Cryptocurrencies

[RMA]

If you had to start your portfolio from scratch with $1k which coins would you invest in now?

That's what I did last month.Had a good Reddit read and general feel for two months and bought last month at the top!! 40% XRP 30% NEM 25%XLM and a sprinkle of BAT and minute decimal points of BC and Ether.Been throwing in some DCA but seems to find a new dip when I do that

If I had to start from scratch, I would only buy 70% btc and 30% eth and will keep rebalancing them from time to time to maintain this ratio.

[Cracaphat]

I have my accounts with bitflyer, bitbank, coincheck, zaif, liquid, xtheta, gmo coin, binance and bittrex. Now I mainly use bitbank. Buying a coin at spot prices doesn't make sense to me because of the spreads. On bitflyer you can buy bitcoin at spot price or from their exchange, always buy on exchange. For ethereum better use their lightning web to save on spreads.



You can send your coin (preferably XLM / XRP / LTC for low fees) to binance and buy ADA. It will take no more than 10-15 minutes to set up an account with binance, send a coin, buy ADA and withdraw ADA to your wallet.

Having said that, there are more than 10,000 coins and how would we know who will become next big shot. Just for the perspective, XEM was ADA of 2017. It was direct competitor of ETH and it rose from 20 yen to 240 yen in no time. So I never think that I missed anything, ADA can drop 90% next year for all we can know.
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You're a real pro and it would be easier in doing it like you said.But it's a hassle for me beyond checking often how's it going!!Once I take the time to look into it more,it'll be better,particularly concerning the spreads.And yes,you never know,that XEM might catch fire again.But it's all luck.If you hit that one,you're a genius.If not,at least try to enjoy and not use money you shouldn't.Thanx for your input.

[RMA]

You're a real pro and it would be easier in doing it like you said.But it's a hassle for me beyond checking often how's it going!!Once I take the time to look into it more,it'll be better,particularly concerning the spreads.And yes,you never know,that XEM might catch fire again.But it's all luck.If you hit that one,you're a genius.If not,at least try to enjoy and not use money you shouldn't.Thanx for your input.

You don't need to be a pro in rebalancing 2 coins. It's very simple. Even if you don't rebalance, it should be ok.

Let me share with you some of my other experience from 2017. Around 2017 end and 2018 begining, lots of coins were super hot including XEM, NANO, IOTA, VECHAIN, NEO, ADA, XRP, LISK etc. Let's assume you bought each coin at the top, I think you would have made some money on ADA but you would still be in loss on your overall portfolio. So there is no point in researching and guessing which coin will be the next ADA, instead just hold on to BTC and ETH or you may add some of XRP/XLM in your portfolio; all of these coins are available in Japan. Keep it as simple as possible.

Like I said earlier, BTC rules the market and ETH leads the altcoins. If you hold only these 2 coins, you are sorted for the most part.

However if you like challenges and want to outperform BTC, then understand how the money flows in this market. Big money first enters into BTC, then when it goes to the moon and stalls, the gains go into ETH and into thousands of other altcoins. After the bull cycle is over, money again flows back from altcoins to BTC.

[Cracaphat]

You don't need to be a pro in rebalancing 2 coins. It's very simple. Even if you don't rebalance, it should be ok.

Let me share with you some of my other experience from 2017. Around 2017 end and 2018 begining, lots of coins were super hot including XEM, NANO, IOTA, VECHAIN, NEO, ADA, XRP, LISK etc. Let's assume you bought each coin at the top, I think you would have made some money on ADA but you would still be in loss on your overall portfolio. So there is no point in researching and guessing which coin will be the next ADA, instead just hold on to BTC and ETH or you may add some of XRP/XLM in your portfolio; all of these coins are available in Japan. Keep it as simple as possible.

Like I said earlier, BTC rules the market and ETH leads the altcoins. If you hold only these 2 coins, you are sorted for the most part.

However if you like challenges and want to outperform BTC, then understand how the money flows in this market. Big money first enters into BTC, then when it goes to the moon and stalls, the gains go into ETH and into thousands of other altcoins. After the bull cycle is over, money again flows back from altcoins to BTC.

Got it.I agree with the keeping it simple playbook.And nice to read a perspective different from Reddit for a change.Thanx.

[Bushiman]

I have my accounts with bitflyer, bitbank, coincheck, zaif, liquid, xtheta, gmo coin, binance and bittrex. Now I mainly use bitbank.

Hey RMA...
In your opinion, after holding accounts with all those different companies, which is the easiest to use, most basic platform for a complete beginner to just buy some BTC, ETH and hold?
Thanks!

[RMA]

I have my accounts with bitflyer, bitbank, coincheck, zaif, liquid, xtheta, gmo coin, binance and bittrex. Now I mainly use bitbank.

Hey RMA...
In your opinion, after holding accounts with all those different companies, which is the easiest to use, most basic platform for a complete beginner to just buy some BTC, ETH and hold?
Thanks!

I use bitbank to save on spreads but for a complete beginner whose purpose is to buy and hold some BTC and ETH, I would recommend bitflyer. Just make sure to buy Bitcoin using their "exchange" feature instead of "buy/sell" feature to save on spreads. https://bitflyer.com/en-jp/faq/4-2

[Bushiman]

I have my accounts with bitflyer, bitbank, coincheck, zaif, liquid, xtheta, gmo coin, binance and bittrex. Now I mainly use bitbank.

Hey RMA...
In your opinion, after holding accounts with all those different companies, which is the easiest to use, most basic platform for a complete beginner to just buy some BTC, ETH and hold?
Thanks!

I use bitbank to save on spreads but for a complete beginner whose purpose is to buy and hold some BTC and ETH, I would recommend bitflyer. Just make sure to buy Bitcoin using their "exchange" feature instead of "buy/sell" feature to save on spreads. https://bitflyer.com/en-jp/faq/4-2

Thanks for the info!
After a lot of procrastinating, I'm tempted to dip a very VERY small toe in the crypto waters...

[RMA]

Hey RMA...
In your opinion, after holding accounts with all those different companies, which is the easiest to use, most basic platform for a complete beginner to just buy some BTC, ETH and hold?
Thanks!

I use bitbank to save on spreads but for a complete beginner whose purpose is to buy and hold some BTC and ETH, I would recommend bitflyer. Just make sure to buy Bitcoin using their "exchange" feature instead of "buy/sell" feature to save on spreads. https://bitflyer.com/en-jp/faq/4-2

Thanks for the info!
After a lot of procrastinating, I'm tempted to dip a very VERY small toe in the crypto waters...

All the best. Just buy and forget about it for 4 years and come back in 2025. Whatever happens just don't do anything stupid like selling at the bottom or going all in.

[mighty58]

3. Try to understand bitcoin 4 years cycle. It's actually very predictable.

No no no no Sorry, but looking at past performance is NEVER predictive. This is true for any asset class, but for crypto even more so (because it's history is short, and because the price moves without rhyme or reason).

5. Don't invest more than what you can lose.

Now there's some sound advice. And yes, I have money in crypto (about 6% of my portfolio currently), but I don't pretend for a moment it moves in rational or predictable ways.

[Cracaphat]

I reckon there's one more run this year before officially going into the so-called "Crypto winter" before year's end.I don't look at charts because even they're guessing.And so am I!