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

[bitterguy28]

$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.

like what we use to have long now and that is what we called diversification kabayan , i have done that and still doing this because  i know that Single investing in bitcoin is not that profitable for me nowadays , because like what we have seen altcoins sometimes has their gaining more than what bitcoin is earning (altcoin season)

[Jamal Aezaz]

$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.

Yes diversification is much more important for multiplying your invested amount therefore don't invest in just a single alctoin as it will become unsafe for you. Invest half in bitcoin and half in etheruem, BNB, solana and matic.

Altcoins are also higher profitable and many people have earn huge money with altcoins investment so don't be afraid of taking risk as every altcoin does not posses the risks and many of them grow back after experiencing a dip. Take profit from both bitcoin and altcoins as they can provide us huge payback in few months.

[Cantsay]

$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.

This strategy will not work in the case of OP.

Remember @Fivestar4everMVP's friend is not well versed in crypto so if he should try to diversify his wallet by buying altcoins he'll onyl end up with nothing at the end of the year, unless the Op is willng to take charge of everything that goes on i.e watch, research on the coin to be bought, etc... If not it will be a disaster.


@Fivestar4everMVP, there are so many ways in which this could go wrong, and I'm sure you'll be the one that is blamed for it. From what you wrote, I see that this friend of yours currently does not know the risk involved in this type of investment that he's about to enter. All he knows is that he's about to venture into a land filled with milk and honey. In the next 10 years, he'll be a multi-millionaire, and that is not good.

Before you take another step forward, just try to sit him down and lecture him about the risk involved and that he should make sure that the money he's about to invest won't be needed or anything anytime soon (since he's going to be holding his coins).

[Gladitorcomeback]

I don't mean to blame you for what you did but you shouldn't have done it that way. The very first thing that you should have done after suggesting cryptocurrency investments to your friend was to tell him the risks involved because you can't tell someone that they will get guaranteed profit and there will be no loss at all because that isn't true, cryptocurrencies don't just gain value but they lose value as well.

Even if an investment in Bitcoin for the long term tends to provide the investor some profit, it doesn't mean you should tell someone that they are going to get a significant amount in return for a certain amount invested. For someone to get more than $100k in 5 to 7 years with just a $1000 investment, Bitcoin will need to go up 100x from the point they invest in it, if it's at $65k, it will have to touch $6.5m for them to achieve their target.

[taufik123]

-snip-
@Fivestar4everMVP, there are so many ways in which this could go wrong, and I'm sure you'll be the one that is blamed for it. From what you wrote, I see that this friend of yours currently does not know the risk involved in this type of investment that he's about to enter. All he knows is that he's about to venture into a land filled with milk and honey. In the next 10 years, he'll be a multi-millionaire, and that is not good.

Before you take another step forward, just try to sit him down and lecture him about the risk involved and that he should make sure that the money he's about to invest won't be needed or anything anytime soon (since he's going to be holding his coins).

Need further education, because many beginners almost appear when the market is bullish, like today.
Expect an investment that always goes up and makes him a multi-millionaire in just a few days or a few months.

But in reality it will not go smoothly, all will definitely have obstacles.
It is feared that when the market crashes and the value of the asset according to it will make him panic.
No adventure is quite as sweet as in a land full of milk and honey, it will only be an imaginative peak that will not be realized.

[examplens]

Some time ago I went through similar things, and that experience taught me never to do that again. 

- First of all, you have to be sure that he is ready to lose that money and that he can't blame you for it.
- You must be sure that he has learned the basics about cryptocurrencies, how they are converted to fiat (and vice versa), and the importance of choosing the right wallet and keeping coins.
- He must be able to follow the market and at some point make an exit strategy. Whether it is for part of the portfolio or the whole is a matter of assessment.
- Do not promise that you will do it for him.
- I would not suggest below the minimum 50% belonging to Bitcoin in the portfolio. 40% can be in some "safe" alt currencies like Ethereum, Solana, etc... And only 10% in something more risky, which can bring a significantly higher percentage growth.

[Aanuoluwatofunmi]

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.

I want to believe that we don't have to lie for other people to be convinced of making investment in bitcoin, we have the result to show in us and if they really have eyes, they should be able to see the benefits of adoption of bitcoin in us and that alone speaks more on our behave in convincing them to give a try in other for them to have a kind of result that we have, we shouldn't force or persuade anymore to what is going to be of benefits to him, they have to make their own decision by themselves to adopt bitcoin.

[Tribalchief]

Before reading other users' comments, I would like to share mine. Truly, I consider convincing someone in the form of lying a terrible and ugly idea. This idea has been a major problem for the crypto community because it tarnishes its reputation when things are not going well for the supposed investor. The volatility of the market itself puts everyone at risk, aside from the fact that you are even suggesting a $1K investment with a promising future return of tens of thousands.

You should know that in the crypto space, prices of Bitcoin and altcoins can fluctuate, moving both upward and downward. $1000 might find it difficult to reach tens of thousands in 5 years based on logical and past evidence. You should reconsider your actions and be ready to take the blame if anything goes wrong with the investment.

It would make more sense if I leave my own possible solution in this context. If you were so interested in helping someone with financial decisions, then altcoin projects would have been better suited, but there won't be any assurance that 5 years holds a promising tens of thousands return, as you mentioned.

[Z-tight]

and talking about profit, how much you will earn investing 1000 dollars?

It is possible to earn something 'realistic' if you buy BTC and hold it for a long time, i am not saying you will become rich after investing that amount, but you can earn returns on investment if you are patient.

Trading may give more profits, but it comes with more risks. I would rather recommend that people start with BTC, no matter how small the amount is, and they can grow their portfolio at their own pace.

[Litzki1990]

$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.

If I plan to invest for a long time with 1000 dollars, I will invest 80% of the 1000 dollars in Bitcoin and the remaining 20% I will invest in ALT coins. If I invest eighty percent of my total money in Bitcoin, I will definitely hold that investment for a long time and I don't care if I have profit or loss while holding it, but if I get some profit in ALT coin, I will sell my investment. If you invest in ALT coin and hold it for a long time, it may not be possible to get the same profit as Bitcoin, that's why I will sell it at a small profit and invest again, but my 80% Bitcoin investment must be a long-term plan.

[Wiseman]

and talking about profit, how much you will earn investing 1000 dollars?

It is possible to earn something 'realistic' if you buy BTC and hold it for a long time, i am not saying you will become rich after investing that amount, but you can earn returns on investment if you are patient.

Trading may give more profits, but it comes with more risks. I would rather recommend that people start with BTC, no matter how small the amount is, and they can grow their portfolio at their own pace.

If we consider investments from the side of usual accumulation of deferred (small) money from the salary, then ok it is possible to do so and even necessary, but this person can not be called an investor, as well as can not be called a trader who stupidly presses buy/sell without understanding what he does.

[gunhell16]

From what I saw in your story, you are just worried about your friend, and you just want to somehow help him, and I don't see anything wrong with that. There is only one thing that I saw that seems to be wrong in what you said: that you gave a guarantee that the $1,000 that he will release for this will be $100,000.

You are quite wrong on that point; you shouldn't have said that because you know that Bitcoin is volatile and the market is unpredictable. Then, now that you see as a result of what you did that you are now the one in trouble, maybe it's better to tell him the truth or just return the $1,000 that he entrusted to you, or you can also explain correctly that the $1,000 can grow and it is also possible that its profit is not that big in the short period of time.

[Z-tight]

You are quite wrong on that point; you shouldn't have said that because you know that Bitcoin is volatile and the market is unpredictable.

Op did not limit the investment to just BTC, but to altcoins too. However, the point remains the same, the market is unpredictable and the returns looks unrealistic to me, i would not recommend this to a friend, for the risk of ruining our friendship, i don't even tell people to buy BTC, i can only help them understand what exactly BTC is.

[MRY]

You are quite wrong on that point; you shouldn't have said that because you know that Bitcoin is volatile and the market is unpredictable.

Op did not limit the investment to just BTC, but to altcoins too. However, the point remains the same, the market is unpredictable and the returns looks unrealistic to me, i would not recommend this to a friend, for the risk of ruining our friendship, i don't even tell people to buy BTC, i can only help them understand what exactly BTC is.

Exactly, market conditions are very fluctuating and cannot be predicted accurately, even Bitcoin price movements are like that. It's better that you don't need to tell them that you are also trading cryptocurrency so as long as you can maintain it well, your friendship will still remain. good, because as you said, cryptocurrency can destroy anything including friendships.

[Faisal2202]

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

I liked the way you care about him, well I must say you should not have told a lie about a $1000 investment that turned into $100k in just 5 to 7 years. If that person is already under stress and under huge pressure from both work and the economy then don't suggest him to invest money in something that is already so up, It would make sense when the BTC rate was at $30k. But now it just no make sense. I would say alts are the only options remain there.

But still it don't matter how much you make him and lose him, the main point should be is he getting any type of real experience from this journey, I mean is he learning anything at all or not, If you have to keep the funds, and take care of it, then I don't think that your partner or friend is learning anything at all. Ask him to take care of the funds by himself, and share him the true face of the market as well. Otherwise you will lose his trust.