Crypto Dabble.

Dandytf · 13 September 2021 at 7:10PM

Not sure if I'll see 2 50 uk pounds returned at some point, though have gone ahead with litecoin and Ethereum dabble.

Couldn't wait to try PayPal Crypto, and watch both drop in front of my eyes yesterday evening.
Plan going forward is to build small deposits, to 2.5k per Ethereum purchase.

csgohan4 · 13 September 2021 at 7:41PM

hope you like to sleep well at night, don't invest what you can't afford to lose.

TimSynths · 13 September 2021 at 7:47PM

Dandytf said:

Not sure if I'll see 2 50 uk pounds returned at some point, though have gone ahead with litecoin and Ethereum dabble.

Couldn't wait to try PayPal Crypto, and watch both drop in front of my eyes yesterday evening.
Plan going forward is to build small deposits, to 2.5k per Ethereum purchase.

Enjoy it! I've been in since NY's day, up about 30% overall but there has been some wild rides, at one point in May I was +100%. Haven't spent any money since May and am quite happy just leaving it there for a while. Have invested in a project that could see me quitting work, although at the moment it's had the shirt off my back- but it has been great fun. I don't think you will go wrong with ETH.

Cus · 13 September 2021 at 7:50PM

I've gone in a little very recently. With my skills that means the bubble has reached maximum size and I was the straw that broke it..

tebbins · 13 September 2021 at 8:01PM

Dandytf said:

Not sure if I'll see 2 50 uk pounds returned at some point, though have gone ahead with litecoin and Ethereum dabble.

Couldn't wait to try PayPal Crypto, and watch both drop in front of my eyes yesterday evening.
Plan going forward is to build small deposits, to 2.5k per Ethereum purchase.

The fact you've gone from Help2Save, to Crypto in the space of 3 years is worrying. I've highlighted in bold a few things in your post I found particularly concerning - the fact you couldn't wait, the fact you watched your losses possibly in real-time, and the fact you are thinking in terms of just getting your original money back.

Unfortunately the forum has been overrun by a certain number of Cryptomaniacs lately (none of the posters on this thread so far, but one's name is beautifully ironic given they like to post about how we're in the endtimes) who are incapable of hearing any opinion other than one they like. Aside from them, there are a few forum heavyweights who dabble in crypto as a tiny% of their portfolio.

If you have a problem with gambling, and if that contributed to you qualifying for Help2Save, you should avoid crypto as if it were gambling.

Dandytf · 13 September 2021 at 8:23PM

thanks mser's

quite positive responses tonight, appreciated.
Nice help2save reminder, another enjoyment until March 22' - safe from Crypto for time being.

Hopefully PayPal avoids any bank detail scams, though I wonder if 'unregulated' Crypto could be concerning.
No idea which trend each will follow, no doubt it'll add funds at my own convenience.

p.s. my own thoughts last night were Alibaba/AliPay etc under those new App competition Rules could have impacted Crypto.

thanks

maxsteam · 13 September 2021 at 11:10PM

As a minimum, please learn what is meant by the trading spread (or bid/offer spread) before your next trade. This is a cost that can take a chunk of your money.

Dandytf · 14 September 2021 at 5:56AM

maxsteam said:

As a minimum, please learn what is meant by the trading spread (or bid/offer spread) before your next trade. This is a cost that can take a chunk of your money.

When Lambo.

Sustained period of time when crypto increases in value.

thanks maxsteam,i'll read over your points tonight.

london21 · 14 September 2021 at 9:22AM

I will stay clear off crypto, only invest what you are willing to lose.

tebbins · 14 September 2021 at 10:59AM

Dandytf said:

maxsteam said:

As a minimum, please learn what is meant by the trading spread (or bid/offer spread) before your next trade. This is a cost that can take a chunk of your money.

When Lambo.

Sustained period of time when crypto increases in value.

thanks maxsteam,i'll read over your points tonight.

I'm struggling to follow what you mean. Are you saying you believe that cryptocurrencies "necessarily" increase in value in the same way that stock markets tend to drift up over time? Cryptos are worth whatever someone in future is willing to pay for them, there is nothing else making them grow in value like the underlying earnings of companies in a stock market.

maxsteam · 14 September 2021 at 11:14AM

tebbins said:

Dandytf said:

maxsteam said:

As a minimum, please learn what is meant by the trading spread (or bid/offer spread) before your next trade. This is a cost that can take a chunk of your money.

When Lambo.

Sustained period of time when crypto increases in value.

thanks maxsteam,i'll read over your points tonight.

I'm struggling to follow what you mean. Are you saying you believe that cryptocurrencies "necessarily" increase in value in the same way that stock markets tend to drift up over time? Cryptos are worth whatever someone in future is willing to pay for them, there is nothing else making them grow in value like the underlying earnings of companies in a stock market.

I am simply saying: look at the spread. If I trade in a market index on one platform, I immediately lose 0.015% of my funds because of the spread. If I trade in a cryptocurrency on the same platform, I immediately lose 1% of my funds because of the spread. Some platforms are more expensive. You may be happy with the spreads on your particular platform but you should be aware of it.

MSE Forum

Crypto Dabble.

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