Which crypto have you got in your portfolio?

[MsFogi]

Over the coming year I'm planning to drip feed some of my cash into a few crypto currencies (I plan to end up with about £30K exposure).
The obvious ones are of course Bitcoin and Ethereum (and I see there is a Ethereum 2??) - have any wise MNers got any advice for me on whether there are others I should look at and any advice more generally (I'm going to use coinbase)? Thanks

We are holding...
Bitcoin (obvs)
Polkadot
Etherium
Dogecoin

And a few other weird ones we trade quite frequently

Thanks Totalwasteofpaper

Now that I am having a good look at Coinbase can any wise MNers help me with a couple of additional queries:

• what payment method do you find best/safests - direct transfer from a bank account or using a credit card?
• Do you "stake" your holdings to earn extra return?

Hi...I'm aiming for about £30k over the next 1-2 years too (around 5% of total investments). I've currently invested about £11.5k since October.

From highest to lowest, I have ETH, BTC, LUNA, SUSHI, GRT, QNT, LINK, YFI, BAT, XTZ, AAVE, FET, COMP.

I use bank transfer using faster payments to Coinbase. As long as you've treble checked the details, it's reliable and quick. NOTE: your target account number and sort code can change, so check the details on each transfer.

I currently stake XTZ on CB, but I'm looking at staking ETH and others too.

Ethereum 2 will replace Ethereum so it's the same. Look at Solana too, they're low at the moment.
To save money on Coinbase you can use Coinbase Pro to buy as limit orders where you can place an order that will fill at a specifiedprice price. Watch YouTube tutorials, Every bit helps good for this. Investanswers and Coinbureau for deeper analysis.

Bitcoin and Ethereum on Coinbase are a great place to start.

Coinbase is the easiest for newbies
Bitcoin is the original crypto
Ethereum is the main smart contract platform by a mile.

With £30k, you dont want to be keeping those on an exchange, get a hardware wallet (Trezor or Ledger are good), test out using it with £1/5 and once you are confident that you know how to use it and have saved your seed words safely, move it off coinbase and into your own custody.

After that, take some time to read and think about what you want to do in crypto

• Are you interested in Art? - look at NFTs
• What about gaming? = look at metaverses
• In it for the cash? check out defi protocols
• want to make friends? - join a DAO
• in it for the tech? - look at Layer 2s and alt-chains
• want to chase the drama - look at dog coins and other memes

There is a whole world waiting for you in crypto.

One word of warning, crypto is a rollercoaster. It demands that you interrogate what you really value, it questions your values even more than you question how valuable it is.

Welcome to the rabbit hole.

Highest to lowest holding
BTC
ETH
SOL
POLKA
AVAX
ENJ
XRP
HARMONY
DOT
MANA
NEAR

And a few sh8t coins I’ve lost on!

I’ve been thinking of getting into cryptocurrency but I’m starting from a VERY low knowledge base about how it all works. Is there a basic explanation/website anyone could point me towards?

@MamaSqueak

I’ve been thinking of getting into cryptocurrency but I’m starting from a VERY low knowledge base about how it all works. Is there a basic explanation/website anyone could point me towards?

I would start with ‘every bit helps’ on YouTube. She explains the basic very well.

Thanks v much - that looks helpful

XRP and XLM here

Bitcoin, hmmm... Never invest more than you can afford to lose!

Has anybody ever bought crypto via Revolut?
I have been thinking of starting by putting small amounts in this way before investing more heavily…

@Recumbenttrikesrule

Bitcoin, hmmm... Never invest more than you can afford to lose!

Same with equities, gold, property etc

I need to do a lot of educating myself before I take the crypto plunge. But could I ask again about the best platforms? I think Coinbase and eToro were recommended on a recent thread but the Trustpilot reviews were very mixed, with particular issues in terms of withdrawing funds.

@plm456 Definitely Coinbase for beginners. I wouldn't use Etoro due to the exchange rate charges.

Also @Twilight7777 read up about XLM and XRP as they were being investigated. Maybe convert them for some of the top performing, especially Bitcoin and Eth, also Solana, Matic, Fantom.

Crystalize thank you. Presumably you haven't had any withdrawal problems with Coinbase?

Does anyone have litecoins? I bought some way back in 2013 I think. At the time they were called silver to bitcoins gold but that is obviously no longer the case. They were £10 each at the time I think. I can’t really remember. Bitcoin was about £400

I started on Coinbase, it's really straightforward to use and I keep 4 different tokens there that were my first investments. I have my account linked to my debit card to make payments, but you can only withdraw out into PayPal so make sure to set that up.

Now I mostly use Kraken Pro and have a wallet with Metamask. I don't have anything staked but probably should.

I'm invested in Ether, Bitcoin, Solana, Ada, Dot, Matic, Mana, Luna, LRC, Algo, Shib and Doge, plus some smaller stuff in Metamask. It looks like a lot written down!

We have 1.3 BTC
100 DOT
2000 NEX

And a few other bits that we put a few quid on just in case they were the next big thing.

We use BlockFi to get interest on the BitCoin and DP has staked the NEX so we get additional income from that too.

We're hoping that once we've paid the mortgage off we can use the crypto as a retirement fund to allow us to retire early and tie us over until our state pensions are available to us.

@LindaEllen

We have 1.3 BTC 100 DOT 2000 NEX

And a few other bits that we put a few quid on just in case they were the next big thing.

We use BlockFi to get interest on the BitCoin and DP has staked the NEX so we get additional income from that too.

We're hoping that once we've paid the mortgage off we can use the crypto as a retirement fund to allow us to retire early and tie us over until our state pensions are available to us.

You can withdraw GBP wallet to UK bank accounts.

Good Morning all,

I have not long been investing in crypto but have really enjoyed it so far. When I first started I set up a coinbase account which made it really easy and simple for beginners, due to me moving my coins about I soon realised that the exchange fees are quite costly on the standard coinbase exchange. If you plan to just invest and hold the coins there for a few years then it’s a great platform, however if you plan to move them to a cold storage wallet or trade then you would be better with coinbase pro or the one I use Binance. These both offer cheaper rates.

For me I have invested into the main coins such as BCH, BTC, CRO,JASMY,LUNA, SOL, ADA, ETH, ATOM, MATIC, ORN, QNT, SHIB and plan on leaving these now for the next few years and see what happens.

Coins I am playing with and watching on a weekly basis are AAVE, ALGO, AVAX, AXS, DOGE, DOT, FET, GRT, HBAR, MBOX, SAND, UNI, XTZ, YFI

A Few tips that you need to really think about !!!!

• Only and I mean Only invest what you can afford to write off, it’s a very volatile market! My mind-set at the minute is, any money that goes into crypto has gone just like if I was to buy something from a shop. Hopefully I make but that’s how you need to think.
• If you are keeping the coins you invest in on an exchange like coinbase, then technically you still don’t own them and if the site gets hacked and your coins stolen they are gone for good… Doubtful but possible also. I leave around 800 on each site all my other coins are moved to what is known as a cold wallet, once on the cold wallet they now belong to me and only I have access to them and they are no longer on the web or any exchange. The device I have is a ledger nano X… You tube will explain these brilliantly
• One thing to read and understand if you do plan to invest is the UK tax laws on cryptocurrency, I must be honest! I’m still getting my head around this bit, but so far I have learnt that it is best to keep records of when you buy the coins (amount, exchange rate, exchange fees) and then when you sell them. Also tax comes into play when you trade one coin for another if gains are made. But from what I gather if you just buy coins for GBP and plan to hold them, then you only need to work out the tax when you finally decide to sell them off. This link is very useful koinly.io/guides/hmrc-cryptocurrency-tax-guide/

I Hope I didn’t bore you with the above. Like I say I’m very new and there are loads of people out there who know loads more than me, I just thought I would give you my views from someone who is at the beginning of the crypto journey…

CryptoDad

Has anyone got involved in any DAOs? I’ve only just started to get interested in crypto and gone right in at the deep end it seems. I’m listening to weekly AMAs and don’t know who I am anymore!

I have ADA, Dogecoin and Tron.
I bought ADA at .37 and sold enough to cover my investment at around $3.00. Now it’s staked and making a bit each week without costing me anything.

LRC

ZK Rollup is the future