A year from now you may wish you had started today

[Outlier]

It was told me to only invest unspent beer money in crypto. The returns look good on paper but getting the money out is not a simple task. Some places take it, but its always been just murky enough to scare me off.

I've read about and heard from people that have had some issues. Usually it's the bank that is the issue. They don't like people withdrawing money to be used in something they don't have their grubby little fingers in, i.e cryptocurrency exchanges.

I can't think of any exchanges that I use that don't allow me to deposit money and begin trading immediately. There is a waiting period before I can withdraw said funds again tho.

Mostly depends on how long ago it's been since I last made a deposit. 4-6 business days is what I typically see on Coinbase. The time varies by whatever exchange you are using tho. I had to wait 65 days to move some crypto off of Uphold. Something like that's almost always because of the exchange and their asinine way of doing things, not because of whatever particular cryptocurrency you bought.

 

[dcline9163]

You don’t understand inflation do you? That $100 is in fact worth less today than it was a year ago. Bigly

How? You can still buy $100.00 worth of what you want? Just maybe you mean't to say you can't buy the same at the price of a year ago.

 

[Buckeye Mike]

How? You can still buy $100.00 worth of what you want? Just maybe you mean't to say you can't buy the same at the price of a year ago.

No. I meant to say that $100 is worth less today than a year ago. That’s what inflation does to fiat money.

 

[Buckeye Mike]

@TheGman

It is my understanding that you need to at least be an accredited investor to have access to the few places that might offer cryptocurrency, but that's above my pay-grade.

Not at all. Go to the App Store and down load coinbase or coinbase pro. You don’t have to spend any money to set up an account. There’s a bunch of info on the app. It even gives a description of each coin and what it’s uses are.

 

[Buckeye Mike]

For those that don’t understand crypto you first should understand what it’s used for. I’d suggest researching Blockchain technology. That’s where we are headed in the financial world.

 

[Outlier]

Not at all. Go to the App Store and down load coinbase or coinbase pro. You don’t have to spend any money to set up an account. There’s a bunch of info on the app. It even gives a description of each coin and what it’s uses are.

I was referring to purchasing cryptocurrency through the likes of Fidelity, Edward Jones, etc.

 

[Outlier]

That's a pretty good ebook. I personally have had no big issues with Gemini, Celsius, or Coinbase. In fact Coinbase is the only exchange that I was able to link to my credit union. Everywhere else I had to use a different bank. Seems to be something to do with not being recognized by Plaid. I have not used Nexo. Voyager is also another good platform to earn interest on

 

[letusbuyyourcar]

I know I'm not hip and tech savvy but I just don't trust a digital currency. Anything digital can just disappear. Kinda like when I post an offensive thread or comment. Where did it go? It was just ther 5 minutes ago.

 

[Deleted member 79987]

I just finished reading a long-form article by a financial historian... an excellent read.

How Bubbles, Price And COVID-19 Changed Bitcoin for Me
"Bitcoin is not a bubble. It’s the monetary escape hatch we need now that the COVID-19 cat is out of the bag."

How Bubbles, Price And COVID-19 Changed Bitcoin for Me

Bitcoin is not a bubble. It’s the monetary escape hatch we need now that the COVID-19 cat is out of the bag.

bitcoinmagazine.com

 

[rightway1974]

If a person who had no investing experience and had 3-5k to invest now and would have an additional 500-1k per month to invest. What would be the best option for a person in their late 40's?