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  • FIRST POST
    • Karmo
    • By Karmo 15th Jul 17, 3:56 PM
    • 16Posts
    • 2Thanks
    Karmo
    Buying Cryptocurrency
    • #1
    • 15th Jul 17, 3:56 PM
    Buying Cryptocurrency 15th Jul 17 at 3:56 PM
    I was going to buy a flat to rent out for 50,000 pounds but as I have never purchased property before and am overseas it may be rather complicated . So then I asked on here and some kind folks recommended I open a S and S ISA for less hassle and the same profit , possibly .
    Then I saw an ad to buy crypto currency , Etherium in particular . The gist of the article was that this currency is about to take off and can give a 1000% investment and in fact gave statistics to prove that is what has been happening the last few months .
    Can anyone shed some realistic light on the cryptocurrency investment market . Bitcoin, Ripple etc ?
    Thank you
    Last edited by Karmo; 15-07-2017 at 3:57 PM. Reason: typo
Page 1
    • colsten
    • By colsten 15th Jul 17, 4:15 PM
    • 8,721 Posts
    • 7,382 Thanks
    colsten
    • #2
    • 15th Jul 17, 4:15 PM
    • #2
    • 15th Jul 17, 4:15 PM
    I am afraid, you have been given bad advice. You cannot have any ISA is you are not a UK resident.

    As to cyrptocurrency: there are 2 fundamental truisms you should never forget:
    1. past performance is no indicator for future performance
    2. if it sounds too good to be true, it probably is

    I would be wary of anyone who describes cryptocurrencies as investments.
    • badger09
    • By badger09 15th Jul 17, 5:21 PM
    • 5,123 Posts
    • 4,338 Thanks
    badger09
    • #3
    • 15th Jul 17, 5:21 PM
    • #3
    • 15th Jul 17, 5:21 PM
    I am afraid, you have been given bad advice. You cannot have any ISA is you are not a UK resident.

    As to cyrptocurrency: there are 2 fundamental truisms you should never forget:
    1. past performance is no indicator for future performance
    2. if it sounds too good to be true, it probably is

    I would be wary of anyone who describes cryptocurrencies as investments.
    Originally posted by colsten
    In fact OP has been given some good advice, but chooses to ignore much of it

    see posts 12, 13 & 15 (among others)
    http://forums.moneysavingexpert.com/showthread.php?p=72676929#post72676929
    • fwor
    • By fwor 15th Jul 17, 9:52 PM
    • 5,860 Posts
    • 3,918 Thanks
    fwor
    • #4
    • 15th Jul 17, 9:52 PM
    • #4
    • 15th Jul 17, 9:52 PM
    If you have any concerns about the integrity and security of Etherium, and how safe you money is likely to be (or not), have a read of this analysis of what happened to it around a year ago:

    https://www.bloomberg.com/features/2017-the-ether-thief/

    There are hints in the article that there may be other, similar, surprises yet to come...
    • Geoff1963
    • By Geoff1963 15th Jul 17, 10:11 PM
    • 1,058 Posts
    • 668 Thanks
    Geoff1963
    • #5
    • 15th Jul 17, 10:11 PM
    • #5
    • 15th Jul 17, 10:11 PM
    Cryptocurrencies are useful for paying off ransomware "suppliers", although there's no guarantee that will unlock your files. I wouldn't make a heavy investment in them.
    • FatherAbraham
    • By FatherAbraham 15th Jul 17, 10:11 PM
    • 737 Posts
    • 561 Thanks
    FatherAbraham
    • #6
    • 15th Jul 17, 10:11 PM
    • #6
    • 15th Jul 17, 10:11 PM
    It's relatively easy to buy fashionable assets such as cryptocurrencies, which can be compared to physical gold.

    The enterprise tends to become more "interesting" when one wants to sell such assets.

    Warmest regards,
    FA
    • Karmo
    • By Karmo 16th Jul 17, 7:15 AM
    • 16 Posts
    • 2 Thanks
    Karmo
    • #7
    • 16th Jul 17, 7:15 AM
    • #7
    • 16th Jul 17, 7:15 AM
    Thank you but FYI I have not ignored it . I am poised to buy 50,000 pounds of vanguard life strategy products the 20 % equity portfolio which is lower risk .
    • buglawton
    • By buglawton 16th Jul 17, 7:44 AM
    • 6,885 Posts
    • 3,129 Thanks
    buglawton
    • #8
    • 16th Jul 17, 7:44 AM
    • #8
    • 16th Jul 17, 7:44 AM
    I was going to buy a flat to rent out for 50,000 pounds but as I have never purchased property before and am overseas it may be rather complicated . So then I asked on here and some kind folks recommended I open a S and S ISA for less hassle and the same profit , possibly .
    Then I saw an ad to buy crypto currency , Etherium in particular . The gist of the article was that this currency is about to take off and can give a 1000% investment and in fact gave statistics to prove that is what has been happening the last few months .
    Can anyone shed some realistic light on the cryptocurrency investment market . Bitcoin, Ripple etc ?
    Thank you
    Originally posted by Karmo
    It's not the complication of buying a flat that's the issue, it's the fact that £50,000 won't buy a flat worth having.
    • greenglide
    • By greenglide 16th Jul 17, 9:58 AM
    • 2,841 Posts
    • 1,820 Thanks
    greenglide
    • #9
    • 16th Jul 17, 9:58 AM
    • #9
    • 16th Jul 17, 9:58 AM
    , it's the fact that £50,000 won't buy a flat worth having.
    There are plenty of areas where £50,000 will buy you a flat, with change.

    The properties will be variable in quality but most definitely liveable providing you choose carefully.

    We don't all live in the south east! (Other expensive areas are available as well).
    • badger09
    • By badger09 16th Jul 17, 10:58 AM
    • 5,123 Posts
    • 4,338 Thanks
    badger09
    Thank you but FYI I have not ignored it . I am poised to buy 50,000 pounds of vanguard life strategy products the 20 % equity portfolio which is lower risk .
    Originally posted by Karmo
    You may not have ignored it but you didn't acknowledge it
    • ToeTLegit
    • By ToeTLegit 16th Jul 17, 1:22 PM
    • 1 Posts
    • 0 Thanks
    ToeTLegit
    Smart move! Now is a good time to buy as the prices are falling. You should definitely, definitely be leaping in with both feet.

    Why not send me cash so I can send you lots of cryptocurrencies in return?

    I've even set up a wallet for you to keep it in: 0x30e6b85CDC276719078D0686612052f0672c732D

    Share this address with all your new crypto friends, neighbors and elderly relatives so they can easily send you Bitcoin, Bytecoin, Iconomi, Ark, Bytemiark's and all other new and exciting investment opportunities.

    See you in the first class cabin of our very own gold-plated concord!
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