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"Investing" in crptocurrencies

_VOIDNEXUS_
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Go to solution Solved by TheBahrbarian,

Yup, works exactly the same way as stocks.

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I just bought some XLM using Coin Space's app (because I'm under 18). Is that just it then? I just keep the coin in the wallet until it reaches a certain value?

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14 minutes ago, _VOIDNEXUS_ said:

I just bought some XLM using Coin Space's app (because I'm under 18). Is that just it then? I just keep the coin in the wallet until it reaches a certain value?

I bought XLM sometime in 2018 I think. Been seeing a bunch of posts about it, did Musk go ham on twitter again?

I left this here just to annoy people.

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2 minutes ago, Turbokees said:

I bought XLM sometime in 2018 I think. Been seeing a bunch of posts about it, did Musk go ham on twitter again?

IDK.. I accidentally bought XLM cause I thought it's the only one I can buy..

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The quotes aren't needed it's a real investment just like stocks, a car, or anything in which you think the value will go up in time

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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Works exactly the same was as the alt. currency USD in a physical pocket wallet.  You can either spend it where its accepted, or unlike the USD which only goes down in value, you can treat it as an investment and sit on it in hopes that it becomes more valuable.  What creates value in a crypto (basically) is people possessing it (not just 1 person or a few people - lots) and an interest to SPEND it, and places that accept it.

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Yep that's it. Stellar is nice for transfers, quick and cheap. I hold some in my bags as well. If you're in it for investing I personally would get some Bitcoin and/or Ethereum as well.

 

A good thing to do would be to set up an investment plan. How much are you willing to invest how often? Are you in for long or short term? What is your exit strategy? When will you start taking profits?

 

Not financial advice. Anything you do is your own choice at your own risk, research before you buy and don't invest what you cannot lose.

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16 minutes ago, tikker said:

Yep that's it. Stellar is nice for transfers, quick and cheap. I hold some in my bags as well. If you're in it for investing I personally would get some Bitcoin and/or Ethereum as well.

 

A good thing to do would be to set up an investment plan. How much are you willing to invest how often? Are you in for long or short term? What is your exit strategy? When will you start taking profits?

 

Not financial advice. Anything you do is your own choice at your own risk, research before you buy and don't invest what you cannot lose.

Right now I am focused on stocks.. I just wanted to try buying some cyptos.

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37 minutes ago, _VOIDNEXUS_ said:

Right now I am focused on stocks.. I just wanted to try buying some cyptos.

And so you did, more power to you. Just keep in mind crypto is a lot more volatile than stocks and be realistic about what value a coin can realistically potentially attain.

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-> Moved to Folding@home, Boinc, and Coin Mining

^^^^ That's my post ^^^^
<-- This is me --- That's your scrollbar -->
vvvv Who's there? vvvv

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