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 Coins.ph is a Philippines specific exchange (Coins.co.th for Thailand).
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
cryptocurrencies are not real money and i don’t think it will last very long right now we have more than two dozens of cryptocurrencies and every few months we have a new one coming out but what can you buy with it ? nothing other than exchange it for real money so the only value of bitcoin is from people buying it but what will happen when everyone starts to sell ? we need dollars or euros or peso to buy stuff but we don’t need bitcoin. i think bitcoin is just a gamble rich people are holding on to their coins until people stop buying then they will sell it and never touch it again.
People probably said that back when bitcoin was in the low 100s… now we have entire countries making it legal tender.
Paper money is only a representation of value too. There’s nothing inherently valuable about anything, we just decide certain things like a dollar, coin or a bitcoin have value. ‘Money isn’t anything objective’ – Ted Talk https://www.ted.com/talks/neha_narula_the_future_of_money#t-55480
But this is a more convenient form. Lower transaction costs (no physical objects), more anonymous, and faster. Alt coins are even better. No banks, anyone can be a cryptocurrency miner. There are quite a few things you can buy with btc already (often you get a discount with it) and more businesses will accept other cryptos over time.
I’d agree the random coins are pointless (there are over ~700 different cryptos). So just stick to the main ones… like some fiat currencies are worth more than others.
I don’t think Ethereum is going anywhere. Golem isn’t really about buying stuff it’s a technology for sharing computer power – https://golem.network/
The governments and central banks have been dreaming of a digital monetary system for years and this may be how they get it. Cryptos are soaring in price, and represent great speculations but one should consider freedom implications should we all end up in a cashless society. They do have major risks in terms of security and privacy, and there is nobody to help you if your cryptos are stolen or hacked. The blockchain is NOT private as many falsely proclaim. So the IRS will know if you are not paying capital gains or if you want to use your bitcoins for anything the government considers illegal. Gold and silver coins are another option should our national currencies become worthless due to more “quantitative easing” and zero interest rate policies.
Alt coins Monero and Dash are more anonymous than BTC and better for black market things, so I hear. I wouldn’t really bother with BTC at this point.
Hope you still holding the 3k worth of eth 😂 cuz I got as much as I could back when it was $100.
Have a million….. pesos of it hehe
Store it somewhere safe, hold and pray to lord Vitalik. 😎
eth and golem up another 10%, 400 and 0.60
Cryptocurreny is the only way the Chinese can get their money out of the country. When they stop that It is all downhill. Governments acknowledged it so they can start taxing it.
How are your cryptos doing jspill? Got rekt in the mini crash from 20k to 13k or still doing fine?
I still think cryptos have no real value tbh but thinking about getting into trading them given the crazy fluctuations.
I moved into eth and omg a few weeks ago, and then this week into xrp, doing well
Xrp is supposed to have real world use cases and therefore more ‘value’ – https://youtu.be/YQZzQELODLI
I had a look at Ripple’s usage cases and I’m not really convinced tbh that they’ll take over existing FX services.
CryptoKing is also shilling the Bitconnect ponzi scheme with shady MLM type events in Thailand of all places. https://www.youtube.com/watch?v=pxY2hR26OwM
I’m still a crypto skeptic but I wish you good luck none the less.
If I finally find some time to do more in depth research I’ll post my findings here.
Oh didn’t realise he was shilling bitconnect, only saw that ripple vid. New to his channel. Won’t watch any more of his stuff then.
I like altcoinbuzz, crypto investor, datadash, boxmining, the right trader & i love crypto, who predicts $15 xrp – https://www.youtube.com/watch?v=0YxjyLKjj28
This is all just one giant bubble waiting to burst. I just hope you make your profit at the end of it all before the crash hits.
* This is all just the best performing asset in the world every year since 2009 – 2017 with the exception of 2014, beating all global currencies, equities, commodities, bonds, ETFs, real estate throughout that period. Bubbles are usually short-lived, they don’t keep bubbling for eight years.
I’d beg to differ….plenty of bubbles lasted eight years or more I’m sure. Too lazy to do the research but I guarantee 90% of people “investing” in cryptocurrency don’t really understand it.
I tried several times to read and learn about Bitcoin and I still don’t get it.
I get the basic retard level shit, blockchain, computing power, etc, but not the technical aspect or what makes it valuable (which is nothing. The value is purely in the belief that is is valuable, which is because other people agree it’s valuable.)
One can argue the same about any currency in the world, however, if you hold say, Euros, pounds, or Dollars, you have the backing of that countries economy. Bitcoin doesn’t have any backing of any sort, just a flimsy belief by a few nerds and a bunch of idiots who have no idea how it works throwing money at it because “its the money of tomorrow”.
I’m not saying you won’t make money. I’m saying that what goes up, must come down. I wish you and everyone else investing the best, I hope you make millions. But I also hope you sell most of it before it eventually crashes. That’s all I’m getting at.
Bitcoin and other bullshit is overvalued. The ONLY reason it’s so highly priced is because so many idiots are putting money into it and they have no idea why.
When it was just a bunch of nerds it was worth nothing. Now every joe blow has a bitcoin wallet, which is what drove the price up. Eventually the REAL investors, the ones who have thousands of bitcoin, are going to dump their shit and invest in something with actual value (say, Amazon stock, or gold, or a fucking yacht) and when that happens, OR when Joe Blow the idiot collectively panics and mass sells because Kim Jong Un tweets something stupid or CNN says Trump is going to personally destroy bitcoin or whatever event you care to imagine, there WILL be a crash. And it will be massive.
Even so, I hope you make a ton of money and sell before that occurs. Not wishing anyone ill, just talking about basic history.
Really do hope you cashed out before all this. Like I said, I hope you made a ton of profit and then ditched it like a bad habit.
The stock market is down $1 trillion this week too. Gold is down. Lots of investments and funds have had a bull run in Dec and now corrected down to where they were 2.5 months ago. Same as the cryptocurrency market. Markets go up and down.
I wrote the first bitcoin post on this site 15 months ago when it was at $650… then this follow up post 7 months ago at $3k, it’s still double that. Some alt coins outperform bitcoin and didn’t drop as much.
None of the things you mentioned dropped 40% in a week though.
I predict Bitcoin will fall below 1000 USD in 2018.
So I finally found some time to research cryptos and based on the hype around cryptos I think it’s a good investment indeed based on hype alone and people’s willingness to dump money into them for short term gains.
Long term wise ICOs aren’t legally enforceable anywhere yet to my knowledge and for coins a better coin could come up any time.
I’ll invest some more time now to find some good investment opps. Took quite some time to get my Kraken account verified.
I use binance I find it a lot easier
I bought about 1 btc worth of raiblocks yesterday https://i.imgur.com/L3DNeDQ.png
Price went from $20 to $34, up $10k on new year’s day ^^ Good start to 2018
I did so because of the right trader’s youtube videos on it, he explains why it’s a good pick:
Was 20 cents on Dec 1 so I could’ve been up $2 million if I bought then
Dang bro rungood4life
Well, hope you cashed out…