Here is the great thing about investing in crypto. You can start with any amount you want and starting with small amounts is a good thing.
Here I will show a way to start with $500. If you start with less or more just adjust the numbers.
Place to Buy
I have bought all my Bitcoin, Ethereum, and Litecoin from Coinbase and Gdax. Here is a link (click here) showing you how to save on fees by using Gdax. There are other places to buy these coins, use whatever your prefer.
There are two different investing strategies I am going to talk about. The first is for people who do not want to do any trading. Just buy and hold. The second is doing a little more trading.
1. Just Want To Buy and Hold
- $150 in Bitcoin
- $150 in Ethereum
- $100 in Litecoin
- $50 in 2 alt coins
Now just let your investments sit and don’t worry about it. You can check them from time to time, and if one happens to be up in profit you can think about selling. Otherwise, just set it and forget it.
2. Be More Active With Trading and Watching Prices
- $125 in Bitcoin
- $125 in Ethereum
- $50 in Litecoin
- $50 in 4 alt coins
With your money diversified out into 4 coins, there is less risk. Another advantage is that having more coins will give you more experience and chances to learn.
Your Money Is Invested, Now What
- Bitcoin, Ethereum, and Litecoin just hold and don’t worry about.
- For the alt coins I would watch the price.
- When it gets up to a price you want to sell at, take out your initial investment plus a little profit.
- Leave the rest of the coins behind.
- Now take what you gained and invest in another alt coin.
This is a good way to build your portfolio.
As for what percent gain you are looking for it is up to you. Some people just hold and never trade, others will say if you get 25% return sell.
If you don’t want to do much trading I would look for at least a 50% return before selling. if you want to trade more actively take profit at 15% or above.
I am not a financial advisor. These coins are ONES that I LIKE. NO GUARANTEE THEY GO UP.
With that said here are a few alt coins that you can look at to get you started in the right direction. I am invested in all of these.
- Power Ledger
- Stellar Lumens
Store Your Crypto In Wallets
- Ledger Nano S