Jump to content

How to get into Cryptocurrency


MMATycoon

Recommended Posts

I'm going to keep this fairly short but if any of you have any questions feel free to ask. I'm going to assume you know what crypto currency is. If you don't, read the wikipedia page.

 

It's up to you guys to assess whether you want to get into this but I personally have put roughly 1/3 of my savings into crypto after doing a lot of research. This will be a quick guide how to do it, if you are interested. I wouldn't tell people how to do it unless I thought it was going to work for you but as I say, it's your own risk and I really don't expect anyone to be putting in as much as I have :)

 

There are major cryptos (basically Bitcoin and Ethereum) which are a lot more stable and over time will likely give a nice steady profit. Then there are alt-coins, which are more unstable but ultimately can produce much higher returns if you pick the right one. However, lots of these alt-coins will fizzle to nothing, so you have to be careful.

 

You can find a list of all cryptocurrencies and their "Market Cap" (basically their total value), here.

 

I personally am about 95% in BAT (Basic Attention Token), with the rest in NEO. Both are alt-coins.

I wrote a blog about why I am all in on BAT, here. There's no point re-writing all of it here... you can check it out on steemit if you like :) (Steemit is a site where you get paid in crypto to blog).

Essentially BAT is a new model for online advertising, created by the guy who invented Javascript and Mozilla Firefox. I genuinely think it's a complete game changer and I think the returns from the current price will be enormous.

 

NEO is talked about like it's the "Chinese Ethereum". It's a platform to run applications on, much like Ethereum. It's a more saturated market in that I think there will be a lot of coins like this (Tezos and EOS are two other big ones), but I've got some anyway because people are giddy on it and it probably will have significant gains.

 

If you want to get BAT/NEO yourself, you can check out the post below on how to invest in alt-coins. Basically you buy in on Coinbase, then transfer that money to Bittrex and buy BAT on there. (Use that link to coinbase and you'll get $10 free Bitcoin if you buy more than $100 worth).

 

Check out this post I made regarding how to actually buy on Coinbase, transfer it over and convert it into an alt-coin.

 

Just for reference.

BAT current price is $0.17
NEO current price is $16.39

 

Don't compare coins based on the price of one coin as they all have hugely different numbers of coins in circulation. Look at their total market cap. My projected price for one BAT is $19 within 5 years. It will be over $0.40 by the end of the year, possibly even within a couple of weeks. NEO I don't know - it could be $500-1000 or so in 5 years, or it could get out-done by other, similar coins. The thing I like about BAT is that they've pretty much cornered the market for what they're trying to do and they have an extremely experienced team.

 

Anyway, BAT is about to release a major update so the price is likely to increase significantly very soon. If you want to get in, you want to do it within a couple of days max. NEO is releasing an update today too. There are plenty of other projects if you miss the boat on these but they're my two (Bancor [bNT] is too cheap as one example, but that's a long term hold).

 

 

If you don't want to actually pay money to get into crypto, you can earn crypto... As mentioned above, there is Steemit where you can get paid to blog.

That's effort though... So, it's BAT again as the best option :)

 

When it's fully developed (next year) BAT will pay you to view adverts. 15% of whatever the advertiser pays to display an ad goes to the person who views the ad. This will be done in their new browser Brave. As mentioned before, this is from the guy who invented Firefox; it's a really good browser. It auto-blocks all ads and tracking software and auto-upgrades http to https for added security. It's quick. It kicks ass. Check it out. I'm using Brave already because it's a better browser.

 

It also has a micro-donations system where you can donate to the sites you use. In the next week or so they're releasing an update where all users get a bit of free BAT to play with, that they can donate to sites they like. It's a nice foot in the door to understand how it all works.

 

 

Anyway, I'm not an expert on every crypto but if you have any questions, feel free to ask.

  • Upvote 1
Link to comment
Share on other sites

The only question is can you make money from it? And how much have you made?

 

If its rentable why would people not try but if its some sort of money pyramids Mentor has been advertising here I would better pass on that.

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites

The only question is can you make money from it? And how much have you made?

 

If its rentable why would people not try but if its some sort of money pyramids Mentor has been advertising here I would better pass on that.

 

I'm up about 50% in 6 weeks or so.

I don't know what you mean by rentable.

 

It's been a complicated few months in the crypto world because of the bitcoin split (google if you want more info) but everything is settling back down again now and the industry is just starting to get mainstream (big money) investment.

Link to comment
Share on other sites

 

I'm up about 50% in 6 weeks or so.

I don't know what you mean by rentable.

 

Well by that I mean if I put if for example 500$ and if the coin goes up as you say from 0.17$ to 19$ I could for example take out about the same about of 500$ a month from it in that period of time or the I would just have to sit there and wait for it to jump up and down for me to catch the right moment to cash out..

 

What would be recommended money you would say I could put it? 100$ for example is waste of time or not?

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites

 

Well by that I mean if I put if for example 500$ and if the coin goes up as you say from 0.17$ to 19$ I could for example take out about the same about of 500$ a month from it.

 

What would be recommended money you would say I could put it? 100$ for example is waste of time or not?

 

Well it's not a waste to put in $100, no :)

The only annoying bit really is that you pay 4% fees on coinbase but after that there aren't really any fees at all, so you just get your BAT / whatever and forget about it for a bit. You can use an app called Blockfolio to easily keep track of prices.

 

edit - if you're only getting $100 worth, you'll get $10 free with that link I posted anyway, so you're actually not paying any fees at all.

Link to comment
Share on other sites

 

Well it's not a waste to put in $100, no :)

The only annoying bit really is that you pay 4% fees on coinbase but after that there aren't really any fees at all, so you just get your BAT / whatever and forget about it for a bit. You can use an app called Blockfolio to easily keep track of prices.

 

edit - if you're only getting $100 worth, you'll get $10 free with that link I posted anyway, so you're actually not paying any fees at all.

 

Okay I will try out buying 100$ worth of BAT let see what happens.

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites

Cool, welcome on board :)

I dunno where you are in the world but if you can't get on coinbase, there's also a site called Kraken you can try but it's not as good. There's also one called Gemini but I've never used that one.

Make it like $102 to make sure you get the freebie, if you're using a different currency :) It says £76 for GBP.

Link to comment
Share on other sites

Cool, welcome on board :)

 

I dunno where you are in the world but if you can't get on coinbase, there's also a site called Kraken you can try but it's not as good. There's also one called Gemini but I've never used that one.

 

Make it like $102 to make sure you get the freebie, if you're using a different currency :) It says £76 for GBP.

 

Its me humors. Yeah I will just drop 100 euros.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...