Bitcoin VS Altcoin - $1000 dollar max for investment.. 🤔

[Fivestar4everMVP]

Hi guys and ladies of our Altcoins talk community, I greet yeah all...
I am coming with an observation and also a question, and this is for a very good friend mine (he possibly will join this community soon) but before I introduce this forum to him, I want us to discuss this here, your opinions, ideas, and possible suggestions may help in the current situation..

The observation...
Bitcoin at its current price of $65,000+(as at the time of writing this post) has actually become very expensive and unaffordable to most people around the world, most especially the low salary earners, and for someone who wishes or wants to make like a minimum of a hundred thousand dollars in profit; investing in bitcoin with minimal amount of money at $1000 max, it is like it's no longer possible; as Bitcoin will have to do alot of Xs, for a thousand dollar worth of bitcoin right now to worth a hundred thousand dollars or more in the future - I am not a mathematician, so I am not going to bore you with calculations I myself may not understand, but just incase we have someone here who is very good at math, then I would be happy to know at what price would a thousand dollar worth of bitcoin right now ($65,000) be worth a minimum of one hundred thousand dollars?.

The question...
I have this friend who is a salary earner, he works really hard and very diligent, and I personally like him and want the best for him for that reason alone, he complains almost all the time about his job and the level of stress involved, he wished he got a job in another company with better pay and less stress, but that is not forth coming, and I am sincerely hungry in my spirit to help him, but there is no other way to help him aside bringing him into crypto currency investment, for; crypto investment actually is what brought me also out of monthly salary dependency I once was in before.

I've talked to him on several occasions to start investing in crypto, most especially bitcoin, but he's always been very skeptical, and to convince him, I lied to him (though not lie but kind of), I told him that with a minimum of $1000 investment in crypto, he would forever retire from salary jobs and move into Starting and managing his own business, for in a space of 5 to 7 years, he would make nothing less than a hundred thousand dollars which will make him a multi-millionaire in our local currency - I myself is very comfortable, so he had no reason to doubt me.

Long story short, this dude finally managed to save up a thousand dollars, in fact, he said he borrowed about a hundred dollar to complete the money, and just today, he brought the money and asked me to invest it in crypto for him, and this really put me in a cross road right now, I am totally confused as to which crypto to invest the money for him, I initially was going to invest it in bitcoin, but I made him a promise that within 5 to 7 years, his $1000 would have turned to a minimum of a hundred thousand dollars, and thinking about this and not wanting to disappoint him, I am beginning to have double minds, as to whether to really invest that money in bitcoin or looks for some really good and promising Altcoins and invest the money there, I have some really good and undervalued altcoins I invested in myself, but since this is not my money, I have and want to be extremely careful where I put the money.
- Investing the money in bitcoin, the risk is very low, but there is a high chance I may not be able to fufil the promise I made to him, which he may find disappointing and lose trust in me.
- but investing the money in Altcoins, this is risky (and risk level varies between different Altcoins), but there a high possibility that I will be able to keep to the promise I made to him, if the Altcoin market does really well in the coming months, meme coins are perfect 👌 for this, but highly risky..

What do you guys think? And what are your valuable suggestions?

[Z-tight]

There are a lot of flaws in this:
1. Giving him investment advice.
2. Telling him about unrealistic returns.
3 promising him that he can get a better life with crypto, he is surely seeing crypto as a get rich quick thing right now.
4. He borrowed money to make up $1k, and you didn't reprimand him not to ever borrow money to invest in crypto.
I recommend that you return the money back to your friend, if he wants to invest in crypto he should learn what crypto is all about before putting money into it.

[0t3p0t]

$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.

[Fivestar4everMVP]

There are a lot of flaws in this:
1. Giving him investment advice.
2. Telling him about unrealistic returns.
3 promising him that he can get a better life with crypto, he is surely seeing crypto as a get rich quick thing right now.
4. He borrowed money to make up $1k, and you didn't reprimand him not to ever borrow money to invest in crypto.

I will have agree with you on your number 1 and number 3 point.
But will totally disagree with you on your number 2 and number 4 point.
To your number 2 point, a hundred thousand dollar from a $1000 investment is not unrealistic in crypto, I've seen some persons make much more than that investing in meme coins, and some other really good Altcoins, all it took was finding and investing in such coins at their really early and nothing stage.

To your number 4 point, money he borrowed is less than a $100, that is not much and I am sure he can easily pay this off without bothering about how his crypto investment is doing.
And for your information, borrowing to invest  in crypto is not bad, as long as you a means of paying back the loan without depending of the investment, what is wrong is borrowing to invest when you have no primary or secondary means of paying back without getting the money back from the investment.

I recommend that you return the money back to your friend, if he wants to invest in crypto he should learn what crypto is all about before putting money into it.

Well, he's a special person and I just wanna do for him what I can't do for any other, hes actually not the first person I am bringing into crypto, but I am giving him some special kind of privilege, me investing this money for him does not mean he will not learn crypto the proper way, he's learning and doing really well at it.

[yhiaali3]

An almost similar story happened to me, but I did not lie to my friend and told him the truth and told him that investing in Bitcoin and cryptocurrencies may be profitable and may lead to losing all your money, and I left him to bear the responsibility for the investment decision himself.

Regarding your situation now, the best thing to do is to buy half the amount of Bitcoin and with the remaining half an altcoin that is eligible for launching, and if you get profits from this altcoin, you buy another amount of Bitcoin to ensure that your friend’s money is safe.

But you should do your own research carefully before purchasing Altcoin

[Primo1760]

It's best to invest what you can afford to lose, but I'd always recommend investing in Bitcoin for a $1,000 investment, whether it's your friend's or yours. There is no other investment above Bitcoin investment. I always consider Bitcoin investment as the way to get the highest profit because seasonality has shown that if Bitcoin has constantly increased by 4 to 10 percent, unique coins have not increased much. So if someone invested 1000 dollars in bitcoin they got a lot more return than that 1000 dollars today although some talks also came up but many people think altcoin investment is too risky in that case i don't recommend to invest in altcoin i just recommend to invest in bitcoin  So that an investor can get more returns with less risk.

[BitMaxz]

$1000 is a big amount it is a good start but the problem like you said it's very hard to choose which coin/token or Bitcoin should you invest that's a pretty hard question.
For me, I suggest diversifying your investment is the best option, don't just focus on Bitcoin take note of other altcoins and tokens they are volatile but if you are smart knows about how to do scalping or swing trading using MA then you can grow your account and make a profit for every price movement of altcoin/tokens compared to Bitcoin.

Learning basic trading is the best thing that I could recommend because this is what I am doing right now. And only choose coins/tokens with high volume and make sure to always set a stop-loss.

[Z-tight]

To your number 2 point, a hundred thousand dollar from a $1000 investment is not unrealistic in crypto, I've seen some persons make much more than that investing in meme coins, and some other really good Altcoins, all it took was finding and investing in such coins at their really early and nothing stage.

I have seen more persons lose that amount and much more in crypto, especially when they invest in altcoins. You talk about meme coins and 'really good altcoins', how do you pick what is a good altcoin, the chances of making the returns you told him is so slim and that makes it kind of unrealistic.

And for your information, borrowing to invest  in crypto is not bad, as long as you a means of paying back the loan without depending of the investment, what is wrong is borrowing to invest when you have no primary or secondary means of paying back without getting the money back from the investment.

Each to their own on this. I would never recommend borrowing to invest in crypto, just because of how volatile it is, but who am i to tell people what to do.

Well, he's a special person and I just wanna do for him what I can't do for any other,

What you wanna do can ruin friendships if it does not go in the way you told him it will. Goodluck anyway!

[Jating]

The thing with Altcoins is that they are more volatile as compare to Bitcoin. However, with that, they can also gave more than what Bitcoin can achieved in this bull run. So risk and reward here, which altcoin to invest that will give you more? And with that, I would just look at the solid altcoins in the top 10, not meme coins. Meme coin could be a hit or miss as we all know that they are going to be used as p&d. But there could be solid altcoins that are still way below their previous all time high and so still good to invest in my opinion. And if you get a chance to choose what it is and then after halving this year it went on a good parabolic rise, then the reward is worth it. Or then if you can get back here want altcoins you choose then we can monitor it all together. Best of luck to you.

[hugeblack]

from $1000 to $100,000 This is approximately 100 times the amount, and regardless of the type of investment in cryptocurrency, you will not achieve such a profit in 10 years just for the sake of investing. You need to trade and be an expert in trading.
Start with realistic things, which is that the price of Bitcoin in a year and a half from now may reach more than $120,000, and therefore $1,000 can easily rise to $2,000. He can then sell it to USDT and buy Bitcoin again when the price is $60,000 and wait about 4 years, then it will be $7,000 at best, meaning 7 times the price over 5 years.

If he wants to trade, he must learn how to do it, as you cannot trade for him. the best advice is to learn more about investing and buy 80% Bitcoin, 10% Ethereum, and risk 10% in any Layer2 tokens.

[Wiseman]

There are a lot of flaws in this:
1. Giving him investment advice.
2. Telling him about unrealistic returns.
3 promising him that he can get a better life with crypto, he is surely seeing crypto as a get rich quick thing right now.
4. He borrowed money to make up $1k, and you didn't reprimand him not to ever borrow money to invest in crypto.
I recommend that you return the money back to your friend, if he wants to invest in crypto he should learn what crypto is all about before putting money into it.

Bro, you noticed everything correctly, but it’s simply impossible to convince people, they see the chart and think that they can do just that (buy at the bottom and sell + 10,000%) this happens, but mostly not with beginners, personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing, but you need to learn trading the right way and not by watching a couple of videos on YouTube))

[Z-tight]

personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing,

I disagree, what i pointed out to the op has nothing to do with the amount of money in question, but the unrealistic returns and other flaws too. Surely you can start buying coins with $1k and below, you can even use dca method to accumulate BTC at your own speed, you must not have $100k. Take note too that trading is risky and i don't recommend it to newbies, so they don't lose all their money before they even get started.

[Crypto Library]

Actually, instead of investing the entire amount at once, I think that the fund should be divided into several parts, find a good dip and invest. Moreover, I will divide the investment into two, 80% will be for holding Bitcoin and 20% will be kept for holding altcoins(Like on polygon matic).
Moreover, I will continue to invest some amount of my income in bitcoin on a regular weekly or monthly basis by following the DCA method. Moreover, currently I think it is not time to invest the total amount fund at once because Bitcoin was at perfect dip around 30k a few days ago. But Bitcoin investment will not go in vain because he can still invest if he wants.

[ScamViruS]

personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing,

I disagree, what i pointed out to the op has nothing to do with the amount of money in question, but the unrealistic returns and other flaws too. Surely you can start buying coins with $1k and below, you can even use dca method to accumulate BTC at your own speed, you must not have $100k. Take note too that trading is risky and i don't recommend it to newbies, so they don't lose all their money before they even get started.

Right. Buying coins with even $1000 can think of it as an investment and buy again when money comes in to buy more. Every investor has their own strategy according to their ability, there is no need to have a $100k fund. And yes DCA method is definitely effective for a small investor, as he can build a portfolio according to his ability, which can give him a big return over a period of time. So even if the size of the fund is small, a good strategy can bring good returns to an investor.

[Wiseman]

personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing,

I disagree, what i pointed out to the op has nothing to do with the amount of money in question, but the unrealistic returns and other flaws too. Surely you can start buying coins with $1k and below, you can even use dca method to accumulate BTC at your own speed, you must not have $100k. Take note too that trading is risky and i don't recommend it to newbies, so they don't lose all their money before they even get started.

Yes, trading for beginners is very risky, but it is necessary to understand that trading is not a fun and it is a profession that must be learned, here I certainly did not finish this point and I can not but agree with you and talking about profit, how much you will earn investing 1000 dollars? In trading you can trade with shoulders ( yes it is a risk ) but we do not forget that trading is not a toy and first we learn and then we trade.