CryptoCurrency Exchange for UK

[Deleted User]

Sir_Robin wrote: »

I just bought my first bitcoin and went with Coinbase. Very easy to use, you do need to supply I.D when signing up to comply with money laundering laws etc but it seems that is standard for reputable exchanges

They’ve just brought out a Coinbase debit card now for the Uk. Automatically converts your coin to £ you pay through the nose in transaction fees though.

Just don’t buy it with a CC like I did as the bank treated it as a cash withdrawal and stung me with a fee.

Coinbase is easiest of them all, especially comparing to three UK-operating businessess I've mentioned earlier, however, it's fees are highest. And Bitcoin is up again:T

A_DMP_Vetereran

Use coinbase for the linking to bank account and wallet and then use coinbase pro for the exchange side of things. Gets you around the fees that coinbase charge for exchanging.

Both ran by the same company and actually your accounts are linked. I didn't quite understand why one has extortionate fees and not the other until I realised that the main coinbase is just making it easier for crypto newbies and charging a premium for doing so

[Deleted User]

Yep. Many doesn't even know about Coinbase Pro behind normal Coinbase. They are upselling their product very effectively, no wonder they just recently reported a billion USD profit for last tax year:mad::rotfl:

Chino

pioruns wrote: »

no wonder they just recently reported a billion USD profit for last tax year:mad::rotfl:

You may be confusing revenue and profit. According to this article, in 2018 Coinbase made a profit just shy of US$250 million.

short_butt_sweet

well, i'm shocked that they're recording their revenue and profits in US$, not in BTC! ... do they know something we don't?

[Deleted User]

Chino wrote: »

You may be confusing revenue and profit. According to this article, in 2018 Coinbase made a profit just shy of US$250 million.

You must be right, I've just briefly seen headlines and announcements, didn't paid too much attention to it:cheesy: It's still valid though, that they have very high fees, earning huge amount of money, but still one of the most easiest to use platforms out there.

[Deleted User]

Period Dollar Change Percent Change
Today +$162.60 +3.01% ↑
Last 7 days +$344.62 +6.61% ↑
Last 30 days +$1,565.15 +39.19% ↑
Last 6 months -$875.08 -13.60% ↓
Last 1 year -$3,379.13 -37.81% ↓
Last 2 years +$4,310.96 +345.37% ↑
Last 3 years +$5,106.59 +1,128.32% ↑
Last 5 years +$5,058.92 +1,011.26% ↑
Last 7 years +$5,554.08 +108,941.88% ↑


I just found nice breakdown of Bitcoin investment P/L over the years. Impressive

james_09

pioruns wrote: »

Period Dollar Change Percent Change
Today +$162.60 +3.01% ↑
Last 7 days +$344.62 +6.61% ↑
Last 30 days +$1,565.15 +39.19% ↑
Last 6 months -$875.08 -13.60% ↓
Last 1 year -$3,379.13 -37.81% ↓
Last 2 years +$4,310.96 +345.37% ↑
Last 3 years +$5,106.59 +1,128.32% ↑
Last 5 years +$5,058.92 +1,011.26% ↑
Last 7 years +$5,554.08 +108,941.88% ↑


I just found nice breakdown of Bitcoin investment P/L over the years. Impressive

Your time frame misses the peak of the last bubble at a time when the largest number of private individuals were buying bitcoin. Take December 17 as your start date and today you could be sitting on a loss of over 70%.

Bought bitcoin at any period between October 17 and November 18? You are sitting on a loss.

Going back over two years and yes the gains are impressive, but it was a time when bitcoin was in its infancy and very much under the public radar. That is not where we are now.

eskbanker

james_09 wrote: »

Your time frame misses the peak of the last bubble at a time when the largest number of private individuals were buying bitcoin. Take December 17 as your start date and today you could be sitting on a loss of over 70%.

Bought bitcoin at any period between October 17 and November 18? You are sitting on a loss.

Going back over two years and yes the gains are impressive, but it was a time when bitcoin was in its infancy and very much under the public radar. That is not where we are now.

As ever, a picture is worth a thousand words when it comes to contextualising the recent recovery:

[Deleted User]

james_09 wrote: »

Your time frame misses the peak of the last bubble at a time when the largest number of private individuals were buying bitcoin. Take December 17 as your start date and today you could be sitting on a loss of over 70%.

Bought bitcoin at any period between October 17 and November 18? You are sitting on a loss.

Going back over two years and yes the gains are impressive, but it was a time when bitcoin was in its infancy and very much under the public radar. That is not where we are now.

"My timeframe" here is generic and accurate as we speak. Let's wait then, another 6 months or a year, we will see it then.

Bought bitcoin at any period between October 17 and November 18? You are sitting on a loss.

Not purchasing Bitcoins again (adding to your stake), when they dropped from 20k to 3k USD, is not really smart, mildly said. Anyone who added a bit more BTC to their portfolio, have averaged it down to smaller loss, equal, or soon - a profit already.
I've seen that over and over in the past, when Bitcoin dropped from 1200 to 90 USD, everyone was saying Bitcoin is dead. Seen that even before, when Bitcoin dropped from 32 USD back to 1. Smart people just averaged down. Their results you can see for yourself, by looking at the table you quoted. Now, history repeats itself in the front of our own eyes, and disbelievers are doing exactly the same thing what they were doing then They hating it, instead of buying on the low.:)