I'm currently invested in XRP - Ripple. brought thousands back in 2017 at 0.19 then cashed out most when it hit $3. still have a couple of thousand invested. currently trading at 0.55, Ripple are currently in a law suit with SEC with reports saying ripple is ahead in the battle, if they win the lawsuit i think you will see the price jump up between the $10-20 and keep growing from there, XRP Isn;t a quick money maker though. I'm investing till 2025 and might even hold out till 2030. Don't put any money you don't have in to any CryptoCurrency as it's so unpredictable. I've had friends buy Crypto on credit cards for it to crash the next week and end up in debt. Nothing is Garunteed.
Crypto
- Thread starter flyinmysoup
- Start date
Cheers mate, ya my friend made 38,000 on ripple when it boomed, was unreal for an investment of 800, I haveva tiny bit of ripple once I've more to spare I will invest more, just bit the bullet and Brought DOT and SAND last night fingers crossed I'll have something back out of then within the next 3 months to reinvest
loncell
TK Veteran
Crypto's abit like cashing in on a bookies bet in running, your never quite sure when to do it. I've not dabbled with crypto "yet" but betting I always cash out when it hits 50% of the original winning stake.
I worked out over 12 months all my cashed out bets and had I have let the ride I would be at least a couple of grand down not cashing out. Crypto is abit like that, knowing when to cash in.
The secret is don't kick yourself if they go through the roof, just try to be calm and content then go again because I promise, more crypto will go down than go up or no one would make money.
For people to make money there has to be losers, not everyone can win. Its all about not losing, if you can keep your money and play with there's then treat it as a fun gamble.
Try selling when it rises and reinvest a part of the crypto you made
I worked out over 12 months all my cashed out bets and had I have let the ride I would be at least a couple of grand down not cashing out. Crypto is abit like that, knowing when to cash in.
The secret is don't kick yourself if they go through the roof, just try to be calm and content then go again because I promise, more crypto will go down than go up or no one would make money.
For people to make money there has to be losers, not everyone can win. Its all about not losing, if you can keep your money and play with there's then treat it as a fun gamble.
Try selling when it rises and reinvest a part of the crypto you made
Last edited:
Assets on Coinbase would not qualify you to be eligible as they are held by Coinbase in custody, therefore they are not actually 'your coins'.
Basically using an organisation like that is similar to using a high street bank for your Fiat funds; only difference is, there's little or no regulation in the crypto world and so you are totally beholden to them without any possibility of redress when it goes belly-up. Custodians and exchanges like that are a very good example of what crypto was invented for in order to do away with them. - The old saying "Not your keys, not your crypto" applies to that.
pabloescaban
VIP Member
I opened a coinbase account a few months ago.
I deposited £200 in November, by last night it was down to £60, changed it from bitcoin to ethereum a few weeks ago as BTC was falling so quickly.
Ethereum fell just as fast.
Last night I added £500.
By 2am it was on £555
By 2pm it was on £500.24p
Its now on £559
When I can draw out my £700 investment and leave a bit in to play with that's what I'll do
channelking
Member
Was looking into crypto while ago and researched alot into it but so complicated and overwhelming for me to understand as never been into such things or investments.
Good friend of mine has so much money invested in all types of coins and is sitting on close to 10 grand but still hasn't sold up.
Good friend of mine has so much money invested in all types of coins and is sitting on close to 10 grand but still hasn't sold up.
Market is low now I really hope you have timed it right with your 500 reinvestment to make a good profit, was a brave move but hopefully pays off for you mate, i put 100 in last night brought sandbox and dot, expecting a big boom from them going by crypto vets
First off, 85% dumps are pretty-much built in to the game. If you have diamond hands and are prepared to play a long game then great, but if the thought of seeing what you own wildly swing down in nominal value/price is likely to cause you distress or upset, then I'd say leave it all well alone.
Believe it or not, that kind of thing also happens in the real world too. I am sure that anyone who bought Amazon shares at IPO or with 3 years of launch and were still holding today would have a big smile on their face, but be aware that they would have had to live through 3 almighty price dumps during that time.
Going in and out of crypto from the physical fiat world involves allot of friction and sometimes cost too. When singing up for an exchange like say coinbase or crypto.com etc etc expect to have to go through the AML/KYC procedures just like you would have to if you are singing up for a high-street bank.
Most exchanges/custodians would rather that you kept your crypto assets with them (ie within their custody as discussed earlier in this thread). Personally I prefer to hold my stuff in a wallet/s that are under my own exclusive control.
Setting up a crypto wallet of your own is fairly simple, but can bite if you get it wrong. That said, you are far more likely to fall victim to social engineering than technical issues. Wallets (and by extension addresses) are a product of traditional private-key/public-key cryptography. The rule is simply this:
It is safe to reveal your public key/your address, but never ever ever reveal your private keys to anyone for any reason. There is never ever a legit' reason for anyone to reveal a private key to anyone. (private keys are also known as 'seed words'). Keep a record of your private keys safe and never ever keep them on any device like a computer or phone etc.
Personally I do not trade and would not recommend it to anyone. Whilst I understand the motives and desire for doing it @loncell's and @Paloescaban's advice given above in this thread is very true. If you must trade, then take your profits from time to time and be happy that you have done so. This is true in both the fiat world and the crypto world.
For me crypto has been a remarkable journey and has taught me more about our real world and how the money and the fiat banking system actually works than I could have possibly imagined in the beginning. I guess that we all think that we 'understand money', but when you actually get into this stuff for real you get exposed to some very interesting things and possibilities for the future. I honestly believe that we are witnessing the beginnings of what will become the biggest transfer of wealth in modern history and that crypto is not just here to help out, it's here to take over,,,,,, and yes, I want my own chunk of it; I am in it for the tech' because the tech' fascinates me, but man-ohh-man I am in it for the price too. I conclude that the internet's made-up funny money is simply better stuff than the government's made-up fake funny money.
The only advice I can really give, is to do your own research, don't let the sun get in your eyes, and play the long game. Remember too that all of it is just arithmetic.
At the end of the day, the main people who get very rich in crypto, are coin creators, exchange owners (who's business model is to wreck their customers (this applies to all exchanges)), and those people who simply acquire/buy and hold for a long time. (Hold On for Dear Life - HODL).
pabloescaban
VIP Member
Ethereum was about £4000 in November, dropped to about £1400 yesterday.
I guessed it wasn't going to go any lower so I threw the £500 in.
Its nearly £1900 now
steptoe
VIP Member
I just buy mine using my Revolut banking app.
You are limited to certain coins, but it works for me, and is simple.
I thought I’d get into Crypto by an alternative method to the traditional ‘buy and hold’ method by way of using an automated bot - it has generated 100% wins at 10%+ profits on each trade on over 75 trades now since 13th December.
Really impressed by it through its money management system and the community of support through it - similar to the support from this forum from the advice from the guys on this post which is really informative.
If anyone is interested in this drop me a PM and I’ll send you more details.
Really impressed by it through its money management system and the community of support through it - similar to the support from this forum from the advice from the guys on this post which is really informative.
If anyone is interested in this drop me a PM and I’ll send you more details.
Yep £20k hit sounds tough based on current asset values but the market is volatile and waiting a decision from the US fed.. need to thing longer term recovery!i'm £20k down from what i had 6 weeks ago
shit happens, all coins are down.
it will pull back
deanmitch
Member
exact same position here
yeah I've said im not investing anymore in... but looking at these low prices the temptation is certainly there haha
I'd invested more on previous drops not expecting the a*rse to fall out of the market so spectacularly!
pabloescaban
VIP Member
Its not much different than stocks and shares, except the fluctuations are more severe.
Obviously when investors have lost a fortune on the money they once had, they're reluctant to pile more cash in when prices tumble badly but this is exactly the time to invest. Kinda pointless putting money in when it's doing well, buy low, sell high
Obviously when investors have lost a fortune on the money they once had, they're reluctant to pile more cash in when prices tumble badly but this is exactly the time to invest. Kinda pointless putting money in when it's doing well, buy low, sell high