Australian (ASX) Stock Market Forum

Bitcoin and cryptocurrency trading thread

I finally delved in and bought some crypto.
Holo, ticker is HOT.
A complete dart throw.
Equivalent of a minimum order on ASX ($500)
Also put $200 into XRP (Ripple) and $200 into TRX (Tron) last night, so total $900 invested.
(I had started with BTG (bitcoin gold) but bailed when I realised the chart that was an each way proposition decided to tumble.
$~30 loss.)

A bit of fun, play money to see how it's all done and works.
I like that it's a 24/7 market, fees aren't too horrendous, currently all in profit. Surprisingly.


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Put 200 into coinspot. Was planning on just buying into one or two coins and leaving it for a few years. Any recommendations
 
Also put $200 into XRP (Ripple) and $200 into TRX (Tron) last night, so total $900 invested.
(I had started with BTG (bitcoin gold) but bailed when I realised the chart that was an each way proposition decided to tumble.
$~30 loss.)

A bit of fun, play money to see how it's all done and works.
I like that it's a 24/7 market, fees aren't too horrendous, currently all in profit. Surprisingly.


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the 24/7 market is a great thing, anytime anywhere. The fees are so so pretty much the same as my cmc markets for asx, swyftx seems to increase the fee as your order larger too
 

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Liger Coin?
For someone as young as you Licenced Investment Company Argo ect take there share offer no matter the price. Bank shares when they are at a discount tick reinvestment plan hold forever. The reward early retirement. KIS
If I could tell my younger self any one thing it would be this.
 
Put 200 into coinspot. Was planning on just buying into one or two coins and leaving it for a few years. Any recommendations
There's no recomendations.

You may want to check out world rankings by market cap and see what investing.com have in their standard crypto list.
About 20 to chose from I believe.
(They may be in order of market cap on investing.com- dunno though, haven't checked.)

They all have pros and cons. Probably more cons though on most. Some are probably outright cons.

Some crypto's are basing their technology on ETH (Etherium) platform.

XRP (Ripple) platform supported by some banks etc

TRX (Tron) etc
VE Chain etc
Monaro etc

"My Neighbour Alice", yes, it's a cryptocurrency... it really starts getting weird as there is over 3000 cryptocurrencies, and growing.

Personally, I am avoiding bitcoin as it's coming under environmental scrutiny, as will others, if bitcoin gets hit hard from it.
Good luck.
PS: the LIC thing explained.
 
My Neighbour Alice", yes, it's a cryptocurrency... it really starts getting weird as there is over 3000 cryptocurrencies, and growing.

Crazy man. Don't need to smoke any wacky baccy these days. Just get into Alice's Restaurants gear. :laugh:
It's not the same but this world wide craze punting crypto currency remninds me of the insanity in the 1923 Wiemar Republic when there was hyper inflation and the the biggest game in town was gambling on the crashing Mark as well as innumerable gambling dens.
 
In 2019, Mr Musk articulated that Bitcoin's structure was magnificent, but it was not a right fit for Tesla and inu asx share price.
In a complete U-turn, Tesla has now confirmed that it invested US$ 1.5 billion in bitcoin and will also accept it as payment for the electric vehicle (EV) cars.
 
In 2019, Mr Musk articulated that Bitcoin's structure was magnificent, but it was not a right fit for Tesla and inu asx share price.
In a complete U-turn, Tesla has now confirmed that it invested US$ 1.5 billion in bitcoin and will also accept it as payment for the electric vehicle (EV) cars. Be

Hang on, isn’t that old news, and hasn’t Tesla already changed their mind and withdrawn from accepting payments in Bitcoin?

As a Tesla shareholder I wish they would steer clear of this stuff.
 
Put 200 into coinspot. Was planning on just buying into one or two coins and leaving it for a few years. Any recommendations
There is nothing wrong with gambling on crypto, as long as you understand that you are gambling, and not investing.

Almost all of these coins are going to be worthless in the future, you would be best sticking to your index fund strategy, that way you are accumulating actual real world assets of value eg Land, factories, buildings, businesses, brand etc, rather than gambling on this fairy dust stuff hoping a bigger fool will come along and pay you more for these fake coins than you bought them for.

At the end of the day, if a crypto did become the main currency, the businesses you own in the index would begin accepting it as payment, and sending it to you as dividends.
 
There is nothing wrong with gambling on crypto, as long as you understand that you are gambling, and not investing.

Almost all of these coins are going to be worthless in the future, you would be best sticking to your index fund strategy, that way you are accumulating actual real world assets of value eg Land, factories, buildings, businesses, brand etc, rather than gambling on this fairy dust stuff hoping a bigger fool will come along and pay you more for these fake coins than you bought them for.

At the end of the day, if a crypto did become the main currency, the businesses you own in the index would begin accepting it as payment, and sending it to you as dividends.
Crypto has proven itself to be the trade of the century. Nothing compares.
 
There is nothing wrong with gambling on crypto, as long as you understand that you are gambling, and not investing.

Almost all of these coins are going to be worthless in the future, you would be best sticking to your index fund strategy, that way you are accumulating actual real world assets of value eg Land, factories, buildings, businesses, brand etc, rather than gambling on this fairy dust stuff hoping a bigger fool will come along and pay you more for these fake coins than you bought them for.

At the end of the day, if a crypto did become the main currency, the businesses you own in the index would begin accepting it as payment, and sending it to you as dividends.
Actually you are well mis informed unfortunately.
I recommend to dyor. But block chain technologies is taught at all universities including M.i.t.
And yes there is some ponzi coins , but you need to DYOR on any investments.
To say all these coins are worthless shows me the lack or misguided information you have on blockchain.
 
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