@njee20 depends on what you want. ETH has been around for a while and the days where you could get 10x or “even” 2x returns look to be over. Along with BTC it’s got the 2nd largest market cap out there, so opportunities for growth are limited. The market is also very immature so you can still make money trading the news, but it’s very time intensive and you need to be very disciplined. Also, as it’s unregulated there are shitloads of dodgy things going on (wash trading).
Check this blog out:
http://blog.mclain.ca/buy-and-hold-31-cryptocurrencies-for-365-days-week-6/
The guy is down approx 20% from what I can see from the beginning.
Along with that you have problems with the security of the exchanges. Your average private investor probably hasn’t got the savvy to maintain wallet cold storage for multiple currencies if they’re looking to diversify and will most likely wind up leaving everything on the exchange where it’s anyone’s guess what could happen to it. If you lose your money it’s pretty much gone. You’d need to have a huge amount of comfort with saying goodbye to your money.
You also have the problem with everything having a huge correlation with the price of BTC. BTC goes up? All cryptos go up. BTC goes down? All cryptos go down. Right now they’re mostly being used as vehicles for speculation instead of actual currency which is frustrating because the possibilities for transacting are really cool. The irony of writing that here is not lost on me by the way.
@bikebuoy sounds like you’ve dabbled? Do tell! Would be fun to have a cryptocurrency thread 🙂 Personally, I think there are more reliable returns out there. If you can tolerate “only” ~20% pa 😀