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Post by nellerdk on Jan 6, 2018 12:11:52 GMT
the total crypto market cap is in a strong uptrend right now.
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Post by skint4achange on Jan 6, 2018 12:21:14 GMT
the total crypto market cap is in a strong uptrend right now. That will probably (I hope!) be because of the small (Relative to some other dips!) dip in prices that happened yesterday.
TBH, these ups and downs do not really affect me that much. I am still up on my trades and I am not that heavily exposed to the Crypto market at present. Once I am confident of how the currencies I have are trading I may increase my exposure, but at present I have limited myself to 2% of my net worth.
At the moment I am enjoying the experience (About 70% of the time!) as a newcomer. I would like to invest much more, but as I said, I want to make sure I am aware of what the markets are capable of and that certain coins can hold up to volatility. My main choice at the moment (And I am glad it is!) is Ripple. I was lucky and got in at $0.35 per Ripple. If I lose what is invested, I do not mind.
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Post by skint4achange on Jan 6, 2018 16:43:51 GMT
Does anybody have any experience using ICONOMI the platform rather than the digital asset?
I have ICONOMI assets (ICN) but I was looking at their website and they have the option to transfer in to use their DAA managers to invest.
What I really want to know is if there is any real advantage to transferring ICN to ICONOMI and opening an account to trade using the DAA managers or not.
Any info gratefully received
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Post by nellerdk on Jan 7, 2018 14:09:46 GMT
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Post by skint4achange on Jan 7, 2018 14:18:09 GMT
I don't have much in the way of BTC. A bit too rich for my blood! Although I do think it will go much higher than it did before the "Great Bitcoin crash of 22 December 2017". But I do buy it to enable me to buy into other Altcoins and funds.
I intend to HODL to Ripple now and see where that takes me. Should be a fun ride!
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Post by skint4achange on Jan 9, 2018 15:16:06 GMT
Ok, well I opened an ICONOMI account and transferred over some BTC (They only accept BTC or ETH transfer in for DAA purchases at the moment). I only transferred about $550 at the moment as until I pass the verification process, there is a $1000 lifetime limit.
Overnight (Even with the downturn that has happened on a few of the currencies today) the funds managed to produce a daily increase of 10%. I know that is only 1 day, but I will let anyone know who is interested how the next few weeks/months go.
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Post by Deleted on Jan 10, 2018 9:15:13 GMT
I've never purchased a dime of crypto and no doubt I've missed the growth explosion but I'm still interested in a small speculation/gamble. skint4achange ICONOMI look very intriguing, a potential avenue to crypto exposure across various coins without having to keep an eye on technologies and market news myself. My small allowance really wouldn't warrant the time in doing so. What made you go with them? I suppose I need to get my hands on some Bitcoin before I can even get involved!
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macq
Member of DD Central
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Post by macq on Jan 10, 2018 9:32:02 GMT
or buy some Kodak shares if yesterday was anything to go by
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hazellend
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Post by hazellend on Jan 10, 2018 11:28:22 GMT
I'm not interested in any asset classes promising to get rich quick.
Get rich slowly is my preference, borne from experience. I am confident I will never invest in any altcoins.
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Monetus
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Post by Monetus on Jan 10, 2018 11:58:16 GMT
I'm a big fan of cryptocurrency and for a speculative % of your portfolio it shouldn't be overlooked. I invested around 5% of my net worth in various cryptocurrencies earlier this year and it's gone over 10x since then. It's now a considerably larger % of my net worth. I also de-risked by removing my initial principal and I'm now letting the majority of the free "house money" ride to see where this journey takes me... As it stands there's a huge amount of money on the sidelines waiting to get in as most altcoin exchanges are closed to new customers due to extreme demand - Bitrex, Binance, Cryptopia etc.
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hazellend
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Post by hazellend on Jan 10, 2018 12:01:53 GMT
I'm a big fan of cryptocurrency and for a speculative % of your portfolio it shouldn't be overlooked. I invested around 5% of my net worth in various cryptocurrencies earlier this year and it's gone over 10x since then. It's now a considerably larger % of my net worth. I also de-risked by removing my initial principal and I'm now letting the majority of the free "house money" ride to see where this journey takes me... That is great for you, I am always happy when people are making money, but I am still not interested in any investment of this type.
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Post by skint4achange on Jan 10, 2018 16:34:21 GMT
I've never purchased a dime of crypto and no doubt I've missed the growth explosion but I'm still interested in a small speculation/gamble. skint4achange ICONOMI look very intriguing, a potential avenue to crypto exposure across various coins without having to keep an eye on technologies and market news myself. My small allowance really wouldn't warrant the time in doing so. What made you go with them? I suppose I need to get my hands on some Bitcoin before I can even get involved! Hi Jester. As some have pointed out on here, Crypto is not for everybody (And certainly not the faint hearted!). I can be 40% up one minute and 30% down 3 minutes later (And I am not exaggerating!).
However, as others have said, for diversification, it should be at least considered, even if it is just a toe dip. As for "Missed the explosion in Crypto", on the contrary, I don't think we have seen anything like an explosion yet. Although people do not like Crypto, I am afraid it will become a major part of our lives in the very near future (Before anyone rips into me, it's my opinion and I am entitled to it!). I think Bitcoin has a lot more value to gain and some (Not all as there are now hundreds!) of the Altcoins will make a big impact in the near future. Read the blog from Ripple to get an idea of what I mean. Banks are already using Crypto and it won't be long before all financial institutions start to embrace it. Banks/Brokers are investing Billions in developing ways to use this technology, mainly for it's speed.
Anyway, I chose ICONOMI because I came across it while searching for managed Crypto funds. I have managed to invest $550 and even with the downturn that happened (They happen a lot of times a week but usually recover!) my $550 investment is now worth $620. $70 (12%) profit in 3 days during a downturn?? The only issue I have at the moment with ICONOMI is that they are using an online ID verification thing. My screenshot keeps being reported as failed. But I will keep trying.
You would need to also set up an account with an exchange to obtain either Bitcoin or Etherium. I use Kraken but there are others. I was verified on Kraken in 2 days. Transfers were easy too.
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Post by skint4achange on Jan 10, 2018 21:13:19 GMT
Just to update you jester, I have now managed to verify and have full account limits on Iconomi now.
They had a technical glitch with their verification system but that has now been sorted and my verification went through on the first attempt.
Will let you know how my investments go and if their %'s are true.
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Post by Deleted on Jan 11, 2018 11:56:03 GMT
Cheers for the info skint4achange, been reading up on ICONOMI and I think I'll give it a try. Having said that, thinking they'd take the buying decisions for me, I now need to make my mind up on the best DAA manager(s) for me with varying charges and methodologies!! More reading and guesswork required. Seems that actually buying the bitcoin through a broker/exchange in the first place is akin to the wildwest. Every broker seems to have shocking reviews on review sites such as trustpilot and scare stories galore online. Makes choosing one seem like the biggest punt, although Kraken have proved decent for you they get terrible press elsewhere. Seems all the platforms prove wildly inconsistent!
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Post by skint4achange on Jan 11, 2018 12:12:12 GMT
Cheers for the info skint4achange , been reading up on ICONOMI and I think I'll give it a try. Having said that, thinking they'd take the buying decisions for me, I now need to make my mind up on the best DAA manager(s) for me with varying charges and methodologies!! More reading and guesswork required. Seems that actually buying the bitcoin through a broker/exchange in the first place is akin to the wildwest. Every broker seems to have shocking reviews on review sites such as trustpilot and scare stories galore online. Makes choosing one seem like the biggest punt, although Kraken have proved decent for you they get terrible press elsewhere. Seems all the platforms prove wildly inconsistent! I did warn you that this is not for the faint hearted!
I also ignored a lot of the reviews/trustpilots etc. If you listened to half of the loony tunes on here going on about every platform you would never invest but just put your money under a mattress and sleep on top of it with one eye open and a loaded shotgun in hand! It's the same with Crypto, try it, make your mind up, invest or walk away. Nobody will force you to do it, but there are plenty who have never done it, or even researched it but feel qualified to judge you and the investment.
Kraken has never (To the outside world's knowledge) been hacked or had a security breech. Different websites tell so many different stories. However, if you do not trust them, use them to buy your Crypto and then transfer it to either a paper wallet or a ledger nano (Other brands are available!). you can even use an old laptop (I have one that I don't use anymore) and store your crypto on there. Wipe the laptop, ensure it never goes on the internet and have an anti virus program on it (Not that you should need it). Be careful that the anti virus program doesn't think the Crypto wallets are virus's!!
As for Iconomi and it's strategy, it is no different to investing in a managed stocks and shares program. I prefer at the moment to allow people who are "Experts" in this field to make calls for me on which currencies are likely to succeed. After all, like stocks and shares experts, this is all these people do all day. And, if they do not perform, I can leave their fund (For a mere 0.5%) and buy into a fund that is performing.
Anyway, whatever you decide to do, I hope it works out for you (I am in it for the long run as I said, so peaks and troughs to me are irrelevant).
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