Cryptocurrency. Spend or save?
Posted 03 November 2017 - 07:57 AM
Just my opinion, trading a few hundred bucks worth of any crypto won't make you wealthy as there's no leverage available in any of the couple trustworthy exchanges out there (o maybe a max of 3x with some cap).
Altought better than having it in the bank, holding some $200 worth of bitcoin in your wallet or trading it on BTCUSD and holding for 2 years in the hopes that speculation gets it to 10K seems risky to me and unappealing as an investment. I am actually trying to diversify and find the most solid early stage ICO's for buy and hold long-term. Some earlier tokens had already shown this possible, as their prices made up to 8000% in a couple years...
My 2 cts, not an advice!
- Crave likes this
Posted 03 November 2017 - 08:16 AM
I had 549 Litecoin in a BTC-e trading account.
You may be aware that FBI were investigating BTC-e.
Well BTC-e is now launched as WEX
Between BTC-e seized by FBI and the launch of new platform WEX, my cryptocurrency has disappeared !
At todays LTC price of S55 that is a disappearance of US 30 thousand.
Moral of the story is be careful with cryto currency and crypto brokers that you use.
I have seen several crypto brokers go under, with many security breaches.
Wex reply was
We informed in the news that we don't possess historical data on transaction and orders of the old platform, that's why we cannot approve or deny your words about funds deposit. The funds were credited to the new platform WEX.nz in the amount shown in your profile. During the period after BTCE closing and before WEX opening, all transactions were fulfilled out of control of the old platform as well out of control of the new one.
Posted 03 November 2017 - 08:47 AM
Yeah, I agree it's the same WILD WEST as binary options...
When you place your money on anything that's as unregulated as both those two worlds (bins and cypto markets) you have to do it with total disregard towards your money, it's lost already... eventually you'll get a profit fom it, that's why you do it anyway, but you can't be sure... that's why I am going where at least there's "huge" potential gains and the statistical edge is favorable unlike bins (I totally went away from bins trading BTW)
- jimtang likes this
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