Buy and hold cryptocurrency 2020

February 21, 2020 6:24 AM

I want to take a small position (£500) in cryptocurrency to hold for a long time, with the hope that it goes up in value. Should I go with plain old Bitcoin or something else? I know these things are super volatile, hence the limited outlay.

So much chaff out there! I don’t care about sales pitches, but data led forecasting is fine in order to help me make this decision. Thanks!

posted by The Last Sockpuppet to Work & Money (3 answers total)

Dogecoin, just because doggies are cooler than bits! The icon is the best.
posted by sammyo at 6:27 AM on February 21, 2020 [1 favorite]

Apart from volatility, I'd say the other key thing to consider if you're planning to hold is whether there's going to be a market to sell into in the future. For that reason I think you're best to stick with one of the bigger "coins" with an active community of investors.
posted by crocomancer at 7:21 AM on February 21, 2020 [1 favorite]

Tezos seems neat and new - maybe look into that one.
posted by oceanjesse at 12:12 AM on February 22, 2020