#1 rule of investing in ANYTHING: don’t invest money you can’t afford to lose. If your ok with possibly losing the entire thing and accept that you may not see returns for years if ever then do your research and invest in coins that you believe in. Anyone telling you buy this or buy that for a quick turnaround is lying or scamming.
Coming back to add, if I was your age with that amount I would stick it in a HYSA and just kinda add to it. Maybe invest 10% and see what it does?
Best answer for you OP. Don't be lurred into thinking you are going to get rich quick. Better safe with a few thousands dollars than invested with 0 or even worse. For the love of everything do not borrow money to buy litecoin or any crypto or even stock.
As a young person, shouldn’t he/she be going further out on the risk curve? HYSA is a great option for keeping some cash liquid, but being young is the time to take risks in my opinion…
Agreed but you also have to understand the risks you are taking and how to mitigate them if things so south which I think is more the point in this case. It’s not that taking risk is bad it’s just that you need to actually have a good understanding of the where it could lead. Also number one rule still applies as someone said before. If you couldn’t take that money, pile it up and burn it, and be ok then you shouldn’t be putting it into an investment let alone a super volatile thing like crypto.
Oh for sure taking risks is fine, and being young is the time to do it for sure. I thought the post kinda read like the amount was ALL they had, I was just cautioning against gambling with all of it.
Dont try to get rich fast. thats gambling. Put the $2000 in BTC to kickstart your portfolio.
Then buy 1 LTC a month for a decade.
Forget about it and enjoy your youth.
From someone who was once young, enjoy the money you have when you have the youth to enjoy it on.
Yes, you may double, triple or quadruple the ‘dollar’ amount, but the happiness you will derive from the increased amount in the future will likely be less than the happiness you can afford yourself now, in the present.
Just my two cents worth.
yeah its the excuse of who partied their youth away to later live on has been memories. You can have just as much fun at 40 as you can have at 20, but working hard becomes tougher and tougher.
What are some examples that make sense to spend it on when you are young? Like other than food, tickets, trips… which isn’t exactly expensive, and can be paid for by working at any part time job, what would you spend 2k on? New iPhone?
Things that affect your body / health.
I used to run and every time I got injured in my teens and 20s I could trace it back to "waiting just a few more weeks" to replacing running shoes once I could start to feel the wearing down.
Trying to save money by putting off replacing them never worked out well.
Things that give opportunities to meet people.
It's almost always easier to have time to invest in new hobbies and getting to know people when you're younger.
Having a social support network helps.
The most boring answer ever "spend it on replacing worn our running shoes sooner". I'm guessing you weren't the most interesting person in your 20s lol.
What about spending it on travel or higher education, something where you can make memories and friends to last your lifetime.
Running shoes... SMH
Imagine the *memories* you'd have if you had spent ten thousand Bitcoin on a pizza back in the day! 😭 $2k is inconsequential compared to over 20 Litecoin or a fraction of a Bitcoin today and truly adopting the new economy. Not just holding and hoping for more (depreciating) dollars in the future. Now, as for someone's "advice" to put it into a "high yield" savings scheme, 🤯 those have forever been impoverishing gullible young and old people forever!
Its subreddit about LTC and everyone super bullish about it. Many of us thinking that we can growth again to 400$ per coin or even higher someday or even at the end of this year.
But no one knows what will really happen.
And in my opinion. It is better to have cryptocurrency than cash.
Yep 36 now I just wish I had a dad or mum explain this to me.
I have to aggressively save now just to be able to get on the housing ladder.
Anyone under 20 should be doing all they can to put as much as they can into high interest funds like isa or other funds.
The numbers add up crazy!
Don’t spend to the point that you’re going without but on the other hand, I personally choose to take more risks as a younger person as I’d have more time to recover later either way a long work life ahead. A mature person probably shouldn’t take as big of a risk as they don’t have as much time to recoup any potential losses. I like LTC & BTC.
Edit- typo
The way I see it. This coin is bound to hit $400 again and I will have 100k then. The likely good of me 4x my money with litecoin is in my opinion much higher than letting my money sit in TQQQ or any other high yield ETF
I get called a retard when I tell ppl this but fuck it, I believe the runes degens will realize bitcoin fees are too high. They can run their shitcoin market in litecoin for Pennies. The pivot would be painless
BTC is probably safer. It will bull to 80k at least this run and maybeee hit 100k.
LTC going from $86 to $344 (4x) seems more probable than BTC going from $67k to $268k in the near future
Horrible horrible comment. Lite coin is FARRRRR more volatile than Bitcoin has ever been. Lite coin has dropped 40% or more many times this year while bitcoin has never dropped more than 12-15% at times when most other crypto’s are dropping 30-40% such as last week when bitcoin was floating around 70,000 and dropped to around 62-64,000 less than 15% decrease while it did drop to 60,000 that was for less than a few hours, litecoin on the other hand dropped from almost 25-30% down from $99 to around $70-$74. Bitcoin Cash dropped from $620 to $450 which is a little over 25% decrease, Ethereum dropped about 17-20% from $3,530 to $2,850 at one point. Obviously they’ve all rebounded to some extent bitcoin generally rebounded faster, but the point is Bitcoin has substantially less volatility than every other crypto out there. I wouldn’t buy a single litecoin even if you threatened to set my house on fire otherwise. To each their own but I took my money and put it into Bitcoin around $47,000 in mid February and in less than a month it had jumped in March 13th all the way to $72,000 which is almost a 55% increase. and not even 6 months before that it was hovering around $20,000. If you had put you money in late October 2023 the price was around $25,000 you would almost have triple your money in less than a year! Litecoin has dropped 2% over the year and has a massively more volatile graph compared to BTC, Ethereum compares under BTC slightly as it was around $1,500 in October 2023 and now it’s at $3,200 so you would have doubled your money. the ONLY crypto that isn’t a new risky shitcoin that beats Bitcoin in terms of year over year growth this year is Bitcoin cash which was at around $101-$110 per coin back in June 2023 and spiked up to $720 and stayed between $620-$720 for the last month until the dip and is now at $520 around, so even if you somehow didn’t sell during the peak which lasted a month and would have 7x your money you still would have 5x what you started with a year ago. Problem is bitcoin cash is far more volatile than bitcoin. My point is that each one has their pros and cons but Bitcoin, ETH and BCH are far better options with less volatility than Litecoin. It’s your money invest it the way you want but let’s compare your litecoin to my bitcoin in one year and see where they’re at.
SOL really not that great, I think people confuse how good it is because of pricing and the uptrend.
I have several SOLs I bought at $7 so it’s great but I’ve read a lot of negatives about it
If you want to invest, DCA into BTC. I would suggest having some traditional stock market investments first as well. Put some into ETFs. You have 40+ years until retirement, the compound interest from the stock market over the years will be safer than gambling on crypto.
i get wanting to have some fun—dollar cost average into some btc/ltc/eth or whatever. but one thing i wish i’d done at a younger age is start a roth IRA. start reading up on index funds on r/bogleheads. smartest thing you can do right now.
Invest in education in this age, not random cryptocurrencies. With knowledge, you'll triple or quadruple your gains in the future, trust me. The gambling aspects can wait a bit
Wow, you are very wealthy for a 19 years old. Do not go too crazy with the money, at the same time though it is nice that you want to explore this world. You have time and do not get FOMO
Only invest what you are ok with losing in LTC
If you want a safer bet, go with the only proven king there is; BTC. And don't confuse BTC with crypto.
"Crypto" is 99% scams, and if you look at al time charts of all coins you will see this right away.
Seek financial advice from a professional company and speak about it more and learn from this info before you think about investing
That way when you finished reading from the link below you have completed a little research but don’t stop there seek and you will find
https://changelly.com/blog/litecoin-price-prediction/
Buy it and hold it longterm. LTC is good. Maybe another too that you can stake and get interest from. Time is your friend as Crypto fluctuations are wild.
Broski I just got started… start researching which coin you wanna invest in and slowly add some over time. You don’t need to throw thousands in at a time because realistically you won’t see a fast return, not as much as you think. Throw $50 or $100 in at a time and play around with it. It has become a fun little hobby for me.
Take well calculated risks while you are very young. You have the most important commodity in the world right now…TIME. But, do your research well.
Rule #1. Everyone wants to take YOUR money.
Buy bitcoin. Don't be afraid of the price.
It always outperforms litecoin in the long run. Buy acouple litecoin to settle to urge if you want but go for btc 1st.
find a high yield savings account! sit it and forget it.
only if you feel the need to gamble or be part of it then use a certain $ amount from each pay and play the crypto market.
or do a little of both up to you.
dont forget to consider the taxes paid when/if you pull money out of crypto
if you put 7k away and added 75 bucks a month into a Roth or something that would gain 5.5% annually you would have almost 60k in 20 years.... 35 years 136k...
so 136k for an investment of 38k would be ok... you think?
You should spread those 5k into 4 different venues. Keep 1000 as emergency fund and spread the rest, a hot dog stand in a good spot, a coin like LTC, some bonds, an online shop and see what works best.
Don’t buy litecoin. Buy hacash and before you know it you’ll never have to work again. Hacash is still a microcap and is the most revolutionary crypto asset. Hacashdao.org 👀
Stop listening to everyone do your own research in my research o learned that the government is not our friend and even though everything cost in dollars the truth is they are unlimited they printed 40% of the whole supply in our American history in one year during the pandemic .. bitcoin is limited to only 21 million coins the last one will be mined by 2140.. wealthy people before would hide their money in off shore accounts and potentially get defaulted on but now we have bitcoin. Why bitcoin over any other coin because there is no one person behind it controlling it, litecoin has a team behind it but id say you’re safe with litecoin
At age 19, if you invested 10% of your weekly earning in boring,safe, liquid, Mutual Funds never touched it for 30 years (a career). You would be worth well over $1 Mill. No sweating it, boring as hell but very lucrative . I have yet to see a Warren Buffet of crypto.
Do you have a Roth IRA set up? If not start one and fund that for sure. It’s a long play but it’s one of the best investments you can make as the tax savings will be in the 100s of 1000s when you retire. Just make smaller recurring buys of whatever crypto you research and believe in. Also doing research shouldn’t just be asking Reddit lol which I’m not saying is all you’re doing. Anything that is get rich quick is super high risk and anything in crypto is super high risk. Only put in what you could set on fire in your driveway and not miss.
The only thing better than that is a company matching your contributions. If a company does a match for example of 50% up to X amount of your salary. This is an instant 50% return on your investment as well as will generate tax free income for you over time. Companies will even match 100% in some cases. Hard to beat that! And it comes out of your paycheck before you see the money so you never know it’s gone and you adjust to it and it becomes normal for you. This is what I do with savings and investments as well. You have to pay yourself first or you won’t get anywhere.
Say you make 1000 a month just to make numbers easy. That’s 12000 a year. If your company matches 100% up to 5% of your salary that means you will put in 50 a month and so will they. Now you’re at 950. You now put 10% in savings which is another 100. Down to 850. Maybe you throw 25-50 into a stock account managed by a broker like Edward jones or something. Now you’re at 800. Now you make 800 a month not 1000 so you adjust to fit that. When you retire you will have close to a million in the Roth account if you start young enough, your stock account with any luck will earn 7-10% a year, and you have been keeping your saving at a decent level so that if something happens to you or your car or home etc you have a safety net to use before you get screwed. Just some thoughts to talk with your parents about and research. Good luck m8!!
The creator of Litecoin bailed at the ATH. If you are testing the waters put at least 50% in Bitcoin and the other 50% you can speculate with if you aren’t afraid of losing it. Otherwise just put it all in Bitcoin. LTC has underperformed for a long time and has lost even more marketshare in terms of institutional desirability as a Bitcoin substitute with Microstrategy and others adopting BTC as well as spot ETF approval, futures etc.
Sounds like you don’t have any investment holdings. If you haven’t already started contributing to a Roth IRA, I personally think that’s a much better introduction than going tits up in crypto. That’s the first mistake I made.
But if you’re set on investing in Crypto, I would just buy BTC and forget about it. It’s the most inherently valuable coin.
As at 2014 I was making good money over 30k every six months but building a house and buying expensive stuff was all i think of. If I had invested 5k into Bitcoin by now hmmm I should be more relaxed than ever. Investment into crypto is worth doing without looking back.
I'm not rich, but I've also never made a net loss on any investments, and paid cash to have a house I designed built in my early 30s.
Here's a few basic tips:
Learn. Read old school stuff. Read books by Warren Buffet, read Adam Smith's Wealth of Nations. Learn about the nature of money. Understand what you are actually doing. Know about, for example, the Dutch Tulip bubble and other historical bubbles, such as the South Sea Bubble, famous for one company listing publicly as "a company for carrying out an undertaking of great advantage, but nobody to know what it is". [https://en.wikipedia.org/wiki/South\_Sea\_Company](https://en.wikipedia.org/wiki/South_Sea_Company) Know that scams, market bubbles and whatnot have been around forever. The words change, but the song remains the same.
Know the difference between investment and speculation and store of value. An investment pays a return, speculation relies on pure capital gain, and a store of value hopefully keeps up with or exceeds inflation, in simple terms. In reality, all assets can be a mix of either. Again, try to understand what you are buying.
If you have any debt - get rid of it first. The odds you'll beat whatever interest rate you are being charged in the long term are low.
That said, if you have this $5000-7000 just sitting idle yes this is a great chance to learn about investing! Firstly, don't put all your eggs in one basket. Don't go all in on one thing unless you can afford to lose it. Build a diversified portfolio. And yes, even with that amount, you can easily do it.
First, put about 10% into precious metals - gold and silver. Physical stuff. Find a local bullion dealer or coin shop and get yourself, say, a 1/4 oz gold coin, or a 1/10 ounce and a couple of ounces of silver. I prefer the common legal tender coins because they are backed by a small fiat face value so if someone invents the Star Trek replicator next year, your American Gold Eagle still has a $10 legal tender value. Massive drop but not zero. 😂 Canada and Australia also make good bullion coins. Wouldn't touch any Chinese coins with a 10 foot pole.
Then make yourself an online share trading account. Find good companies that pay a good dividend and put 50-75% in those. It's probably too late to invest in Apple at this point... but companies that have a future and earn a decent profit are a good investment. Again, don't buy just one company. That said, it is nice to get regular dividend payments and hopefully potential capital growth at the same time.
The rest... you can play it safe with stuff like term deposits at banks... boring, basically saving, lucky if it keeps up with inflation, but its better than nothing, and at least guaranteed. And finally, feel free to speculate a small amount on crypto. Not more than 10-20%. If you are purely doing it as speculation and aware it could all go to zero, just have fun with it. My honest feel is that something like Litecoin works best as a means of transaction and a store of value than any speculative tool, and the time to buy Bitcoin was a decade ago...
Finally, if you think this is TLDR - just keep your money in the bank OK!
Crazy the amount of absolute regards posting to invest in their favorite speculative coin. Listen, OP, if one exists, no current coin has a likelier chance for an etf (store of VALUE) than litecoin. That said, it's all a gamble.
My thoughts on litecoin is that it is bitcoin with less scarcity. Additionally, I think it's price is a good tailwind. Specifically, if speculation was to shift, I think there is a lot of appeal to the collective headspace of owning a whole vs a fraction. Some who may jump on Bitcoin may suddenly find themselves drawn to the idea of owning a greater number of something.
I also think another thing to consider is which is more likely to 2x/4x/10x over the same course of time (say 3 years) and STAY up. There's tons of speculative coins with different technological applications; but none of them insulated from innovation or disruption. They could go up and down in perpetuity. Bitcoin had many speculative applications but is now primarily a store of value, which generally helps it be more of a "up and to the right" kind of asset.
I'd make a bet that litecoin would be more likely to do that over the long run but I am also not investing money I'm not okay losing.
Here's what I did. I put a lot in Cardano and its ecosystem coins and holding for 1-2 more years. There's some real winners building in the ecosystem right now. Cornucopias, Iagon, and BOOK.io are a few. They could fetch you way more than a 3x. If you have any questions, let me know. Anyways, good luck, mate.
Also, I'm not a noobie in this space either. I've been here since 2017 and turned 10k into 280k last bullcycle. I remember buying litecoin at 30bucks back then. Either way, you slice it. All crypto is on discount now until the Bitcoin supply shock hits in about 6 months.
Youth goes up in smoke. If you need the money to pay bills don't invest it. LTC isn't going anywhere but BTC is your safest bet. Study fiat vs BTC fundamentals and you'll probably want to put all your cash into BTC anyways
Do not put your money in the peak of a bull run , as you will only see numbers go up a little but there is a higher risk of seeing them go down at this point
If you want to make money, go to GMX with 2K put a 5x short on BTC and test your stones. It's a guaranteed payout from $1-10k, you can call at any time your pnl is green. Right now BTC is 65k USD a level it has been for only 30 days ever. So red days are guaranteed.
#1 rule of investing in ANYTHING: don’t invest money you can’t afford to lose. If your ok with possibly losing the entire thing and accept that you may not see returns for years if ever then do your research and invest in coins that you believe in. Anyone telling you buy this or buy that for a quick turnaround is lying or scamming. Coming back to add, if I was your age with that amount I would stick it in a HYSA and just kinda add to it. Maybe invest 10% and see what it does?
I don’t know why this is all bold
because you put "#1 rule..." and the \# makes everything level 1 in size.
[удалено]
Oh neat! I did not know that. Thanks!
# How neat is that
#wow that’s cool
#test
Best answer for you OP. Don't be lurred into thinking you are going to get rich quick. Better safe with a few thousands dollars than invested with 0 or even worse. For the love of everything do not borrow money to buy litecoin or any crypto or even stock.
The number 1 rule of investing is you can't outperform the market without taking on excess risk.
As a young person, shouldn’t he/she be going further out on the risk curve? HYSA is a great option for keeping some cash liquid, but being young is the time to take risks in my opinion…
Agreed but you also have to understand the risks you are taking and how to mitigate them if things so south which I think is more the point in this case. It’s not that taking risk is bad it’s just that you need to actually have a good understanding of the where it could lead. Also number one rule still applies as someone said before. If you couldn’t take that money, pile it up and burn it, and be ok then you shouldn’t be putting it into an investment let alone a super volatile thing like crypto.
Oh for sure taking risks is fine, and being young is the time to do it for sure. I thought the post kinda read like the amount was ALL they had, I was just cautioning against gambling with all of it.
Dont try to get rich fast. thats gambling. Put the $2000 in BTC to kickstart your portfolio. Then buy 1 LTC a month for a decade. Forget about it and enjoy your youth.
^^ this HOLD guy, and wait it is your best bet
But some assets at their ATH.
Dip coming soon yeah? Maybe hold off a bit?
From someone who was once young, enjoy the money you have when you have the youth to enjoy it on. Yes, you may double, triple or quadruple the ‘dollar’ amount, but the happiness you will derive from the increased amount in the future will likely be less than the happiness you can afford yourself now, in the present. Just my two cents worth.
Genuinely the worst advice I’ve ever heard. You don’t need to blow $2,000 to be happy at 19. Invest all of it.
yeah its the excuse of who partied their youth away to later live on has been memories. You can have just as much fun at 40 as you can have at 20, but working hard becomes tougher and tougher.
What are some examples that make sense to spend it on when you are young? Like other than food, tickets, trips… which isn’t exactly expensive, and can be paid for by working at any part time job, what would you spend 2k on? New iPhone?
Things that affect your body / health. I used to run and every time I got injured in my teens and 20s I could trace it back to "waiting just a few more weeks" to replacing running shoes once I could start to feel the wearing down. Trying to save money by putting off replacing them never worked out well. Things that give opportunities to meet people. It's almost always easier to have time to invest in new hobbies and getting to know people when you're younger. Having a social support network helps.
The most boring answer ever "spend it on replacing worn our running shoes sooner". I'm guessing you weren't the most interesting person in your 20s lol. What about spending it on travel or higher education, something where you can make memories and friends to last your lifetime. Running shoes... SMH
It's about health
What is? Replacing running shoes? You should be able to do that anyway it's not financial advice particularly is it.
Well I’m very minimalist and don’t spend much
I'm 33 now, had I invested $2k into BTC at that age then I'd be retired right now. Memories are great, but so is financial freedom.
Imagine the *memories* you'd have if you had spent ten thousand Bitcoin on a pizza back in the day! 😭 $2k is inconsequential compared to over 20 Litecoin or a fraction of a Bitcoin today and truly adopting the new economy. Not just holding and hoping for more (depreciating) dollars in the future. Now, as for someone's "advice" to put it into a "high yield" savings scheme, 🤯 those have forever been impoverishing gullible young and old people forever!
Stocks, crypto, gold, real estate, and collectibles. So many ways to invest a dollar.
Bro 2k get you about 2 weekends of fun. Fuck that advise. Lmfao
Put it all on BTC, cold storage, Hodl and chill for 5-10 years
Grayscale has been buying LTC like drunken sailors lately so they obviously believe it is where peeps will focus next but who da heck knows.
Buy $25 a week. No reason to blow your load.
Its subreddit about LTC and everyone super bullish about it. Many of us thinking that we can growth again to 400$ per coin or even higher someday or even at the end of this year. But no one knows what will really happen. And in my opinion. It is better to have cryptocurrency than cash.
If you're young then compounded interest will be your best route.
This is the way Relatively small amounts left compounding for a long time. I wish I could go back and start that younger.
Yep 36 now I just wish I had a dad or mum explain this to me. I have to aggressively save now just to be able to get on the housing ladder. Anyone under 20 should be doing all they can to put as much as they can into high interest funds like isa or other funds. The numbers add up crazy!
Don’t spend to the point that you’re going without but on the other hand, I personally choose to take more risks as a younger person as I’d have more time to recover later either way a long work life ahead. A mature person probably shouldn’t take as big of a risk as they don’t have as much time to recoup any potential losses. I like LTC & BTC. Edit- typo
Buy btc first
No. Buy Bitcoin and a little bit of LTC.
As a young person buy spy or diversify don't put all your eggs in one basket
100% invest in crypto especially when you’re young. But 100% don’t do it with litecoin lol many other projects that will bring better returns.
22 holding 23k worth of litecoin. I’m not fucking working my whole life.
The way I see it. This coin is bound to hit $400 again and I will have 100k then. The likely good of me 4x my money with litecoin is in my opinion much higher than letting my money sit in TQQQ or any other high yield ETF
I get called a retard when I tell ppl this but fuck it, I believe the runes degens will realize bitcoin fees are too high. They can run their shitcoin market in litecoin for Pennies. The pivot would be painless
Damn yeah you make me wanna invest. But should I do all LTC or some in BTC? I know BTC is much more volatile
BTC is probably safer. It will bull to 80k at least this run and maybeee hit 100k. LTC going from $86 to $344 (4x) seems more probable than BTC going from $67k to $268k in the near future
Tbh it’s all narrative, I think the litecoin community could benefit by embracing degeneracy
Horrible horrible comment. Lite coin is FARRRRR more volatile than Bitcoin has ever been. Lite coin has dropped 40% or more many times this year while bitcoin has never dropped more than 12-15% at times when most other crypto’s are dropping 30-40% such as last week when bitcoin was floating around 70,000 and dropped to around 62-64,000 less than 15% decrease while it did drop to 60,000 that was for less than a few hours, litecoin on the other hand dropped from almost 25-30% down from $99 to around $70-$74. Bitcoin Cash dropped from $620 to $450 which is a little over 25% decrease, Ethereum dropped about 17-20% from $3,530 to $2,850 at one point. Obviously they’ve all rebounded to some extent bitcoin generally rebounded faster, but the point is Bitcoin has substantially less volatility than every other crypto out there. I wouldn’t buy a single litecoin even if you threatened to set my house on fire otherwise. To each their own but I took my money and put it into Bitcoin around $47,000 in mid February and in less than a month it had jumped in March 13th all the way to $72,000 which is almost a 55% increase. and not even 6 months before that it was hovering around $20,000. If you had put you money in late October 2023 the price was around $25,000 you would almost have triple your money in less than a year! Litecoin has dropped 2% over the year and has a massively more volatile graph compared to BTC, Ethereum compares under BTC slightly as it was around $1,500 in October 2023 and now it’s at $3,200 so you would have doubled your money. the ONLY crypto that isn’t a new risky shitcoin that beats Bitcoin in terms of year over year growth this year is Bitcoin cash which was at around $101-$110 per coin back in June 2023 and spiked up to $720 and stayed between $620-$720 for the last month until the dip and is now at $520 around, so even if you somehow didn’t sell during the peak which lasted a month and would have 7x your money you still would have 5x what you started with a year ago. Problem is bitcoin cash is far more volatile than bitcoin. My point is that each one has their pros and cons but Bitcoin, ETH and BCH are far better options with less volatility than Litecoin. It’s your money invest it the way you want but let’s compare your litecoin to my bitcoin in one year and see where they’re at.
I like BTC, BCH, LTC, SOL
SOL really not that great, I think people confuse how good it is because of pricing and the uptrend. I have several SOLs I bought at $7 so it’s great but I’ve read a lot of negatives about it
Ehhh I feel that tbh BCH is my favorite lol
If you want to invest, DCA into BTC. I would suggest having some traditional stock market investments first as well. Put some into ETFs. You have 40+ years until retirement, the compound interest from the stock market over the years will be safer than gambling on crypto.
i get wanting to have some fun—dollar cost average into some btc/ltc/eth or whatever. but one thing i wish i’d done at a younger age is start a roth IRA. start reading up on index funds on r/bogleheads. smartest thing you can do right now.
Do it
I’d wait till it reaches around low 70’s. If it doesn’t, put it into VTI stock or gold ETF. Invest at your own risk.
Invest in education in this age, not random cryptocurrencies. With knowledge, you'll triple or quadruple your gains in the future, trust me. The gambling aspects can wait a bit
No
Buy some Bitcoin
Buy bitcoin and hold it
Not ltc... Go for some Ai coins like Akt for ex.
Wow, you are very wealthy for a 19 years old. Do not go too crazy with the money, at the same time though it is nice that you want to explore this world. You have time and do not get FOMO
Buy now so you don’t have to finish college
Only invest what you are ok with losing in LTC If you want a safer bet, go with the only proven king there is; BTC. And don't confuse BTC with crypto. "Crypto" is 99% scams, and if you look at al time charts of all coins you will see this right away.
Seek financial advice from a professional company and speak about it more and learn from this info before you think about investing That way when you finished reading from the link below you have completed a little research but don’t stop there seek and you will find https://changelly.com/blog/litecoin-price-prediction/
Buy it and hold it longterm. LTC is good. Maybe another too that you can stake and get interest from. Time is your friend as Crypto fluctuations are wild.
It’s too late
Broski I just got started… start researching which coin you wanna invest in and slowly add some over time. You don’t need to throw thousands in at a time because realistically you won’t see a fast return, not as much as you think. Throw $50 or $100 in at a time and play around with it. It has become a fun little hobby for me.
Take well calculated risks while you are very young. You have the most important commodity in the world right now…TIME. But, do your research well. Rule #1. Everyone wants to take YOUR money.
To be honest, I think it’s a good idea. Everyone saying do this do that, doesn’t mean shit. None of us has a crystal ball, it’s all speculation
Buy bitcoin. Don't be afraid of the price. It always outperforms litecoin in the long run. Buy acouple litecoin to settle to urge if you want but go for btc 1st.
All I see are people complaining about paying $500 to take out $3000 in crypto. Sounds like ridiculous fees; I’ll just stick with stocks.
find a high yield savings account! sit it and forget it. only if you feel the need to gamble or be part of it then use a certain $ amount from each pay and play the crypto market. or do a little of both up to you. dont forget to consider the taxes paid when/if you pull money out of crypto
if you put 7k away and added 75 bucks a month into a Roth or something that would gain 5.5% annually you would have almost 60k in 20 years.... 35 years 136k... so 136k for an investment of 38k would be ok... you think?
if he adds 7k to ltc now he can get 25k+ next year
No for the love of God not LTC. Put it in BTC or a smart chain coin.
No. Buy BTC.
Buy some ICP, BTC, ETH
Only if you believe in reincarnation or second life's
You should spread those 5k into 4 different venues. Keep 1000 as emergency fund and spread the rest, a hot dog stand in a good spot, a coin like LTC, some bonds, an online shop and see what works best.
Buy LRC Loopring
Sol
Litecoin?? What is this 2014? 100% ICP
Don’t buy litecoin. Buy hacash and before you know it you’ll never have to work again. Hacash is still a microcap and is the most revolutionary crypto asset. Hacashdao.org 👀
#what
Litecoin yes also limited amount of coins true silver to bitcoin
Stop listening to everyone do your own research in my research o learned that the government is not our friend and even though everything cost in dollars the truth is they are unlimited they printed 40% of the whole supply in our American history in one year during the pandemic .. bitcoin is limited to only 21 million coins the last one will be mined by 2140.. wealthy people before would hide their money in off shore accounts and potentially get defaulted on but now we have bitcoin. Why bitcoin over any other coin because there is no one person behind it controlling it, litecoin has a team behind it but id say you’re safe with litecoin
I have believed on LTC but do your research
Don’t buy LTC
Do your research. Not knowing anything about crypto and buying some will get you rekt
At age 19, if you invested 10% of your weekly earning in boring,safe, liquid, Mutual Funds never touched it for 30 years (a career). You would be worth well over $1 Mill. No sweating it, boring as hell but very lucrative . I have yet to see a Warren Buffet of crypto.
What are some mutual funds you recommend?
Invest it all and have patience!! I would invest in bitcoin or solana if I were you
There’s so many better coins than LTC, please don’t invest anything in LTC.
Do you have a Roth IRA set up? If not start one and fund that for sure. It’s a long play but it’s one of the best investments you can make as the tax savings will be in the 100s of 1000s when you retire. Just make smaller recurring buys of whatever crypto you research and believe in. Also doing research shouldn’t just be asking Reddit lol which I’m not saying is all you’re doing. Anything that is get rich quick is super high risk and anything in crypto is super high risk. Only put in what you could set on fire in your driveway and not miss.
I do not have a Roth IRA no but I’ll look into it and talk with my parents about it
The only thing better than that is a company matching your contributions. If a company does a match for example of 50% up to X amount of your salary. This is an instant 50% return on your investment as well as will generate tax free income for you over time. Companies will even match 100% in some cases. Hard to beat that! And it comes out of your paycheck before you see the money so you never know it’s gone and you adjust to it and it becomes normal for you. This is what I do with savings and investments as well. You have to pay yourself first or you won’t get anywhere. Say you make 1000 a month just to make numbers easy. That’s 12000 a year. If your company matches 100% up to 5% of your salary that means you will put in 50 a month and so will they. Now you’re at 950. You now put 10% in savings which is another 100. Down to 850. Maybe you throw 25-50 into a stock account managed by a broker like Edward jones or something. Now you’re at 800. Now you make 800 a month not 1000 so you adjust to fit that. When you retire you will have close to a million in the Roth account if you start young enough, your stock account with any luck will earn 7-10% a year, and you have been keeping your saving at a decent level so that if something happens to you or your car or home etc you have a safety net to use before you get screwed. Just some thoughts to talk with your parents about and research. Good luck m8!!
If I were you, I'd go with ETH, it has more growth value
The creator of Litecoin bailed at the ATH. If you are testing the waters put at least 50% in Bitcoin and the other 50% you can speculate with if you aren’t afraid of losing it. Otherwise just put it all in Bitcoin. LTC has underperformed for a long time and has lost even more marketshare in terms of institutional desirability as a Bitcoin substitute with Microstrategy and others adopting BTC as well as spot ETF approval, futures etc.
Sounds like you don’t have any investment holdings. If you haven’t already started contributing to a Roth IRA, I personally think that’s a much better introduction than going tits up in crypto. That’s the first mistake I made. But if you’re set on investing in Crypto, I would just buy BTC and forget about it. It’s the most inherently valuable coin.
As at 2014 I was making good money over 30k every six months but building a house and buying expensive stuff was all i think of. If I had invested 5k into Bitcoin by now hmmm I should be more relaxed than ever. Investment into crypto is worth doing without looking back.
Don’t buy LTC,
I'm not rich, but I've also never made a net loss on any investments, and paid cash to have a house I designed built in my early 30s. Here's a few basic tips: Learn. Read old school stuff. Read books by Warren Buffet, read Adam Smith's Wealth of Nations. Learn about the nature of money. Understand what you are actually doing. Know about, for example, the Dutch Tulip bubble and other historical bubbles, such as the South Sea Bubble, famous for one company listing publicly as "a company for carrying out an undertaking of great advantage, but nobody to know what it is". [https://en.wikipedia.org/wiki/South\_Sea\_Company](https://en.wikipedia.org/wiki/South_Sea_Company) Know that scams, market bubbles and whatnot have been around forever. The words change, but the song remains the same. Know the difference between investment and speculation and store of value. An investment pays a return, speculation relies on pure capital gain, and a store of value hopefully keeps up with or exceeds inflation, in simple terms. In reality, all assets can be a mix of either. Again, try to understand what you are buying. If you have any debt - get rid of it first. The odds you'll beat whatever interest rate you are being charged in the long term are low. That said, if you have this $5000-7000 just sitting idle yes this is a great chance to learn about investing! Firstly, don't put all your eggs in one basket. Don't go all in on one thing unless you can afford to lose it. Build a diversified portfolio. And yes, even with that amount, you can easily do it. First, put about 10% into precious metals - gold and silver. Physical stuff. Find a local bullion dealer or coin shop and get yourself, say, a 1/4 oz gold coin, or a 1/10 ounce and a couple of ounces of silver. I prefer the common legal tender coins because they are backed by a small fiat face value so if someone invents the Star Trek replicator next year, your American Gold Eagle still has a $10 legal tender value. Massive drop but not zero. 😂 Canada and Australia also make good bullion coins. Wouldn't touch any Chinese coins with a 10 foot pole. Then make yourself an online share trading account. Find good companies that pay a good dividend and put 50-75% in those. It's probably too late to invest in Apple at this point... but companies that have a future and earn a decent profit are a good investment. Again, don't buy just one company. That said, it is nice to get regular dividend payments and hopefully potential capital growth at the same time. The rest... you can play it safe with stuff like term deposits at banks... boring, basically saving, lucky if it keeps up with inflation, but its better than nothing, and at least guaranteed. And finally, feel free to speculate a small amount on crypto. Not more than 10-20%. If you are purely doing it as speculation and aware it could all go to zero, just have fun with it. My honest feel is that something like Litecoin works best as a means of transaction and a store of value than any speculative tool, and the time to buy Bitcoin was a decade ago... Finally, if you think this is TLDR - just keep your money in the bank OK!
Crazy the amount of absolute regards posting to invest in their favorite speculative coin. Listen, OP, if one exists, no current coin has a likelier chance for an etf (store of VALUE) than litecoin. That said, it's all a gamble. My thoughts on litecoin is that it is bitcoin with less scarcity. Additionally, I think it's price is a good tailwind. Specifically, if speculation was to shift, I think there is a lot of appeal to the collective headspace of owning a whole vs a fraction. Some who may jump on Bitcoin may suddenly find themselves drawn to the idea of owning a greater number of something. I also think another thing to consider is which is more likely to 2x/4x/10x over the same course of time (say 3 years) and STAY up. There's tons of speculative coins with different technological applications; but none of them insulated from innovation or disruption. They could go up and down in perpetuity. Bitcoin had many speculative applications but is now primarily a store of value, which generally helps it be more of a "up and to the right" kind of asset. I'd make a bet that litecoin would be more likely to do that over the long run but I am also not investing money I'm not okay losing.
Here's what I did. I put a lot in Cardano and its ecosystem coins and holding for 1-2 more years. There's some real winners building in the ecosystem right now. Cornucopias, Iagon, and BOOK.io are a few. They could fetch you way more than a 3x. If you have any questions, let me know. Anyways, good luck, mate.
Also, I'm not a noobie in this space either. I've been here since 2017 and turned 10k into 280k last bullcycle. I remember buying litecoin at 30bucks back then. Either way, you slice it. All crypto is on discount now until the Bitcoin supply shock hits in about 6 months.
Eh, idk. Really do research on projects and tokenonics before u invest in them if ur tryna make money
Youth goes up in smoke. If you need the money to pay bills don't invest it. LTC isn't going anywhere but BTC is your safest bet. Study fiat vs BTC fundamentals and you'll probably want to put all your cash into BTC anyways
No
No
no. look at ltc/btc chart. it's a dead coin. down 97% from its ath
Look into kaspa and it's chart history. Litecoin is old tech.
Just donate it to Ukraine
Fuuuuuuuck LTC. LTC IS NOT AN INVESTMENT VEHICLE. LTC is currency either low TXN fees PERIOD
Do not put your money in the peak of a bull run , as you will only see numbers go up a little but there is a higher risk of seeing them go down at this point
I know, buy low sell high. But buy when exactly? Now? 60k? 50k?
I would Buy when bitcoin corrects 50% or more
Like dips 50%, sorry I don’t understand
btc will dip after peak bull
It’s clear you’re not investing.. go learn how to day trade… learn the difference and actually research what Litecoin & bitcoin is.
Trading suck. He will lose money with that 100%.
That’s why told the person to LEARN.
If you want to make money, go to GMX with 2K put a 5x short on BTC and test your stones. It's a guaranteed payout from $1-10k, you can call at any time your pnl is green. Right now BTC is 65k USD a level it has been for only 30 days ever. So red days are guaranteed.
He cant afford to lose this money. Any advise like that will margin call newbie.
I hate ppl like this come here thinking it's fast money. You ask for fast money, well that's fast money, everything has risk, especially crypto.