Crypto Currency Trading

[morrie21]

Does anyone here do this? I know there are a lot of scams out there - ie fake platforms that will just basically cut and run with your initial investment. Can anyone recommend a regulated platform to trade on, easy to withdraw money back to bank if desired etc.

Cheers in advance.

[Orraloon]

It's a good few years since I looked into this, but I think the whole point of it is that it isn't regulated. 

[Dave78]

2 hours ago, morrie21 said:

Does anyone here do this? I know there are a lot of scams out there - ie fake platforms that will just basically cut and run with your initial investment. Can anyone recommend a regulated platform to trade on, easy to withdraw money back to bank if desired etc.

Cheers in advance.

I've used Coinbase as my virtual wallet for about 6 years now. I think they're the biggest platform, and i haven't had any problems with them.

When i dabbled in a bit of trading a while back i used Binance. Again, i think they're the biggest and most established.

Regarding withdrawing fiat currency to your bank account, i can't really help there as i never do it. I tend to just hold onto my crypto, and use it to pay for 'stuff' (mainly IPTV).

 

[kumnio]

Coinbase or even Revolut will do you. 

[morrie21]

Thanks for the info. Crypto trading seems a bit of a mine field. Anyone use eToro for the normal markets?

[Malcolm]

Personally dont do crypto investment.  I dont see where the value is

[weekevie04]

Coinbase is quite easy getting set up and user-friendly, there was some fear mostly from forums etc about them going under due the market right now, some job losses with Coinbase, and the LUNA plus Celius debacle, but they've just signed a huge contract with BlackRock (shady company or not) I think you'll be alright with them.

 

 

[morrie21]

On 8/13/2022 at 2:59 PM, weekevie04 said:

Coinbase is quite easy getting set up and user-friendly, there was some fear mostly from forums etc about them going under due the market right now, some job losses with Coinbase, and the LUNA plus Celius debacle, but they've just signed a huge contract with BlackRock (shady company or not) I think you'll be alright with them.

 

 

Cheers. Appreciate the info.

[euan2020]

in my opinion cryto currencies are pure speculation and not an investment 

certainly you could make money off them, but it's pure speculative - at least with shares etc typically they are based on future cash flows etc 

depends how much spare cash you have, to be willing to lose 100% of it, and how much that money is part of your wealth

https://currency.com/netflix-documentary-probes-canada-s-largest-crypto-scandal

my take on it, it is very much Jack and the magic beans 

if it starts to get regulated, then value will drop - again my take on it

I'm a 10 on equity investment, but shy on cryptocurrency   

[slasher]

I dabbled a few years ago and made some £ but the arse fell out of it not long after. Apparently just now is a good time to get in again but it is high risk and can fluctuate wildly and as others have pointed out if and when they regulate it’ll become less attractive. I’d only invest an amount you are prepared to lose on as it’s definitely still volatile but some of the returns have been fabulous!

[morrie21]

Yeah, thanks for sharing the opinions folks. I've done some additional reading and shied away from it. It seems like the entry level investment would be more than I would be prepared to lose too. I'll just keep grinding away at the day job for now. Cheers.

[ger intae them]

Morrie…. a day job that involves grinding should not be left!

[Malcolm]

if you are in it for the long term which you should be for speculative investing you could worse than sticking money in diversified low cost trackers and leaving it.

[thplinth]

There was an older thread on Cryptos by Johnny I think which I posted my opinions on. It is a 'bigger fool' / ponzi type con IMHO. Like all such schemes if you time it right you can make money but it is still a ponzi scheme so someone will be left holding the baby. If you are coming to it now then you are probably far too late.

 

[thplinth]

Read something a while back that said Bitcoin was a product of the NSA. All this weird Keyser Soze mystery Japanese inventor reeks of spookville bullshit. The NSA had / have the best Cryptographers in the world that money can buy. It has likely come from them was the gist of the article. And then been weaponised or rather monetized. Like nearly all the bad shit going on in the world it is seemingly coming from 'within' or the deep state. The whole crypto thing is a way to yet again bilk the public of billions, trillions even. To fund God knows what. But surely nothing good. There is nothing to cryptos of any substance except this collective belief which could evaporate in a moment. That is when you will get burned to the ground.

[morrie21]

12 hours ago, ger intae them said:

Morrie…. a day job that involves grinding should not be left!

🤣😂 nice one!