Is missing out on Crypto, ok?
My parents focused on FDs, gold, and property, while I'm currently investing in stocks, mutual funds, and low-risk products. However, I'm contemplating whether to explore crypto investments for potentially higher returns. Is missing out ok?
One interview, 1000+ job opportunities
Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile šInvest that amount which u donāt mind losing
@FunnyBones unfortunately, I mind each and every penny that I lose, sorry just middle class mindset here...
Same here, I don't care how many people will make how much from crypto, I am not going to invest in it since it's value is not derived from any real business, and hence impossible to study the trends. If I had to invest foolishly, I will reach back the uncle who desperately tried to sell LIC policy to me, atleast I'll get to marry his daughter then.
it's clear most of you haven't ventured beyond the safety of your day jobs. Investing is inherently riskyāno such thing as a free lunch, unless you're into T-bills, and that's betting the U.S. doesn't tank. Onto the main point: crypto isnāt going anywhere. Itās not just tech hype; itās a lifeline because, frankly, our generation is screwed. Outside the 0.01%, forget making life-changing money on a salary. The last 5-6 years have shown a massive tilt towards speculation. Doubling your salary from 1L to 2L a month wonāt change your life. You won't afford a house, stuck in corporate servitude.
But hereās the kicker: the 24/7 crypto casino can turn $100 into $100,000. Thatās wife-changing, if not life-changing, money. Got $1,000? Try your luck 10x. Our nirmala can't tax this market. And investing in crypto SIPs? Seriously, read the Bitcoin whitepaper. Get why it exists.
Iām bullish on AI and blockchain for the next decadeātrillions in wealth waiting to be made. If there's another arena with these returns, show me. But remember, no risk-free investments exist. Ditch the SIP safety net; it's a fool's game.
I started with a 3 digit and made it into 7 digits, roundripped to 4 digits and now close to making it to 8 digits. When I talk to the folks here they are shit scared. They can't think beyond fd/sip/house etc. you seriously thought this is financial freedom? It's a liability. Trading/investing feels like play, especially with a cocktail in hand and bets that can swing 6-7 figures. Let's get real and read up, folks. This is the game now.
Read up reninscenses of a stock operator or when soros tanked the pound.
Our Nirmala does tax this bro - been paying 30% on all gains
So your advice is, weāre screwed, might as well try lotteries? The only difference between crypto and lotteries is that you can start your own crypto pretty easily and rug pull (read scam) a bunch of people because there is always a good inflow of suckers.
So if I were to be more practical but in line with your advice: Donāt invest in crypto. Thatās how you lose money. Make a new crypto or get in early with a friend who is making their own crypto. Then build hype. Tell everyone itās a āWife Changingā opportunity and then when your market val peaks, rug pull. Likely illegal but hey, thatās how the REAL winners of crypto have been making money. Not the lottery winners that are used to keep the inflow of Hodl drones coming in.
Crypto is fun if youāre actually interested in the tech and culture.
Donāt even need to invest just experiment and use new products and you will get AirDrops.
Donāt use centralised exchanges.
For eg this year Iāve received JITO, JUP, PYTH, TIA, ALT, DYM airdrops and some more but they were due to some other thing. Only TIA, DYM and JITO is more than my annual income.
However it is very difficult to get into depth you can start with decentralised.co donāt invest first and then try to understand what youāre buying.
However if you are approaching it with the get rich quick mentality you will 100% get wrecked have seen so many people. Thatās why IRL I advise most people to stay away, the stock market is no less than crypto market these days.
Also I was investing money in crypto in 22 when everyone was calling for its death and now Iām up more than 500% on my investments made in 22, this is excluding airdrops.
Itās a market for smart people because there just so many dumb people.
gm - airdrop farmer here too, DYM mainnet is tomorrow I think, excited for it
It is ok. If you want to, keep track of it. Or you could assign a single digit % of our portfolio on it after doing thorough research. Me personally, I think most of them are shit coins that won't exist 10 years from now. I hold some BTC, ETH and ADA. Have good confidence about ETH in case crypto is adopted in some things
Don't invest into shit coins cuz someone said so. Invest only if you have a strong conviction. If you're doubting yourself then don't invest in that coin. Also, crypto currency in India is borderline gambling since RBI hates it
I understand this, thanks for the advice. I don't want to go into trading so yeah I'll keep my distance from shit coins
Isn't Equity trading best alone?
Find out value stocks and keep them around for a certain target 20-200%
Duration 1-3 years
And believe these are easier than Crypto and safer for sure.
Need help with finding out such stocks?
Filter basis good ratios and good metrics over screener.
- Business prospect
- Fundamentals/Financials (Available at screener)
- Technical setup at chart (if any)
Not looking to trade anywhere, just want to do "value investing" with crypto coins. Like just buy and keep it for long terms.
Sure, no problem with that! This approach is also fine, but I feel taking bets on stocks for longer term is harder (say 20 years - that you're interested into); what else can be done is you can swing trade in safer stocks
put aside a small sum to understand and use on-chain products, thereās not much alpha in trading on centralized exchanges. Thereās a ton of amazing stuff out there and the upside is immense. If youāre interested I can type out some stuff that can serve as a starting point for you. But yeah only put into it what you can lose completely, middle
Class mindset will ensure you stay middle class forever, everything from equities to startup investing is inherently risky (different levels and vectors of risk) but itās definitely all risky. Check China and Japan stock index - havenāt made a new ATH since 2008 and 1990 respectively. Startup investing - 1/100 pays off hopefully. FDs barely keep up with inflation, gold is amazing to retain wealth but thereās limited upside. Property market is illiquid and riddled with issues like fraud, black money etc and rental yield on houses is 3%, real estate will grow but it wonāt 10X like in the past. Everything has pros and cons.
I agree with this, and given the amount I have to invest, I actually have diversified my portfolio to a certain extent (and am happy with the growth). I don't doubt crypto, I mean small cap stocks are risky as well but I am more afraid of the scammi-ness in the ecosystem. I have also come across crypto derived ETFs being launched in the US. I am looking to put something in there or do it when similar products are launched in India.
Agreed thereās a lot of scammers and they ruin it for people wanting to enter. I think you can buy US stocks on INDmoney, icici etc so it should be possible to invest into the US ETFs
What is crypto?
You'll know when you become a professional from a student
I have not heard anything dumber than this
That is risk capital, it comes after your needs are met to certain extent.
Or invest lumpsump with 10 years in mind. No point of investing for short term gain
Got caught with FOMO and invested in crypto SIPs on bitbns. Had about a lakh and wanted to choose because the regulations are crazy. It's been more than 6 months since I opted to stop and close everything but money is not credited yet.
Theoretically the concepts sound good but the companies are not trust worthy. Too many scams. I would suggest to avoid it.
I mean what's the point of an investment when you can't withdraw your own money and use it š¤·šæāāļø
I was discussing investments options with my dad and he told me if the exact same problems that they had to face while investing in stock markets, we have reliable apps but they had to pay brokers which were fraudulent many times. I worry about crypto for the exact same reason.