on Coinbase and transfer these to my ledger.

    I did quite a bit of research and I am only using money that I can stand to lose and I am in it for the long run. My background is in marketing and I have 20 years in that so I tend to see past the snake oil and I am looking for 3 things, (1) what benefits the currency offers (2) the team behind it and (3) the potential for growth.

    I have segregated my investments into 3 tiers, Tier A being the established or something which I see has great technical application - I have chosen Bitcoin 40% and Ether 60%

    Tier B, I feel is good technology, good team and/or good marketing and a reasonable price so the possibility for growth. I have 50% Ripple and 50% NEO

    Tier C, this is more speculative and based off a gut feeling but also research and these would be the currencies with larger growth possibilities. I have MIOTA 50%, Cardano 35% and Tron 15%. These are the markets that I watch the most as I would be more inclined to make a call and move from these if the price was right as I am not as confident in these, yet.

    I have also set a goal as to what I feel will be a good return and if I hit that number, I will make a call as to cash out, partial cash out or hold longer but this will be dependent on the market - it all depends on whether the technology is being adopted but my feeling is that it will be.

    I think that everyone should have an exit strategy, it's good practice as long as you wont be retrospective if the prices go up. The entire point of this strategy is that you walk away happy and understand that it could go either way so there is no point in thinking if you held out, you could have made more because it may go the other way - I did this with my house in 2016, if I held out I could have made €30k - €50k more but I could also have lost this due to Brexit/ Trump etc... nobody has a crystal ball.

    As I said, I'm new to this so take it or leave it and I know that more experienced investors may have a different take on this and I full respect their methodologies.


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    #14
    august12
    Registered Users Posts: 1,275 ✭✭✭august12


    RoboRat wrote:
    I purchase Bitcoin/ Ether through Coinbase as I can do that with my debit card so it's simple.


    Better off transferring money from a Revolut account to coinbase, no fees, then transfer euro from coinbase to Gdax, no fees here either as one and same company, then do limit purchases, no fees here and then transfer ether to Binance to purchase whatever you are interested in, buy one or two bnb coins and set fees to be paid from bnb, this halves your fees,


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    #15
    Pintman Paddy Losty
    Registered Users Posts: 1,913 ✭✭✭Pintman Paddy Losty


    Take your 5 grand and cash it in to 20c coins. Head to the arcades in Bettystown and keep feeding them in to that game where you drop the coin in and then the drawer goes back and forth and the aim is to dislodge other coins.

    You will probably lose your money but at least it will be entertaining and will last quite a while.


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    #16
    ZeroThreat
    Registered Users Posts: 2,180 ✭✭✭ZeroThreat


    sabat wrote: »
    The best place to keep your 5k right now is in a deposit account and wait for the impending stock market crash when lots of good companies will have their share price dragged down below true value. Spend the summer doing research and forget about this crypto sh1te.

    Best advice here.


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    #17
    el diablo
    Registered Users Posts: 5,745 ✭✭✭el diablo


    ZeroThreat wrote: »
    Best advice here.

    I'm detecting a hint of bitterness. Didn't you get into the crypto markets near their all time high and then sell your holdings at a loss?

    We're all in this psy-op together.🤨



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    #18
    Arrival
    Closed Accounts Posts: 779 ✭✭✭Arrival


    Ethereum, Omisego, Bitcoin and if you want a bit of a punt put some into BAT. Do not trade. Do your research and decide how much to put into each of these for your portfolio and HOLD LONG TERM - I'm talking an absolute MINIMUM three years here, no matter what dips and crashes may occur just do not sell. The next halvening for Bitcoin is in two years, you WILL wish to be holding some at least some Bitcoin during this.

    Go ahead and disregard the opinions of any of the fools saying to "ignore this crypto ****e", they're ignorant and most likely old and out of touch - they will be on the wrong side of history for this.
    Evd-Burner wrote: »
    Right now is a good time to invest as there has been a dip.

    As a long term crypto investment I would put 20-30% of your funds into Tron. Over the next 2-4 years it should do well if they stick to their plan and market correctly.

    NOPE

    sabat wrote: »
    The best place to keep your 5k right now is in a deposit account and wait for the impending stock market crash when lots of good companies will have their share price dragged down below true value. Spend the summer doing research and forget about this crypto sh1te.

    He didn't ask this though, did he? Useless post. Do you see the forum you're posting in? That €5k may be pittance to him and he could be looking to simply play around with it and so he's looking for advice from people actually aware about this industry. Back to reading your broadsheets


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    #19
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    Arrival wrote: »
    Ethereum, Omisego, Bitcoin and if you want a bit of a punt put some into BAT. Do not trade. Do your research and decide how much to put into each of these for your portfolio. Go ahead and disregard the opinions of any of the fools saying to "ignore this crypto ****e", they're ignorant and most likely old and out of touch - they will be on the wrong side of history for this.



    NOPE

    TRON. My favourite shîtcoin.


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    #20
    Arrival
    Closed Accounts Posts: 779 ✭✭✭Arrival


    JohnnyFlash wrote: »
    TRON. My favourite shîtcoin.

    ****ing dangerous advice and within one of the first few posts in the thread. Classic. No wonder we've so many bitter people around cryptocurrencies


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    #21
    rapul
    Registered Users Posts: 1,038 ✭✭✭rapul


    Good input Johnny no doubt your on the port again ay? How many times have you been shot down now? Fair dues to Makeorbrake I wouldn't have the patience to reply the same ****e over and over again to you ,your in a league of your own and I dont mean in any good way at all. How can you expect anyone to care about anything you post when every coin is what is it you say a '****coin' ,grow up Johnny and lay off the sauce.


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    #22
    Pintman Paddy Losty
    Registered Users Posts: 1,913 ✭✭✭Pintman Paddy Losty


    rapul wrote: »
    Good input Johnny no doubt your on the port again ay? How many times have you been shot down now? Fair dues to Makeorbrake I wouldn't have the patience to reply the same ****e over and over again to you ,your in a league of your own and I dont mean in any good way at all. How can you expect anyone to care about anything you post when every coin is what is it you say a '****coin' ,grow up Johnny and lay off the sauce.


    Do you think TRON valuation is deserved?


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    #23
    rapul
    Registered Users Posts: 1,038 ✭✭✭rapul


    No I do not but posting up what this Johnny lad is is absolutely pointless.

    My favourite sh!tcoin come on like that's just great input


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    #24
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    rapul wrote: »
    No I do not but posting up what this Johnny lad is is absolutely pointless.

    My favourite sh!tcoin come on like that's just great input

    It’s a scam coin (well they all are, but this one is extremely obvious). Telling someone to invest money in it is really shîtty advice. It’s the financial equivalent of recommending homeopathy for a serious head injury.


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    #25
    rapul
    Registered Users Posts: 1,038 ✭✭✭rapul


    You've said all this before and more ,look we are well off topic apologies OP ,there is some sound advice posted back the way .
    Bitcoin and Ethereum are quite safe and for the long haul but I also think Neo is a great one for the future


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    #26
    JaMarcus
    Closed Accounts Posts: 828 ✭✭✭JaMarcus


    An important factor is that if you invest in Crypto, you'll inevitable get drawn into the world of Cryptocurrency "discussion" which has very rapidly become one of the most toxic, poisonous topics on the internet.

    It's 50% memes, 20% shilling coins you own, 20% trolling coins you don't own, and 10% news that is not news at all ("Oh wow, my coin just partnered with a family run doughnut shop in Gdansk. Can't wait to see the price go through the roof now!")

    I regret investing in Crypto not because of the losses I've made to date (I didn't gamble what I couldn't afford to lose, same as if I walked into a bookies) but the countless hours I spent checking prices and being present to watch various related sub-reddits turn into cesspools. And this forum isn't too far behind, unfortunately.

    Now, I might remember to check the price once a week but I've all but written off my "investment".


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    #27
    garrettod
    Registered Users Posts: 2,420 ✭✭✭garrettod


    Hi,

    At this stage, I'm wondering if we'll ever see the original poster post in this thread again, not alone ever see him / her invest in Cryptos !

    There's been some crazy stuff posted in here by people who probably should know better (and if they don't, then probably shouldn't be investing themselves, not alone trying to advise others as to where to invest etc.).

    The way this thread has deteriorated, just undermines the potential benefit of having an actual forum for discussing Cryptos here on Boards.

    Thanks,

    G.



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    #28
    Whelo79
    Registered Users Posts: 2,649 ✭✭✭Whelo79


    Arrival wrote: »
    ****ing dangerous advice and within one of the first few posts in the thread. Classic. No wonder we've so many bitter people around cryptocurrencies

    I haven't ever seen you post on the crypto forum yourself. Care to explain what is the concern with Tron?


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    #29
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Arrival wrote: »
    He didn't ask this though, did he? Useless post. Do you see the forum you're posting in? That €5k may be pittance to him and he could be looking to simply play around with it and so he's looking for advice from people actually aware about this industry. Back to reading your broadsheets
    Or he could be a punter whose mate told him about the new lambo he bought investing in bitcoin - in which case some words of warning that crypto will as likely screw you as make you money is warranted.

    We don't know, so better someone didn't gamble 5k without having their eyes opened somewhat.


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    #30
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    https://thenextweb.com/hardfork/2018/01/15/cryptocurrency-startup-tron-disaster/

    That’s a good start. Justin Lee is a scam artist, a lier, and a cheat, and he has made millions from hyping his coin to naive investors’ while he sold his stack for loads of real proper money.

    There’s a main net release at the end of the month. Could be the source of some ‘megalols’.

    https://medium.com/@DAR_crypto/trx-we-found-new-instances-of-code-copy-without-attribution-but-these-pale-in-comparison-to-the-305aff860f8b

    The tron code (in so far as it exists) is a steaming pile of shîte. Worse than EOS, and we all know how that folded out.

    Buying tron is one of the worst ways in the world to spend your money. Don’t do it. The only people who recommend you do so are those who bought it during the hysteria and mania phase, and now want to minimise their loss by offloading it to people like you. The greater fool theory is what it’s called.


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    #31
    august12
    Registered Users Posts: 1,275 ✭✭✭august12


    JohnnyFlash wrote:
    Buying tron is one of the worst ways in the world to spend your money. Don’t do it. The only people who recommend you do so are those who bought it during the hysteria and mania phase, and now want to minimise their loss by offloading it to people like you. The greater fool theory is what it’s called.


    I would have to agree with this, also bought Tron believing i might make some profit, but when I transferred it to Tron website wallet and it doubled my holding, I knew there was something not legitimate, sold off all. Am invested in other coins, but not sure how these will develop, but am in no hurry, can wait a few years, GVT is my main holding at this point,


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