My current holdings on poloniex: 3,448.50 USD.
A lot of people are very surprised to hear that I have never purchased a bit coin, or any portion of one, despite quite an OK holding.
Often they want to know how it happened, and I'm really proud to say: I earnt it. I'll share a few tips on good places to start, and how to trade:
Originally I earnt $234USD in bitcoin and then traded it to turn it into that much larger number.
That 234 came from multiple sources, but a couple of the main ones include: Steemit, Digital Artists Online (http://www.digitalartistsonline.com/earn/?dao_ref=ugZ0vWPVGT) and even selling WOW gold (Wow's economy is no longer profitable however.)
These are not as profitable as trading, but are much much lower risk, and very easy to do. Steemit is obviously an excellent platform, and has a great potential to earn from. Digital Artists Online is NOT that profitable, but as you simply can viewing a few crypto news sites, with the ads replaced with ones that pay YOU, and not the website, its an easy income for doing exactly what you would usually do. (there are surveys too, if thats your thing.)
As for trading, my advice is very very simple.
Put money in everything. When a massive spike hits on any currency, trade it out for bitcoin, wait for it to drop again, and then put it back in.
It's been shown by a post recently (I will reference it if I can find the link) that lower market cap coins perform better long term.
But they also have a higher risk: They may not rise at all. Thats why you put a small amount in as many as you can. A boom from one, covers all the losses from others and more. Then spread it out again. If you continue this process, each time there is a boom on any random coin, you can gain large amounts of income by spreading it across everything. Diversification is EVERYTHING. Bitcoin will NOT rise forever, and neither will steem. Instead, its better to catch every possible boom in smaller amounts, and spread your losses over smaller amounts. As the cyrptocurrency market as a whole is in it's infancy, only one thing can be garranteed: The market as a whole will expand. Which coin will take the lions share is difficult to pick at times, but one inevitably will, its just often not the one you expect.
Spread your holdings. Make a killing. Rinse and repeat.
At the moment my portfolio is as follows:
10% in BTC.
5% in Steem
85% Scattered in every other conceivable currency, in 1 or 2% amounts. I don't own EVERY currency, as some are truly just scams, but the vast majority I have a very small holding in.
This has been by far the most effective strategy I have found.
I hope this helps some of the newer traders out here.
And remember: DIVERSIFY!