BITCOIN

Scottex99

ETH 2.0 doesn’t exist yet, it’s in the pipeline, so buy ETH

onthebench

P1 said:

deejaybee said:

Hi,

I'm considering dipping my toe into Bitcoin..

I live in a small market town in DEvon, and funny enough they have had a Bitcoin ATM in the local Tourist office since 2018 ish.

I popped in there today to ask some questions,they could only give me some basics, as it is actually operated by "ALPHAVEND"

They told me i needed to have a Bitcoin wallet, so that i could scan a QR code, then follow on-screen instructions and basically feed it banknotes. Its currently set at £100 minimum , and there is a £5 charge per transaction - i'm not sure whether there is a seperate % commission fee..

The manageress said that someone bought ONE Bitcoin for £5K back in the day, which must have taken a while to get the notes in.

So, anyone had any dealings/experience with ALPHAVEND ATMs ?  Which wallet would be suitable for use with them ?

Ideally i would keep wallet on my Android mobile.

Thanks

Buying from a bitcoin ATM is a very expensive way of doing it.  Its a lot cheaper to buy off an exchange.  If you are able to use eBay or Amazon you can get an exchange account.  I recommend Bitstamp or Kraken.  

I use Luno. It is totally commission free for market-maker orders on the exchange (ie limit orders that are not filled immediately).
The liquidity is not always brilliant but that can work to your advantage because if there is a bit of a spread you can often get filled at a better price than the "going rate" on other exchanges.

P1

onthebench said:

P1 said:

deejaybee said:

Hi,

I'm considering dipping my toe into Bitcoin..

I live in a small market town in DEvon, and funny enough they have had a Bitcoin ATM in the local Tourist office since 2018 ish.

I popped in there today to ask some questions,they could only give me some basics, as it is actually operated by "ALPHAVEND"

They told me i needed to have a Bitcoin wallet, so that i could scan a QR code, then follow on-screen instructions and basically feed it banknotes. Its currently set at £100 minimum , and there is a £5 charge per transaction - i'm not sure whether there is a seperate % commission fee..

The manageress said that someone bought ONE Bitcoin for £5K back in the day, which must have taken a while to get the notes in.

So, anyone had any dealings/experience with ALPHAVEND ATMs ?  Which wallet would be suitable for use with them ?

Ideally i would keep wallet on my Android mobile.

Thanks

Buying from a bitcoin ATM is a very expensive way of doing it.  Its a lot cheaper to buy off an exchange.  If you are able to use eBay or Amazon you can get an exchange account.  I recommend Bitstamp or Kraken.  

I use Luno. It is totally commission free for market-maker orders on the exchange (ie limit orders that are not filled immediately).
The liquidity is not always brilliant but that can work to your advantage because if there is a bit of a spread you can often get filled at a better price than the "going rate" on other exchanges.

Nothing wrong with using limit orders to purchase!  There are lots of exchanges out there and there is a few in every cycle that gets rugged. I hope you are using cold storage.  FTX is also a good option for UK.  Check the exchange rankings below

https://coinmarketcap.com/rankings/exchanges/

prowla

Well, some years ago I decided to see what this bitcoin thing was about and ended up wasting my spare time doing silly little freebie games and faucets.

Just less than a week ago I was chatting with my son and mentioned I had these old accounts lying around and he suggested having a look at the current state of play of bitcoin and lo-and-behold, they were worth over £2k; I never put a penny into it, it was all from free pastime point & click.

I created a binance account last Friday and I put £100 into it (just to get a feel for it) and also shifted what I could from my old accounts into there, though I seem to have a couple of old accounts I've lost the keyphrases too, so they may be stuck/lost (one has around 600 DOGE in it).

In the past 6 days my value of £2.5k has gone up to £3.4k; that includes the single £100 deposit I made and the rest were freebies (well, my time was the cost).

I had 4000 DOGE coin and I sold 1000 at $0.52 and have another sell order of at $0.75; that will leave me with 2000 there, which I may just let sit.

I decided to have a bit of a play trading some around and I sold 100 DOGE to BTC and used that and some of my BTC balance to buy some ETH, just because I wanted some of them.

So now the status is I've now got £3k+ I didn't know I had. I could cash it all in, I suppose, and take a chunk off my mortgage balance.

Scottex99

prowla said:

Well, some years ago I decided to see what this bitcoin thing was about and ended up wasting my spare time doing silly little freebie games and faucets.

Just less than a week ago I was chatting with my son and mentioned I had these old accounts lying around and he suggested having a look at the current state of play of bitcoin and lo-and-behold, they were worth over £2k; I never put a penny into it, it was all from free pastime point & click.

I created a binance account last Friday and I put £100 into it (just to get a feel for it) and also shifted what I could from my old accounts into there, though I seem to have a couple of old accounts I've lost the keyphrases too, so they may be stuck/lost (one has around 600 DOGE in it).

In the past 6 days my value of £2.5k has gone up to £3.4k; that includes the single £100 deposit I made and the rest were freebies (well, my time was the cost).

I had 4000 DOGE coin and I sold 1000 at $0.52 and have another sell order of at $0.75; that will leave me with 2000 there, which I may just let sit.

I decided to have a bit of a play trading some around and I sold 100 DOGE to BTC and used that and some of my BTC balance to buy some ETH, just because I wanted some of them.

So now the status is I've now got £3k+ I didn't know I had. I could cash it all in, I suppose, and take a chunk off my mortgage balance.

Nice. I wouldn't get too tied to DOGE or any of the other pump and dump retail sh1tcoins. I've got a bag of DOGE but wouldn't say I rate it as a good investment. Inflationary as the community can print an extra 5% of supply per year, possibly more I'm not sure who controls it. It's also pumping because Elon is about to go on SNL. Maybe he has giant bags and just enjoys pumping them?

Always good to take profit, if you dont need the money for anything, I'd buy BTC and ETH and hold them long term.

Cheers

P1

Don't sell the ETH and BTC now.  We could be coming to the last few months of this bull cycle and that is when prices will be more violent.  There is too much chance of upside here.  DOGE is the Boaty Mcboatface of crypto.  Merge mined with LTC so will have relative security I believe, but it is still stupid though. Still $1000 in Jan would have made me $1000000 buy now! It probably will hit $1 at this rate.  Crazy to think in the last few weeks $50bn has been parked in a coin because Elon Musk and dogs face.  

BearWhite

I'm cautious on Crypto so I'm 60% BTC, 30% ETH, then the rest in various smaller cap coins that have done well for me. I wouldn't touch DOGE with a bargepole but fair play to those who have got lucky on it.

onthebench

BearWhite said:

I'm cautious on Crypto so I'm 60% BTC, 30% ETH, then the rest in various smaller cap coins that have done well for me. I wouldn't touch DOGE with a bargepole but fair play to those who have got lucky on it.

I did have a similar mix, BTC, ETH, ADA, but the Cardano has overtaken the Ether as the price has gone from 7p to about £1.10 (unfortunately I only bought a few hundred at the cheapest price!)

CharllieSays

I thought I'd sold all my BTC/ETH. I was planning to sell the rest last autumn, but then got kicked out my job after getting my heart broken, then had a seizure and a bunch of other fun stuff and totally forgot about everything else. Just found an old wallet with about £17k in there! Mini silver lining after two years of hell! I know logically it's my own money, but since I'd forgotten it existed it feels as though someone else has just gifted it to me. I had a few wallets at one point, so now I'm wondering where else I've stashed coins? Yay for early dementia!

Scottex99

CharllieSays said:

I thought I'd sold all my BTC/ETH. I was planning to sell the rest last autumn, but then got kicked out my job after getting my heart broken, then had a seizure and a bunch of other fun stuff and totally forgot about everything else. Just found an old wallet with about £17k in there! Mini silver lining after two years of hell! I know logically it's my own money, but since I'd forgotten it existed it feels as though someone else has just gifted it to me. I had a few wallets at one point, so now I'm wondering where else I've stashed coins? Yay for early dementia!

Haha, class, The unintentional Hodl.
I use Blockfolio and keep it decently up to date but I always spend ETH on random sh*tcoins and forget to track it. But then all the GBP buying I do of coins, I dont track. Sometimes I go through all the wallets and I'm annoyed, sometimes pleasantly surprised.

Just gotta keep stacking those sats.