Ledger have 21% off the Nano S wallet this w/e to 'celebrate' Black Friday.
I have an unsued Nano, if anyone can advise how to reset it, I'll put it on SC ("full set" etc)
Poor old HMRC, got their work cut out for them with crypto.
Poor old banks too.
BTC. This is the first tipping-point. Awareness, uptake, discussion and price are at all-time highs. Tsunami-like levels when compared to any period over the last 7 years. In the last 6 months I've made more payments in BTC than in the previous 7 years. But most interestingly, my friends and social circle are starting to 'accept' it; many now have wallets and are getting clued up to how truly disruptive this is financially, and asking for reimbursement of 'group' payments (flights, joint birthday presents, gig tickets etc etc) to be made in crypto.
More inflection points will follow in rapid succesion. The price will continue to rise, exponentially, before it levels and falls by any significant value. That process could take between 3-6 months. By end of March 2018 you will see GBP10k per coin. Don't be surprised if by this time BCH will have tracked BTC to within 50-75% of its price.
Reading that back, I think it could be a tad conservative, both aspects.
Apologies for unanswered PM's. I don't come here as often as I used to. Hope this helps....
If you are day trading, treat it like a job. Set limits, both financial and in terms of your time- watching multiple charts at 6am stops being fun pretty quick. Don't be greedy. Don't bother with chat rooms, tips, websites, newsletters etc etc everyone has an agenda. People try to find a 'best comparator' to base their predications on, but there are none.
Watch prices all day every day, read and learn about the markets, understand that everything can go to zero PDQ. Have multiple wallets. Move profits OUT of your trade accounts ASAP and try (TRY!) not to move them back in for the "Big One". Building back up from zero sucks.
Would I buy-in now? Yes.
I have bought-in across the price range, from GBP10 upto GBP2,263 (June) and continue to move any fiat across. You might wait for a correction before buying, but that correction may not occur until the price it corrects to exceeds your 'current' buy-in price. For long term gains, historically it is better to bite the bullet and buy whenever you can afford to. If you want to buy, just buy, don't wait for a drop. You may weather a storm or two, but should be rewarded long-term. Again, history bears this out repeatedly.
I think it has already been said here, but this is the birth of a new class of asset, and we are all just riding on its coat tails until it reaches its true point of value, or stable market price. Some say it has already passed that point and will drop back to it, others are more optimistic and believe it will be well into 6 figures by the time that happens.
I've got some in a hardware wallet, but now I only buy on eToro. It means I can buy regularly in small chunks easily and then set stop losses so it (automatically sells on dips ) or if the worse happens and it is a bubble that bursts). I keep moving the stop losses upwards to protect the gains so far.
Made 12% gain just this weekend alone. Stop losses moved higher.
Last edited by ViperStripes; 26th November 2017 at 22:44.
I have just looked into coinbase, the main issues I see people having are with actually withdrawing funds(which is a big concern!) has anyone any feedback on this?
I’m currently using it, but I never had to withdraw from it.. being that I invested very little using Coinbase, I never actually tried withdrawing from it.. so it would save me some time if someone else did it in the past and would like to share the experience
Is eToro a buy and keep platform? Or rather a trading platform?
I looked it up since reading your post and seems to be the latter.. I have no knowledge about trading, so I’d be a fool to use it, but, having said that, eToro describes itself as a social platform in which noobies can “copy” professional trader’s strategies.. that sounds interesting! Can you shed some light on it please?
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I'm very surprised how bitcoin has captured the wider public's attention, and no doubt will continue to increase at it looks to break through US$10k, further fuelling the rush to get into this cryptocurrency.
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Last edited by KingKitega; 29th November 2017 at 09:28.
Just starting the withdrawal process today. So far:
1) You need to connect a bank account (not debit card) so that means making an IBAN payment to an Estonian bank account for 6 Euro which they then give you back. That arrived in 1 hour and I received email confirmation.
2) They say it will then take 1 to 2 business days to Verify my account and then 4 -5 days to transfer my withdrawal. Will update this thread when it arrives.
For shares etc it is a CFD Trading platform but if you keep managing your auto "take profit" upwards you can keep your trades open. There is a micro fee daily for open trades.
For crypto the fee is on the spread between buy and sell (like coinbase etc) there is no daily fee to hold and since early September all trades are backed with actual coins held by eToro. It's also FCA regulated which means Client funds have to be kept separate. So I'm transferring all my hard wallet coins to eToro and then setting stop losses at lots of levels so if the bubble bursts while I'm asleep/away etc and plummets 50% in a few hours then my auto-sells will kick out in profit as it falls. It's the stop losses that are the big appeal.
Couple of good blogs to explain how copy trading works, so I'm copying a few traders that are very good at say Commodities like Gold and Currency pairs like USD/EUR, plus a few that are successfully doing say Euro stocks, US Stocks, Tech stocks etc.
http://blog.eagerterrier.co.uk/2015/...load-of-money/
http://www.savethestudent.org/make-m...investing.html
Also worth noting that CFD's and Copytrading are exempt from Capital Gains.
If you want to join up let me know and I'll post a referral link. If you deposit US$200 as first deposit and make $200 of trades (e.g. Buy US200 of Bitcoin, not copying) then we both get US$20.
Rumours are that Bitfinex may have (more, bigger) problems on the horizon.
Would suggest moving funds out of Bitfinex, just in case, and especially if those funds are held in USD.
Can trading be considered self-employment so that profits are taxed as income not capital gains?
BTC is nearing $11k...
wish I'd bought some more when they were at Ł100
Hi
Now that I have my Ledger Nano S, can anyone who has set one up before help me with some advice?
I'm comfortable setting it with the pass phrases etc.
My question is - once I've done all that, how do I get my coins onto it (or the wallets it supports) from somewhere like Coinbase?
Presume that once I've loaded the wallet up, I will no longer be able to see them in the Coinbase accounts?
If I then want to sell, do I send them to myself at my Coinbase account and go from there?
Thanks. Just want to make sure I get it right!
I’m really new to this and the complexity of buying and withdrawing your cash has put me off so far.
A colleague explained to avoid fees, set up a fire.com bank account. This effectively gives you a working euro account. He then uses revolution to turn GBP into euro to feed this account and buy your bitcoin from it. You can also withdraw from coin base into it.
Haven’t done it myself yet, so I cant verify the above.
So this will probably look harder than what it is, but is easier in practice.
Revolut
1) Open a Revolut EUR account [this way you get the correct IBAN and BIC details]
2) Convert GBP into EUR
3) Select 'Send Money' [the big pink button on the app]
4) Select 'bank transfer'
5) Enter account details found on the Coinbase app
6) Send at least 6 euro to Coinbase using your unique Coinbase ID [this is the important bit!]
Then wait for the transfer and for Coinbase to update your account. My Revolut and Coinbase accounts were then linked within a day.
Coinbase
1) Sell whatever Crypto you hold
2) This is deposited into your EUR wallet
3) Click withdraw on your EUR wallet
4) Your Revolut EUR details will be automatically added
5) Confirm
6) Wait for the transfer
Revolut
1) Receive funds and keep in EUR or convert to GBP.
2) Once in GBP - withdraw to your normal bank account.
So it's really clunky to buy and sell digital currency but it's easier to do it than what it looks.
I tried it with a few small amounts as a proof of concept first and it worked perfectly. I'm hoping when the process becomes easier to buy cryptos, the price will shoot up even more as it becomes more accessible.
Hope this helps!
Edit: Once the accounts are linked, you can fund or withdraw really easily as an established beneficiary...
Thanks for the Revolut tips ^^^, very useful, trying it out now.
Open ledger the wallet
Click on 'receive' (top left of screen)
Copy the alpha numeric sequence (your wallet receiving address)
Paste the 'receive' address into the 'send' or 'deposit' window on your exchange.
Double check the 'receive' address is 100% accurate.
You can now send the funds to your ledger wallet.
Send a nominal amount first, get the hang of the process, then move larger sum/s.
Getting into this rather late and am certainly not diving in with it, but one of my friends recommended Kraken, the other Coinbase.
Having looked in Kraken, it appears rather complicated. Is Coinbase easier to use?
Does anyone who has used both, know whats the pros and cons of each?
Whilst Coinbase takes cut on each transaction (I think its around 4% in fees), GDAX doesnt.
But GDAX and Coinbase appear to be the same company, you can log in to each using the same account, and transfer funds between the two instantly.
So, does any anyone use GDAX?
Really interesting - will check that out.
On another point, anyone else having issues with the Coinbase site and app?? Site seems to be down a lot and the app keeps crashing. Updated the app today which may explain the app issues, but the site is down a lot. May just be the volumes as they added a lot of users over the last few weeks.
Revolut step 6 didn't work....Revolut gave me a message when I clicked Send saying "Request for your bank transfer has failed. Beneficiary is not allowed"
Seems it's not just me:
https://community.revolut.com/search?q=pay%20coinbase
So really curious how you did it.
Last edited by ViperStripes; 29th November 2017 at 23:57.
Can you do a screenshot of the Coinbase Account details you set it up with please (in Revolut)? Obviously blank out your Coinbase ID.
- - - Updated - - -
Can you do a screenshot of the Coinbase Account details you set it up with please (in Revolut)? Obviously blank out your Coinbase ID.
About step 6.. what do you mean by “using your Coinbase ID”?
I just did the whole thing, using the details Coinbase has provided me.. received an email from Revolut saying that the transaction was being processed.. and then after about ~30mins a second email arrived stating that the transaction was successful.. opened up Coinbase, to find nothing!
is it a matter of time? Or did I do something wrong?
Thank you
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Yeah that's a tech guy talking tech rather user experience.
Yes, when I was looking around, the only one that had any kind of user experience thought applied to it seemed to be Coinbase. I'm sure the others are good to use, but they didn't seem to be very friendly upon first looking.
Just tried the Revolut transfer - will report back in a few days. Says it takes a couple of days to arrive...
I'm away from my computer, but it's just the standard Coinbase account details when you press 'deposit' on your EUR wallet. I copied them over from Coinbase into Revolut and it's now saved as a beneficiary, so it takes seconds to send my Coinbase account more money.
If you've had the e-mail from Coinbase you will have entered the correct details, otherwise they would have just received an anonymous payment. But the Coinbase ID is the reference you get when pressing the 'Deposit' button on your EUR wallet. Strange that it didn't appear instantly once you had the email however.
Quick update.. the funds took less than 24hr to get from Revolut to Coinbase, and the account shows as linked.
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Kraken does not have the most fluid UI but the platform is very robust, arguably the most secure with no (disclosed!) hacks to date etc. For me, thats a paramount consideration.
Neither have they been ordered to hand over to the IRS all user details (name, address, D.o.B, bank account etc) responsible for transactions of USD20,000.00 or more, as Coinbase has.
Likely the first of many such orders though.......