Which Cryptos to Buy? ETH Hits $350, BTC $3000
Since I bought some Bitcoin 7 months ago and did a post on it the value of BTC rose from $650 to almost $3000 today. In April Japan legalized Bitcoin which pushed the value up a lot.
I bought some Ethereum (ETH) / swapped some BTC for it, and that rose from $40 to $350 today. I sold at $100 fearing a crash then bought back in at $200.
Will Ethereum Overtake Bitcoin?
This article has a cryptocurrency hedge fund manager’s prediction that ETH will be worth more than BTC, as soon as 2019, so I have no plans to sell now. Even if it does crash I’ll just hold for the long term.
Singapore has just digitized their currency on the ETH blockchain whatever that means.
Will Cryptocurrencies Crash?
Many people do think cryptocurrencies will crash or at least see a large market correction, but long term they should still recover. Bitcoin crashed in 2013 then recovered.
Some talk of a ‘digital gold rush’ or compare cryptos to the dot com bubble, but the strongest companies recovered from the dot com bubble too.
There have been some small dips and minor market corrections back to the mean already. The question is which are the best cryptocurrencies to invest in and when, and when to sell. No one knows.
Which Cryptocurrencies I’d Buy
I’m still learning about cryptos, but some commenters have been asking which other cryptos I bought. I got some Golem (GNT) at 40 cents and it rose to 56 cents now. A bit of Dash and Augur and those went up too.
Some readers here mentioned Factom, Waves, and Stellar Lumens, also on the rise. I don’t know much about Litecoin or Monero but those get talked about a lot too.
A good Youtuber to subscribe to is the channel Boxmining on Youtube or his site Boxmining.com. Chinese – Canadian guy who breaks things down simply.
‘No one knows WTF is going on’
There are hundreds of coins but it’s best to stick to the main ones, all those listed above or mentioned by commenters are in the top 25 on Coincap.io, which ranks cryptos in terms of market share.
Research ones with high market share on Google and spread some money over a few you like the sound of. Some say Ripple is a scam though and Dogecoin was started as a joke so maybe avoid those two.
Only invest what you can afford to lose. I like ETH and GNT, they can both be stored in Exodus wallet, everyone is bullish on ETH and GNT is very cheap so the percentage gains are high.
Waves and Stellar Lumens are also cheap, there’s not much to lose by investing in those and seeing what happens. I haven’t bought any yet though.
The percentage gains with Bitcoin will be low because it’s already worth a lot, but you could hold some Bitcoin if you’d prefer low volatility, it likely won’t drop more than 30% overnight like Ethereum has before.
Some are saying BTC will stagnate now. At the moment I have 75% of my crypto funds in ETH and 25% in Golem, none in BTC.
Bitcoin ATM in Manila
How to Buy Cryptocurrencies in the Philippines
The steps are basically the same for any country. Coinbase (link for $10 of free Bitcoin) charges 1% to buy BTC, ETH or LTC.
Or shop around for an individual trader on Localbitcoins, it will automatically show you traders in your country. Pick one with 95% or better feedback, ideally 100%, and at least 30 past trades, ideally hundreds.
Once you’ve bought bitcoin on one of those three exchanges get it off and into Exodus or Jaxx wallet.
Within Exodus you can swap BTC for other cryptos (Augur, Dash, Ethereum, Golem, or Litecoin) of your choosing. There’s an exchange function built in.
Or send Bitcoin from the exchange to Shapeshift.io, select which crypto you want to receive, enter your wallet address for that crypto in Exodus, and choose ‘precise’ option.
Put in the Bitcoin refund address you’re sending from in case anything goes wrong. Or the BTC address of your Exodus account. Exodus and Jaxx have shapeshift.io built in, you can use that or do it yourself.
Your coins are safe with a downloaded wallet like Exodus or Jaxx. Your info isn’t kept on any servers. Don’t store your coins on online exchanges which could be hacked.
You could open a wallet on each just for extra security, Jaxx has a few alt coins Exodus doesn’t, like Gnosis and Ethereum Classic.
$10 free when you buy $100+ of Bitcoin on Coinbase