Which coins should starters invest in?

Discussion in 'Digital Currencies' started by TreasureHunter, Apr 11, 2021.

  1. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    This is why I'm on silverstackers, the source of all the good info. :)
     
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  2. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Vouch that!
     
  3. Wiowi

    Wiowi Member Silver Stacker

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    I think Cardano (ADA coin) is a good investment. It is in the top 10 according to CoinGecko, is now completely decentralised meaning it is quite safe. The price went a bit haywire in 2018, but as the protocol improved so did its price. The Cardano blockchain is cheaper to send/receive than Bitcoin or Ethereum. My expectation is that ADA value will continue to grow. Sure you could do better by taking bigger risks with coin farming etc., but if you want something to hold and increase in value over time, and not be in a hurry, then my choice is ADA. I like BNB too, but that price is quite high now, I don't see that as a good coin to buy when first entering the crypto space.
     
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  4. alor

    alor Well-Known Member Silver Stacker

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    any coin with zero fee would be the best, best technology ever provide
     
  5. GOLD1

    GOLD1 Member

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    I used to hold 10k of XRP for a few years. I bought them during the 2017 bull run for AUD 1.40. It came down below AUD1 really fast, 35 cent at one stage. XRP got a lot of positive news, but it slipped further. It was a pain holding them. It sold them all when it broke even. Apart from BTC which is decentralized, all other coins are centralized. The creators of those coins could sell to the market as many coins as they like. DYOR before you invest.
     
  6. Wiowi

    Wiowi Member Silver Stacker

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    @ alor - I think you said that with a bit of tongue-in-cheek! There is a price to pay, whether it be for precious metals, shares, crypto, or even putting money in a bank savings account, we are "got at" one way or another, lol!
     
  7. Wiowi

    Wiowi Member Silver Stacker

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    @GOLD1 - Cardano (ADA) is now decentralised, and I do definitely agree with you on DYOR.
     
  8. TreasureHunter

    TreasureHunter Well-Known Member

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    This is the first time I head about it. But what is its use? What is it good for?

    Are there any cryptos that are actually good for paying/receiving something?

    Like: pay for services, receive donations (and be able to spend them for something).

    It would be great if you could book hotels at least, buy on Amazon, buy PM's or anything else... Or if they'd be generally accepted (wide-use).
     
  9. GOLD1

    GOLD1 Member

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    Eth also claimed to be decentralized. But in 2018 to 2019, Vitalik had to sell ETHs to maintain his blockchain as a result it went down under USD100. If they have a CEO, it can't be decentralized especially in a lightly-regulated space.
     
  10. Wiowi

    Wiowi Member Silver Stacker

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    The crypto king, Bitcoin, is seen mainly as a store of value, like gold if you wish.
    But now, there are sites out there like Blockfi, Celsius, Youhodler, where you can place your Bitcoin, and other cryptos, to earn interest, anything from around 6% to 12%, and if you keep up-to-date with it there are specials where you can earn 18% passively. You need to google it and see what else is out there. When you deposit crypto at such sites with the view of increasing your total crypto value, yes that increase will happen, but if the crypto loses value so will the value of interest you are earning. There is a risk involved, but there is risk involved with any form of investing.
    There are not many places in Australia that will accept crypto as payment for goods, this is a slowly developing space. I like the thought of investing crypto for interest, then when you want to, you can convert that interest to AUD and send it to your bank account.
    Here is a site that mentions use cases for crypto, not much in Australia, but if you purchase from overseas sites you may see something that would interest you - https://99bitcoins.com/bitcoin/who-accepts/. Here is another - https://usethebitcoin.com/list-of-online-stores-accepting-bitcoin/. Another is https://cryptonews.com.au/guides/who-accepts-bitcoin-as-payment-in-australia. Another is https://www.cryptomarkets.com.au/list-of-retailers-who-accept-bitcoin-in-australia/.
    As for Romania, you will have to do a lot of googling.
    I do not know if there are any everyday use cases yet, for Cardano (ADA). The intention is that will happen, but I know not when!
    Research, research, and keep looking.
     
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  11. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Just use a credit card funded with fiat
     
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  12. shinymetal

    shinymetal Well-Known Member

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    BAT, you can earn it through brave browser, you get ad's and a % of the ad revenue.
    Brave is a good company with a good product.
    You can use your tokens to donate to content creators you like through the browser.
     
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  13. alor

    alor Well-Known Member Silver Stacker

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    trading Iranian and Venezuelan oil by passing sanctions seems to work very well in the de-dolarization in a middle mindless pandemic
     
  14. Brendio

    Brendio Active Member

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    Look what I bought with DOGE.
     
  15. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    IOTA has zero fees. However, I learnt the hard way that it's risky sending coin from the same wallet more than once.
     
  16. precious roar

    precious roar Active Member

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    A lot of good options mentioned so I will just add Raven Coin (RVN) as an alt I feel has potential due to using the robust bitcoin platform but quicker and cheaper than btc.
     
  17. Nocky

    Nocky New Member

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    Watching with interest.

    I've got no idea on crypto, how to buy, sell or what any of these coins are.

    Can someone please share any links with useful info on how to get started?

    I'd like to dip my feet in and if any luck with it use profits to buy more metals
     
  18. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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  19. TreasureHunter

    TreasureHunter Well-Known Member

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    What did you buy with it?
     
  20. Brendio

    Brendio Active Member

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    Silver rounds. The picture didn't come up automatically. Click the arrow or view attachment to see.

    With today's run on DOGE, it has turned out to be expensive silver.
     

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