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Cryptocurrencies..

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By (user no longer on site) OP   
over a year ago

Not the most exciting topic I know, but anyone into this ? Hear it could be a way to make some decent money over time but unsure what ones are best for a cheeky flutter of say £1k with. Any educated advice for me fabbers ? Seems a lot of choice around at the moment.

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By *naswingdressWoman
over a year ago

Manchester (she/her)

The only thing I've heard is that it's hot at the moment for money laundering and it's likely that governments will take action against the rise of cryptocurrency in the medium term

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By (user no longer on site)
over a year ago

Best advice for any type of investment is to do your research and understand what cryptocurrency and blockchain technology is and how it works.

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By *partharmonyCouple
over a year ago

Ruislip

There are lots of programs about crypto currencies on Radio 4 on BBC Sounds. That's a good place to get some useful info.

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By (user no longer on site)
over a year ago

Bitcoin is about the safest option but prices are sky high. Do your research and make sure you’re comfortable with technology

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By *asycouple1971Couple
over a year ago

midlands

Most have fallen alot over the weekend. Its a gamble.

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By (user no longer on site)
over a year ago

Cryptocurrency was subject of an investigation some time ago. It said that cyber crooks are creating very professional websites allegedly featuring well known personalities from all walks of life supposedly endorsing cryptocurrency. None of the personalities have in fact endorsed such schemes as far as can be found out. Advice was given to anyone thinking of investing in any form of cryptocurrency to seek professional advice before signing up to any scheme parting with any money, otherwise prospective investors could end up losing heavily.

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By (user no longer on site)
over a year ago

I use Coinbase

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By *elshsunsWoman
over a year ago

Flintshire

Yep I day trade in a couple ... it fluctuates but not done bad with the ones I’ve had . Do your research

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By (user no longer on site)
over a year ago

I’m Currently running about 50% up on a mix of BCH and ETH.

It’s a very volatile market so be prepared to lose whatever you invest, or just buy a spread of some of the lower priced coins and forget about them for 5-10 years?

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By (user no longer on site)
over a year ago

Mine is the only true none gambling safe way

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By *anddXXXCouple
over a year ago

London

If you have any spare cash and can afford to walk away from if it all crashes, there is some fun and profit. One of my work colleagues bought ADA this time last year for 0.04 hit 1.41 at the weekend. Personally I've bought Trx at 0.045 2 months ago, this hit 0.16 before correcting to 0.148. There was a huge power outage in China over the weekend, caused a crash in Bitcoin and the others all followed suit. Somewhat recovered since yesterday afternoon and all up about 10% since.

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By *2000ManMan
over a year ago

Worthing

See it as a long term investment. Never, ever "put all eggs in one basket" as the saying goes and assume you could lose it all. The horror stories that came out of the Sirius Minerals share make very sad reading.

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By *tephTV67TV/TS
over a year ago

Cheshire

I have four crypto currency’s BTC (Bitcoin) ETH (Ethereum ) TRX (Tron) and XRP (Ripple).

All on an app called eToro easy to set up and start investing. Obviously you can’t buy a full Bitcoin unless you have 60k doing nothing in your Bank account but you can still buy in and make a profit.

I have invested the majority of my capital into BTC but recently made a better percentage on XRP and TRX so it’s always a good idea to diversify your investments.

It’s the usual advice but only spend what you can afford to lose.

You need to research as we saw a fall over the end of last week so it could be a good time to buy in or this time tomorrow crypto could disappear for all I know or double it’s price or increase to 70K / decrease to 40k a coin.

As an add on I also invested in Argo Blockchain so if crypto does become a regular way to pay for goods then I’m in that area as well.

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By *ophieslutTV/TS
over a year ago

Central

Invest what you are happy to lose only.

Many other threads on this if you search too.

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By *inkyfilthymindMan
over a year ago

Heathrow / Berks

DOGE is all the craze now. I am not sure if this is based on anything concrete though.

BTC is too saturated and the only way is down. Even it grows, it will be steady. ETH has scope the grow, but the pace isn’t there

Governments can do nada and soon crypto will take over the underground trade (its

Done a lot already)

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By (user no longer on site)
over a year ago

I have a few coins and made a nice few quid, best advice i can give is just research. Youll get used to it

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By (user no longer on site)
over a year ago

Soon be worth more than sterling

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By (user no longer on site) OP   
over a year ago

Thank you all for the excellent answers. Knew I could trust you lovely lot to speak sense....

Still undecided for now...due diligence needed. X

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By *rHotNottsMan
over a year ago

Dubai & Nottingham

Be careful, search my posts on these you really need to know how to read markets or just be damn lucky like me , unlikely, most people lie , but my buys/sells below are posted here as a record

S&S - buying Amazon, Facebook , Tesla , Apple and Microsoft since start of lockdown , cashed out July 2020 up around 1/2 a house

BTC - cashed on 13th April , very well timed , buying again already - up a bedroom

Metals golds on hold for now

P2P - after funding circle closed the secondary market and govt switched to covid loans I have been cashing out every opportunity, switched to cufflink site and it’s doing really well now staycations are a thing so I’m expecting a nice return

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By *heVonMatterhornsCouple
over a year ago

Lincoln

They're a lot more volatile than the stock market is. DogeCoin and Bitcoin gave been known to rise just based on tweets from Elon Musk for instance. My advice would be don't put any money in that you don't mind losing.

LvM

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By *rHotNottsMan
over a year ago

Dubai & Nottingham


"They're a lot more volatile than the stock market is. DogeCoin and Bitcoin gave been known to rise just based on tweets from Elon Musk for instance. My advice would be don't put any money in that you don't mind losing.

LvM"

Yes much more volatile than stock

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By *eisurepleasureMan
over a year ago

belfast

It’s not going to fail

It’s here to stay

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By *nkforthekinkMan
over a year ago

london/fareham/brighton


"I’m Currently running about 50% up on a mix of BCH and ETH.

It’s a very volatile market so be prepared to lose whatever you invest, or just buy a spread of some of the lower priced coins and forget about them for 5-10 years? "

Snap! It’s a gamble as much as it’s an investment do abit of research watch the market for a while!

Play for the long term! I brought XRP when it was @ 12p in July 2017 as part of a 5 year plan on a whim! I’m no expert but I’d i would suggest anything would be to try finding a up and coming ETH token!

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By *eyondhornyMan
over a year ago

Abercynon-ish

There is lots of hype around Doge and Shiba at the moment but these are massively volatile and are akin to pump and dump stocks.

A few people will get very rich on these and for that to happen a lot of people will lose money

Lots of good info on here already but try to only invest what you are willing to lose.

Stop losses can help this but with the more volatile ones even a stop loss of 25 percent might see your investment getting kicked out for a brief but severe dip. (lost 50 quid at the weekend because of this)

Don't leverage any positions either, you could lose WAY more than a grand.

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By *nkforthekinkMan
over a year ago

london/fareham/brighton


"It’s not going to fail

It’s here to stay

"

A few may drop out along the way but I do think this is the next part of our cashless future!

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By *ambertMan
over a year ago

Cheltenham

Been trading for years, its not a get rich quick scheme and has a lot of risks. ETH is on the up and worth holding. Especially if you put it in a binance saving account

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By *rHotNottsMan
over a year ago

Dubai & Nottingham


"It’s not going to fail

It’s here to stay

"

It won’t fail , BTC lost 1/3 of its value in the last 30 days and will probably drop another 1/3 , all the platforms crashed this week even coinbase went offline as the panic to sell sets in, but it won’t fail because there’s always people thinking they can get rich quick happy to lose all thier money

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By *randnew23sumsCouple
over a year ago

Lancashire

We got into it a few months ago. Invested in one called FEG and even with the crash yesterday we're still 50 times up on our original investement. They say it's only going to go higher as well!

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By *rHotNottsMan
over a year ago

Dubai & Nottingham


"We got into it a few months ago. Invested in one called FEG and even with the crash yesterday we're still 50 times up on our original investement. They say it's only going to go higher as well!"

Today you need exactly one billion FEGS to make $1

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By *randnew23sumsCouple
over a year ago

Lancashire

Yup, thats how they work. Got 89 billion of another token that equates to £207. Originally bought £50 worth of that one.

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