It will be very obvious that most people here will likely say that they will use that $1,000 to invest in and hold Bitcoin Cash for a long period of time specifically because Bitcoin Cash is one of the most worthy cryptocurrency to put your investment, it is still down from its all-time high price and Bitcoin Cash is fundamentally the real Bitcoin and will eventually gives good return in the future.
I am a pro Bitcoin Cash supporter and I can personally say that Bitcoin Cash still has lots and very wide room for it to grow even more even if it is actually being accepted now by thousands of merchants in different parts of the globe. However, like you and me that is just a small part giving big contribution to cryptocurrency adoption, that wants to be financially free, it would not really be recommended to put everything in one go. Just like what everyone says in investing in cryptocurrencies, do not put all the eggs in one basket.
But why?
Yes, Bitcoin Cash can potentially doubled its price, or even more, in the future simply because Bitcoin Cash is a large cap cryptocurrency that is worth to keep for long-term. But the cryptocurrency market is like the ocean - wide and lots of fish, and if we find Bitcoin Cash as financially worth it to keep, it is also an undeniable fact that there are other cryptocurrencies too that worth to look at and invest for short-term.
If ever I can have a $1,000 as starting funds for investing in the cryptocurrency market, I will wait for a good opportunity to purchase Bitcoin Cash in a cheaper price. If it's possible, I'll use some part of the $1,000 to purchase a whole Bitcoin Cash and hold it in a non-custodial wallet.
What what should I/you do with the remaining amount?
If I were to take an example of buying a whole Bitcoin Cash for $500, I can take the risk and chance of buying a low market cap cryptocurrencies that I can find profitable in just a short time. Of course investing always comes with a risk, but if you do your research enough, you will have a higher chance of finding a cryptocurrency that might give you high returns.
How to consider a cryptocurrency for investing?
When it comes to trusting a certain projects, fundamentals are the most important things to know. And here are some ways to find or to know if that project is worth it:
Use cases of the project/coin
How active and big its community is.
The partnerships of the project/coin.
Market cap and market ranking.
Market supply of the coin - If a cryptocurrency has a very low total supply and aims to achieve its vision, the price of that coin be easily pump and might give you good ROI.
This sounds risky, right? But of course there is still an alternative way to safely if you only want Bitcoin Cash in your portfolio. Because of the market's volatility, you can still use your remaining $500 for a "buy low and sell high" set-up while keeping your whole Bitcoin Cash in the non-custodial wallet untouched.
What's the perks?
Since Bitcoin Cash is a large cap cryptocurrency, it will really have a hard time to grow its price up in a short time.
And since Bitcoin Cash is large cap cryptocurrency, this only means that BCH is worth to hold as a retirement amount for everyone.
Please don't judge me, I'm not a hypocrite
Just because I promote Bitcoin Cash to everyone I know and supported it for its global adoption then recommended other cryptocurrencies to invest doesn't mean I am a hypocrite.
At the end of the day, I am still a cryptocurrency lover that pushed the adoption of cryptocurrencies and my job is not only to stick with one cryptocurrency, but to spread the word about cryptocurrencies.
sana all malaki kita sa investment🙄