Who's invested in Cryptocurrency

13567…13

Comments

  • hildosaver
    hildosaver Posts: 360 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    dealer_wins wrote: »
    I prefer to by jars of air, at least Ive got something for my money ie jars!


    That's cool - we will just continue to make crazy gains while you sit and do that.
    I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
  • ivormonee
    ivormonee Posts: 395 Forumite
    Name Dropper First Anniversary First Post
    hildosaver wrote: »
    That's cool - we will just continue to make crazy gains while you sit and do that.

    That's cool - we will sit and do that while you just continue to take crazy risks.
  • Randy
    Randy Posts: 210 Forumite
    First Post First Anniversary Combo Breaker
    Me.. was sick of making a pathetic 1.5% with Santander.. invested 10% of my savings into 16 different crypto coins. (60% bitcoin). I've managed to turn £3.2k into £4.6k in 2 months.

    That includes an absolute disastrous decision I made involving Litecoin and Ethereum which would of meant that £4.6k would now be about £5.5k
  • Aegis
    Aegis Posts: 5,688 Forumite
    Name Dropper First Post First Anniversary
    Randy wrote: »
    Me.. was sick of making a pathetic 1.5% with Santander.. invested 10% of my savings into 16 different crypto coins. (60% bitcoin). I've managed to turn £3.2k into £4.6k in 2 months.

    That includes an absolute disastrous decision I made involving Litecoin and Ethereum which would of meant that £4.6k would now be about £5.5k
    Just be careful. You've gone from zero investment risk to "off the scale" risk, which is a huge step. If your £4.6k turns into £460 because the bubble bursts, you may well miss the 1.5% you could have had from Santander.

    Make sure you can afford huge losses before buying into speculative assets
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Randy
    Randy Posts: 210 Forumite
    First Post First Anniversary Combo Breaker
    Aegis wrote: »
    Just be careful. You've gone from zero investment risk to "off the scale" risk, which is a huge step. If your £4.6k turns into £460 because the bubble bursts, you may well miss the 1.5% you could have had from Santander.

    Make sure you can afford huge losses before buying into speculative assets

    That's why I only invested 10%. I very much doubt they will crash back to November 2017 level. Even the whales won't want it that cheap.
  • ivormonee
    ivormonee Posts: 395 Forumite
    Name Dropper First Anniversary First Post
    It's still not as bad as it would be trading in a leveraged account. At least any potential losses would be limited to the amount invested!

    Of course, we don't know if prices will continue to go up or if they will go down. Same as any investment or speculation. You calculate your risks and, if they fall within your chosen parameters, you take those risks to secure better returns at the expense of those greater volatilities.
  • PEHsaver
    PEHsaver Posts: 21 Forumite
    Invested just over £500 to have a dabble. My investment is mixed between XRP , Bitcoin & Etherium. I think I bought at a bad time so am currently out of pocket since the dip, but I am in it for the long term to see what comes of it all. Should be interesting!
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    edited 13 January 2018 at 10:45PM
    i'm looking to have a dabble in CCs this year.
    ChesterDog wrote: »
    If it rises to five times what I paid for it, then I intend to convert a fifth back into sterling to recover my initial stake.

    i like that strategy. one of my colleagues uses a similar strategy with virtually everything he touches.. he has a substantial portfolio which i merrily tells us was "FOC".
    ChesterDog wrote: »
    I have lots of investments. This isn't one. This is just an interesting game.

    nice position to be in:D.
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    ivormonee wrote: »
    That's cool - we will sit and do that while you just continue to take crazy risks.

    ...but you are looking to get into CCs according to this thread, which i started re. which exchanges folk here recommend:

    http://forums.moneysavingexpert.com/showthread.php?t=5763731
  • firestone
    firestone Posts: 520 Forumite
    Name Dropper First Post First Anniversary
    Randy wrote: »
    That's why I only invested 10%. I very much doubt they will crash back to November 2017 level. Even the whales won't want it that cheap.
    i would be worried if someone as you seem to suggest i.e whales can control the price - but good luck anyway
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards