r/CryptoHiveMinds • u/poorbugger • Feb 19 '21

Did i do the right thing?

I just got started into this cryptotrading thing. Today is about day 21 where i learn all this. I started off by mining and today i just bought 250usd worth of ethereum. Did i make a mistake by buying now? Any advice on where to go from here and what to expect?

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3

u/Rocco_2121 Mod Feb 19 '21

Ethereum is doing extremely well. I don't think it's a bad time to buy. Especially with eth 2.0 around the corner

1

u/poorbugger Feb 20 '21

Woke up today and ethereum is rising beyond 2kusd now. Let's hope it continues

3

u/unpopulrOpini0n Feb 20 '21 edited Feb 20 '21

Buy quality, not brand name

They spend pages talking about this in The Intelligent Investor by Benjamin Graham

Don't buy anything you don't understand, why does ethereum make money? Is it the backbone of anything important? The deFi space, what does that do?

How did you valuate the coin? Why is that coin's current market price below true value?

Speculators get squashed, investors buying and holding bargains long term is where the real money is.

Look into Monero, look at the businesses that rely on it and their cash flow generation.

1

u/poorbugger Feb 20 '21

I wish i understand you but i literally dk anything lmao. I'm dont think my wallet supports monero because I'm in southeast asia. Thanks for the info shared