For some days now, I've been patiently watching the trend of cryptocurrencies and I'm kinda confused about which ones to Invest in.
I know steem have a great potential in the near future but will like professionals in the field to give me some guidance on the best five cryptocurrencies to Invest in and have a good profit
It is difficult to name some that will grow because they're so volatile. But in general the whole market has been going up steadily so odds are that it will keep going. The most important thing is to set yourself rules from the start. For example, decide exactly what you want out of a coin. Are you going to be trading often trying to get a certain percentage return on each trade, or are you going to be holding for long periods of time?
I'm no professional, but my portfolio is doing fine at the moment. I bought small amounts of 40 different coins. $50 to $250 worth of each, with a couple of exceptions. I started early in May this year, kept buying every few days a different one, I haven't sold almost anything, I ignored all the huge price hikes or sells and just kept the coins; the few I sold were used to buy more. 6 of them are in the red currently, to the tune of $300 total, I'm not selling them, so it's not a loss yet; but the rest have all gone up, and the #5th best coin's profit alone pays for all the losses. Per total I'm up 400%, in 6 weeks, and most of the coins are a lot younger buys, so I'm expecting it to keep increasing in small but measurable amounts over all. Keep in mind that a coin with a marketcap in the high hundreds of millions or more, tends to move slower than a coin with a market cap of a few million.
I'm going to paste a link to a guy who inspired me, you might find some useful tips there, but always read up on a coin, you need to form an opinion on each of your buys.
https://www.cryptocompare.com/portfolio-public/?id=188
Ignore the big $ amounts at the top, they're misleading. Scroll down at his coins list and hover over the total value amount of each coin. You'll see loads of buys with amounts of $50-$150 that gave him great returns.
I tend to check his profile daily and see the new buys. I copy some of them with small amounts.