Well, following on from the previous thread on this subject (and NFTs) where I had a mini meltdown and managed to piss off two good people, I've decided to lump 200 quid on 4 different currencies. I'm still not 100% sure what I'm doing, but it's an amount I'm prepared to lose in order to learn. Sorry to @Spirit Ditch and @Loko the Tyke , I was bang out of order. If I make anything off it I'll buy you both a pint (or transfer you the equivalent amount in bitcoin)
I don't get get it at all, but in the summer I lumped £250 into Binance and spread it over 6 different currency thingies. It crashed the week after, and my £250 went down to less than £100 at one point. It has recovered a bit, but the highest it got was £252 !?!?! Currently £230.60 I missed the boat 5 years ago when colleagues got into it. I had no spare cash. Lad at work saw his initial £1500 jump to £48k at one point.
Bitcoin, Ethereum, Bitcoin Cash and Litecoin. I'm pretty impulsive so I've no idea if they're any good, just using this as a way to figure out how it all works in real-time. I learn better by doing, not watching/reading.
He is currently looking at how to release it in a tax-friendly manner. Or Semi-retirement then working on investments as a hobby for more growth.
Whilst I believe it's true HMRC have a relationship with Binance and Coinbase, there are many exchanges they don't. As ever, dyor and I'm obvs not advocating tax evasion, probably, but we've paid tax on it once as earnings, before gambling it on crypto.
. I find this channel amongst others very informative. She has stuff on all sorts of crypto and is particularly good for beginners, also non of the usual US hype as she's from Wakefield
I've seen her before but she doesn't seem as knowledgable as she might. But she's from Wakey and looks like someone at work so I sort of like her.
It's counted capital gains tax, so nowhere near that and only after around £12000 off the top of my head
Nice one mate, that's cool to see. I don't think you'll regret it personally. For what it's worth, Plan B , the analyst who created the stock to flow model has bitcoin at minimum 100k.by the end of the year, and he's been right consistently for years. BTC is increasingly the hedge of big business to counter inflation (And a state currency in Panama- others likely to follow). Ethereum is amazing, and increasingly adopted. And btw the last celebrity to get on the nft train was Reece Witherspoon heheh!
The only one there I’m not familiar with is Bitcoin Cash. I haven’t bought any Litecoin but it’s a strongly tipped one. I’ve been throwing £50 at any new coin or low value coin that gets any kind of press coverage (by press I mean social or Reddit). I bought some Shiba ages ago, about £60, and it bombed to as low as £15, but recently rocketed out of nowhere to £150. That might be the highest it ever goes, but I’ve got 5 million coins worth so if it wants to keep going I won’t complain. Trying again to get my head around NFTs. I don’t really know what I’m doing with Crypto to be honest but I just like to be in with a shot if we’re talking monthly Bet365 allowance up front.
XRP has done well in recent weeks. About time their court case was over so it can hopefully start heading faster towards their all time high that it's still miles off.
Some of the alt coins are really going to run high at the end of this year I reckon. I'm pretty invested in QNT - which looks like it has incredible future potential.