Which coins should starters invest in?

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

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    Should've bought DOGE with THAT! Whatever "that" was:

    [​IMG]

    Last time I checked it was bouncin' between 0.35-0.38 $.

    I am really wondering what caused this.
     
  2. SilverSurfer77

    SilverSurfer77 Well-Known Member Silver Stacker

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    I’m a big fan of Theta, in my opinion it’s seriously under valued even though it’s had a good run since the start of the year. There are already some massive companies invested in it such as Google, Samsung and Sony. It’s main use is decentralised streaming but is also currently developing a NFT market place. Currently under $20aud per coin with a max supply of 1 billion coins which are all in circulation.
     
  3. alor

    alor Well-Known Member Silver Stacker

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  4. TreasureHunter

    TreasureHunter Well-Known Member

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    What are your opinions on the following?

    Binance Coin (BNB)
    Litecoin (LTC):
    8-9 years ago it was compared to silver, while Bitcoin was compared to gold; but now Litecoin seems to have fallen behind and almost no-one ever mentions it
    Monero (MNR)
    Ethereum (ETH):
    seems to be over-promoted and has the feel of a startup coin, but unsure about its practical use or real potential
    Tether (USDT)

    I hear a lot about Monero, Binance, Tether - but to me all are variations on the same theme. Researching can be done online, but it's always better to ask a real person about what they think/feel about it.

    For example, some coins are overmarketed (like Ethereum, which has this "business feel"), but others fell back (like Litecoin, which was in the beginning second to Bitcoin).

    In addition, I think the very cheap coins that start as low as DOGE has started could be a great buy. Especially if they have practical use and potential to spread (after all, SM/media propels them higher than rational potential).
     
  5. nutshell

    nutshell Active Member

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    Dunno .... Maybe good advice here ... maybe not as follows .... investment ultimately is your choice and your choice only. My decision to invest was based on looking at what other folks had to say here and elsewhere then do my own research. Remember, bloggers and other "opinion leaders" make their money on advertising hits. Read what others say but follow up to see if info corresponds to what others say ... and then what reality is. If it's too good to be true its probably is ... a pump for a dump.

    I have just involved myself in crypto ... a modest expeniture for perhaps an increase in investment in the long term. However, as with gold and silver purchased here on SS and elsewhere, I've had some wins and some losses but mostly in the long term I'm ahead.

    Something if said on SS that I might've missed ... "Don't put your eggs all in one basket."
     
    Last edited: Apr 18, 2021
  6. lurking

    lurking Member

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    Start first with BTC, then ETH. When you can transfer these back and forth, know the fees etc, then transfering ETH tokens and BNB.

    Pretty much guaranteed if you jump straight in "the next bitcoin" and DeFi that you'll lose money just like those in 2014 and 2018.
     
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  7. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Seriously?

    3 completely different projects. And you would only buy USDT if you were going long USD v AUD (or whatever) or as a bridge between fiat and crypto and vice versa.
     
  8. lurking

    lurking Member

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    Actually the best answer to the OPs question might be that it doesn't matter so much, just take your time and make up your mind independently of online herds.

    ie. those who rush into crypto invariably lose their capital. Those who take time to understand all the different mechanisms and value propositions have returns on investment well in excess of stock or property equity.
     
  9. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    Binance Coin (BNB)
    Litecoin (LTC):
    Ethereum (ETH):

    Tether (USDT)
    Monero (MNR)

    Five different crypto's with five completely different objectives.
     
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  10. TreasureHunter

    TreasureHunter Well-Known Member

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    That's why I asked.

    Do you know any platform where you can buy with a bank card? Besides eBay, where they're overpriced.
     
  11. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    I believe the Edge app allows you to buy with a debit card.
     
  12. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    I understand Binance does as well.
     
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  13. Brendio

    Brendio Active Member

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    "That" was silver coins. Will be putting some up for sale, and might even add digitally signed message from the DOGECOIN address I used, just for lolz.
    [​IMG]

    My latest purchase with DOGECOIN are some socks for Kryptoez.

    [​IMG]
     
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  14. TreasureHunter

    TreasureHunter Well-Known Member

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    What do you think about Litecoin?

    It was supposed to be second to Bitcoin only. Like silver to gold. This is how they promoted it and initially it was not much cheaper than Bitcoin

    However, it seems like it has lost its shine and almost no-one even talks about it.
     
  15. hawkeye1

    hawkeye1 Active Member

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    Litecoin is/was a direct competitor to Bitcoin. Now that Bitcoin is pretty much the winner in that space, Litecoin will gradually fade into nothing (with ups and downs along the way, but it doesn't have some gimmick for people to attach to like Doge).
     
  16. hawkeye1

    hawkeye1 Active Member

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    Best advice. Few follow it.
     
  17. TreasureHunter

    TreasureHunter Well-Known Member

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    Besides DOGE and BTC, there's nothing that seems appealing or, what do you think?

    Ethereum looks like a business built around a creepy geek's empire.
    Monero seems like it's shady and with plenty of negative news and security issues around.

    Is there anything else?
     
  18. dozerz

    dozerz Well-Known Member Silver Stacker

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    they are all actually pretty good choices apart from tether which is a stablecoin and wont ever be worth more than $1.

    ill take a bet with you and say they will all be up significantly in value in the next 8 weeks.

    we have suggested others which you have ignored that suggests this is a pointless excercise.
     
  19. TreasureHunter

    TreasureHunter Well-Known Member

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    Didn't ignore a thing, just that after a short research, the all seemed they're dodgy, unreliable, not appealing at all.
     
  20. hawkeye1

    hawkeye1 Active Member

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    Probably around 95% of my crypto money is in Bitcoin.

    Used to have a decent percentage of ETH but dropped it because I don't think it has established itself as the dominant player in that space yet and will have serious competition. Also, have to distinguish between Ethereum (the network) and ETH (the token). Even if Ethereum the network has value I'm not sure that is going to directly translate to ETH the token being super valuable.

    Have a little bit of BNB because Binance seems to be doing a lot of interesting things. Also, own some NEXO, primarily because it gives me better loan terms, but also, Nexo the company seems like they have a good business model and that may well translate into a good price for the NEXO token. Also, MC is only about 2B, and they already have 100's of millions under management so room for growth there.

    Put a little bit in MANA just in case Decentraland takes off as an idea, but that's very speculative and an amount of money I'm prepared to lose. This is generally what I do if I see something that kind of looks interesting, I'll put in a small amount that I am prepared to lose completely.

    My general philosophy is that I'm not convinced of the long-term value proposition of shitcoins in general and don't have the patience for trading them. I'm more of an investor than trader.

    I think a lot of people think they have missed out on Bitcoin but the reality is that corporations, insurance companies, retirement funds, banks, and now sovereign wealth funds are all just starting to get into the space. Combine that with the fact you have trillions of dollars of non-performing bonds and now central banks themselves starting to discuss bitcoin as an investment vehicle and you have the potential for massive growth. Just wait until the first central bank announces it is buying bitcoin! That 1T MC can easily go to 10T or beyond in the next few years even before central banks start buying.
     

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