Crypto
- Thread starter flyinmysoup
- Start date
pabloescaban
VIP Member
Swapped ethereum over to gala at 14p a week ago, currently on 27p.
Got almost 3000 gala.
It was up to 44p in November, once it gets past 35p I'm going to sell, sell, sell
Best of luck with this mate, seems to be back on the rise. May range in the 40-45k range!
Having read this thread it gave me the push to look into crypto … I opened an account with crypto last week and bought a few different ones …I only thought there was bitcoin till I saw this thread. I spread it out , Bought some bitcoin , Ethereum and a few others , I tried to find ones where the price had previously been approx 4x than they are now And bought them. very scary at first , it‘s money I don’t want to lose but can afford for it to be tied up for a while (providing I can retire on it in 3 years time 😁) Anyhow at the moment overall i have a 10% profit …so thanks for the original post and info.
I opened the Coinbase account through Quidco so got £30 cash back as well 👍
I opened the Coinbase account through Quidco so got £30 cash back as well 👍
pabloescaban
VIP Member
My coinbase account is about £200 up on a few weeks ago thanks to some swapping and changing.
Currently traded everything in for DESO which were £35 each and I've got almost 21 of the suckers.
They've gone up a quid today, but a few months ago they were well over £150 each.
Probably down to ten bob apiece before morning
It's a great time to be getting into it. Good luck and remember to hold your nerve if prices drop, play the long game.
Just be careful with your "4 times more" strategy though - those coins might have been so much higher once because they had what's known as a 'pump and dump,' they're not guaranteed to rise to those levels again.
pabloescaban
VIP Member
Bought 3,240 gala a few days ago @20p.
Now 25p 🤫
Gala has risen 20% ish on 24 hours but still looks a decent investment if you want to take a punt. Of all the meta coins YGG is one I've made most profit on, last year it was up and down often so good for short term trades. It's also the only gaming token not to have had a big pump and dump yet so it's worth buying at the price it's at now as a long term investment - it hasn't recovered from the post Christmas crash so it's at a very attractive price right now.
pabloescaban
VIP Member
Got 759,000,000 of a certain coin that I can't do anything with, CB ceased trading it a year ago.
Sounds a lot. It cost me £200 a year back, now worth £80.
If it goes up to 1p it'll be worth £7K
The maximum it can get to is 4p according to various sources
Sounds a lot. It cost me £200 a year back, now worth £80.
If it goes up to 1p it'll be worth £7K
The maximum it can get to is 4p according to various sources
Is there any way that you can move it out to a self-custody wallet and then ultimately exit on one of the DEX's when you like the look of the $price
pabloescaban
VIP Member
I've not tried yet as it's been going down steadily but I read the other day that it could rise substantially the next year.
Once it's in a wallet does it still rise and fall the same?
Should have spent it down the pub lol 🍺
You can typically hold tokens/coins on an exchange or in a wallet of your own over which you and you alone has exclusive control and custody. The physical world $price applies equally to both methods of holding.
Typically, when holding anything on an exchange you are basically not in control at all, (to the extent that there is a saying that goes "not your keys, then not your crypto").
When all said and done crypto was invented for the purposes of self-custody and self-sovereignty and therefore exchanges as a custodian of anything are contrary to those founding principles, and sadly we have seen many examples of exchanges failing or even stealing people's assets within their custody. Either-way, and for whatever reasons it's the user looses out.
Personally, if I am forced to use an exchange then I see them only as a means of entry or exit to and from the fiat and crypto worlds and the less time that my stuff is transiting through their systems then the happier I am.
You will often find that there are DEX's (Decentralised Exchanges) that allow people to exchange tokens/coins. When using/interacting with a proper DEX it is just you and the code, thereby eliminating or at least minimalising any counter-party risks. An example of a DEX is Uniswap which principally runs on the Ethereum chain, there are however a great many to choose from on many chains.
pabloescaban
VIP Member
Thanks for this, I've been meaning to do something with it but never got around to it.
Novacblue
Member
When I first started in crypto you was able to bank transfer straight into binance and have the best choice of 100+ coins so easy but far as am aware that's no long possible now i have to go though coinbase and transfer stable coins onto binance to get that best choice as coinbase is bit limited for coins as they only list erc-20 coins
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On and off ramps between fiat and crypto can be a bit tricky sometimes and often involves a fair bit of friction...............sadly, many exchanges operate with a business model designed to wreck their 'customers'. This coupled with the high-street banks pretending to "protect you" from a fate worse than death just adds an additional layer of difficulty/complication.
Personally, if I wanted to acquire say an ERC-20, I'd look to see which Distributed Exchange (DEX) has the best available liquidity and what it is paired with. An oracle like Nomics is good for that and it will tell you about DEX's like Uniswap for example.
Then buy your USDC or USDT or ETH or whatever at your exchange (places like Binance, Coinbase Crypto-dot-com, Kraken etc etc) then send it from there to your own self-custodied wallet address, then swap that on the DEX for your desired target ERC-20, and then keep it in that self-custody wallet address.
Using a DEX, is just you and the code - no AML, no KYC, minimal counter-party risk, and typically the best available prices.