Virtual Currency

[MUFC]

People are saying to me look into and invest etc. What are your thoughts?

[Mel81x+]

49 minutes ago, MUFC said:

People are saying to me look into and invest etc. What are your thoughts?

Its a very visible market now and is getting a lot of traction so I'd say yes investing a bit in it isnt a bad idea. However, just be careful as there are so many popping up you can get lost in a maze and lose more than make money. 

[Dr. Gonzo]

1 hour ago, MUFC said:

People are saying to me look into and invest etc. What are your thoughts?

If you’re thinking about investing in Bitcoin, I’d advise considering the bitcoin trusts rather than bitcoin itself - things like GBTC and OBTC (I believe these are the only two, but I could be wrong).

Primarily because it has a lower cost of entry, ultimately meaning less exposure & less risk. But if you’re buying bitcoin with an app where you can buy fractions of the coin... this can effectively give you the same thing but with direct ownership of part of the coin.

But with that you’re investing in a fund that holds bitcoin, rather than the cryptocurrency itself.

Something to consider, that’s also tied to the value of bitcoin (and other crypto currencies) is investing in blockchain mining companies. Because that way your investment will go up and down with the value of bitcoin - but it’s not 100% married to bitcoin and any other possible uses of blockchain would be covered by investment in these companies. I’ve seen over 100% return so far in one of these companies - so I think it’s something definitely worth considering.

[JoshBRFC+]

Is this the only thread for crypto?

How are those of you who have invested getting on? I’m dabbling but nothing serious. I know some real players though, who’ve made fortunes.