[Finance] The cryptocurrency (Bitcoin etc) thread

[Gazwag]

Forgive my lack of knowledge. I bought DOGE at 5p back in Jan via Binance. Will I be able to trade this over to my Coinbase wallet somehow?

Yes, do a goggle search and you will see how to do it. Also see how much it will cost you to transfer as it might be cheaper to convert to something else first then back again on coinbase.

 

[driller]

Bitcoin flying.
Huge gains across crypto this week

 

[CheeseRolls]

Things could get very interesting for alt coins if bitcoin starts to steady at this price.

My biggest holding is now Quant after a magnificent 100%+ increase in a week. This one looks like it still has some way to go as well.

 

[KeegansHairPiece]

Bitcoin flying.
Huge gains across crypto this week

Woohoo I’m back in the black!

 

[BHAboi]

Round 2 on the way?

 

[peterward]

2 contrasting emails today:

From Binance
A letter from our CEO: Reflecting on Progress and the Road Ahead

Hi there,

You may have noticed a lot of news surrounding Binance lately, with several regulators paying more attention to our activities. Binance is the largest cryptoasset marketplace in the world by trading volume, so it is hard not to see why. However, we have seen an increasing amount of misinformation being spread about recent events so we’ve asked our CEO to clear the confusion, address the progress being made and how we envision our road ahead.

“When Binance launched four years ago, the crypto industry was still in its infancy - with few early adopters and no clear standards. Within a short period, the crypto environment has drastically grown and evolved: there are now more crypto offerings, an increasing number of first-time crypto users and a lot more attention and debates on how the crypto industry should move forward.

Given the recent hyper-focus on regulation when it comes to Binance, I would like to take this opportunity to share our historical background and principles, clarify our stance and commitment, and outline our approach and plans for regulations and the sustainable development of the crypto industry going forward….Read more here”

Important links:

Statement in regards to FCA UK Notice: https://twitter.com/binance/status/1409229415846981634
Statement in regards to Barclay's UK Notice: https://twitter.com/binance/status/1412147421291986946
We are working urgently to resume normal services, we appreciate all your patience and support.

Thank you for choosing Binance, the most trusted and secure cryptoasset platform.


From Santander
We’re stopping payments to Binance for your protection

We want to let you know that from 8 July 2021, we’ll be stopping payments from Santander accounts to Binance wherever possible. This follows the Financial Conduct Authority (FCA)’s recent warning to consumers and is to help protect you from fraud. For now, we won’t be restricting payments from Binance into your account(s).

We’re taking this step as we want to do everything we can to protect you and help keep your money safe. We’ll continue to monitor the situation, and let you know if anything changes.

Investment in crypto assets can be high risk
In recent months we have seen a large increase in customers in the UK becoming the victims of cryptocurrency fraud.

The FCA has also recently warned of the high risks associated with investment in crypto assets, and that money held in customers’ crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.

Got a question?
Our online security centre provides a range of tips on how you can protect yourself from scams, including cryptocurrency scams. You can also find further information on the FCA’s website.

If you need anything else, simply visit the support section on our website or contact us.

Kind regards

The Santander Team

open revolut or as I do Starling (as HSBC can ban you for cypto transactions to protect their vested interests). I always trnsfer HSBC to either Revolut or starling then to coinbase or Binance etc, and to withdraw either to Starling or paypal before withdrawing to HSBC

 

[beorhthelm]

open revolut or as I do Starling (as HSBC can ban you for cypto transactions to protect their vested interests). I always trnsfer HSBC to either Revolut or starling then to coinbase or Binance etc, and to withdraw either to Starling or paypal before withdrawing to HSBC

wouldnt trust Revolut, they have blocked or restricted transfers with exchanges. need to protect their on platform crypto business.

the safest (subject to substantial regulation change) is to have accounts on other exchanges, such as Kraken, Gemini (get along with regulators), Coinbase Pro and Bitstamp (no margin products). its the margin and lack of regulation that has made Binance a target.

 

[KeegansHairPiece]

From 20% down a few weeks ago, my small dabble is now 15% up. I need to work out some form of strategy though in my exchange trading.

 

[CheeseRolls]

The last 6 weeks have been really messy, with bitcoin crashing and everything else following. I am down almost a third, which means I now need 50% gains to break even. No panic, I have time as an ally fortunately.

My portfolio is now sprawling and there are a few for the chop, starting with SXP, where it now looks like a token burn isn't happening until September. I have been focussing on staking and experimenting with providing liquidity. Whilst this hasn't really stemmed my losses, I think it may be beneficial if and when things go into reverse.

I will figure this out.

3-2-1 back in the room.
6 weeks of doom
6 weeks to claw back into profit (just!)
Which way next?

 

[Argartu]

Which way next?

BTC's bounce up from $30k was so strong I'm thinking we'll be at a new ATH in a couple of weeks.

 

[CheeseRolls]

BTC's bounce up from $30k was so strong I'm thinking we'll be at a new ATH in a couple of weeks.

It is a possibility. Currently I am looking at all the hype around NFTs and the stupid money being thrown at some right old crap and wondering why anyone would get carried away over Bitcoin right now.
Anyone holding Ethereum can rub their hands together, as gas fees have now reached beyond extortionate. Anyone trying to stake Erc20 like I have been needs to switch to alternatives. This is not healthy.

 

[Super Steve Earle]

My little £500 taster in Cardano via Revolut earlier this year dropped to £483 after entry charges and plunged to £320 in no time. Back to £493 this morning. Feeling a bit happier although obviously looking to the longer term.

 

[Marshy]

My little £500 taster in Cardano via Revolut earlier this year dropped to £483 after entry charges and plunged to £320 in no time. Back to £493 this morning. Feeling a bit happier although obviously looking to the longer term.

Cardano ADA is a great choice, if I had any money more I would buy some.

If Bitcoin can get through $50-54k we are in business...

 

[Tyrone Biggums]

BTC's bounce up from $30k was so strong I'm thinking we'll be at a new ATH in a couple of weeks.

No chance in my opinion.

 

[Barnet Seagull]

Still a lot of uncertainty in my view although recent gains are welcome.

 

[Berty23]

This is quite interesting about the Leeds fan token and crypto. I bought some of the chz a while ago as a speculative punt that all sorts of clubs would get involved with this sort of thing.

https://www.thesquareball.net/blog/socios-app-leeds/

 

[KeegansHairPiece]

My holdings are something like:
Eth 30%
BTC 17%
ADA 15%
BNB 15%
ATOM 10%
XRP 5%
LUNA 5%
PROM 3%

Just went for a bit of a spread. Starting to dabble with exchanging rather than putting more capital in to try to make gains on exchange rates.

 

[Doc Lynam]

Joined the space about 4 years ago and leave will a very tidy profit, happy to be out to be honest.

Think there'll be a lot of people in the space that'll have addiction/gambling problems that'll come back to bite them; massive dopamine hit in price swings, trading access on the phone, up to 100x leverage, powerful mix there.

 

[Barnet Seagull]

Joined the space about 4 years ago and leave will a very tidy profit, happy to be out to be honest.

Think there'll be a lot of people in the space that'll have addiction/gambling problems that'll come back to bite them; massive dopamine hit in price swings, trading access on the phone, up to 100x leverage, powerful mix there.

I agree. Leverage is truly scary stuff and definitely something to steer well clear of. Any investment without guaranteed return (and I include shares as well as crypto in this) is a gamble and should be treated the same as going into a bookies and handing over your cash.

 

[Tom Hark Preston Park]

According to Buttcoin, number go up because they've started churning out unbacked Tether again. Sounds about right