i need help with crypto (6)

3 Name: 410 - Name Gone : 2024-02-20 03:56 ID:o3xqJeP5

What >>2 said. What is your goal with it? There are really only 2 uses with crypto currency. The first is to buy drugs with it. The second is to utilize it as an investment tool, albeit a very unreliable one.

Bitcoin and Ethereum are the only two worth bothering with. You want to acquire some, hold it and sell when you've made a nice return on it. But don't hold so long that it crashes and you become a bag holder. Stay away from the shitcoins. They are ALL scams and you will lose money on them. Get a wallet (CoinBase, Crypto.com and similar...use a popular one, so you don't get scammed) and then buy bitcoins and hold on for dear life. Do not buy them from a source that doesn't actually let you take ownership of the coins. What I mean by this is that there are a lot of investment tools where you can buy something like Bitcoin but you don't actually take ownership of the coins themselves...as in they sit in your broker account and make gains or losses, but you can't actually use them beyond that.

If you just want drugs, same thing. Acquire wallet, download Tor and then find what you want.

Don't go "all in" on crypto though. It's not a very stable investment tool, so you only want to have it be a small part of your overall portfolio. Balance it out among other things like stocks, mutual funds, exchange traded funds, bonds, gold, silver, real estate and so on. If you don't know anything about investing then learn more before you try anything. See if your bank has any good accounts you can open for a newbie. Stick to ETFs, rather than trying to pick and choose individual stocks because you will just burn your money otherwise. Or if you really want stocks, then stick to "blue chip" stocks at first...blue chip means the stocks of the largest companies that exist since you can usually expect them to remain good. Think companies like Google/Alphabet, Lockheed Martin, 3M, Nvidia, Coca-Cola and so on. Again, diversify if you decide to choose individual stocks. You don't want to have 95% of your portfolio be in tech or banking because if those crash, you're fucked. Balance things.

Tl;dr crypto is pretty useless but it's worth holding at least a bit of BTC or ETH as part of a larger, more varied portfolio of investments in different sectors and tools. Let it all mature. Don't expect to cash out and get rich in the next 5 years. Have patience so that when you're 55-60 years old you'll hopefully have a good amount of money to retire with.

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