Crypto Currency Thread (Vol.2)

Crypto Currency Thread (Vol.2)

Author
Discussion

halo34

2,176 posts

176 months

Thursday 15th April 2021
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I am tempted to stick a 1k into BNB and use trust wallet 22% APY to balance out any fluctuations in price.

Comacchio

1,398 posts

158 months

Thursday 15th April 2021
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Hold a mix of ADA, VET, ONE & LTO. Currently up 36% since dipping my feet in on 9th March this year.

dirtbiker

910 posts

143 months

Thursday 15th April 2021
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halo34 said:
I am tempted to stick a 1k into BNB and use trust wallet 22% APY to balance out any fluctuations in price.
Think this is probably a good call - Trust Wallet is a bit of a faff to set up but just in the process of moving my BNB there to do some staking...

C n C

2,602 posts

198 months

Thursday 15th April 2021
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Comacchio said:
Hold a mix of ADA, VET, ONE & LTO. Currently up 36% since dipping my feet in on 9th March this year.
Currently have ADA, VET, and DOT, and as even more of a small punt on low valued ones, HOT, DENT and BTT. The last 3 for no other reason that at the time I liked the look of the graphs!

Think I may HODL these and see where they are when this thread reaches 500 pages (probably will have gone to zero)! wobble

halo34

2,176 posts

176 months

Thursday 15th April 2021
quotequote all
dirtbiker said:
Think this is probably a good call - Trust Wallet is a bit of a faff to set up but just in the process of moving my BNB there to do some staking...
Just annoying that Binance doesnt offer that APY as I have to move funds around

g4ry13

13,793 posts

232 months

Thursday 15th April 2021
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Right...i'm getting bored of QTUM.

It's time to think about exit plan and look for something else to dump the money into. I grew a little impatient with LINK although it was such a small holding that i'll be able to sleep about the bit of money I missed out on. I'm a bit concerned about Stellar. It followed XRP (although not by the same sort of %) and when XRP drops, Stellar follows it back down too.

Potential next steps: Trade random alt and make 10-20% / ADA (I looked at them at 30c and don't have the stomach for these prices) / Add to DASH position or cash is king

C n C

2,602 posts

198 months

Thursday 15th April 2021
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Looks like BAND protocol has announced Google Cloud integration.

Went up 20% in an hour. Will be interesting to see the longer term price change.

I don't have any, but a friend does and he's more than a little happy at the moment as his balance has gone north of £1.1M, having been as low as £30k less than a year ago.

ETA Unfortunately, I don't have anywhere near this amount in crypto, but it's still good fun. In fact, I tend to think if I did, it would become a lot less fun and a lot more worrying! smile

Edited by C n C on Thursday 15th April 13:41

Leftfootwonder

1,090 posts

35 months

Thursday 15th April 2021
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I dipped my toe into this murky world yesterday. After doing a fair amount of research I decided to use Binance. Set up was really quick and easy. Only put a small sum to 'play' with on at the moment whilst I try to make more sense of it all, but up 6% in less than 24 hrs so far. I am fully prepared to be down 6% this time tomorrow though! laugh

g4ry13

13,793 posts

232 months

Thursday 15th April 2021
quotequote all
Leftfootwonder said:
I dipped my toe into this murky world yesterday. After doing a fair amount of research I decided to use Binance. Set up was really quick and easy. Only put a small sum to 'play' with on at the moment whilst I try to make more sense of it all, but up 6% in less than 24 hrs so far. I am fully prepared to be down 16% within the next hour
Fixed the above for you wink

Leftfootwonder

1,090 posts

35 months

Thursday 15th April 2021
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g4ry13 said:
Fixed the above for you wink
lol, very true! I have got some ETH and DODGE which I am hoping will be relatively stable. Time will tell.

C n C

2,602 posts

198 months

Thursday 15th April 2021
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g4ry13 said:
Leftfootwonder said:
I dipped my toe into this murky world yesterday. After doing a fair amount of research I decided to use Binance. Set up was really quick and easy. Only put a small sum to 'play' with on at the moment whilst I try to make more sense of it all, but up 6% in less than 24 hrs so far. I am fully prepared to be down 16% within the next hour
Fixed the above for you wink
Yes - you're not wrong!

Having said that, given the Binance trading fees are only 0.1% with a minumum trade size of something like £20, it is completely possible to try out the whole process with very small amounts to learn how it all works - something that was never possible (for example) if you wanted to dabble in the stock market, due to minimum fees of £5 or £10 per trade with most (all?) the brokers.

digger_R

1,737 posts

183 months

Thursday 15th April 2021
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buy WIN and sell in approx 2-3 weeks, easy money

MrChips

3,247 posts

187 months

Thursday 15th April 2021
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I've only been in for 3 weeks so thought i'd share my initial thoughts. I've bought a few £k worth of BTC, ETH and ADA and locked them away on a Trezor to stop me checking them every 5mins. Plan is to keep them until next year as a minimum.

Been using Kraken so far and finding it a good app overall, and fairly intuitive once you've understood the options for placing limit orders, stop losses etc.
I'm now holding a little bit of GRT and FIL and kept this in my kraken account as well as £500 with a view of trading some each week, but am still getting my head around the candlestick charts, how to interpret them and when to spot potential opportunities. I'd placed an order for DOT but it's never dropped back down to around £25 so that's still open.

I'm going to sign up for Binance this weekend.

My overwhelming impression here as a newbie is that a lot of the Youtube channels are pretty good at explaining what has happened, either recently or over the past months/years, but never really why it's happened. It's a lot of statistical analysis that seems to always assume that the same pattern will keep repeating over and over again. Gut feel says this may stay true until Crypto really hits the maintstream, as it's still overly complex and tiresome to buy in for an average Joe?

Any recommendations for youtube channels to keep an eye on?

g4ry13

13,793 posts

232 months

Thursday 15th April 2021
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Leftfootwonder said:
g4ry13 said:
Fixed the above for you wink
lol, very true! I have got some ETH and DODGE which I am hoping will be relatively stable. Time will tell.
You mean DOGE?

DOGE + stable. Good luck with that!

Comacchio

1,398 posts

158 months

Thursday 15th April 2021
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MrChips said:
I've only been in for 3 weeks so thought i'd share my initial thoughts. I've bought a few £k worth of BTC, ETH and ADA and locked them away on a Trezor to stop me checking them every 5mins. Plan is to keep them until next year as a minimum.

Been using Kraken so far and finding it a good app overall, and fairly intuitive once you've understood the options for placing limit orders, stop losses etc.
I'm now holding a little bit of GRT and FIL and kept this in my kraken account as well as £500 with a view of trading some each week, but am still getting my head around the candlestick charts, how to interpret them and when to spot potential opportunities. I'd placed an order for DOT but it's never dropped back down to around £25 so that's still open.

I'm going to sign up for Binance this weekend.

My overwhelming impression here as a newbie is that a lot of the Youtube channels are pretty good at explaining what has happened, either recently or over the past months/years, but never really why it's happened. It's a lot of statistical analysis that seems to always assume that the same pattern will keep repeating over and over again. Gut feel says this may stay true until Crypto really hits the maintstream, as it's still overly complex and tiresome to buy in for an average Joe?

Any recommendations for youtube channels to keep an eye on?
Avoid the majority of them. Two I find to be fair and impartial are Coin Bureau and Benjamin Cowen.

g4ry13

13,793 posts

232 months

Thursday 15th April 2021
quotequote all
MrChips said:
Any recommendations for youtube channels to keep an eye on?
The only crypto people I keep an eye on is:

- Louis Thomas (he doesn't give me scam vibes although is very much a believer in Bitcoin)
- That Martini Guy - seems to have made a lot of money trading crypto. Gets involved with some obscure alts which you need to be more adventurous to get hold of.
- Jrny Crypto - recently came across his videos - seems to be quite good.

Other ones to note:

Datadash - I don't watch his stuff but seen him mentioned a bit and has a large following. I believe he has some quality content.
The Modern Investor - good for news but I don't have the time to listen to him as he does ramble a bit I find.

paulzeee

14 posts

168 months

Thursday 15th April 2021
quotequote all
Some really valuable info in this thread to be fair guys, keep the suggestions coming, they are most welcome. Also it's worth keeping an eye on reddit/cryptocurrency.

Biggest mistake i made at the start was fomo'ing in at the top when you see all green and then changing my mind after the dip! When you have skin in the game it sharpens you, quickly!

g4ry13

13,793 posts

232 months

Thursday 15th April 2021
quotequote all
paulzeee said:
Some really valuable info in this thread to be fair guys, keep the suggestions coming, they are most welcome. Also it's worth keeping an eye on reddit/cryptocurrency.

Biggest mistake i made at the start was fomo'ing in at the top when you see all green and then changing my mind after the dip! When you have skin in the game it sharpens you, quickly!
There's some useful stuff on Reddit I guess but I got bored of having to trawl through stuff about DOGE, moons, memes and rocket ships

anonymous-user

31 months

Thursday 15th April 2021
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g4ry13 said:
There's some useful stuff on Reddit I guess but I got bored of having to trawl through stuff about DOGE, moons, memes and rocket ships
Pamp it

jammy-git

28,299 posts

189 months

Thursday 15th April 2021
quotequote all
MrChips said:
I've only been in for 3 weeks so thought i'd share my initial thoughts. I've bought a few £k worth of BTC, ETH and ADA and locked them away on a Trezor to stop me checking them every 5mins. Plan is to keep them until next year as a minimum.

Been using Kraken so far and finding it a good app overall, and fairly intuitive once you've understood the options for placing limit orders, stop losses etc.
I'm now holding a little bit of GRT and FIL and kept this in my kraken account as well as £500 with a view of trading some each week, but am still getting my head around the candlestick charts, how to interpret them and when to spot potential opportunities. I'd placed an order for DOT but it's never dropped back down to around £25 so that's still open.

I'm going to sign up for Binance this weekend.

My overwhelming impression here as a newbie is that a lot of the Youtube channels are pretty good at explaining what has happened, either recently or over the past months/years, but never really why it's happened. It's a lot of statistical analysis that seems to always assume that the same pattern will keep repeating over and over again. Gut feel says this may stay true until Crypto really hits the maintstream, as it's still overly complex and tiresome to buy in for an average Joe?

Any recommendations for youtube channels to keep an eye on?
I'm not sure I would buy crypto and ignore for a year. The whole crypto market is feeling very "bubbly" right now and I suspect we'll see another bubble burst at some stage over the next 12 months. I'm sure it'll recover again afterwards, but it may mean your 12 month investment has to turn into a 3-5 year investment.