BITCOIN

User232002

Shocking_Blue said:

To tell you the truth, the seemingly complicated nature of buying/holding BTC. However, have been looking at eToro and they seem to have a consumer-friendly approach. Wondered what opinions were on their 

Crypto CopyPortfolios

https://www.etoro.com/crypto/how-to-invest-in-cryptocurrency/

Fair point. Hard to make any good suggestion here really as I don't know your level of tech knowledge.

I think I'm on the side of recommending new entrants to hold their crypto on something like Binance or Coinbase. View these as an online wallet like Paypal where you can convert fiat to crypto easily. Use Coinbase pro and bank transfer for cheaper fees. There's some reg risk associated with using a centralised exchange (which is why Bitcoiners will usually always recommend self storage) and some hack risk of course too, but its just easier to access and deal with for a new entrant compared to wallets, cold wallets and seed phrases.

I would steer clear of platforms like eToro, RobinHood, Revolut and others. When I last checked a year ago, the custody nature of these platforms is a bit murky and most of them are using things like derivatives to get exposure to the asset on behalf of their customers. In other words, you'll own it on paper but won't ever be able to take custody of the asset (probably not an immediate problem for you, but something to consider for the future should you wish to attempt to generate a yield on them). Have a look in to whether this is still the case as I believe some of them recognised this as an issue and were moving away from that.

In summary, cant see anything horrible with using eToro but can't really recommend their product either.

Aegis

So why continue to post in a crypto thread repeating to everyone that you don't get it? Just leave and go talk about your next IPO with people that care about it.

I had a long reply, but the forum ate it, so instead I'll focus here.  Why do I post?  Because I want people to think about the risks associated with making an investment.  If they fully understand the risks, there's nothing stopping them from deciding that the reward to risk ratio is acceptable for them.  Without contrary opinions like mine, you can end up with an echo chamber that just has people talking about the mammoth returns available without once thinking about where those returns are coming from or any analogies to gambling.

Don't tell me to leave.  You aren't in any position to do so, and while this forum continues to be, in my view, poisoned by crypto bros, I'll continue to provide an alternative view.  I have no intention of going anywhere.

Scottex99

Wrote a explanatory post but deleted it by mistake and cant be bothered to type it out again.

eToro/Robinhood/Revolut - Mainly CFDs not "real" crypto but very easy to trade. Higher Fees.

Coinbase/Binance/Kraken and about 10 others. Load GBP, buy actual coins and leave them in your exchange wallet. If they gp bust, get hacked, steal your coins you have no comeback. With the big exchanges it's black swan unlikely as they make 10s of millions in fees daily already. They wont be stealing £1k of BTC from you anytime soon.

This is tip of the iceberg stuff. Buy some BTC and ETH, read about what they are and see if you want to go down the rabbit hole 

Scottex99

Little snapshot of just DeFi things:

https://defipulse.com/

And also posting this again, anyone with half an open mind should give it a watch:

https://www.youtube.com/watch?v=l5TqlnD1ZSI

silvercue

Maybe some of you guys can agree to disagree.  It is healthy do have different, even opposing, views in a forum.

Seem to be in a cycle of proving the other wrong.  

Aegis

silvercue said:

Maybe some of you guys can agree to disagree.  It is healthy do have different, even opposing, views in a forum.

Seem to be in a cycle of proving the other wrong.  

I don't doubt for a second that it's healthy to have disagreements over investment strategies.  The issue is that I seem to have been on the receiving end of some very unflattering comments, often attacking me rather than addressing the actual questions raised.  That doesn't make for good discussion or information, unless the goal is to drive away any dissenting opinions.

Scottex99

Not really, we all established that we’re not going to agree about 150 pages ago, haha.

Generally it’s just the pro coiners explaining what they like about this new industry and correcting incorrect assumptions from the other side. They think that we shill in order to keep up the “Greater Fool Theory” and we explain that we don’t because any of you buying £10k of BTC right now, has exactly 0 effect on the market.

We could really just all take a break for 2 years and come back and do the i told you so’s then.

But there’s also some decent advice imo for new people getting into the space.

Aegis

Scottex99 said:

Not really, we all established that we’re not going to agree about 150 pages ago, haha.

Generally it’s just the pro coiners explaining what they like about this new industry and correcting incorrect assumptions from the other side. They think that we shill in order to keep up the “Greater Fool Theory” and we explain that we don’t because any you buying £10k of BTC right now, has exactly 0 effect on the market.

We could really just all take a break for 2 years and come back and do the i told you so’s then.

But there’s also some decent advice imo for new people getting into the space.

We disagree, but I think we have some productive conversations.  Clearly we're never going to agree on Greater Fool Theory, but hopefully you have an appreciation for what I'm saying and understand that my questions are designed to at least provoke some introspection into the asset in question.

Shocking_Blue

silvercue said:

Shocking_Blue said:

To tell you the truth, the seemingly complicated nature of buying/holding BTC. However, have been looking at eToro and they seem to have a consumer-friendly approach. Wondered what opinions were on their 

Crypto CopyPortfolios

https://www.etoro.com/crypto/how-to-invest-in-cryptocurrency/

I use eToro.   They are easy to use and good for beginners, no commission.   But, be aware eToro is not the best place for Crypto as they charge a very large spread on any buys you make.  As high as 4% (unless this has changed recently).   They are also more difficult to move and control your crypto if you want to do anything other than simple buy low/sell high.  They also force closed all of my leveraged positions some time ago.  Having said that - they do serve a purpose.   

I own a few crypto positions there, small amount as 99% of my crypto is bought elsewhere, but some of them are currently sitting at 1600% profit.   Feel free to check my portfolio out if you want.  Same username as here. 

Thanks, silvercue,
Yep, it would just be to buy a little and then sell if/for profit at a later date.

darren232002 said:

Shocking_Blue said:

To tell you the truth, the seemingly complicated nature of buying/holding BTC. However, have been looking at eToro and they seem to have a consumer-friendly approach. Wondered what opinions were on their 

Crypto CopyPortfolios

https://www.etoro.com/crypto/how-to-invest-in-cryptocurrency/

Fair point. Hard to make any good suggestion here really as I don't know your level of tech knowledge.

I think I'm on the side of recommending new entrants to hold their crypto on something like Binance or Coinbase. View these as an online wallet like Paypal where you can convert fiat to crypto easily. Use Coinbase pro and bank transfer for cheaper fees. There's some reg risk associated with using a centralised exchange (which is why Bitcoiners will usually always recommend self storage) and some hack risk of course too, but its just easier to access and deal with for a new entrant compared to wallets, cold wallets and seed phrases.

I would steer clear of platforms like eToro, RobinHood, Revolut and others. When I last checked a year ago, the custody nature of these platforms is a bit murky and most of them are using things like derivatives to get exposure to the asset on behalf of their customers. In other words, you'll own it on paper but won't ever be able to take custody of the asset (probably not an immediate problem for you, but something to consider for the future should you wish to attempt to generate a yield on them). Have a look in to whether this is still the case as I believe some of them recognised this as an issue and were moving away from that.

In summary, cant see anything horrible with using eToro but can't really recommend their product either.

Thanks darren232002.

FrankRizzo

darren232002 said:

For example, Eminem recently bought BAYC 9055. Here is the wallet that holds that token: https://etherscan.io/address/0x5d752c35789bdfd1287971972091ba47afd3ac93 You can see that he also owns two ENS domains; rapmusic.eth and virtualweed.eth Funds to buy it came from giorgio.eth and you can follow the link to that address and see what that wallet owns as well.

Cardano explorer here: https://explorer.cardano.org/en Put your wallet address in and play around

Hi, how do you know this is Eminem wallet? How do you tie someone to a wallet? Thanks!