RE: Reaching out to the steemit community with my questions about crypto - Help a brother out

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Reaching out to the steemit community with my questions about crypto - Help a brother out

in cryptocurrency •  7 years ago 

Hey Kent, I'll take a shot at your questions:

"What is a good portfolio look like, how big a percentage should be altcoins etc?"

  • A "good" portfolio is a diversified portfolio. You've got a nice mix of low-risk coins right now. That's a start. Begin reading into the other top coins now, too. If you want to be in this long term don't rush to invest in things you don't understand. People who are doing that right now are going to be the ones that lose money more than the people that are informed. To answer your question, though: I have a 30/70 mix of low risk (like BTC/ETH) to higher risk altcoins (XRB, REQ, BNB, some others). If you have an appetite for risk I'd say go for something like that.

"What coins should you definitely stay away from?"

  • BitConnect comes to mind first. It's basically known as a ponzi scheme, and many investors also admit so. Stay away. Other ones I stay away from are XRP (the coin has questionable value in future use), and TRON (recent news about plagiarism). But seriously, stay away from any you haven't read into yourself. It's not a fun answer, but that's the only way you won't get burned.

"What is the coin to buy atm, in your view?"

  • Look out for C20 coming up on HitBTC next week. It's a tokenized index fund. I've been looking forward to this one hitting the exchanges for a couple of weeks. Read more here: https://crypto20.com

"What is your opinion on ethereum specifically?"

  • Many of the top coins (or, more accurately: "tokens") run on ethereum. It's an amazing platform once you realize the massive potential is has. Ethereum has a major advantage as being the platform for the launch of many ICO's, and as more and more developers publish their works on the Ethereum blockchain, it will continue to rise in value. I'm honestly considering putting most of my portfolio in Eth slowly.

"Where can I find out more about cryptocurrency, blockchain, and upcoming projects concerning blockchain?"

"Is cryptocurrency really the way to go, or are there other, better ways to invest in blockchain?"

  • In my opinion, the best way to invest in cryptocurrency right now, and blockchain technology as a whole, is to invest some money into coins to hold long term. It's early days, the market is crazy volatile, and nobody knows what's going to happen. Just keep as informed as possible, be an information sponge, learn about how blockchain tech could change the world, and why certain currencies will hold value in the future.

Hope this helps!

-J

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Agree, Reddit is great.