So I recently came into a decent amount of money and I've decided that instead of spending it all on useless junk, I would make an attempt at investing. Problem is, I don't know how or where to start and I don't want to wind up making any dumb mistakes and losing my funds.
>inb4 ask LULZ
I'd be better off discussing politics on /misc/
Any good sites, books, recommendations to point me in the right direction?
For 90% of people, a simple, low cost index fund is your best bet. It's easy and pretty effective at growing your money. Google "the simple path to wealth", there's a book about it
ETFs are better and will cost less in fees
lurk biz for 6 months before you spend a cent and lose it all on a shitcoin anyway
what he could possibly learn in biz?
Lurk LULZ and then do the opposite. Index funds, ETFs, or high dividend stocks are probably best for you. Look up the ticket XYLD, that's what I am buying.
ticker*
See I did this but made $80k profit on $100 of Shiba Inu and then put it in eth where it lost $40k in value.
At least I took $20k out but I'm still retarded
Make an account at 'Fidelity'. Buy a stock called 'Berkshire Hathaway'. Dont check it for 10 years.
Looked them up on Robinhood, looks volatile as fuck.
you buy some coin and hold it, treating it as a hedge against inflation like one would gold or silver. among coins, BTC is probably your best bet. none of the spinoffs have shown such a dramatically superior technology that people want to switch to it. in fact many have been transparent pump and dump scams that try to present some feature like "dollar stability" or incorporation into existing financial structures like FTC.
a possible exception may be monero, where the anonymity features are a solid improvement over regular BTC and it's clearly not a pump and dump scheme, but i haven't been sold enough to actually buy any.
>like FTX*
nagger, ETH is a primary competitor. It has utility and has stability like BTC. Unironically it'll eventually overtake BTC in market cap
ETH's technological advantage is mostly vaporware, nobody actually needs the decentralized security of a token outside of either direct use as a currency, or overhyped memes like NFTs. for all practical purposes the blockchain is just unnecessary bloat.
>investing in bitcoin
>How to invest in stocks?
get a broker.
>>How to invest in bitcoin?
there must never be someone in the middle who holds your coins, that's what crypto was trying to prevent.
Look at an App called Autopilot. It might be your best friend.
you have a better odds of winning in a roulette which is 1/38 with 35 times return, rather than putting your money into some shitcoin only for it to get dumped by someone or to receive a good return on your investment. at the very best it will be less than 2 times of what you invested. besides what do you think are the odds of it happening?
i'd say, spend no more than 40% of your income in gambling and maybe learn the game and few ins and outs of whats happening.
Honestly fidelity has treated me very well despite being a low investment guy atm.
They'll even help you a tad on stock advice.
Also dont trust Bitcoin unless you're using it to buy shit
1. Research options and companies
2. Pick which ones you like
3. Buy
Shitcoin winner from 2021 here. Understand that the world tolerance for wacky money funtime is in the shitter right now and you will not see a crypto rush for a very long time.
What do you do:
Use a private wallet - metamask
Don't use a centralized exchange like hotbit.
Never trust anyone without doing a LOT of research.
Start off with holding big players-btc eth Ada bnb usdc. This is your safe zone.
Dabble in shitcoins that have a lasting reputation. Doge and shib come to mind
Buy low sell high.
Watch charts. Dextools is great. Coin360.com is also useful
Be prepared to join discord or telegram communities if you want to try to get in on ground breaking new coins.
Learn the terminology.
Prepare for a lot of pump n dump coins if you're gonna play the market.
Watch coinbureau on YouTube. Solid education
NEVER EVER give out your security seed phrase.
Never click on random links
Depending on your region, pick an on/off ramp for fiat(money). Coinbase is what I use.
If you're stateside, be prepared to jump through some hoops to convert into bnb (binance)
Do crypto on only one device
Don't trust random DMs
Be careful of info you volunteer in discord and telegram.
2021 was a wild learning experience for me. I made a lot of real lasting financial connections, made a small reputation for myself, and was able to earn a quality second income and then some. When I say the market isn't ready for funtime, I'm serious. There's too much world upheaval and the regular money markets are all in bear mode right now. Your best strategy is to keep your reserves in reliable stable coins, dip into shitcoins that you research thoroughly, and immediately take profits after you do a 2 or 3x up while leaving your initial investment in to let it ride.
Lastly, fair warning....getting addicted to watching charts will destroy your ability to focus on doing fuck all during the day.
google "investing for dummies"