Crypto currency

It's around 56.500 at the minute, you buy the underlying asset which is a percentage of what bitcoin is worth. I.e 5600 would buy 10% of a coin

 

All three cryptos I own have doubled in value already this year.

A lot on this thread commenting who don't understand cryptos. Would strongly recommend doing due diligence and understanding how cryptos work and in what areas an uncorruptable blockchain can be better than a traditional currency before investing. But they are a good earner at the moment if you put the time in.

 

There's cryptocurrency and then there's those dodgy Facebook groups, who dupe people into investing in something masquerading as cryptocurrency, when they are really just operating a pyramid scheme.

 

You've been reading stuff again haven't you. That's cheating, you're not allowed to know stuff by reading stuff.

 

So 10% then! I.e. 90% isn't put in to such things! Great argument pal!

 

There have been Ponzi schemes in crypto, just as elsewhere. The most famous was Bitconnect in end of 2017. They are rarities and fairly easy to spot

 

Which three are they, bud?

 

I'm in on Ethereum, Bitcoin Cash (a split from the original Bitcoin) and Cardano.

I see all as long term investments so not hugely worried about short term trends. But nice that they are all in the green. High hopes for Cardano especially.

 

I've heard lots of bad things about Coinbase - poor support, crashing when mass activity etc. And I've just looked and it's seems you can't buy Dogecoin on there.

 

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I've used binance for a few years now and the mobile app is mental to try and get your head around. The website version is a lot, lot better.

 

An interesting thread, and as @Tyketical Masterstroke wrote "The responses to this original message show exactly why you should seriously think about investing in cryptocurrency. So many folk clearly with absolutely zero clue of what they’re talking about means that anyone investing now is still an early adopter, and consequently the potential to make many multiples on an investment..."! One thing I recommend is to think globally about this - I live in Hong Kong, and I see how huge the groundswell is for crypto in developing nations. When you just think in terms of Pounds and Pence, most of you have an inherent trust in the British financial status (rightly or wrongly), but that's not the case with the currency in many many other countries. The tech-savvy youth in developing nations especially are turning to crypto as something they can trust and as something that can lift them out of poverty. Don't underestimate this - crypto is the future and will not go away. The real question is which projects will survive and prosper. I've done extensive research, because there really is good money to be made (I've earned over 1000% on my investments to date) - it definitely is worth the effort!

Oh, and HK doesn't have profits tax

 

Yes, it’s only $24bn invested into cryptocurrency in a few days from one country alone. Peanuts!

 

I concede that it's not an insignificant amount, but if it amounts to only 10% then it can't really be an argument against Biden's package, can it?

 

Just out of interest, have you banked those profits (i.e. converted them back out of cryptocurrency and started again at a lower base) or are they still held in the cryptocurrency itself?

On another note, how does this strange (to me) world interact with the Hong Kong Dollar or the Chinese e-CNY?