Crypto Dabble.

edited 13 September 2021 at 7:14PM in Savings & Investments
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DandytfDandytf Forumite
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edited 13 September 2021 at 7:14PM in Savings & Investments
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. 
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  • csgohan4csgohan4 Forumite
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    hope you like to sleep well at night, don't invest what you can't afford to lose.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • TimSynthsTimSynths Forumite
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    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. 
  • edited 13 September 2021 at 7:50PM
    CusCus Forumite
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    edited 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..
  • edited 13 September 2021 at 8:24PM
    DandytfDandytf Forumite
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    edited 13 September 2021 at 8:24PM
    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
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  • 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.
  • DandytfDandytf Forumite
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    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.
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  • london21london21 Forumite
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    I will stay clear off crypto, only invest what you are willing to lose. 
  • 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.
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