I have £3.5k to invest in cryptocurrencies. Which ones do you think I should go for?

in #quora7 years ago

Only if you are a risk taker follow this advice.

Also have about a day atleast to investigate.

Go to CoinMarketCap.com

Check the top 100–200 coins and select any 35 coins which you think have a promising future with their product idea, lower than 100Million Market Cap and which costs less than £100 per coin.

Buy £100 worth of those 35 coins and then make a sell bid for
50% that coin at 100% gain
25% of that coin at 200% gain
15% of that coin at 300% gain
10% of that coin can be holded or so for immediate liquidity

Now I will say the reason for this.

If you buy BTC or ETH from the money you have, you will surely make profit, but it can take some considerable amount of time.

But if you buy low market cap coins with less value, these can get double in no time.

Then there are also a phenomena of pumping some coins, and when they do, they easily reach atleast 100% and I have seen as far as 1700% for just a matter of seconds.

Also, if of the 35 coins you select, consider 15 was complete loses, so you lost £1500
And the other 10 were just break even, thus you got £1000 back
But the rest 10 made atleast 300%, then you are going to get £3000 back
That is a mere profit of just £500
But that is the least possible scenario I am saying.

If you select good coins from the top 100–200 coins, you can see a pattern that, most of those coins have been pumped at some point of time to tremendous levels and some rises when the products are launched or the timelines are met.

So, the profit you can get from this is more likely than if you invest with the other alts.

But

If you don’t have time to check these and want to hold long term, then surely ETH, LTC & NEO will be much better option than BTC in your case. Because, with the amount you can hardly buy more than 0.3 BTC, whereas you can buy more with other coins I mentioned.

And if you not at all understand what is happening in the cryptocurrency world

Then my advice would be to spend some time to learn about the basics, as this is the future, and you will need it for sure.

Hope this helps you in some way :)

Source: https://www.quora.com/I-have-%C2%A33-5k-to-invest-in-cryptocurrencies-Which-ones-do-you-think-I-should-go-for/answer/Shebin-John-4

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