Should I invest 1,000 euro in crypto?


I can easily get the usefulness of bitcoin as a means of transferring funds securely. But I do not get its use as a particularly good store of value. There must be ~ 50 crypto currencies going at present and there's nothing to stop others being commenced. I get the fact that it's more transferrable than say so many metres of a gas pipeline or fibre-optic network. But to my mind and social intuition, the value of these currencies is largely speculative - witness the huge rises and falls over the last few years - and therefore should be avoided by a person with €1,000 from a total savings of €16,000.

This is not to say that Luna should not invest and accept some risk in order to achieve significant gains. With house prices demoralisingly higher and higher, Luna has "do something" to gather a deposit together and have a reserve against the stresses of his/her financial situation. I feel that the €1,000 on a sound but steady investment in a small company with good growth potential would be better for both investor and the economy we are all a part of.
 
trajan said:
and therefore should be avoided by a person with €1,000 from a total savings of €16,000.
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I couldn’t agree more. I did just set out my logic for my personal circumstances though. On a proportional basis, luna shouldn’t invest more than about €160 in BTC. On a logical basis, he/she shouldn’t waste their capital on it at all. I have a certain level of growth in my net value baked in by way of home ownership and pension size, they do not. I can afford to gamble, and I’m under no illusion that I’m gambling on people’s perception of BTC, rather than any intrinsic value.
 
Your question should probably have been gamble €1000 in Crypto rather than invest. And yes, if your willing to lose on it then I would say why not. I gambled €500 on XRP prior to Donald Trump's inauguration because I hope it might be adopted as an alternative to the SWIFT method of transferring funds globally by the American banking system under DT's tutelage given his supposedly new found love for Cryptocurrencies. I'm in for the long haul and have watched it climb and currently fall but have already written it off. Happy days if it makes me a respectable return in years to come. With the rest of your funds I would do some research into ETF's (Exchange Traded Funds) which are becoming a very popular investment tool with possible respectable returns. Malone Financials on You Tube, an Irish production has some very informative information for the Irish Investor. I hope this helps you. (Note: not financial advice )
 
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