Crypto strategy for newbie

El_Selb

After listening to Raoul Pal interview with Steven Bartlett (DOAC) I'm looking to start investing in Crypto.

I know I need to work out how to buy & hold it, but once I've done that and if I have £5k to put into it, does 1.25k across the below sound reasonable?

Bitcoin 

Solana

Ethereum

Sui

Looking at the price charts I am a bit wary of starting off now. But then of course they could keep on going up...

tacpot12

Do you have any investments in anything else? Is this money you can afford to lose? 

jaypers

If you’re interested in investing, you do know that from a risk perspective that Crypto is about as high risk as it gets? 

MEM62

El_Selb said:

After listening to Raoul Pal interview with Steven Bartlett (DOAC) I'm looking to start investing gambling in Crypto.

I have corrected that for you.  Putting you money into something with a value that is not supported by anything more tangible than popular belief in it and with a value that can that can go up and down dramatically based on one tweet from Mr. Musk is not investing.  

Fine if you are speculating with a very small amount of your wealth.  Extremely unwise otherwise.    

Section62

El_Selb said:

After listening to Raoul Pal interview with Steven Bartlett (DOAC) I'm looking to start investing in Crypto.

...

What would you have done with the £5k if you'd never seen that interview?

Scottex99

Bankroll management - is £5k a lot to you?

You say buy and hold, which is fine, on what time frame? What's your expectation on returns?

Naturally the day that you do it, all of those coins will crash 20%, are you ok with that?


With that out of the way,

I've got all of them, and they would be a decent "starter pack" for a portfolio. I'd probably do 1.5k in each of the big 3 and 500 in Sui. It's a smaller project, likely more volatile and therefore more risk. But the whole play is risky which is why people are all commenting in similar fashion.

Cheers

Zoe02

Not a wise decision.

Understand what you are getting involved in.

Only put what you do not mind losing into such. 

wiseonesomeofthetime

I was hearing great stuff about XRP yesterday and today.

Never heard of it when I gambled in crypto (and lost) way back in 2017, (or even on Wednesday).

As it turns out, had I not ditched my crypto holdings - bitcoin & ETH - (at a major loss) in 2018 (as the values had tanked), my modest stakes could have been worth the price of a new laptop now, possibly. I will never know, and have zero plans of re-entering that market.

jefaz07

I have Ripple and Solana. 

I’m in on ripple at 32p and solana at £8

Scottex99

BTC, ETH and SOL are my major bags.

ETH starting to get a bit boomerish so I might rotate out.

XRP is a funny one. I know some of the guys from Ripple Labs. Crazy rich and endless runway. As an investment I don't like it, they have an escrow wallet that they dump out of. Plus every single noob from all cycles since 2017 seems to hold it, meaning it can't be good right?

I didn't hold any for years but bought some recently as mental health hedge if it does pump. Still isn't close to it's 2017 ATH but is up about 250% in recent weeks.

"A rising tide lifts all boats"

jefaz07

I had ETH, XRP and ADA…I’ve since all put it into to XRP which is paying off currently. 

I have most money in BTC and SOL and I’m just waiting for a figure I’m happy with. 

I’m in on BTC at 22k at the lowest and have bought bits and pieces over the years. 

A few friends have made quite a lot off DOGE but I want nothing to do with it. 

Like you say, rising tides. 

I’m currently up around 9k but I believe there is plenty more to make this run.