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The cryptocurrency thread


RichMan
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I know some of you are exploring this venue or at least considering it. I started, be it very small, just a month ago. It's confusing as hell but I'm trying. No big bucks in the books yet but time will tell as I increase my knowledge and investments. My go to platform/app is crypto.com

Anyone else in the game? Care to share your experiences, downfall and success, lessons learned, tips and suggestions, etc?

Any form of income is good in these times...providing it's legal and no one gets hurt, right?

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Hey Rich, yea I bought a little too, but more of a long term investment. In the late 90's everyone was saying to buy Amazon and ebay stocks, and I ignored it, so don't want to miss the ship a second time. But it depends if you are looking for a long or short term investment. I'm looking more at long term, so I just bought some that was recommended and will just let it sit. If you are in it for more short-term, then you really need to keep up on the news and trends to see which are the hot ones and which are sinking ships. But don't ask me, I also don't know :)

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I dropped 120$ in there, spread over 5 different ones and it's been up and down a couple bucks for 2 weeks now. I'm trying to grasp how it all works, when to buy, when to sell, what to buy. I'm aware that Bitcoin/Ether/Dodgecoin are the major ones but to even dip into the real action, you'd have to drop at least a grand in each and I'm not ready to go there yet.

I'll be happy if I can double or tripple my money in 3-6 months. Then we'll see what I can do better.  

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7 minutes ago, RichMan said:

I dropped 120$ in there, spread over 5 different ones and it's been up and down a couple bucks for 2 weeks now. I'm trying to grasp how it all works, when to buy, when to sell, what to buy. I'm aware that Bitcoin/Ether/Dodgecoin are the major ones but to even dip into the real action, you'd have to drop at least a grand in each and I'm not ready to go there yet.

I'll be happy if I can double or tripple my money in 3-6 months. Then we'll see what I can do better.  

Crypto sort of does whatever it feels like most of the time. There is usually a dip around Chinese new year.

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I had the chance to buy into Bitcoin around $1,800 in like 2018 and am really kicking myself about it now. I finally put my money where my mouth was a few months ago and dropped a few thousand in the 'bigger' Cryptos as a more of a long-term, sit and hold investment, and a few hundred in the smaller Cryptos to play around with.  A few weeks in I was up maybe 10% and felt pretty good. A few weeks later everything dropped pretty hard... I told myself, I don't lose any money until I actually take my money out, Crypto has dropped before and its ALWAYS come back. I'm currently up around 33% on the 'bigger' long-term stuff, and about Even on the 'smaller' 'day-trader' type stuff. I prefer the sit and hold, the other stuff you really have to keep up with and put some time into.

At the end of the day I believe in the technology such as blockchain behind Crypto, as well as the decentralization. While its unclear if Crypto currency will really 'take over' in the coming years, I believe its a good place to store your money, and a good asset to have. 

OR the world economy is broken with current world events and money means nothing 🙃

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