I have 500 USDT. What should I put my money in altcoin/token wise?

[ACoinedTerm]

Hi there forum. My dad and I decided to see if we could take advantage of the current market dips. We are aiming for a passive investment and possibly passive income type token.  I understand basic cryptocurrency theory and also bits and bobs on how Defi works.

Does anyone have any suggestions on what to do with 500 USDT at this time in the market? I know this a vague question and I may be waffling, but I might as well start communicating with others on the forum and get some insights. I was thinking of putting all of my money into a DeFi token but im not so sure.

In summary, I guess what I'm trying to ask is:

What altcoins / tokens are you all watching closely right now? And if you had 500USDT, where would you put that to use?

[cheezcarls]

Are you looking for short-term? Mid-term? Or long-term? In my case regarding the current market dips, I am accumulating Bitcoin every month using the old-school traditional dollar-cost averaging (DCA) every month without paying attention or caring much about the current price of BTC. Why am I doing this?

Because I know that one day Bitcoin will rise again despite the uncertainties in the market these days. If we’ve experienced the great Bitcoin crash of 2018 before and also making its all-time high of around $68k in 2021, I truly believe BTC will be reaching new highs again in the future. So for me, it’s best to accumulate BTC as it was the most popular and widely adopted worldwide. And not only that, financial institutions, traditional companies and governments have already acknowledged and recognized Bitcoin.

[ACoinedTerm]

Hi there cheezcarls, thanks for your reply.

Me and my dad are looking to mid-term hold some alt-coins/tokens. As for BTC, me and my dad believe in the coin rising near the 70k again in the near future so we will buy some BTC to hold long-term. Only problem is is that we don't whether to put in our bid now at its support which is around 30-27k or if we wait for it to go a bit lower. It's interesting that you mentioned Dollar Cost Averaging; I will have to look into that more too as the term is new to my ears.

So in summary, yes we are planning to finalise the majority of our investment into BTC in a few days time. But we just don't want to put all of our eggs in one basket, so we are looking at other coins in the meantime and possibly look into the DeFi realm with a bit of cash.

[Jaephoenix]

I could tell you to buy some BNB or TRX, or even Stellar Lumens, but those are long term investments and you probably won't start profiting in this year due to the aforementioned bear times. You can do stable coins farming on beefy or autofarm

[mahadev]

I could tell you to buy some BNB or TRX, or even Stellar Lumens, but those are long term investments and you probably won't start profiting in this year due to the aforementioned bear times. You can do stable coins farming on beefy or autofarm

BNB and TRX are very potential coins for long term investment.
I think those will have great future and more expensive at the coming years, 2023 or 2024, maybe at 2025.
Buy more and starting to hold them.

[Doctor]

Hi there forum. My dad and I decided to see if we could take advantage of the current market dips. We are aiming for a passive investment and possibly passive income type token.  I understand basic cryptocurrency theory and also bits and bobs on how Defi works.

Does anyone have any suggestions on what to do with 500 USDT at this time in the market? I know this a vague question and I may be waffling, but I might as well start communicating with others on the forum and get some insights. I was thinking of putting all of my money into a DeFi token but im not so sure.

In summary, I guess what I'm trying to ask is:

What altcoins / tokens are you all watching closely right now? And if you had 500USDT, where would you put that to use?

If you had 500 USD, I think you can buy BNB or ETH now.
Current market is going down and I think It's bottom.
Buy more and hold altcoins, You will get profit at the coming months.

[ACoinedTerm]

I could tell you to buy some BNB or TRX, or even Stellar Lumens, but those are long term investments and you probably won't start profiting in this year due to the aforementioned bear times. You can do stable coins farming on beefy or autofarm

I have been curious about Stellar Lumens for a few reasons. I heard it has fast transaction times. I also heard that it's the best coin to invest in once the US implement regulations on the crypto market. I don't understand why its market price is so low right now. I need to do more research on the coin because I do indeed believe that it will rise up in worth someday.

[reza7777]

defi tokens may not be a trend anymore so I suggest you to buy certain tokens like bnb or some other top 10, I'm here talking about the long term

[gurunanakji777]

In the current blood bath of the crypto market, I would suggest you only 3 coins at the moment that will survive the bear market and have the potential for long-term those are Bitcoin, Ethereum, and BNB even though these are the top coins that are tested and trusted. You can diversify 250$ each in 2 coins if you find it good but do your due diligence before making any decision.

[collinsjie]

You have great advantage having this kind of money to invest at this time when crypto market is totally down . Just look for a good coin or token to invest in. You ick one or two coins or ten from the coinmarketcap from number one to twenty and invest in in them.

[2moons]

Interesting ideas, thanks, I think SOLANA is also good coin

[yohananaomi]

Interesting ideas, thanks, I think SOLANA is also good coin

right, that for coins that are at the top of the CMC rankings, it is clearly highly recommended to be used as an investment. but right now all is in the red due to bitcoin's protracted correction, so choose the best because now is an opportunity to buy and hold it.
BNB, LINK, DOT, are coins that are currently down not above -30% and are very promising to be used as investments.

[Dora Walletinvestor]

I agree with many options offered by the posters above - ETH is one of the best choices, and I BNB and SOL are also looking good.
Just make sure to diversify.

[therozaq]

Hi there forum. My dad and I decided to see if we could take advantage of the current market dips. We are aiming for a passive investment and possibly passive income type token.  I understand basic cryptocurrency theory and also bits and bobs on how Defi works.

Does anyone have any suggestions on what to do with 500 USDT at this time in the market? I know this a vague question and I may be waffling, but I might as well start communicating with others on the forum and get some insights. I was thinking of putting all of my money into a DeFi token but im not so sure.

In summary, I guess what I'm trying to ask is:

What altcoins / tokens are you all watching closely right now? And if you had 500USDT, where would you put that to use?

If you have 500 USD, I think you should buy several potential top coins such as ETH, BNB and Cardano.
I think It's good way to do.
Because the crypto price is low now.
Buy more and become holder

[MrSpasybo]

I think you should spend more time investing in knowledge and understanding of this market. In my opinion, BTC will be the first bullish crypto in the bullrun, BTC is also the safest crypto in the market, you should be interested in BTC instead of ALT at this time. ALT is also attractive but I only trust ETH.