Would you invest in Cryptocurrencies (or already have ?)

GeorgeDr Level 1

October 22, 2018, 1:37 pm

48

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Cryptocurrencies seem find their way slowly but steadily to mainstream markets along with public recognition. People have been buying mining gear either dedicated or consequential and gathering various alt-coins. Major exchanges have been established since the very beginning and the trend does not seem to fade away , if not the opposite.

In this situation , do you think it would be a good idea to invest into the alt-coin trend either by buying mining equipment with the promise of future profit, or by directly buying cryptos with the hope that their value will skyrocket someday. What do you think about trading? Is it right to treat these alt-coins like actual money or as an asset?

Is it even profitable today to mine an old alt-coin like bitcoin? I would like to hear your opinions.

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amelia88

amelia88

I'm willing to, but I think I'd have to do a pretty significant amount of research before taking the plunge. It's one of those forms of investment that still seems to be developing, and I tend to be a rather risk averse person! So for me, I'd be more inclined to go with more stable options than something which right now seems to fluctuate so heavily!

8 years ago

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burgosmichael24

burgosmichael24

You are right. Just like any other business, you really need to have a background check and further studies before investing your money. Though cryptocurrency is a good platform to invest your money, it is also a hot target for the scammers. Therefore, further studies are necessary before making any investment.

8 years ago

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cks003

cks003

The euphoria on cryptocurrencies such as Bitcoin, Ethereum and other alt-coins reached its peak when the price of Bitcoin was quoted at $25,000 in Dec 2017. It has since attracted many new comers to the industry either as "investors" or "miners". Investors have to open a e-wallet in crypto platform to trade and the miners have to fork out a significant upfront sum to purchase "mining machine" (usually it is a high-powered machine) with high monthly maintenance cost due to high consumption of electricity.

Before we discuss about the price of Bitcoin or other alt-coins, one has to understand the function of a currency. To be a currency it has to fulfil the conditions; 1) widely accepted, 2) a store of value and 3) medium of exchange. All these conditions require the currency to be stable in value. The volatility of the price of Bitcoin and other alt-coins makes the digital coins not suitable as medium of exchange. The volatility has since dented the market confidence on the potential of digital coins as currency.

The return of investment (ROI) of miners will directly be impacted by the drop in demand and price of the digital coins. For example, any price level below $400 for Ethereum will cause miners to lose as the compensation paid in fraction of Ethereum is not enough to cover the monthly maintenance of the mining machine.

8 years ago

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nrnlss

nrnlss

I've already invested in bitcoin, so far since our country is going through a rough time the value of bit coin there was a bit low, so I grabbed that opportunity to invest and hopefully our country will go back to it's place and if that happen the value of the bitcoin will increase.

8 years ago

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Youngshark

Youngshark

Wow, am glad for you and your investment my friend. As for me, I am still learning about the currency and yet to make any strong investment. i have only had trial accounts and have not bought actual coins with my cash. Planning to nonetheless.

8 years ago

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NerdIndeed

NerdIndeed

I got interested before but backed out at the last minute. I heard too many people are now into bitcoin and the bubble is about to pop (not sure). People aren't using it as a currency anymore but are just buying it to trade it for gains. It sure made money for some, but most I'd say lost money, but that's just me so.

8 years ago

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Martinsx1

Martinsx1

The truth is that some part of the world aren't yet accepting the legitimacy of Cryptocurrency as a real currency, so they aren't accepted or approved by the government. This is actually the reason why most people are still doubtful of making investments in the digital currency. But there are still some parts of the world that accept and use all the cryptocurrencies and China is a good example of such countries.

8 years ago

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NerdIndeed

NerdIndeed

I am not aware that China uses the currency that much. It surprised me because according to Jack Ma, CEO of Alibaba, Bitcoin could be a bubble and he's from China. Maybe it's just singular to 'Bitcoin' as his company is embracing its underlying blockchain tech.

8 years ago

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stbrians

stbrians

Losing money with crypto currency is more than gaining. Before they used to skyrocket and making money was simple. It is not so anymore.

8 years ago

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NerdIndeed

NerdIndeed

It could be, but it also holds true with other investments like stocks. Investing is a game, and you should only put in what you can afford to lose.

8 years ago

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stbrians

stbrians

That is true. I gave up investing in crypto when it started falling like snow in winter. Losing money was more than gaining.

8 years ago

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NerdIndeed

NerdIndeed

I see. Do you mind if I ask, like how much value did it lose? What percentage? And for how long?

8 years ago

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rlpzbeermoney

rlpzbeermoney

I wanted to when all this Bitcoin craze started last year. However, due to the large capital needed to purchase mining rigs, I didn't push through with it. I don't think you'll earn your money back in time and you'll just lose money in the process. I know some people who invested mining rigs worth more than a car and until this day they still haven't recovered anything.
I do however go to Bitcoin faucets to collect free bitcoin.

8 years ago

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Jeane

Jeane

I don't think you'll earn your money back in time and you'll just lose money in the process.

While yes there is a possibility that you might lose some of your money, just like any business you could also profit from investing in bitcoins. Last I heard the value of bitcoin had surged significantly.

For the brave investors it's not too late to invest in bitcoins themselves, not the mining.

As more people accept and use cryptocurrencies, astute business people can make quite a lot of money buying and selling cryptocurrency since currently it's only a few companies that provide this service.

8 years ago

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jayjaydimson

jayjaydimson

I guess not, because I tried investing on it online and I got scammed, and I have no way to find out who's in the other side of it because it has no definite information other than the bitcoin address which is unknown to everyone.

8 years ago

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Barida

Barida

The best way to go about this is to be smart. While it is not easy for people to detect who is real and fake while trading on bitcoin, the best thing to do is read reviews and trade with those that have better track records on the crypto world.

8 years ago

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theresajane

theresajane

I'm not yet confident with investing my money on Cryptocurrencies. Maybe because this trend is still new and the value may go down or up, since our country is not performing well, I'm afraid I might lose my money. I guess, I have to learn more about this and wait for the next 3-5 years. I don't know, I'm not yet focused on that field. I have to find a field where my money would surely be safe.

8 years ago

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vhinz

vhinz

I want to invest in cryptocurrencies but it's seem like it needs bigger capital than investing in the stock market. As the value of cryptocurrencies like bitcoin, it becomes more difficult for ordinary people to invest in. Lucky are those who have invested 10 years ago because the value is very low. But I think cryptocurrencies is a good investment because people are becoming aware of this type of currency. If you are capable of investing today, maybe it is time to do it because the value might go higher in the coming years.

8 years ago

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stbrians

stbrians

Crypto currency market is not reliable at all. They may increase maddenly but drop in the same way they climbed. You may invest expecting quick returns that may turn into huge loses.

I speak from experience. I have dealt in Blackbytes, Ethereum, Bitcoin, SBD and steem. I have seen skyrocketing and dropping at the same time.

8 years ago

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jaybee19

jaybee19

I've already invested in a cryptocurrency named Ethereum in a platform called Telegram. I only invested at least $6 and I found it very slow. I'm still on the way to get my profit and my investment is one month old already. It's really disappointing but still I wanted to invest because I wanted to try and know if it's really reliable. Drawing conclusions from my experience, I can definitely conclude that it isn't.

8 years ago

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Martinsx1

Martinsx1

There are so many cryptocurrencies that one can invest in, it's all about the fund that you have to move into such digital currency investment. Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Ripple are all lucrative but just study the exchange market before heading into the investment. If you are still new to investing in cryptocurrency, I would recommend using Coinbase.

8 years ago

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overcast

overcast

I have so far invested into BAT. Dash. Bitcoin. Bitcoin cash. Ether and few coins in the Steem. So there seems to be the diverse portfolio. And it can be up and down depending on how you see fit. Most of the time I think cryptocurrencies seems to be not that easy to get handle. And things can go wrong in that case if one is not careful.

8 years ago

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stbrians

stbrians

They are not reliable at all. Cryptocurrencies keep on changing like a chameleon. One time they go up then suddenly down. Of late, they have been low.

8 years ago

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overcast

overcast

I think the real issue is that you can't exchange them on local level. People seem to be moving away from local exchanges due to the law. And that is what makes the crypto less reliable. I would be wary of investing from here onwards.

8 years ago

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Jeane

Jeane

What about treating it as a long term investment? Say buy a few bitcoins this year and instead of trading, you just hold on to them for years. 5, maybe 6 years? Of course this should only be money you can afford to lose since there is no guarantee that after a price drop, it will bounce back up.

8 years ago

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EfficientNinja

EfficientNinja

I believe you should be a good trader if you want to make it in the cryptocurrency market. Stocks and Forex are less volatile and you can practice your technical analysis or chart skills there. You should also try trading in a demo account before you take the plunge in crypto trading.

8 years ago

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jayjaydimson

jayjaydimson

Yes, I would invest to cryptocurrency. Because cryptocurrency is getting higher and I think in the near future it will go higher and higher as well, so it's the best wait to invest money from it.

8 years ago

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iambeth

iambeth

I think I would invest in cryptocurrency. They say its unpredictable like the stock market so there will be gains and losses. Its basically the same with buy-and-sell concept but I would do some more research to learn the essential skills to make profit out of this kind of investment.

8 years ago

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thejoyrevolutio

thejoyrevolutio

I think I would invest if I have extra money. I wouldn’t invest my hard earned money into something as colatile as cryptocurrency. I don’t really understand it very well. I would think and research about cryptocurrency before investing.

8 years ago

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cmoneyspinner

cmoneyspinner

Yes I would like to invest in cryptocurrency if I had the ability and the resources to do it. But I don't. So for right now I'm just claiming small amounts from faucets and working towards the goal of cryptocurrency investing.

8 years ago

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jayjaydimson

jayjaydimson

I won't, yes it's an easy money, but it has no guarantee that your money will get double or you will lose.

8 years ago

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zerancaleb

zerancaleb

Just be careful in investing search more before putting an investment, my hubby is part of cryptomining farm at first he was receiving payment twice a week then suddenly become a month it seems there's battling for something huge but I read a lot of comment that they've still waiting for more than 2 mos still nothing, maybe as of now they still paying but the assurance of how long will they last was being droop. They've always told their member to keep their patience. So I advice either you search more for that particular cryptocurrency or make an investment on more actual business that u can personally supervise.

8 years ago

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emiaj55

emiaj55

I haven't really considered investing in Cryptocurrency. From where I came from, Bitcoins were mainly used in apps for buying stuff online. But most of the times a lot of people from here lose more than what they invest. In addition, there were no stores that uses Bitcoins, they still use Fiat currency or Fiat currency equivalent cards so I didn't see the point of investing in Cryptocurrencies yet. Hmm, so far I don't see them overthrowing the use of Fiat currencies in the near future.

8 years ago

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coolavender

coolavender

I don't have plans to invest in cryptocurrencies at all. I'd rather put my hard earned money in a business that will have residual value regardless of the outcome. While it's common knowledge that the stock market is volatile, cryptocurrency is even more so. It's hype, a bubble that will burst anytime. Cryptocurrency is not widely accepted or recognized in my country. One reason is people's lack of trust in a currency or medium which is unregulated.

8 years ago

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jaymish

jaymish

I've all but given up on cryptocurrency. What is the price of bitcoin again? is it still dropping? how many altcoins are in the market now? What's the prognosis for the future? Will regulation by global states around the world cryptocurrency? If you can answer this questions then interest in cryptocurrency. if you cannot like me opt out until you can see more clearly.I think investing in cryptocurrencies now is tricky. Its actually a gamble. They could go up or completely lose their value. For me the answer is no.

8 years ago

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Jstreeter26

Jstreeter26

I bought some ethereum a few months back, I don’t really regret it, as it was a good learning experience. In the future I wouldn’t buy any more crypto, as it’s value is way to volatile and based off of pure speculation.

8 years ago

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esteban123

esteban123

I am not into buying some mining gear for cryptocurrency since I do not have the money to buy for such. I am just claiming to some free faucets out there because this is the only way that I can do for now. Besides the price of cryptocurrencies are very unreliable because it is changing from tome to time which is not really good in my own point of view.

8 years ago

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buraks7

buraks7

It is not possible to earn reasonable amount by mining any coin nowadays. I mined ETH last year when it was about 40$ and earned some good money. However, I probably would have earnt much more if I just invested the money that I spent for rig I built to ETH itself. I own some cryptocurrencies as investment. I believe the concept is very useful and will be very common in future, even though currently most people just invest to earn quick money.

8 years ago

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superlicca

superlicca

I was interested before in investing in Cryptocurrencies but with a lot of negative comments that I read on Facebook and Google, I decided not to invest in it. I am not also knowledgeable when it comes to Cryptocurrencies. For now, I will just focus on investing in the stock market since this is something that I have.

8 years ago

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jaymish

jaymish

I agree@superlicca. All investments are risky, but I think that cryptocurrency is especially risky. With crypto you don't know what is happening. You don't know why exactly the price is going up or down. This time last year the price of crypto was climbing and it almost seemed impossible. It suddenly just crushed and has never recovered. It's not advised that you invest in something you don't understand.

8 years ago

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Bravosi

Bravosi

HI!

I was thinking to invest into cryptocurrency, but the fear that they're unstable frightens me. My father bought bitcoin worth of 3000 EUR, right before the value of bitcoin dropped by 40% (if I'm not mistaken) recently.

So I'm not really sure about this. I would love to mine cryptocurrency, that's for sure.

8 years ago

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DenisP

DenisP

I’m not really looking to invest in any form of cryptocurrency any time soon. From what I noticed, the market is actually incredibly volatile. I had a couple of friends invest in bitcoin—nothing ridiculous, but a fairly decent amount of money—and they were adamant that they were going to get rich, only to have the bubble burst and the value of bitcoin plunge. They sold off their coins, and next thing you know the value goes up again.

It’s too volatile and unpredictable for me to invest in, especially since I’m in a situation where every penny counts.

8 years ago

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Corzhens

Corzhens

Don't consider this comment as a letdown for the crypto currency. I am just being honest in my opinion. When it comes to investment my priority is a business or undertaking that I fully know. For example the stock market, I wouldn't dare because I lack the knowledge. With crypto currency I have many questions regarding the source. Who creates the crypto currency? It is like asking who prints the US dollar? If you can answer that then maybe I can consider investing in crypto currency.

8 years ago

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mhingnhormz

mhingnhormz

Would you invest in cryptocurrency are already have: In my case, I am not a risky person interms of this especially if it is involves in my earned money for me it is also consider as bet and i don't ever try to joyned such kind of investment. In this cryptocurrency we don't have any clue where it goes up or down or when is the best time to invest. But i have a plan to try that bitcoin but not investung my own earned money but to the bitcoins that Ive collected for free in the faucet but not now maybe if it good enough to use.

8 years ago

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chrisbarett

chrisbarett

In 2019, a good friend of mine who worked as a broker advised me to invest money in cryptocurrency. I invested $ 20,000 in bitcoin on the Fondex platform and withdrew $1000 at the end of the month. Two weeks later, I got a call from a Fondex broker and he asked me to invest all my money in litecoin, since bitcoin was falling very quickly on the world exchange and litecoin was growing at a high rate. I listened to him and hit the jackpot! I withdrew $ 14,000 the following month without doing anything. If you have a professional broker, I advise you to work with him and you'll succeed. It'll be very difficult to earn money on cryptocurrency alone.

7 years ago

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chrisbarett

chrisbarett

I like something like good old-fashioned trading or something like that. I use this method. But as an example, I take several strategies of different successful traders. Not so long ago, one of my friends told me, fbs trader, and now it is much easier for me to make money on Forex. The good thing is that I know something about the strategies I copy, so I can avoid making big mistakes. Because even successful traders make mistakes.

6 years ago

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milaniagreen

milaniagreen

The longer you delay this issue, the further you are from the real profit. I advise you to read the article about crypto interest accounts right now. This will help you better understand the market situation and learn various trading strategies.

5 years ago

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