Newbie Investing: best way to store altcoins and other questions
Hello everyone,
I'm getting myself ready to start investing in Altcoins, and I'm slowly getting myself acquainted with all the process.
Just to be clear, I am in this for the long haul. I do not intend to short sell, or pump and dump. I wanna invest in many coins and store them for the future.
I have around $3000 USD saved-up that I am willing to invest and I'm quite prepared to lose them all, I understand it's a gamble.
Storage
From what I read online, the #1 advise is to never store the coins on the exchange. So I'm planning on buying the coins from Bittrex but I do not plan on leaving them there.
I've also read about Hardware Wallets, but they don't support multiple currencies and the Ledger Nano S supports the coins I do not want to invest in.
So my only other solution is to download the official wallet for each coin and store them on my computer.
Is that safe? Do you recommend it?
Should I store them on my day-to-day PC or buy a new small laptop for this purpose?
Does it matter if the PC where the coins are stored is always connected to the internet? Or is it better to store them on an offline machine and then copy the Address to a read-only wallet?
If offline machine is better, how would my wallet update if the laptop is not connected to the internet?
Investing in New/Rising Coins
How do you measure the potential of a new and rising coin?
I understand, first I have to read up on the coin's project, their plans, the team, the developers, are they solving a real problem... What if all that checked out but then you see the coin's stats:
- Market Cap: $18.7M
- Circulation Supply: $5.7M
But Volume (24h) is only $88K
From what I read in the past few days, the higher the volume a rising coin has, the better. Having lower volumes doesn't indicate health.
Am I correct in my assessment? If not, how do you measure it?
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