Thinking of going CRYPTO?

[Sab]

So - You've heard the hype about Crypto currencies, Your maybe not techy enough to know the full HooHaa about it ?

Well look no further, Here we will start a topic about Crypto - how to earn it, how to trade it and most importantly How to Spend it.

There are many ways to do all 3 listed and hopefully we as a community can help you understand it more.

So, let me begin with the basics,

 Cryptocurrency is a form of payment that can be exchanged online for goods and services. Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.

The main point of cryptocurrency is to fix the problems of traditional currencies by putting the power and responsibility in the currency holders' hands. All of the cryptocurrencies adhere to the 5 properties and 3 functions of money. They each also attempt to solve one or more real-world problems.

Investing in crypto assets is risky but also potentially extremely profitable. Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency, while a safer but potentially less lucrative alternative is to buy the stocks of companies with exposure to cryptocurrency. (~A bit like Gambling in my own view).

*edited by moderator*

So with this being said - How I do (Sab) earn my crypto - Well I am a Brave browser user which earns me Bat (braves own cryptocurrency) which gets placed into my Uphold account (which is also linked with my Bank for easy withdrawals) -- I also add funds from my bank to my Wallet (Uphold) and trade in crypto's on a daily basis (usually on an evening when I've got a couple of hours to my self) I use the good old buy low sell high (like stocks and shares etc) 

Okay I suppose that's a good enough intro and I hope many others will jump onto this thread and help others to learn more about the Cryptocurrency world. 

Good luck 

[OLDFARTGAMBLER]

I'm not brave enough to gamble with Crypto as its unregulated....I like the concept though and I'll keep my eye on the ball to see how others get on with this!

 

HODL!!!!!!!!!

[Charlieace]

Thats way over my head Sab , i will stick to pounds and pence ,but great post

[Chloe]

Hey Sab,

Happy to see the new thread, but I am going to remove the names of the Crypto Casinos at least until Will or 2Jags can take a look and make a decision. I know some people are happy to gamble with crypto, and in particular a UKGC License doesn’t matter to rest of world players, but unfortunately the case is that some of these sites don’t accept UK players. They may allow UK players to sign up, though, and what could happen is that any balances or withdrawals may be forfeited if it turns out the player is UK, and I would be wary of anyone from this Forum signing up to one of these, having a bad experience, and then the word spreading that they found the casino on Hideous Slots forum as that would imply he endorses them. I think it’s great to discuss crypo in general though, I know a lot of people are interested in it or are considering investing!

[terrysmith]

I think that you can only invest in short-term projects to make money. Recently I learned that Buffett does not invest in cryptocurrency, but only in gold.