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Cryptocurrency

still working on a loss but only small investment for me, but when i do make my millions, what are people doing regarding the wallet thing?

what's the simplfied point and where to go?
 
To be honest, if you are sensible and stick to the most solid of the top 10 or even top 20 coins on coinmarketcap you cant go wrong this year, as everything should go up during this bull run. Obviously there are riskier options for potential huge gains but you can't go wrong with the big boys if you are starting out.
 
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markysimmo said:
Have had some great gains with my little portfolio, obviously wish I had invested more though but I wanted to start small
So far I've made over 55% back on my original investment
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Good stuff mate, I bet you're well chuffed, 55% you can't ask for more than that
 
Diamond Lights said:
still working on a loss but only small investment for me, but when i do make my millions, what are people doing regarding the wallet thing?

what's the simplfied point and where to go?
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Depends on what you objectives are, if its to take the money out then find an exchange with the lowest GBP conversion and extraction fees and transfer the dosh straight into your offshore account (Coinbase Pro will charge 0.08% between $1 and $10m all the way down to 0.04% if you are moving more that $0.5b :))

Also moving between exchanges is normally free but if you fudge up you loose the money, there is no safety net. Go on ask me how I know:oops:
 
Small time investeur here! I bought 0.0241 bitcoin 3 years ago, paid £300 or so, nearly up to £900 now. What to do? Sell half and buy in when it plummets?
 
So I'm going to become a sheep and have a dabble, likely some XRP going by the chat on here. I can see 2 exchanges called Kraken and Bitstamp seem to do them but are they reliable on is there any other recommendations for something easy to use with low fees (ideally pounds) that isn't going to disappear overnight?
 
P.D. said:
So I'm going to become a sheep and have a dabble, likely some XRP going by the chat on here. I can see 2 exchanges called Kraken and Bitstamp seem to do them but are they reliable on is there any other recommendations for something easy to use with low fees (ideally pounds) that isn't going to disappear overnight?
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Ethereum.

Long hold would be stellar.
 
P.D. said:
Sorry I meant which exchange is good to use that's reliable with low transaction fees - looks like Kraken and Bitstamp have good reputations but you hear a lot of horror stories. Any feedback on them?
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I use Bitstamp and they can seem a bit flaky at times, the other day I moved some BTC from coinbase pro to them and it should have taken seconds, instead it took nearly an hour, saying that I do put my long hold stuff in there.

Never used Kraken, so can't comment,

For GBP conversions and daily trades I use Coinbase Pro, look at their Make/Take rates, they are at least as good and sometime better than BitStamp

For the wacky stuff I use Crypto.com

Depending on how much you are trading, all of these have a daily limit, but I personally have never hit it
 
P.D. said:
Sorry I meant which exchange is good to use that's reliable with low transaction fees - looks like Kraken and Bitstamp have good reputations but you hear a lot of horror stories. Any feedback on them?
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Kraken is ok. Coinbase pro is probably your best fit mate.
 
NoLimits01 said:
I use Bitstamp and they can seem a bit flaky at times, the other day I moved some BTC from coinbase pro to them and it should have taken seconds, instead it took nearly an hour, saying that I do put my long hold stuff in there.

Never used Kraken, so can't comment,

For GBP conversions and daily trades I use Coinbase Pro, look at their Make/Take rates, they are at least as good and sometime better than BitStamp

For the wacky stuff I use Crypto.com

Depending on how much you are trading, all of these have a daily limit, but I personally have never hit it
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Danishfurniturelover said:
Kraken is ok. Coinbase pro is probably your best fit mate.
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Thanks both, I looked at Coinbase Pro but you can't buy XRP on there (assume it's a US exchange) so set up a Bitstamp account. It looks like the fees are the same for a trade (0.5%) unless you do inidivual trades over 10K which I won't be.

Bought a small amount of XRP to test the waters, I'm sure you lose a bit in the exchange rate buying in pounds but find it easiet sticking to GBP. Decent sign up process but UI there is a bit clunky, think I'm used to traditional stocks where you see the increase but looks like you Crypto boys transfer from 1 crypto to another so you don't seem to see a profit/loss section on your trades.

I'll do a bit more research on some and get some more soon.
 
Another tip if you are starting out is to download an app for tracking your portfolio. The most popular are Blockfolio and Coinstats*. You can just download to your phone and enter what you have and how much etc. and you can check it 100 times a day like I do!

*Might be newer ones out now but these are the most popular
 
It does all feel a bit clunky and like the wild west, where your 'coins' could disappear into the ether overnight or be hacked like dogecoin back in the day or simply lose the wallet or blockchain password thingy or whatever... I guess that is the whole point, if it was all stable and reliable it wouldn't be so volatile and likely to surge up or down.

Feels like 20 years ago when people were using Altavista and Ask Jeeves and Yahoo and CLEARLY they were utterly brick and I was telling people to use Google and Hotmail and stuff... but I guess I am waiting for someone to stand out like Google did.
 
Amazing how much power he has, was going to buy some more Ripple and Stella but they've gone up a bit too, I'll wait till the dust settles. I got some Ripple at 28p last week, hoping they get back to that level.
 
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