facebookIs Ripple's XRP surging 70% a good buy now? With the Bitcoin craze sending investors to smaller cryptocurrencies, wondering if it's okay to buy in a little? - Seedly

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Anonymous

08 Dec 2020

Cryptocurrency

Is Ripple's XRP surging 70% a good buy now? With the Bitcoin craze sending investors to smaller cryptocurrencies, wondering if it's okay to buy in a little?

Does anyone know how buying into crypto works? Is it the same as stocks?

Discussion (2)

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Raymond

08 Dec 2020

Writer at GEEK.SG

I was holding XRP for a long time, and by that I mean 3 years. I've completely gave up on it and sold it for losses earlier.

When you are holding a commodity (think gold, silver, rubber, wheat, etc) and it's neither producing returns like stocks and not appreciating in terms of capital it can be really frustrating to see yourself forgoing other opportunities. Very often in crypto there is the long long winter where the price is stagnant and you start losing faith in it while watching other assets (cryptos and non cryptos) appreciates.

The crypto space evolves very fast and it is better that you have strong conviction about your portfolio. Either that or you have plenty of time to trade every day...

If you are experimenting with crypto, it wont hurt to "buy a little" to be honest. Put some coffee money into it and you will be surprise how much that coffee money can net you in knowledge & experience (and that is more valuable than a 100% gain on coffee money).

I've some content to help you get started:

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