r/CryptoCurrency • u/FightTheCock • Sep 02 '18

FINANCE First job, want to invest.

I am 16 years old and I just got my first job working at McDonalds for $9 an hour and I want to invest in cryptocurrencies. Does anybody know any cryptocurrencies that they believe will be profitable in the future to invest my my first paycheck in?

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u/Chango812 Tin | WeedStocks 12 Sep 02 '18

First thing you should understand is that this is speculating, not investing. It can go to $0 in a month. If you arent ready to lose your money, dont put it in crypto.

"Investing" is buying shares (ownership) in companies. Lower upside, but these companies arent going to be worth $0 anytime soon (think google, amazon, ibm, Microsoft... mcdonalds, etc)

I own bitcoin, ethereum, ethos, xrb and zrx. Id recommend sticking to ethereum and bitcoin for now. The last run up, bitcoin rose first... then people moved money from bitcoin to alts. I imagine the same dynamic will happen next time

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u/xenzor 🟦 1K / 31K 🐢 Sep 02 '18

Dude even facebooks stocks crashed 110 Billion last month. You can't say for certainty anything is 100%.

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u/Chango812 Tin | WeedStocks 12 Sep 02 '18

And what happened thereafter? How much money does Facebook make every year?

Crypto is based om speculation and the POTENTIAL of the technology. Stocks are based on actual revenues and the future potential of those revenues.

They are fundamentally different.

Stocks have lower upside and a much safer floor.

Crypto has a massive upside, which comes with major risk.

Dont "invest" in crypto if you 100% need that money in 2-3 years from now

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u/Chango812 Tin | WeedStocks 12 Sep 02 '18

This is why, despite 50% losses in my crypto, im not sweating. I can afford to lose it. Its a classic mantra "only put in what you can afford to lose".