cancel
Showing results for 
Search instead for 
Did you mean: 

Crypto Currency

Established Member

Crypto Currency

Is it okay to invest in BTC, LTC, and ETH?

Has anyone got success?

Learn, Implement, Conquer
Message 1 of 64
63 REPLIES
Super Contributor

Re: Crypto Currency

I'm a gold and silver man myself.  IMHO Crypto Currency isn't worth the paper it is written on.

 

I would help look for a cut though

 

06/13/2018: FICO 821 EQ 814 TU 808 EX
Message 2 of 64
Community Leader
Super Contributor

Re: Crypto Currency

You may get more luck in getting people to respond if you ask a moderator to move this thread to the Personal Finance board.  Let me know if you'd like me to ask a mod to help with that.

Message 3 of 64
Moderator

Re: Crypto Currency


CreditGuyInDixie wrote:

You may get more luck in getting people to respond if you ask a moderator to move this thread to the Personal Finance board.  Let me know if you'd like me to ask a mod to help with that.


Grin was right to move it anyway. 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 741, EX 2 776, EQ 8 809, TU 8 774, EX 8 822 (1/1/18)
Goal Score:    EQ 5 771, TU 4 750, EX 2 776, EQ 8 809, TU 8 774, EX 8 822 (01/01/19)


Take the myFICO Fitness Challenge
Message 4 of 64
Regular Contributor

Re: Crypto Currency


TerryDDecker wrote:

Is it okay to invest in BTC, LTC, and ETH?

Has anyone got success?


Not sure "Invest" is what I would call it (at least at this stage)

 

I am a "no coiner", but I stick to dividend issuing stocks and physical assets.

 

Been burned in the past by "investing" in ideas, startups with no dividend and little real assets.  They can fly high, but it doesn't take much for them to also pink sheet.  When not much exists but an idea, a better idea may be right around the corner or you may not be able to achieve the initial plan when it comes to feet on the ground action.  Bitcoin's plan was to replace state issued fiat IIRC.  I have little confidence that will occur.



Message 5 of 64
Frequent Contributor

Re: Crypto Currency

Well, you can make MAJOR money on crypto but you HAVE to know what you are doing. 

 

Recently we had Etheremon and some people made 20K+ USD on that. On individual made over 250k usd.  I only had a little to invest but, I made my money back in full and then about $100. Not much, but it made more than all of my mining rigs combined that day. 

 

I mine Eth + Sia and right now mine and my roomates rigs bring in over $2200 USD monthly (non taxed , well, at least on coinbase the reporting limit is 20k yearly) . The rigs are fully paid off, they were bought may/june 2017. So now, its free passive income with the only recurring cost being power which cost eash of us roughly an additional $100 a month. I mined Dogecoin and LTC in 2013 but lost it all, right now what I would have had would have been worth 20k or so. Im not making that mistake now. 

 

You can make a LOT more investing in the right crypto, the real money is in alt coins (ripple, sia, etc...) becuase they have such a great fluctuation in price. Buy $1000 worth one day and it could easily be worth $1500 the next. 

 

I am more of a sure thing type of guy, and dont normally mess around on the crypto market but it is very clear, crypto is not dying, it is only getting much stronger. A few months ago Eth was at $200, recently it hit $800. 

 

Its like the stock market but much more volatile and with a lot more risk. You even have to be careful about which crypto exchange you buy at as some go down frequently or even halt trading. All I can say is, bitcoin is not what you want to invest in if you want to make moeny, the real money is in the Alts. 

765 TU FICO.
Message 6 of 64
Established Contributor

Re: Crypto Currency

Crypto currency is better described as gambling than investing at present. With the right luck and timing, one can make money but one can lose just as fast.

 

A few lucky individuals will make enough off of it to retire, but most wont. If you’re looking for a long term investment strategy, look elsewhere. Theres just too much volatility. You’ll have to watch your investments in it very closely - prices change wildly even hour to hour.

 

Had I dropped $100k in bitcoin last week, I’d already be down $25k. Not to say I won’t  be up $50k next week, but that just shows how it’s too unstable to leave money in for long term. 

Message 7 of 64
Super Contributor

Re: Crypto Currency

LIke many things, getting involved early give you an advantage over latecomers.  Hopefuly those who invest in it won't wind up on a future episode of  American Greed.

06/13/2018: FICO 821 EQ 814 TU 808 EX
Message 8 of 64
Frequent Contributor

Re: Crypto Currency

You get a lot of info on reddit about this. Today i learnt about moving my crypto money to a personal cold storage to avoid hacks or coinbase shenangians etc. I didnt know this. Redditors taught me. Many redditors are telling me that BCH wont scale as its centralized , they support BTC ,ETH and LTC big time. I guess what i am doing is ,investing some small amount and holding it as it may grow. And ride the ups and down and try making profit when I can. Investing in small amounts wouldnt hurt. Btw they are talking about yet another fork of bitcoin coming soon. You can buy fraction of BTC, ETH etc on coinbase. But on reddit they advise ,first depositing money into USD wallet on coinbase and using the same login to get in to GDAX and there buying BTC, ETH etc for fee free upto certain limit. Coinbase fees are high. 

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 20K| NFCU cashrewrds15.5K | NFCU more rewards amex 9.7K|Penfed cshrewrds 5K | Penfed travel Amex 5K|Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 8.5K|Citi Double cash 7.1k| Chase Aarp 4.2K | Chase amazon prime vis sig 8K | Paypal 2% Cash back 300$ | US Bank Cash+VisaSig 1k | US bankAmex 500$ | Walmart MC 10K | Wellsfargo cashwise 1.5K |2nd Disc 3.5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 5.5K |Good yearCC 2.4k - Over 150k CL all together

FICO SCORES- TU 737, EQ 710, EX 729 , AAOA 1 year. Inquiries TONS.
Message 9 of 64
Regular Contributor

Re: Crypto Currency

Lots of hateraide in this thread.

 

25552386_1969753489708543_1867138409674663924_n.jpg



My credit .... It's over 9,000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Message 10 of 64