Alice 💋 · 11 answers · 3y

Would you invest in cryptocurrency, do you trust it?

Already invested some of my money. You have to carefully read about the coins you wanna invest in. There are lots of scam coins out there. And for a considerable gain be on the look out for ICO/IDOs backed by well-known companies. For example a take the coin "MyNeighborAlice". Each Alice token was sold for 0.125 US dollars in its ICO. Almost a week later when it was listed in Binance Exchange it started with $16 for each Alice token. More than 100X profit in a very short amount of time.

Tbh I bought some dogecoin because I thought it was kinda funny, it's gone up quite a bit thanks to the media coverage and elon musk

I did once but my dumb ass spooked out. I bought ÂŁ50 of Litecoin one day as a hitch... I took it out some time later and moved it to Bitcoin. That evening the value of Litecoin quadrupled.

I've been a bit tempted to put in a ÂŁ20 punt into Doge Coin... but I think it might be worth waiting for the hype to go down on cryptocurrencies for a while. I trust Bitcoin but its massively overvalued right now. Its certainly a way to make money quick - but it feels a lot more like gambling than investing.

I put money into them in 2017 and could multiply my investment by 8 so far. I hope i get out of this cryptomeme before its too late

No and no. The latter due to the fact that I have a basic understanding of how that works and the former due to extreme volatility of value. Might though be a good high risk investment chance for those who can afford that risk.

not really, they're too volatile and I think the price can only go up so long, because it's kind of like a pyramid scheme. i don't really know, though, i haven't studied the issue.

Feel like it's too late in the game for any meaningful gains, but as a currency? I'd trust, yes.

Retrospring uses Markdown for formatting

*italic text* for italic text

**bold text** for bold text

[link](https://example.com) for link