The Crypto Rollercoaster

[LemonSwan]

Hi all,

I have decided to take the plunge and start investing in Crypto.

Pretty hairy experience and thought I would make a thread to see if we can get other MN crypto investors all together for moral support while we ride the rollercoaster.

Any one out there?

Welldone LondonMiss

I just don't have the patience. ETC was up 150% in a week so I cashed out my initial investment and moved it to Bitcoin. Left the profits in there. This alt season cant be sustainable can it?

I've not yet put anything in crypto because I don't feel I understand it enough. From the outside the process looks confusing and the potential to be hacked, scammed or lose it looks quite high. I am thinking of putting some fun money in to get to understand how it works. Coinbase looks fairly expensive but also more user friendly and 'established' than some of the alternatives so may well start there.

I did suggest putting a bit in ETH about 6 weeks ago but DH was very negative and put me off. Looks like that was the wrong decision!

I some in ETC the other day and it’s up 41%, it’s crazy!

It's crazy. I had a couple of hundred spare at the end of January and bought Cardano....now it's worth over 1,000.

If I'd put it in Dogecoin it'd be worth 18,000. I thought Dogecoin was a joke at the time...if only I'd split them!

If be happy with the thousand.

Oh I am...but there’s always that little voice saying What if

I am over the what ifs today. I am realising you never 'win' with this if you do the what ifs. I had £450 on ETC from last week. Cashed out £250 yesterday at a profit of 150%. Came back today and the remaining is now 350%. Thats nearly worth a grand now and as I have withdrawn my initial investment + some profit its essentially free money from here out.

I think this will be my strategy. Wait for a pump, take out initial investment + a small profit and leave the rest in there.

Well I've taken the plunge and made a v. tiny trial purchase of ETH. I am up 84p in an hour. Clearly I am on the path to mega riches. Just off to browse super yacht catalogues.

@LemonSwan Oh dear, that's one downside I suppose of making it big so young! I don't think I'd ever have the guts to put in that much money.

I am intrigued now hearing about the profits people here have made and I have signed up with Binance. I think I need to read a bit more about the different coins before I do anything else though.

@Moltenpink
Yes Binance do still have referral codes, this is mine

46823544

I read that the Inland Revenue want to be informed of capital gains made from Bitcoin. They'll be lucky. Also that 80% of people buying Bitcoin lose money.,

[quote beingsunny]@Moltenpink
Yes Binance do still have referral codes, this is mine

46823544[/quote]
Thank you! I will have a look tonight

@SwimBaby

I buy and sell quite large amounts (25k) and transfer any profits into my current account. I used to trade banking shares and went through all the scenarios ‘if only I’d bought, then, sold then, bought more’ etc etc. Now I don’t say that to myself, I don’t have a crystal ball and I say to myself anyone can read a graph and say oh if I bought them and sold then I’d have 20k or whatever but did they do it, no they didn’t. Any profit is good. The psychology of it all is really interesting.

Are you able to share some brief details of how to invest and potential sites to use with positive and negative on each. You seem to know more than most of us, so would be appreciated.

I don’t really know that much, only a bit that I taught myself. I used to buy and sell banking shares using Barclays stockbrokers and now buy and sell crypto using Etoro. I basically wait for a drop in the market, buy and then hope for a rise. I usually sell the lot and then start again, ideally I like getting in and out and quickly, it feels less risky to me.

@Cailleachian can I ask what you meant when you said Its not actually crypto that you are trading there, you are trading crypto derivatives (legal grey area) so you cant actually withdraw the crypto, you always have to withdraw in fiat. I

I am just trying to understand this all better and was looking at etoro. They seem to say that you do own them. Is this not what you meant?
www.etoro.com/customer-service/help/1421408492/do-i-own-my-cryptoassets/

How is crypto different from gambling at this stage? Now everyone's into it. The time to invest in bitcoin was a few years ago. Unless you've got a time machine, there will be tears. I can imagine this future scandal going on Question Time and Jeremy Vine show. The government will be asked to bail out everyone who lost all their savings on crypto

Really recommend Coinbase for beginners, it so easy. Read up on Ethereum and the major financial institutions that are investing. It is rising rapidly over the last few weeks. And will continue to.

I signed up with Coinbase and found it very straightforward. If anyone is thinking of signing up I have referral code with bit of Bitcoin for each of us if you want to pm me.

coinbase.com/join/boulto_c36?src=android-link

Sorry, I have reported my post since the referral code for codebase comes up as malformed - I've asked them to remove post to save you wasting your time.

If you want a referral link for £7 free coin on coin base then PM me and I will send it

Yes mine is the same offer. As I said do feel free to pm me

DH is waiting for Doge coin to go mad tonight as Elon Musk is on SNL. He's set an alarm for 3am incase it crashes and he has to withdraw!
I sound like I know what I'm talking about, really I have no idea 😂

Does anyone use Revolut and can I buy crypto on that? I want to buy a small amount. Also, how quickly can you withdraw it if you want? Thank you!

@AdultCat

DH is waiting for Doge coin to go mad tonight as Elon Musk is on SNL. He's set an alarm for 3am incase it crashes and he has to withdraw! I sound like I know what I'm talking about, really I have no idea 😂

Did he do it?