I would recommend starting with as much as you can afford to lose without skipping a beat.
Master Thread tfsf/cryptostreetbets - FLR has finally arrived
- Thread starter HumasButthole
- Start date
Master Threads
I would recommend starting with as much as you can afford to lose without skipping a beat.
naw guy you can start with any amount
heres what i know, ive got around 40k invested and im certainly not a professional so maybe others could add
your start amt is whatever your comfortable of losing which your not gonna lose but theres always that remote possibility i.e. nuclear war etc
cryptocurrency is just another assets class you can invest in other than the US dollar
there are also real estate, precious metals one can invest
i already have metals so i wanted to diversify with crypto
when i started there were only 3 coins you could purchase (btc, ltc and ethereum), purchasing these will allow you to purchase other minor coins or alt coins and there are numerous alts out there
first you have to access an exchange, in this exchange you can purchase coins, i started with coinbase and they required no identification to purchase but now you have to provide everything that is DL, credit card info etc. they want this so the government can get a piece of your action and tax you
CB may be your only option for right now so let me get back with you on if there are any decentralized exchanges out there currently
but in the mean time go explore CB
there is also a discord thread on crypto you should venture in
Been reading a lot about the AAVE coin since Cuban mentioned it in the AMA forum. If you believe in the De-Fi movement it could be a great investment.
10,000ft view is that it is a block-chain money market. Interest rates are based on supply and demand.
The mechanics of it are a pretty tough read, but interesting. I interpreted to mean a block chain coin that would be the equivalent of a money market.
10,000ft view is that it is a block-chain money market. Interest rates are based on supply and demand.
The mechanics of it are a pretty tough read, but interesting. I interpreted to mean a block chain coin that would be the equivalent of a money market.
Also, if you haven’t read about de-fi yet, now is a good time. Maybe I am late to the party, don’t know.
Can algos / coins take over the banking industry 10-20+ years down the line?
Can algos / coins take over the banking industry 10-20+ years down the line?
aave is prob my best coin curretly, we bout that at .18 a coin and its where its at now
thats what im talking about the alt coins
stick a 1oo0 dollars at .18 your a bazillionaire
Global markets are worth 99T
Criptocurrency was worth 260B last June and today it’s worth 1.2T.
Lots of room to grow...
My copy last week on Etoro made me 1,400 in a week. I’ll just keep copying him and layering on cash into my account. I figure when a conservative guy like me decides it’s time for crypto it’s going to move up considerably the next 5 years+.
I also think a significant amount of stimulus money will be dumped into crypto as well.
The old guard banks/govts will eventually lean into crypto and watch out.
I used to make fun of these threads, but honestly it’s fun watching crypto as it’s always alive and moving. Never closes like the stock market so it keeps my dumbass entertained. The goal is to put 50k a year into it and let it ride.
Criptocurrency was worth 260B last June and today it’s worth 1.2T.
Lots of room to grow...
My copy last week on Etoro made me 1,400 in a week. I’ll just keep copying him and layering on cash into my account. I figure when a conservative guy like me decides it’s time for crypto it’s going to move up considerably the next 5 years+.
I also think a significant amount of stimulus money will be dumped into crypto as well.
The old guard banks/govts will eventually lean into crypto and watch out.
I used to make fun of these threads, but honestly it’s fun watching crypto as it’s always alive and moving. Never closes like the stock market so it keeps my dumbass entertained. The goal is to put 50k a year into it and let it ride.
What are some good sources that give advice for crypto?
I started on Etoro app, I didn’t know a damn thing a week ago. Now I’m addicted to it.
I joined Etoro because you can select traders and copy their every move. I read the profiles of about 50 traders and settled on a guy I liked. They post messages and there are forums and lots of discussions. This guy has 1,400 copiers so the discussions are really good. It’s way to simple, but allows you to learn as you go.
May not be the answer you were looking for, but a friend of mine that launched his own coin told me this is how I should start.
The dude I copied is below. He has a podcast and Instagram page. He’s legit...
Attachments
i think you should just open a coinbase account, purchase ethereum or bitcoin or split it and just keep it there to bake
Any feedback you vets can offer a new guy regarding the BRD wallet? Neighbor recommend it s a good place to get started.
Also, been reading about XRP, seems like a neat concept they are working on - any thoughts?
Also, been reading about XRP, seems like a neat concept they are working on - any thoughts?
have no experience with the brd, my wallets are exodus, MEW (my ethereum wallet) and ledger
xrp imo isnt a good coin to invest in
cryptocurrency was initially started to avoid banks and stay anonymous/private
when crypto craze hit in 17 the banks felt left out and wanted a way to profit off crypto
thus xrp
Mordain
Poster
Now I'm really fucking in this but I still don't know shit. Angry at myself for not getting in sooner. I played around with CB but ultimately decided to fund $2,500 to Etoro so I could copy traders @BoiseGator. I just downloaded Exodus too for some reason. I'm like my four year old at the Dollar Store. I have BTC, ETH, cryptokevin on Etoro (which is fucked up but kinda fun) and MIOTA even though the 4.5% spread is ridiculous. With Etoro-the app is the trading platform and a separate app is required for the wallet. I've set up a BTC wallet but still have no idea how to transfer ole cryptokevin or MIOTA when the time comes. Looks like I can transfer ETH direct from trading platform to wallet.
Among the many questions:
1. Is Exodus even necessary at this point?
2. How do I transfer from Etoro to Etoro wallet or another wallet?
Among the many questions:
1. Is Exodus even necessary at this point?
2. How do I transfer from Etoro to Etoro wallet or another wallet?
Is @BoiseGator working on options, or crypto? I don't have etoro but it seems like a cool feature how you can follow a trader.
Noel, do you recommend using a burner type email account for this setup?
very erudite question!!!! yes most certainly to avoid tax ramifications
now if you dont care about paying taxes then by all means give them your info
i have a buddy whose heavily invested in crypto and he says he doesnt care, whatever gains he makes will be reported, to each is own
Hey Noel, you posted this message a week or so ago on the board.
I'm interested in getting into this market (better late than never), but am still skepticle in providing my personal information to coinbase, etc. Maybe I shouldn't be, but I don't know. What do you recommend to maintain anonymity? Can you go into specifics on what sort of process you would recommend for a beginner?
For example:
-What accounts would you set up in order to buy?
-What accounts / wallets would you use to trade and/or hold your coins?
-What sort of processes are involved in getting the coins into secure accounts/wallets?
-Do you have a robust computer, firewall, VPN setup? What are the critical links?
-You mentioned in a recent thread about having a friend that wants to sell some of his bitcoin. What does that process look like for someone buying it without using a company like CB (or other)? How would the coins actually be transferred? How are they able to be authenticated, so you know you're not getting scammed in a private party deal?
Thanks in advance for all of your help and input.
-coinbase or binance
-exodus, my ethereum wallet (mew) and ledger (this is a cold storage wallet which means not connected to the internet)
-this process can be painstaking because of all the passwords and backups your gonna have to supply, this is the most important step btw
-lenovo was the one recommended, i use it strictly for crypto. you definitely need a vpn, i use express vpn, $99 a year for up to 5 devices (interchangeable)
-i have a buddy that wants to sell some btc, one could purchase the entire bitcoin or percentages i.e. 2k worth. if youve never purchased btc this is the perfect way because you avoid providing credit card info on cb or binance. youll have to download a wallet, exodus would be perfect, you need a wallet because you need your btc address. once you have this address then thats where the purchased btc will be sent. yes it anonymous you dont know whos sending but the senders btc address can also verify where its being sent from, meaning expect delivery from this address etc. plus because this is peer to peer one will have to "vouch" for this sender, you dont want to take anyones word for it because theres no turning back once the transaction takes place. you never want to purchase any crypto from some unknown individual, that persons credibility has to be confirmed. we dont know each other so if we go this route ill explain more in detail.
that said ill know more tomorrow if there is any btc left, this was brought to my attention yesterday evening and between a few of my buds im sure that coin has been whittled down
All in crypto on Etoro, up 40% in 9 days. Pretty crazy to be honest.
Opened an etoro account today. Once I'm verified, I'll deposit and copy @BoiseGator copying the etoro guy. Read a book a while that suggested instead of starting from scratch, to just mimic people having success.
I have a lot of irons in the fire right now, so I'd like a hands off approach.
Convert to Bitcoin/Litecoin/Etherium and transfer to Coinbase/eToro. You can then cash out and have it deposited into your linked checking/savings account.
I was in pretty up on crypto in 2017, but I cashed out when I doubled my money. I should have stayed in. Lesson learned
I don't do much trading due to the Tax pain in the ass. I did recently have a shitcoin go damn near 10x (when it was down BIG time) and I sold that day for a 6k profit, when the loss was sitting at 12k. I literally was going to dump just to claim a loss. Since it was a Uniswap/Defi type project you sell into ETH, and my ETH went from 1200 to around 1800.
Crazy I go from a 12k loss if I'd dumped to now being ahead 30k. The other reason I don't trade is I just can't get into Voodoo TA (Technical analysis). Christ I listen to these guys on Youtube who only trade on TA, and it sounds like you have so many ways of coming to a buy-sell decision it makes my head spin.
I paid just under 6k for my BTC and bought 2.3 almost a year ago. I don't see it retracing back under that, so I am content to hang on. We're just barely over 1X of the previous ATH and it seems there is bullish info daily.
However NEVER be ashamed to take profits. That is your comfort level.
Getting in on alta for this reason. Aave and doge so far but only need one to make it.
You can just stop trading and transfer the fund back to your regular bank account if you like.
I just don’t see crypto slowing in growth. The hottest conversation in retailing is how to accept crypto currency. Just wait when Walmart or Amazon starts accepting it. You are talking about two companies that do a trillion dollars a year in sales.
As said above, pull the profits if you like. For me it’s money I’ve come to terms with keeping in crypto indefinitely. This is along term play in my opinion.
Ethereum/ etc tokens to MEW to Trezor is not going well for me. I know trezor is testing their own eth wallet but don't want to go that route yet
Few weeks ago I decided to get in on a couple of the crypto currencies that were still well under a dollar just hoping to get lucky on one of them. Stayed away from xrp and anything that has insane amounts of coins out there or no limits.
I picked a few I thought would be the safer ones to throw a little cash in and settled on Algorand (ALGO), Stellar Lumens (XLM), and district0x (DNT). February has been good to me, was up over 350% at one point and still over 250% and hoping to see a consistent gradual climb.
I haven’t done much investing before but I think that is going to change. Just opened an E*TRADE account and just gonna go with any hunch I got and see what happens. We need to get an active stonks thread going on this site. If I hit it big I’ll rent an entire cruise ship for a week for all crootn members and family
I picked a few I thought would be the safer ones to throw a little cash in and settled on Algorand (ALGO), Stellar Lumens (XLM), and district0x (DNT). February has been good to me, was up over 350% at one point and still over 250% and hoping to see a consistent gradual climb.
I haven’t done much investing before but I think that is going to change. Just opened an E*TRADE account and just gonna go with any hunch I got and see what happens. We need to get an active stonks thread going on this site. If I hit it big I’ll rent an entire cruise ship for a week for all crootn members and family
dont have any experience on trezor but all my ether is in my exodus wallet
I’m finally starting to follow this and just bought 2,500 to get in the mix. Going to start dumping money every month from here on out. I bought Bit, ETH, ALGO, GRT, Link. Those seemed like what every one told me to buy lol. A lot of knowledge on here, thanks for making it easier to understand
Sikness23245
Elite
Early success for a new trader can be a bad thing. Take profits when you're right and allow yourself to admit when you're wrong and just get out. Don't hold on for huge losses because "I just know this is gonna go back up!"
Looks like not the best time to invest in the crypto stuff, considering how much everything has gone up in the past few weeks. You guys think this is a short term rise, and everything will tumble back down to earth soon? Or is this just due to rising interest?
im certainly no expert in this industry but i certainly have alot invested
i get all my crypto info from a buddy of mine and all he does is study this stuff, night and day, lives and breathes it
tifwif but hes claiming btc will be over 100k in the future, i think it still very young and it aint going away
hes been in the crypto game since 14 and maybe a little before that and he got me in in 17, i was certainly concerned when btc got back down to 4k but all his predictions have been accurate thus far
our main goal back then was look for an alt coin that was going places, that had an everyday application that one day it would take over said application
we picked 8-10 and they were worth cents at the time and threw $100-500 on them
so yes you have to purchase btc or eth to purchase alt coins but imo i dont think its too late for anything, i thought i was too late in '17 and I purchased at an ath and look where that sumbitch is now!!!
sorry if i rambled hope this helps
So what other coins besides BTC does he think are good options? IMO, these short term gains from the past week will have to regress somewhat, because I just don't see anything that justifies anywhere from 20% to 113% increases in 1 week. GRT (The graph) averaged around $0.50 for all of 2020, then from January 29th to it went from $0.55 to $2.87 on February 11th, and now is back down to $2.07. Either way, it had a massive jump in value in a week. Most of the crypto coins have been similar over the past week to month. What would drive such a gain?
