Originally Posted by FlippingCups

This is what i'll say about cypto and i know others will see this, so ill just talk to everyone. The advice I like to give with crypto and people just getting in is to use Decentralized exchanges like UniSwap, PancakeSwap, SushiSwap. Create a MetaMask wallet, connect your wallet to those exchanges and make your trades that way. Then disconnect the wallet from the exchange after you made your purchase and then hold all your coins in the MetaMask wallet. That is where you find the small market cap projects BEFORE they get listed on Coinbase,Binance. Once those exchanges make just an announcement of listing they pump like crazy for 48hrs. Of course these small cap coins are more risky, but have the most rewards. I only use Coinbase to buy my ETH with dollars then transfer it to my MetaMask wallet to make my trades and then use Coinbase to off ramp my crypto into dollars. Thats the only time I ever use coinbase.

If you want to play it more safe and less risk stick with the "Bluechip" coins such as ETH, ADA, DOT, MATIC and others at the top and buy and hold for 1-2 years. You will most likely double your money or 3-4x , but nothing like the 50-100x you see with the small cap coins. There is a nice dip happening now and im just watching it hoping to find good entry points. Patience is key and think longterm... too many lose by buying and thinking 10 days later it will be on the moon and then panic sell when it went down a little and as always dont invest what you dont mind losing.

Also, a good way to learn the basics such as setting up my MetaMask wallet, learning how to use UniSwap, how to secure your passwords, make transfers from wallet to wallet properly, I used Youtube back in 2017 when I began. Youtube is great to learn how to do all that stuff and getting setup, but DO NOT, I repeat DO NOT listen to Youtubers trying to tell you what coins to buy and what investment is good. 99% of those Youtubers prey on the newbies to try to promote their own coins that they already own so they can pump the price up on their viewers behalf. I learned the hard way back in 2017 and listened to those guys as they pretend to know what coins will pump next or what is a "good buy". I lost alot at the beginning doing that. I just take time to research on my own and find "real world" use projects and buy when they are in the $100M Market cap range and before they hit the big exchanges. Also look into staking.. i like that also for passive income. Goodluck!

Originally Posted by SonicFlyer

I love crypto but recognize that it is purely speculation which = gambling. It's commodities trading, not an investment.

Yes it's possible to get lucky, but that's all it is, luck.

Don't buy any with money you can't afford to lose.

Originally Posted by SonicFlyer

I love crypto but recognize that it is purely speculation which = gambling. It's commodities trading, not an investment.

Yes it's possible to get lucky, but that's all it is, luck.

Don't buy any with money you can't afford to lose.

Originally Posted by TransWorld

Commodities actually have physical things backing it up. Oil, Copper, Sugar, etc.

Originally Posted by SonicFlyer

So do many stocks

Originally Posted by TransWorld

I agree. Does cryptocurrency have anything physical, tangible to back it up? That was my point.

Originally Posted by SonicFlyer

Nope, but neither does cash.

Originally Posted by SonicFlyer

Nope, but neither does cash.

Originally Posted by TransWorld

Cash (in the US) is backed up by the full faith and credit of the US government.