Crypto Currency. Where is it going?

[Marksantos]

What apps or site do you use to invest? As I'm thinking of investing now but the sites/apps had really negative reviews in regards to withdrawing your currency etc.

[enda915]

What apps or site do you use to invest? As I'm thinking of investing now but the sites/apps had really negative reviews in regards to withdrawing your currency etc.

Crypto.com is the best bet for me. It can be slow getting set up, mostly through the verification processes but once you get the go ahead it's plan sailing. Free debit cards, cashback, interest, reimbursements etc, lots of "free money", if you will. Withdrawing is no issue. You can also withdraw to a bank account that has made a lodgement to it. I lodge from my Revolut to the app and withdraw to the same.

[enda915]

Unfortunately you have to stake cro for 180 days for the crypto.com card
It's too volatile atm to recommend the cro card
Because your funds are locked up for 6 months
Beginning of the bull run , amazing opportunities
But not right now

Crypto.com is amazing marketing and their official launch is on Christmas day December 25th . They bought the staples centre for 70 million and imo bringing crypto mainstream
It's on a dip right now
Personally " I'd buy the rumour and sell the news "
On Christmas eve

I want a cro card but not under this extreme btc votality

Capital preservation is more important

For the entry level card you don't need to stake anything, but you do get 1% cashback on all card transactions.

I have the Jade Green card and between Spotify & Netflix reimbursements, booking.com discounts, 3% cashback and the weekly stake rewards plus others it's worth €150-€200 / month to me. No bank will offer close to that.

[philipkntz]

I find Binance good. Very low commission and debit card with benefits that I haven't explored.
Since starting this thread, my original investment is up almost 500%. I will have to pay a dollop of tax on that and as I have been actively trading rather than hodling, that tax will be at income tax rates I think. I must look into getting maximum benefit of my capital gains allowance next year but this year has been a learning experience and paying tax tells meeting that I've made a profit. Could be a lot worse.

[LLLLL]

I will start it soon x

[philipkntz]

My advice to beginners.
Do not invest money that you cannot afford to lose or money that is time sensitive. You don't know when payday is.
Start small. Binance allows trades as low as 10 euro. Put 110 euro in and you can invest 10 euro in 10 different crypto currencies. Watch what happens for a few months
If you decide this is for you.
Decide how much you have to invest.
Wait for a dip, crash or what I call a sale. There's one most months recently.
Invest half your capital.
Watch the market crash further. Invest half the remainder of your capital and save the rest for when the brownstuff hits the fan.
HODL and say a few prayers, eventually the market bounces and your investment is up.
Now you have 2 decisions,
Take profit or hodl?
Is this something you want to go through every few weeks?
And
Ignore most of the advice available on the internet. Buy when everyone else is selling and sell when they are buying

[LukeSkyWanker69]

Some pretty solid advice here. I also suggest that btc and eth are some of the best investments for the long term. Even with a crash incoming those currencies will be worth holding.

[enda915]

I find Binance good. Very low commission and debit card with benefits that I haven't explored.
Since starting this thread, my original investment is up almost 500%. I will have to pay a dollop of tax on that and as I have been actively trading rather than hodling, that tax will be at income tax rates I think. I must look into getting maximum benefit of my capital gains allowance next year but this year has been a learning experience and paying tax tells meeting that I've made a profit. Could be a lot worse.

Have you looked at ways of paying the least possible tax on your profits?

[philipkntz]

Have you looked at ways of paying the least possible tax on your profits?

That's a job for next year.

[philipkntz]

And remember.
If you make a profit. Don't spent it all on coke and hookers. Save a large .part of it for tax