Smart Tips to invest in Crypto-Currencies (Bitcoin and other Altcoins)

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Rox

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Everybody these days is talking about investing in crypto-currencies like Bitcoin, Litecoin, Ethereum, Ripple, Stratis etc. This thread is dedicated to users who are looking for some solid life-saving tips before investing in these coins.


  • Invest only that part of your money which you can afford to loose; social & financial security is of utmost importance
  • Try not to invest when markets are up, buy when prices go down
  • Try not to invest in coins which have less trade volumes - such coins are easily manipulated either by creators or huge holders
  • Look out for promising coins which are new & about to be listed for trading - they have good potential for buying at low prices and selling at 100x to 1000x returns
  • Look out for coins with actual revenue making models - do not blindly invest by seeing trade volumes / founders / shiny websites. You should only invest in any tom, dick and harry coin if you are only in for day trading (short term profit booking) and are ready to loose the money
  • Look out for coins which are pre-mined heavily - Example: XYZ Company releases 10,00,00,000 coins, and keeps 50% for itself (pre-mined) saying they need them for developmental costs. Expect the prices to crash as soon as the coin is listed for trading - they just want to sell those 50% coins since they cannot pay bills / employees in those coins they have created - they need fiat money (USD / GBP / EUR etc.)
  • Do not ever hold your coins in Web Wallets / Exchange (Site like BitFinex.com where you can Buy/Sell Coins) Accounts - you are risking your secret keys being leaked / hacked. In crypto-world secret keys are everything; you loose them your coins are all gone. A transaction cannot be reversed in crypto-coins. Use desktop wallets as a minimum security measure.
  • Always go by your gut feeling and thorough research - there are tons of articles / forums on web and each one of them have their own opinion / interests

This thread will be updated in a neater format later on. Your comments and suggestions are most welcome.
 
10 comments
Is
antshares.png
[FONT=&amp] AntShares [/FONT](ANS) good to invest ?
 
Is
antshares.png
[FONT=&amp] AntShares [/FONT](ANS) good to invest ?

Yes, it is. The coin has got some great potential since people of China are backing it since it is a locally created coin. Don't have to explain how much they care about their own products, do I?

Due to recent fall in prices, it is a good buy right now.
 
thanks

for other readers read this point very carefully

Do not ever hold your coins in Web Wallets / Exchange (Site like BitFinex.com where you can Buy/Sell Coins) Accounts - you are risking your secret keys being leaked / hacked. In crypto-world secret keys are everything; you loose them your coins are all gone. A transaction cannot be reversed in crypto-coins. Use desktop wallets as a minimum security measure.

here I am the victim :( of such activities
 
  • "Try not to invest when markets are up, buy when prices go down"
But when the price goes down, how do I know that it would be a good sign to buy in or it's just a dropping sign, telling me that the coin isn't valuable and for that reason, more people sell it out, making the price drop?
 
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