Hello Guys!
Today I will start a series of investing tips, advices and options!
Since I have been investing for a few years already, I remember how lost I was at the beginning and I'll try to share my experience.
Advices for Beginners:
- Don't invest more than you afford to lose!
- Inform yourself!
- Be patient! I see a lot of guys out there buying without any idea about what he's buying, then selling next day with some loss, then buying again something else.
- I recommend starting with a small amount of money. For example, if you have 1.000$ to invest, start by investing 50-100$. You can lose money if you're not aware how the broker's working or what commissions you need to pay. After you make the first mistakes and learn how to avoid them, invest again a small amount so you can learn from other mistakes without losing so much money.
- Don't go on leverage with a lot of money! I will explain later how leverage works, but you should avoid it as a beginner.
Here are my recommendations:
If you want high reward but high risk, you can use Binance to trade crypto. Remember, you can double your money in a few hours or days but you can also lose 50% of your money in a blink of an eye. I will talk more about crypto soon, but you should know that there are a few types of crypto coins:
- The old cryptocurrencies with big market caps like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) that will not make you rich over night but are a lot safer than others.
- The cryptocurrencies with lower market caps (altcoins) like Polygon (MATIC), VeChain (VET), Zilliqa (ZIL), Polkadot (DOT), Harmony (ONE) that are usually more volatile and you can have big profits, but are more risky.
- The "Shitcoins" or "memecoins" that have no real project behind them and are usually a copy of other coins or names of celebrities, like Shiba Inu (SHIB) , FuckElon or Keanu Inu (KEANU) that are the most volatiles, can have big jumps in price but usually end up worthless.
If you want almost no risk at all, you can choose staking. You can go on Crypto.com and you can "lock" a minimum of 250$ for 1, 2 or 3 months, for an APY of 10-12%! So, if you lock 1.000$ for 3 months, you'll have about 1.030$ after the 3 months. Of course, it's not much but, over long periods of times, it's worth it! You can also try and combine staking and stocks with dividend stocks like AT&T, you still have the stock's risk and reward but also have the dividend yield.
Let's make some math. If you invest 250$ every 3 months, you'll have:
257.5$ after 3 months
515.23$ after 6 months
788.18$ after 9 months
1069.32$ after one year
2280$ after two years
3644$ after three years
5179$ after four years - 1179$ profit in four years. Not much but it's more than 25% of what you invested.
You can also use staking on binance with cryptocurrencies, you have, for example, 43% Annual Percentage Yield for Matic, if you lock it over periods of 15 days.
So, if you don't mind losing a few hundred bucks and you want to try to get rich quickly, you can try Alt Coins... If you want less risk, try Blue Coins (BTC, ETH etc). If you want to really know where your money goes, buy Stocks. If you have a good amount of money and want to get rich safe and slow, go staking.
I will come back with more investing tips and explanations in the future posts!
If there are any questions, please ask.
Thanks for reading-To the moon!
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