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Original poster

Have you made money in crypto?

57 replies

pinkyperkyandmrjerky · 03/11/2021 21:25

Just this I guess. Have you or anyone you know made money from crypto? My husband is convinced he's gonna make serious £ and I'm happy for him to have an interest but I know little about it and I'm a bit 🤨 about it all. So prove me wrong 😀

OP posts:
FortunesFave · 03/11/2021 22:51

We have. We've very recently turned a 7 thousand Australian dollar investment into 50 thousand. But it's extremely risky as a pastime and it's not something you should do if you can't afford the losses.

We played with very small amounts first, so we could get to understand things better and we did lose a few hundred in the beginning.

maddy68 · 03/11/2021 22:59

Yes we have made circa 50k however I know ma y of my fried a that have had substantial loses. Treat it like betting. O my bet what you can comfortably lose

Original poster
pinkyperkyandmrjerky · 03/11/2021 23:01

Oh how exciting for you.!Congratulations ...It's great when the risk pays off! My dh is really into it and we can afford the amount he's playing with, so no harm done. I don't really understand it all but it seems like you could definitely have some luck if it plays out favourably. Fingers crossed xx

OP posts:
Hairyfriend · 03/11/2021 23:07

Yes. Still haven't sold it all, but at current rates, we'd have made £100,000. It does fluctuate daily though.

There are so many cryptos around now and the return is as good as if you'd bought bitcoin back in the early days. You also need to pay captial gains- which I don't think (might be wrong) you had to until recent years.

Hairyfriend · 03/11/2021 23:10

Typo- the return IS NOT as good as the early days. We were just lucky when DH took a punt on a small amount years ago. Its not something we actively look at buying again- unless it was a small amount again.

supadupapupascupa · 03/11/2021 23:28

Yes about 4K. Small investment starting to pay off. We can afford to lose the lot though

Boo65 · 03/11/2021 23:32

Yes, I started with £600 which is now worth £1300 on one platform, and £1500 which is now worth £2K
Nothing like the previous posters though and I have absolutely no idea how it works or what I'm doing really!

crystalize · 04/11/2021 03:57

Only invest in the most pristine assets in Crypto. Bitcoin, Ethereum, Solana, Polkadot etc. The institutional investment in the last year in Bitcoin is staggering and growing rapidly. It's currently at an all time high so be sure not to pile in lump sums. It's best to dollar cost average.

There are Youtube channels with some excellent information for beginners. I follow InvestAnswers and Coinbureau.

WorriedMillie · 04/11/2021 05:49

OH started small and is about 4k up at the moment, he just wanted to dabble in it as a bit of a hobby

Original poster
pinkyperkyandmrjerky · 04/11/2021 06:19

@crystalize

Only invest in the most pristine assets in Crypto. Bitcoin, Ethereum, Solana, Polkadot etc. The institutional investment in the last year in Bitcoin is staggering and growing rapidly. It's currently at an all time high so be sure not to pile in lump sums. It's best to dollar cost average.

There are Youtube channels with some excellent information for beginners. I follow InvestAnswers and Coinbureau.

Thanks so much for the advice. Dh is currently watching shib inu coin which has gained interest in recent days. He bought it way back for dirt cheap, so we'll see what happens.
OP posts:
FortunesFave · 04/11/2021 06:49

Shiba Inu has done very well and it's been way more than a few days that it's been popular. I'm glad your DH bought early and cheap.

ivfbabymomma1 · 04/11/2021 06:51

My DH put in a really small amount and is so far up 4K

Chesneyhawkes1 · 04/11/2021 06:55

Mine buys it. He's been doing it a while.

I have no clue how much he's spent / has though. I'll have to actually ask 😂

Original poster
pinkyperkyandmrjerky · 04/11/2021 07:03

@FortunesFave

Shiba Inu has done very well and it's been way more than a few days that it's been popular. I'm glad your DH bought early and cheap.

You seem more knowledgeable than me 😂 I don't really know much about it other than what he tells me but he says it's doing well so I just believe him.

OP posts:
bowlingalleyblues · 04/11/2021 07:07

No I’ve lost about 25% of my money, it’s really difficult to know how to time when to cash out. I put in 5k, it doubled in about 2 weeks, but then a week later it was down to 3k and although I’ve tried to recover it, the high cost of the fees has taken hundreds out. On the other hand a friend has made tens of thousands but that involved making it their full time job during lockdown it seems. I find it nerve racking rather than exciting, but perhaps it’s because I’m not following it all closely and I’m not really a gambler.

Original poster
pinkyperkyandmrjerky · 04/11/2021 07:34

@bowlingalleyblues

No I’ve lost about 25% of my money, it’s really difficult to know how to time when to cash out. I put in 5k, it doubled in about 2 weeks, but then a week later it was down to 3k and although I’ve tried to recover it, the high cost of the fees has taken hundreds out. On the other hand a friend has made tens of thousands but that involved making it their full time job during lockdown it seems. I find it nerve racking rather than exciting, but perhaps it’s because I’m not following it all closely and I’m not really a gambler.

Oh no 🙈 that's not so good. May I ask, and excuse my lack of knowledge, but why did you cash them in at a loss? Was there a time limit on them or something?

OP posts:
Porfre · 04/11/2021 07:36

Yeah. I made some.
But then needed a new car so pulled it all out.
Hoping to get back in the game at a good price point.

PurBal · 04/11/2021 07:46

Yeah. DH friend made a lot (£100k) on Bitcoin. Took it out thinking it was going to crash and invested it in GameStop (?) too late and lost it all. So, that was sensible.

MilduraS · 04/11/2021 07:50

We have but it's extremely volatile and we've only invested as much as we're willing to lose. We'd be upset if we lost it all tomorrow but we could still pay our bills comfortably.

Original poster
pinkyperkyandmrjerky · 04/11/2021 07:53

@Porfre

Yeah. I made some. But then needed a new car so pulled it all out. Hoping to get back in the game at a good price point.
It's so hard to get right I imagine
OP posts:
Sweetchocolatecandy · 04/11/2021 09:00

I technically haven’t made any money yet as I haven’t sold but my investment in shiba inu has doubled since I bought back in May and a few other tokens are steadily growing aswell. My plan is to hold long term though as I believe the crypto space is only going to grow.

fromdownwest · 04/11/2021 11:05

I am about £40k up on £20k investment

I am holding long time, and dont even attempt to time the market and trade it

Arabelladrinkstea · 04/11/2021 11:08

I know people that are all making weekly incomes from crypto investments - sadly I haven’t dabbled yet though, just doesn’t appeal Confused

StarcourtMall · 04/11/2021 13:15

I invested £280 in Bitcoin and sold for just under £1500 which I was happy with. It dropped as low as £80 at one point and up to £1700 but I couldn’t take the rollercoaster stress so got off!

Mia85 · 04/11/2021 15:49

Which platforms do you all use for purchase? I have only dabbled with small amounts so far (holding rather than trading).