places and ways to invest in crypto

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1rl9DS5gl2
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places and ways to invest in crypto

Post by 1rl9DS5gl2 »

In my experience, Coinbase and Equifax are the 2 truly evil corporations out there. I am interested in investing in crypto but my coinbase account is locked and they have built the perfect machine to insure they never have to interact with their clients. So my first question is: what other platforms can I use to buy Bitcoin and Etherium directly? My second question is: what funds or ETFs could I use to invest in crypto in a TIRA or Roth account at a reasonable cost? I know Bogleheads discourage this type of speculation. Please try to just answer my questions rather than trying to convince me why this is a terrible idea. Thanks.
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gwe67
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Re: places and ways to invest in crypto

Post by gwe67 »

Correction: Equifax is the MOST evil corporation out there.
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bogivan
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Re: places and ways to invest in crypto

Post by bogivan »

More info about what you're looking to do is helpful: trading? just buying occasionally and holding? do you care about using the technology directly yourself or just want to have exposure to the price?


To answer the ETF option, the SEC hasn't approved a "real" one yet which is a shame because the huge demand in the market is needing to come up with substitutes instead that aren't as good as a true ETF would be. There are a handful of crypto trusts that trade and one publicly traded NASDAQ company that holds approximately a third of it's market cap in BTC:

MSTR (MicroStrategy) is the company which some bitcoin skeptics recommend as the best way to get BTC exposure

The crypto trusts are tricky because they don't directly track price movements and they get paid handsomely for being the only direct ways to buy crypto in the stock market. They can have a premium to the price which fluctuates usually based on the current crypto hype. You want to keep them in IRA or other tax-advantaged accounts because their taxation in a normal brokerage account could be weird. Due to the fees, you'd probably want to buy crypto directly elsewhere instead of keeping it in a taxable brokerage account anyway - the idea of the possible significant price appreciation within a tax-advantaged account can make the fees worth it in an IRA, though.

GBTC is the Grayscale bitcoin trust. It typically has the lowest premium and has the lowest fees so would be the more recommended option if you want direct crypto exposure in an IRA

ETHE, GDLC, and BITW are Ethereum or crypto index trusts. Unfortunately, they come with 100%+ premiums which means the price of the underlying crypto could double (or more) and you would not see the price appreciation yourself. Not recommended compared to GBTC unless you really, really believe in altcoins over Bitcoin.
Last edited by bogivan on Mon Dec 21, 2020 11:43 am, edited 1 time in total.
Anon9001
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Re: places and ways to invest in crypto

Post by Anon9001 »

As long as you are okay with the "invested" money going down by 80% (that is the max drawdown of Bitcoin) than by all means speculate.
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Re: places and ways to invest in crypto

Post by willthrill81 »

The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
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Re: places and ways to invest in crypto

Post by Anon9001 »

willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Definitely true. The proponents would want these coins to sound like a sure bet that will make OP richer than Jeff Bezos in a short period of time but there is no guarantee on that considering the lack of cash flows. Although the asset has higher Sharpe Ratio than Gold so if you are considering a Gold allocation it is best to use Bitcoin instead for that percentage:https://www.portfoliovisualizer.com/bac ... ion2_2=100
Land/Real Estate:88.3% Equities:5.4% Fixed Income:3.9% Gold:1.7% Cryptocurrency:0.4%
aristotelian
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Re: places and ways to invest in crypto

Post by aristotelian »

I bought $10 of BTC with $25 bonus at Sofi Invest. I sold it the other day. Transaction was smooth and did not require any "wallets" or special passwords. Looks like PayPal is also offering a similar service. It also looks like TD and some of the larger brokers are starting to offer futures which would be another way of betting on crypto without having to mess with owning the underlying assets.
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Re: places and ways to invest in crypto

Post by willthrill81 »

Anon9001 wrote: Mon Dec 21, 2020 11:46 am
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Definitely true. The proponents would want these coins to sound like a sure bet that will make OP richer than Jeff Bezos in a short period of time but there is no guarantee on that considering the lack of cash flows. Although the asset has higher Sharpe Ratio than Gold so if you are considering a Gold allocation it is best to use Bitcoin instead for that percentage:https://www.portfoliovisualizer.com/bac ... ion2_2=100
Gold has a history spanning thousands of years of history. By comparison, BTC has only been around since yesterday. Amazon had a higher Sharpe ratio than BTC over the same period, but that doesn't mean that Amazon stock is a good substitute for anything.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: places and ways to invest in crypto

Post by Anon9001 »

willthrill81 wrote: Mon Dec 21, 2020 11:50 am
Anon9001 wrote: Mon Dec 21, 2020 11:46 am
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Definitely true. The proponents would want these coins to sound like a sure bet that will make OP richer than Jeff Bezos in a short period of time but there is no guarantee on that considering the lack of cash flows. Although the asset has higher Sharpe Ratio than Gold so if you are considering a Gold allocation it is best to use Bitcoin instead for that percentage:https://www.portfoliovisualizer.com/bac ... ion2_2=100
Gold has a history spanning thousands of years of history. By comparison, BTC has only been around since yesterday. Amazon had a higher Sharpe ratio than BTC over the same period, but that doesn't mean that Amazon stock is a good substitute for anything.
That doesn't mean anything considering no country that I know of has a Gold backed currency. You know we could argue why choose Gold over the other precious metals? What makes it special? Silver had the same status as Gold long ago yet the value of it now is much lower than Gold. You have to wonder how that happened and whether the same could happen to Gold when Bitcoin becomes more mature.
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retired@50
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Re: places and ways to invest in crypto

Post by retired@50 »

Whatever you decide, don't forget to tell the IRS about it...

From 2020 Form 1040
At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?
Source: https://www.irs.gov/pub/irs-pdf/f1040.pdf

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Bama12
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Re: places and ways to invest in crypto

Post by Bama12 »

Made my first crypto buy today.

Made a Robinhood account got my free stock, sold the stock for 5.50. I now own 1,101 shares of Dogecoin. I will check on it in about 10 years.
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Re: places and ways to invest in crypto

Post by willthrill81 »

Anon9001 wrote: Mon Dec 21, 2020 11:56 am
willthrill81 wrote: Mon Dec 21, 2020 11:50 am
Anon9001 wrote: Mon Dec 21, 2020 11:46 am
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Definitely true. The proponents would want these coins to sound like a sure bet that will make OP richer than Jeff Bezos in a short period of time but there is no guarantee on that considering the lack of cash flows. Although the asset has higher Sharpe Ratio than Gold so if you are considering a Gold allocation it is best to use Bitcoin instead for that percentage:https://www.portfoliovisualizer.com/bac ... ion2_2=100
Gold has a history spanning thousands of years of history. By comparison, BTC has only been around since yesterday. Amazon had a higher Sharpe ratio than BTC over the same period, but that doesn't mean that Amazon stock is a good substitute for anything.
That doesn't mean anything considering no country that I know of has a Gold backed currency. You know we could argue why choose Gold over the other precious metals? What makes it special? Silver had the same status as Gold long ago yet the value of it now is much lower than Gold. You have to wonder how that happened and whether the same could happen to Gold when Bitcoin becomes more mature.
Further discussion of precious metals would be off topic for this thread, so I don't want to discuss the issue further here. I'd be happy to do so in a pertinent thread.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: places and ways to invest in crypto

Post by Anon9001 »

willthrill81 wrote: Mon Dec 21, 2020 12:01 pm
Anon9001 wrote: Mon Dec 21, 2020 11:56 am
willthrill81 wrote: Mon Dec 21, 2020 11:50 am
Anon9001 wrote: Mon Dec 21, 2020 11:46 am
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Definitely true. The proponents would want these coins to sound like a sure bet that will make OP richer than Jeff Bezos in a short period of time but there is no guarantee on that considering the lack of cash flows. Although the asset has higher Sharpe Ratio than Gold so if you are considering a Gold allocation it is best to use Bitcoin instead for that percentage:https://www.portfoliovisualizer.com/bac ... ion2_2=100
Gold has a history spanning thousands of years of history. By comparison, BTC has only been around since yesterday. Amazon had a higher Sharpe ratio than BTC over the same period, but that doesn't mean that Amazon stock is a good substitute for anything.
That doesn't mean anything considering no country that I know of has a Gold backed currency. You know we could argue why choose Gold over the other precious metals? What makes it special? Silver had the same status as Gold long ago yet the value of it now is much lower than Gold. You have to wonder how that happened and whether the same could happen to Gold when Bitcoin becomes more mature.
Further discussion of precious metals would be off topic for this thread, so I don't want to discuss the issue further here. I'd be happy to do so in a pertinent thread.
They are both speculations in the grand scheme of things and if I have to wager it the Bitcoin will always have higher sharpe ratio than Gold because the amount of greater fools "invested" in Gold is much larger than the amount of greater fools "invested" in Bitcoin. But yeah to the OP be careful regarding this this has max drawdown of 80% don't put greater than 10% into this.
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ohboy!
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Re: places and ways to invest in crypto

Post by ohboy! »

Dogecoin lol

I have had no issues with coinbase in 4 years. The pro version has lower fees. I believe Kraken’s fees are even lower and Ive been using them for 4 years without issue as well.
Bama12
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Re: places and ways to invest in crypto

Post by Bama12 »

What about Binance.us?
go140point6
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Re: places and ways to invest in crypto

Post by go140point6 »

Haven't used Coinbase for almost a year (the Pro site, never used the regular Coinbase, just signed up there to jump to Coinbase Pro). As another poster said, the fees are much lower on CBP over regular CB. At one time I recommended CBP for Bitcoin purchases, even when they added the maker/taker fee, because it was free to transfer out (say to your hardware wallet). I don't know if this is still the case at CB/CBP. This is especially important if buying low amounts, where the standard transfer out fee with most platforms seems to be the "standard" 0.0005 BTC (currently $11.43 as of this posting). That's a ridiculous amount to spend if you are "stacking sats" by buying say $100 or so at a time. Never a good idea to leave your crypto on an exchange but also stupid to pay that much on every withdrawal of low amounts.

As yet another poster mentioned, Binance.us is decent if you are in the US. Reasonable maker/taker fees but the same stupid crazy withdrawal fees for BTC and (probably) ETH by now. I generally stick to XRP or LTC depending what I want to do, the withdrawal fees are minuscule and the speed is quicker than either BTC or ETH these days.
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Re: places and ways to invest in crypto

Post by drumboy256 »

Gemini is the only place you should be buying Bitcoin. All other facilities are absolute trash.
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1rl9DS5gl2
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Re: places and ways to invest in crypto

Post by 1rl9DS5gl2 »

To the minority of posters who actually answered my questions-----Thanks so much. To the majority who wanted to simply scold me for considering crypto (which by the way I originally bought years ago) or wanted to compare to gold as a speculation------OK.
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Re: places and ways to invest in crypto

Post by queso »

I use Binance and Coinbase, but as others have pointed out you also have Robinhood and Paypal as options. I am sure there are others.
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Re: places and ways to invest in crypto

Post by tananaev »

It doesn't really matter where you buy crypto. What matters is where you keep it. For any significant amount keep it in your own wallet. For example, for Bitcoin I use Electrum wallet.
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Re: places and ways to invest in crypto

Post by SteadyOne »

PayPal has an option now
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Re: places and ways to invest in crypto

Post by beernutz »

SteadyOne wrote: Mon Dec 21, 2020 8:05 pm PayPal has an option now
I bought some Ethereum for the first time on PayPal this Saturday with all the fun money I had there, $269. Today it is worth $252 so not an auspicious start.

I think crypto transactions are commission free during December.
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qwerty123
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Re: places and ways to invest in crypto

Post by qwerty123 »

I'd recommend Gemini or Kraken. These will both leave open the option to move your crypto to another exchange without liquidating (something paypal and Robinhood don't support).
Last edited by qwerty123 on Mon Dec 21, 2020 10:02 pm, edited 1 time in total.
calvin111
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Re: places and ways to invest in crypto

Post by calvin111 »

You can open a robinhood account and buy crypto (Bitcoin, Etherium and few more)
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Re: places and ways to invest in crypto

Post by ElJefeDelQueso »

gwe67 wrote: Mon Dec 21, 2020 11:36 am Correction: Equifax is the MOST evil corporation out there.
This site needs "like" or "upvote" buttons.
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Re: places and ways to invest in crypto

Post by SteadyOne »

beernutz wrote: Mon Dec 21, 2020 8:38 pm
SteadyOne wrote: Mon Dec 21, 2020 8:05 pm PayPal has an option now
I bought some Ethereum for the first time on PayPal this Saturday with all the fun money I had there, $269. Today it is worth $252 so not an auspicious start.

I think crypto transactions are commission free during December.
Do not forget to report it to the IRS. Lol
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Re: places and ways to invest in crypto

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Following
000
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Re: places and ways to invest in crypto

Post by 000 »

willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Expected nominal return of USD is zero, real return negative. Is holding it a speculation? :confused
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Re: places and ways to invest in crypto

Post by willthrill81 »

000 wrote: Tue Dec 22, 2020 6:51 pm
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Expected nominal return of USD is zero, real return negative. Is holding it a speculation? :confused
No. It's a guaranteed loss, no speculation involved.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: places and ways to invest in crypto

Post by 000 »

willthrill81 wrote: Tue Dec 22, 2020 6:56 pm
000 wrote: Tue Dec 22, 2020 6:51 pm
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Expected nominal return of USD is zero, real return negative. Is holding it a speculation? :confused
No. It's a guaranteed loss, no speculation involved.
Deflation leaves the possibility of a positive real return open...
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Re: places and ways to invest in crypto

Post by dru808 »

Bama12 wrote: Mon Dec 21, 2020 11:57 am Made my first crypto buy today.

Made a Robinhood account got my free stock, sold the stock for 5.50. I now own 1,101 shares of Dogecoin. I will check on it in about 10 years.
Did you have to do the kyc send a pic of your identification?
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Re: places and ways to invest in crypto

Post by willthrill81 »

000 wrote: Tue Dec 22, 2020 7:30 pm
willthrill81 wrote: Tue Dec 22, 2020 6:56 pm
000 wrote: Tue Dec 22, 2020 6:51 pm
willthrill81 wrote: Mon Dec 21, 2020 11:44 am The title of the OP is fundamentally flawed.

You cannot invest in crypto because crypto is not an investment; it's a speculation (i.e. there is no consensus at all that the expected return will be greater than zero). That doesn't mean that any speculation is wrong. If you want to put money into crypto that you would have otherwise bought lottery tickets or taken to a casino, that's fine. But putting anything of significance into it that you would otherwise have put into traditional investments is, IMHO, a potentially grave error.
Expected nominal return of USD is zero, real return negative. Is holding it a speculation? :confused
No. It's a guaranteed loss, no speculation involved.
Deflation leaves the possibility of a positive real return open...
I hope that you're not holding your breath.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: places and ways to invest in crypto

Post by rmelvey »

Gemini is fine. Except you have to email them to enable the limit order function for your account! :annoyed I generally prefer Coinbase Pro. I would stick with accounts where you actually hold the key so that you can move funds off of the exchange and onto a hardware wallet so you can do DeFi stuff and get the real gains 8-)
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Re: places and ways to invest in crypto

Post by Bama12 »

dru808 wrote: Tue Dec 22, 2020 9:45 pm
Bama12 wrote: Mon Dec 21, 2020 11:57 am Made my first crypto buy today.

Made a Robinhood account got my free stock, sold the stock for 5.50. I now own 1,101 shares of Dogecoin. I will check on it in about 10 years.
Did you have to do the kyc send a pic of your identification?
No not on Robinhood
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Re: places and ways to invest in crypto

Post by dru808 »

Bama12 wrote: Tue Dec 22, 2020 10:54 pm
dru808 wrote: Tue Dec 22, 2020 9:45 pm
Bama12 wrote: Mon Dec 21, 2020 11:57 am Made my first crypto buy today.

Made a Robinhood account got my free stock, sold the stock for 5.50. I now own 1,101 shares of Dogecoin. I will check on it in about 10 years.
Did you have to do the kyc send a pic of your identification?
No not on Robinhood
Thanks, did you set up a regular brokerage account with crypto access or is the crypto access a separate account?
Sptm 60 | Vigi 20 | Blv 10 | Btc/Eth 10
Bama12
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Re: places and ways to invest in crypto

Post by Bama12 »

dru808 wrote: Tue Dec 22, 2020 11:11 pm
Bama12 wrote: Tue Dec 22, 2020 10:54 pm
dru808 wrote: Tue Dec 22, 2020 9:45 pm
Bama12 wrote: Mon Dec 21, 2020 11:57 am Made my first crypto buy today.

Made a Robinhood account got my free stock, sold the stock for 5.50. I now own 1,101 shares of Dogecoin. I will check on it in about 10 years.
Did you have to do the kyc send a pic of your identification?
No not on Robinhood
Thanks, did you set up a regular brokerage account with crypto access or is the crypto access a separate account?
Regular Brokerage got my free stock sold it. Didn't put a dime of my money in.
BogleBuddy12
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Re: places and ways to invest in crypto

Post by BogleBuddy12 »

beernutz wrote: Mon Dec 21, 2020 8:38 pm
SteadyOne wrote: Mon Dec 21, 2020 8:05 pm PayPal has an option now
I bought some Ethereum for the first time on PayPal this Saturday with all the fun money I had there, $269. Today it is worth $252 so not an auspicious start.

I think crypto transactions are commission free during December.
I’ve heard that buying through PayPal is not actually owning the crypto. I don’t quite understand. Is there a concern with using PayPal? Is the price accurate or is there a premium?
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beernutz
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Re: places and ways to invest in crypto

Post by beernutz »

BogleBuddy12 wrote: Sat Jan 16, 2021 10:38 pm
beernutz wrote: Mon Dec 21, 2020 8:38 pm
SteadyOne wrote: Mon Dec 21, 2020 8:05 pm PayPal has an option now
I bought some Ethereum for the first time on PayPal this Saturday with all the fun money I had there, $269. Today it is worth $252 so not an auspicious start.

I think crypto transactions are commission free during December.
I’ve heard that buying through PayPal is not actually owning the crypto. I don’t quite understand. Is there a concern with using PayPal? Is the price accurate or is there a premium?
I only know what's in the PayPal FAQ below. I have used PayPal for almost 20 years without a problem so buying a few hundred dollars in cryptocurrency though them isn't a concern. There was no premium when I purchased in 2020 but I think that's changing this year.

https://www.paypal.com/us/smarthelp/art ... aq-faq4398

https://www.paypal.com/us/smarthelp/art ... aq-faq4398
Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it. --Will Rogers
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Re: places and ways to invest in crypto

Post by TravelforFun »

1rl9DS5gl2 wrote: Mon Dec 21, 2020 11:10 am In my experience, Coinbase and Equifax are the 2 truly evil corporations out there. I am interested in investing in crypto but my coinbase account is locked and they have built the perfect machine to insure they never have to interact with their clients. So my first question is: what other platforms can I use to buy Bitcoin and Etherium directly? My second question is: what funds or ETFs could I use to invest in crypto in a TIRA or Roth account at a reasonable cost? I know Bogleheads discourage this type of speculation. Please try to just answer my questions rather than trying to convince me why this is a terrible idea. Thanks.
I opened an account at Robinhood in October 2020, deposited $5,000 of play money in it, and promptly bought BTC at $13,221 a share (you can buy a portion of a share). I'm going to leave that money in there and see what happens.

TravelforFun
Last edited by TravelforFun on Sun Jan 17, 2021 12:51 am, edited 1 time in total.
dru808
Posts: 1471
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Location: mid pac

Re: places and ways to invest in crypto

Post by dru808 »

BogleBuddy12 wrote: Sat Jan 16, 2021 10:38 pm
beernutz wrote: Mon Dec 21, 2020 8:38 pm
SteadyOne wrote: Mon Dec 21, 2020 8:05 pm PayPal has an option now
I bought some Ethereum for the first time on PayPal this Saturday with all the fun money I had there, $269. Today it is worth $252 so not an auspicious start.

I think crypto transactions are commission free during December.
I’ve heard that buying through PayPal is not actually owning the crypto. I don’t quite understand. Is there a concern with using PayPal? Is the price accurate or is there a premium?

You own the crypto but they store it, they hold the keys and will not let you move it, you can only sell it.

Crypto aficionados would say “not your keys, not your coins”
Sptm 60 | Vigi 20 | Blv 10 | Btc/Eth 10
dru808
Posts: 1471
Joined: Sat Oct 15, 2011 2:42 pm
Location: mid pac

Re: places and ways to invest in crypto

Post by dru808 »

TravelforFun wrote: Sun Jan 17, 2021 12:25 am
1rl9DS5gl2 wrote: Mon Dec 21, 2020 11:10 am In my experience, Coinbase and Equifax are the 2 truly evil corporations out there. I am interested in investing in crypto but my coinbase account is locked and they have built the perfect machine to insure they never have to interact with their clients. So my first question is: what other platforms can I use to buy Bitcoin and Etherium directly? My second question is: what funds or ETFs could I use to invest in crypto in a TIRA or Roth account at a reasonable cost? I know Bogleheads discourage this type of speculation. Please try to just answer my questions rather than trying to convince me why this is a terrible idea. Thanks.
I opened an account at Robinhood in December 2020, deposited $5,000 of play money in it, and promptly bought BTC at $13,221 a share (you can buy a portion of a share). I'm going to leave that money in there and see what happens.

TravelforFun

Btc was worth more than that in dec 2020.
Sptm 60 | Vigi 20 | Blv 10 | Btc/Eth 10
TravelforFun
Posts: 2299
Joined: Tue Dec 04, 2012 11:05 pm

Re: places and ways to invest in crypto

Post by TravelforFun »

dru808 wrote: Sun Jan 17, 2021 12:49 am
TravelforFun wrote: Sun Jan 17, 2021 12:25 am
1rl9DS5gl2 wrote: Mon Dec 21, 2020 11:10 am In my experience, Coinbase and Equifax are the 2 truly evil corporations out there. I am interested in investing in crypto but my coinbase account is locked and they have built the perfect machine to insure they never have to interact with their clients. So my first question is: what other platforms can I use to buy Bitcoin and Etherium directly? My second question is: what funds or ETFs could I use to invest in crypto in a TIRA or Roth account at a reasonable cost? I know Bogleheads discourage this type of speculation. Please try to just answer my questions rather than trying to convince me why this is a terrible idea. Thanks.
I opened an account at Robinhood in December 2020, deposited $5,000 of play money in it, and promptly bought BTC at $13,221 a share (you can buy a portion of a share). I'm going to leave that money in there and see what happens.

TravelforFun

Btc was worth more than that in dec 2020.
I posted the wrong date. Bought on 10/25/2020 at $13,221. Fixed

TravelforFun
island_over_the_sea
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Re: places and ways to invest in crypto

Post by island_over_the_sea »

I sincerely recommend coinbase
Pandemic Bangs
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Joined: Sat Dec 26, 2020 3:49 pm

Re: places and ways to invest in crypto

Post by Pandemic Bangs »

1rl9DS5gl2 wrote: Mon Dec 21, 2020 11:10 am ...but my coinbase account is locked
How does this happen?

I'm terrified I will lose my free five eight (!) dollars for taking a "class" on Coinbase.
Wait 'til I get my money right | Then you can't tell me nothing, right?
Karamatsu
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Joined: Mon Oct 27, 2008 2:42 am

Re: places and ways to invest in crypto

Post by Karamatsu »

... what other platforms can I use to buy Bitcoin and Etherium directly?
You might take a look at Phemex. Setting up an account is free. You can then buy BTC through any of the linked markets. As usual it's probably better to transfer your coins to a personal hardware wallet. Since you have experience with Coinbase and the like, you should be in a better position than I am to decide if the price markups are reasonable. The company is based in Singapore, and I have not traded with them, so I can't endorse them, but would be interested in your impressions.
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