Crypto regrets

la531983

jim1999 said:

I've always been able to make payments to Crypto.com with any of my accounts.

All the usual caveats apply - don't invest what you can't afford to lose, prepare to wait a long time to see a return etc

The fees to buy and send on that site are some of the highest around. Best avoided. 

PoGee

Scottex99 said:

PoGee said:

What are views on Swissborg?

Very solid, I’ve had an account since 2018. 

Legit and I’ve never had an issue. Fairly innovative with different types of products too and nice UX/UI

Aren't the fees a bit high? That's why I liked binance. Think it's 1.5% with swissborg and was maybe 0.3% with binance

jim1999

la531983 said:

jim1999 said:

I've always been able to make payments to Crypto.com with any of my accounts.

All the usual caveats apply - don't invest what you can't afford to lose, prepare to wait a long time to see a return etc

The fees to buy and send on that site are some of the highest around. Best avoided. 

IMO to buy and hold it's reasonable.  Also there's a difference between app and exchange in terms of fees.  They've put a lot more effort into regulatory compliance and the backend stuff than some of the other operators out there, which I think counts for something.

Albermarle

PoGee said:

I dabbled in crypto around 2023. Tiny amounts initially but when I had the courage to go big, my bank 'S' stopped payments to binance. I instead invested in property, which resulted in a loss....
Are there any low fee crypto platforms where I can start again, that won't be blocked by my bank? Have I missed the boat or is it still worthwhile investing in crypto? 
I'm thinking of putting £40k into premium bonds but the crypto lure is still there.

I think you need to look at your overall financial strategy.
You say you are looking at Crypto or Premium Bonds ( two ends of a very large spectrum) . You have invested in property and are looking at buying Whisky barrels ( and industry blighted by scams).

What is wrong with finding a balance in the middle with mainstream stocks and shares?

MEM62

PoGee said:

I dabbled in crypto around 2023. Tiny amounts initially but when I had the courage to go big, my bank 'S' stopped payments to binance. I instead invested in property, which resulted in a loss....
Are there any low fee crypto platforms where I can start again, that won't be blocked by my bank? Have I missed the boat or is it still worthwhile investing in crypto? 
I'm thinking of putting £40k into premium bonds but the crypto lure is still there.

Premium Bonds have just reduced the return in prizes from 3.8 to 3.6%. You can get a batter return elsewhere unless, of course, you get lucky.  In my opinion, you do not invest in Crypto - you gamble on it.  But then, I do not put my money in something that I do not understand and I certainly do not understand Crypto.  How something with a value that can soar or plummet based on one social media comment from the likes of Trump or Musk can be seen as an 'investment' is beyond me. As you have highlighted both of these as the preferred places to put your money you are obviously not adverse to higher risk.  In that case, fill your boots but ensure that you finances are sufficiently robust to deal with the downside.      

 

pecunianonolet

ThePirates said:

PoGee said:

Hi Brie - I went down that route also but buying bottles of whisky/ gin. Single malts. Might buy a barrel 

Single Malt (or Grain) to drink but never invest, no one makes money from it. 

Maybe you don't understand the category well enough to make money in it when othes do, including myself?

Brie

pecunianonolet said:

ThePirates said:

PoGee said:

Hi Brie - I went down that route also but buying bottles of whisky/ gin. Single malts. Might buy a barrel 

Single Malt (or Grain) to drink but never invest, no one makes money from it. 

Maybe you don't understand the category well enough to make money in it when othes do, including myself?

I'm wary of investing in whisky or gin if it is actually buying the product to hold and sell later.  Like art, tastes change.  Everyone might love gin now but the market for drinking it is well saturated.  But buying shares in a company is different as one would expect they are planning ahead to maximise their profits and it's the profits in the company that I'm after.  Which is why I bought shares in a brewing company. 

I'm also very wary of anything that pops up on my internet feed featuring buxom young ladies suggesting that an investment is a great idea.  Barrels of whisky investments always seem to have these ads so I wonder what the actual sell is - certificates in something that may or may not exist?  And possibly no FCA affiliation of any sort?   

jefaz07

I use Kraken for my crypto dealings. I had no issues depositing money from my First Direct account. NatWest wouldn’t allow it so had to move funds to FD first. 

There is a limit daily though. 

Crypto is flying at the moment. 40k would’ve given you a very good return this week. 

wmb194

PoGee said:

Hi Brie - I went down that route also but buying bottles of whisky/ gin. Single malts. Might buy a barrel 

A more conventional and lower risk way to invest in a brewery or distillery would be to buy shares in e.g., Heineken, Diageo and Carlsberg.

Albermarle

Brie said:

pecunianonolet said:

ThePirates said:

PoGee said:

Hi Brie - I went down that route also but buying bottles of whisky/ gin. Single malts. Might buy a barrel 

Single Malt (or Grain) to drink but never invest, no one makes money from it. 

Maybe you don't understand the category well enough to make money in it when othes do, including myself?

I'm wary of investing in whisky or gin if it is actually buying the product to hold and sell later.  Like art, tastes change.  Everyone might love gin now but the market for drinking it is well saturated.  But buying shares in a company is different as one would expect they are planning ahead to maximise their profits and it's the profits in the company that I'm after.  Which is why I bought shares in a brewing company. 

I'm also very wary of anything that pops up on my internet feed featuring buxom young ladies suggesting that an investment is a great idea.  Barrels of whisky investments always seem to have these ads so I wonder what the actual sell is - certificates in something that may or may not exist?  And possibly no FCA affiliation of any sort?   

There are legitimate companies where you can buy casks of good quality whisky, and store them/sell them later.

However there are also a number of dodgy operators ( probably the ones advertising a lot using buxom women) where there are lots of issues with overcharging, barrels that do not actually exist etc.