crypto currency

[LivingAlmostLarge]

oh crypto is coming back?

[QuarterMillionMan]

Same day at 7:32 pm.

[QuarterMillionMan]

This morning my Ledger balance was $16,800. At 6:12 pm today $18,000. But never know tomorrow morning could go back down $1200 or more. Huge swings.

[QuarterMillionMan]

FYI, this is Ledger's fee to buy cryptos with either your bank (shorter list) or credit card (longer list). Also, when transferring between accounts similar fees. I transferred $1000 at a time from Coinbase ($3 fee) to Ledger ($25 fee). Based on $1000 purchases.

[QuarterMillionMan]

With cryptos rising my interest has piqued again. These are my accts; Coinbase $6500, Ledger $16,000, Coinbase wallet $1500, Robinhood $3000, Trade Station $4000 (Roth IRA). Majority of my holdings is in bitcoin but I have ethirium, solana, lite coin, etc.

[myrdale]

How is btc coin so high?

My guess is it is being driven by the issues with Silicon Valley Bank.

[LivingAlmostLarge]

How is btc coin so high?

[QuarterMillionMan]

Cryptos have been moving higher as well for some unknown reason.

[DanBond]

If anyone is still interested in cryptos in 2023, I would suggest you be careful. It's still a cool way to make money but they are too volatile nowadays and it's easy to lose a lot of money trying to invest in cryptos. If you're interested in getting started, I recommend doing your research on different cryptocurrencies and their respective technologies, as well as looking into reputable exchanges for buying and selling. You may also want to consider investing in a hardware wallet for added security. You can get more info about crypto from related articles. I'm sure that cryptocurrencies can provide significant returns for those who invest wisely.

[myrdale]

Here is an article on it:

https://www.cnbc.com/2022/05/12/cryptocurrency-luna-now-almost-worthless-after-ust-falls-below-peg.html

From what I gather, other "stable coins" are backed by bonds or cash. Think gold standard. The company that created Terra backs the coin with Bitcoin. They create and destroy Terra in a way to maintain the price at $1. When the price of Bitcoin dropped, so did the backing of the coin.

[QuarterMillionMan]

CNBC just a few minutes ago said Terra is halted.

[LivingAlmostLarge]

Is it really crashing BTC? I say that because less than 2 years ago wasn't it $4k? Most i know have profited royally having bought when it was cheap.

[james.hendrickson]

No idea how to buy it...but even if the price is low, it still makes sense to do some due diligence. It might, in fact, be worthless.

[QuarterMillionMan]

Terra USD down 98%, does anyone know how to buy this? I use Coinbase and it has a different Terra at .49 cents. Terra is a stable coin and tied to the US dollar at $1 but the bottom fell out of Terra. I see it as "on sale." I am okay buying a few hundred and taking a gamble on it.

[CryptoSandra]

Really? I didn't know about this.

I've found that there is a lot people don't realise about trading crypto. Everything thinks it's so volatile and dangerous and risky and you could lose everything overnight. Yes, that's all true - BUT there are loads of actions you can put in place to significantly reduce the risk. Investing in shares can be risky too - how do you know the company is going to survive and give you a return at the end of a certain period. Same as managed funds and I've sadly seen friends lose retirement money in 2 managed funds go wrong. I find the best thing to do is educate yourself as to what the options are, learn to trade, and make another income stream a very real possibility. It can be passive (if you get in and by coins cheaply and they grow a lot; or if you build up the network marketing option side of the training business) but generally it's more active if you are day-trading. I'm really happy to help anyone get more info in this area. I've seen lives change dramatically. People being able to work for themselves when jobs were lost during covid, people being able to retire their parents and pay off their mortgages, people being able to bring FIFO husbands home to local jobs, and just people happy to make a side income to buy some extra things they never thought they'd be able to afford. It's a huge growth industry and is probably worth a bit of due diligence to see if you think it is for you.