Nov 5, 2021 01:39 AM
(This post was last modified: Nov 5, 2021 01:39 AM by bevc.)
I know virtually nothing about crypto, but I was wondering whether it is worth investing if you have no ambition to be a trader, or to be super-wealthy?
I have about $1,000 that is just parked in the bank at the moment that I have no plans for, so I was thinking I might just buy ethereum with it. But I'm not going to buy any more than that, and I haven't got any time to spend on it really (I have a job etc), it would just be: buy it, and then leave it.
I'm interested in opinions of people who know more than I do - is it worth bothering if you don't have the resources or the hours to put in?
Yes, it's a good idea. But the price is already high at the moment so you have much better alternatives. If I were you I would DCA and buy in when you see dips.
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Yes you can sleep on eth or btc, I so the same. I'm not daily searching for shitcoins who give you 5x gains but I've put money in btc or eth which I know will give me much much better return than banks would ever give.
(Nov 5, 2021 01:47 AM)Suggestion Wrote: Yes, it's a good idea. But the price is already high at the moment so you have much better alternatives. If I were you I would DCA and buy in when you see dips.
Ah, you see, this is pretty much exactly what I'm talking about - I really appreciate the advice, but I'm not interested in watching the dips or researching alternatives or anything like that. I'd just buy $1,000 worth, and then forget about it.
(Nov 5, 2021 02:00 AM)bevc Wrote: Ah, you see, this is pretty much exactly what I'm talking about - I really appreciate the advice, but I'm not interested in watching the dips or researching alternatives or anything like that. I'd just buy $1,000 worth, and then forget about it.
yes, then ETH is your best option. Buy it on the dip though. It’s been in the ATH territory for a few days now.
(Nov 5, 2021 02:10 AM)Marvelous Wrote: yes, then ETH is your best option. Buy it on the dip though. It’s been in the ATH territory for a few days now.
Well, I also need to figure out HOW to buy it, so that'll take me a few days (register with an exchange, buy, and then store the coins, right? Can you store them on a laptop rather than a smartphone?)
(Nov 5, 2021 02:19 AM)bevc Wrote: Well, I also need to figure out HOW to buy it, so that'll take me a few days (register with an exchange, buy, and then store the coins, right? Can you store them on a laptop rather than a smartphone?)
Simply register to an exchange and buy. Some exchanges are on both desktop and smartphone. If you want to store crypto securely I recommend using a cold wallet.
(Nov 5, 2021 03:41 AM)Suggestion Wrote: Simply register to an exchange and buy. Some exchanges are on both desktop and smartphone. If you want to store crypto securely I recommend using a cold wallet.
Yeah, but I'm worried about the exchange going down or getting hacked or whatever. $1000 is still $1000, you know?
I'll look into cold wallets, thanks.
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It is a good idea but you'll need to understand a lot more of the technology to truly grasp why people have and use Ethereum.
(Nov 5, 2021 04:24 AM)shreder Wrote: It is a good idea but you'll need to understand a lot more of the technology to truly grasp why people have and use Ethereum.
Yeah, this is kinda my question - I understand the very broad strokes, it's a digital currency for direct payments, right? So 'Ethereum' is the network or whatever (and the currency is.....ether? eth?).
But I'm not particularly interested in learning about NFTs or anything like that, I'm just interested in whether I'm better served parking a little bit of savings into crypto rather than putting it in the bank.
$500 BTC
$500 ETH
Do nothing else.
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