04-15-2020, 02:24 AM
Have I made a mistake?
<!-- SC_OFF --><div class="md"><p>For years I've been keeping an eye on the crypto market, but more specifically BTC. Owning crypto has been a goal for most of that time, but I found it an intimidating subject, and one I didn't have the balls to put my money where my mouth is.</p> <p>Fast forward to a few days ago, I said f*ck it, interest rates are down, the housing market is buggered, let's just do it. In my defense, I think the way I did this is the only way I was going to get into crypto (like a plaster, just rip it off), but I know I could have done it a lot better. I'm pretty indecisive, so I know I would have talked myself out of it if I thought about it too hard.</p> <p>I'm now wondering if I should adjust my "plan".</p> <p>I invested (including Coinbase fees) £10,000. For that I bought:</p> <p>1 BTC, 10 ETH, 30 LTC, 2 BCH, 2,000 XRP, 150 EOS, 100 LINK, 300 DAI, 150 XTC, 5,884 XLM.</p> <p>If helpful, I don't intend on trading a huge amount as I don't have the capacity to throw the necessary time at doing that successfully. I'd like to hold what I have, and I see it as an alternative investment.</p> <p>My thought process behind what I bought is that BTC, ETH and a couple of the others appeared to be safer long-term investments, whereas the lower half of the list was, "if any of these do well over the next few months or years then I could do well out of it".</p> <p>Should I just sell off the lesser known alts and concentrate on BTC/ETH etc. or is hedging my bets like this not a bad idea considering I'm in it for the long haul?</p> <p>Thanks for any advice.</p> <p>Ps. I'm using Coinbase which appears to have mixed reviews, so any thoughts there would be appreciated too.</p> <p>Edit: to everyone who's commented, thank you so much for your advice and guidance, you've all been so helpful and informative. There's lots for me to take away, and I'm grateful to you all. I'm definitely going to follow this sub more closely as it seems like a great community.</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>For years I've been keeping an eye on the crypto market, but more specifically BTC. Owning crypto has been a goal for most of that time, but I found it an intimidating subject, and one I didn't have the balls to put my money where my mouth is.</p> <p>Fast forward to a few days ago, I said f*ck it, interest rates are down, the housing market is buggered, let's just do it. In my defense, I think the way I did this is the only way I was going to get into crypto (like a plaster, just rip it off), but I know I could have done it a lot better. I'm pretty indecisive, so I know I would have talked myself out of it if I thought about it too hard.</p> <p>I'm now wondering if I should adjust my "plan".</p> <p>I invested (including Coinbase fees) £10,000. For that I bought:</p> <p>1 BTC, 10 ETH, 30 LTC, 2 BCH, 2,000 XRP, 150 EOS, 100 LINK, 300 DAI, 150 XTC, 5,884 XLM.</p> <p>If helpful, I don't intend on trading a huge amount as I don't have the capacity to throw the necessary time at doing that successfully. I'd like to hold what I have, and I see it as an alternative investment.</p> <p>My thought process behind what I bought is that BTC, ETH and a couple of the others appeared to be safer long-term investments, whereas the lower half of the list was, "if any of these do well over the next few months or years then I could do well out of it".</p> <p>Should I just sell off the lesser known alts and concentrate on BTC/ETH etc. or is hedging my bets like this not a bad idea considering I'm in it for the long haul?</p> <p>Thanks for any advice.</p> <p>Ps. I'm using Coinbase which appears to have mixed reviews, so any thoughts there would be appreciated too.</p> <p>Edit: to everyone who's commented, thank you so much for your advice and guidance, you've all been so helpful and informative. There's lots for me to take away, and I'm grateful to you all. I'm definitely going to follow this sub more closely as it seems like a great community.</p> </div><!-- SC_ON --> Kind Regards R