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Stellar Lumens XLM worth a punt. Used in Asia, Japan loves em. Think it will moon shot soon.
GLA
Awesome responses people ... thanks so much for taking the time to respond. I now have much more to research over the weekend and with BTC in a dip , never a better time to buy.
Let’s hope for a great day ahead here, although one day doesn’t matter I t he overall scheme of things, with today being the general meeting it should be one of those days that can make a big difference.
Thanks mayke, that makes sense.
@unix83, if you get a hardware wallet, you don't need to worry about losing it or breaking it. It does not store your coins (which are actually on the public blockchain), rather it generates (from 24 random words that you MUST keep safe) , a set of private keys for all of your different crypto assets. On a day to day basis you access it with a PIN number, but if you lose the device you can just get a new one and prime it with your 24 word seed.
This is one of the unique things about crypto: if you can remember 24 words you can effectively store billions of dollars in your head (although I wouldn't recommend it!)
Fascinatingly unconfiscatable!
My mates into XRP big time and swears it’s the next big this. I’m not too convinced myself.
Out of interest, can I store online and a hard copy? Hard copy sounds a bit more easy to lose or break.
Hi Tommy. Nano is on binance but it is not paired with GBP, so you would need to buy BTC first then trade for Nano.
Altinvestor makes an excellent point, get yourself a Ledger hardware wallet (wallet is actually a poor description, as it actually holds the private keys that assert your ownership of crypto funds - but it trips off the tongue better than "private cryptographic key storage and transaction signing device".
As coincollector says, XLM is another project I have a lot of time for, quietly getting on with building stuff and growing.
@TTD;
FWIW I would consider myself a LTHodler of BTC, DOT & ADA, basically for the reasons already given.
Also XLM as I see potential for continued growth as it 'lubricates global Stablecoin transactions'.
Usually hold POLY, but recently jumped ship to BTC with that (good gain POLY/BTC, so hoping to ride BTC back up and retake POLY with some excess BTC left over....)
I've wanged on about this 'supply chain management' token a few times so I'll out it here; VET (VeChain) - I see good potential for this if it gets taken up by one of the big players in supply chain, and my perception is that the industry is ripe for BlockTech to drag into the future.... [But what do I know?].
I also like Enjin & Phala, but need to read up more on them really.. I'm holding some currently, but that's probably in equal measure so that I can 'keep an eye on them', because I like what I've already found out, and the, err, tokens have cool colour schemes (....not investing advice?!).
I will also happily spend a few hours just jumping in and out of things trying to turn a starting lump of money into a bigger finishing lump of money.... It's more fun than gaming?!
As already said (and I'm sure you already know) - the more you read the more you understand. It's a huge market, and goes far beyond just 'currencies'.
Enjoy!
CC
NANO, good choice, but get yourself a cold wallet, the wallet called nault can be managed via a ledger nano where your private keys are stored safely offline, no point in buying crypto unless you have security.
Tommy also take a look at Cardano currently #3 crypto on the market with a $39 Billion MC
I've also just started buying on Binance
GL
Ld
Excellent advice Mayke.
hey unix - thanks for the response ... I dont see NANO on binance ... thats not me being thick is it?
Thanks mayke - happy to be one of your first posts on here. nano is new to me so i will read/investigate further
Yes I’m in nano, it’s one of the only ones that make a lot of sense to me. Only 500m market cap ATM. Once it gets near the top 10 it should grow massively IMO. Even getting there is x10 it’s price now. DYOR
I've been in crypto since 2013. I paid off my first mortgage with gains in 2018 and held on to a significant amount.
My first piece of advice about crypto is don't listen to anyone on reddit about how to invest (but do use reddit to learn about the tech) . Second piece of advice, don't invest unless and until you understand (in at least a rudimentary way) the underlying tech behind a particular coin, how a blockchain works, difference between proof of work and proof of stake, consensus mechanisms, etc. You don't need to be a programmer (I'm not) but you need to do a bit of reading or it's just plucking names out of a hat and probably getting someone's heavy bags dumped on you.
FWIW, my main holdings are (with rationale in brackets):-
BTC (proven 'deflationary' store of value)
ETH and ADA (smart contract substrata)
NANO (only crypto that is totally fee-less to transact and hence actually usable as a global payment currency unless you can be bothered with IOTA which doesn't have anything like as slick tech yet)
Of these, NANO is the only one that still has a (very, very small) chance of appreciating 1000x or more. I don't know anyone who has seen the tech in action, transferring value for free in less than a second, that hasn't instantly become a convert. There is a helpful reddit nanocurrency sub, and you can get sent nano for free from one of the Nano faucets so you can try out the wallets etc.
But (really, I mean it) do your own research and good luck
Awesome - thanks for the suggestions and the reminder around DOT and KR1 so thanks for that Kath, Hod and fruits and veg. I think I will also allocate some cash for KR1 as I finally have a small position there. I look forward to checking out the reading suggestions also ... there is so much out there it can be quite overwhelming cant it ... always good to get some tips from peeps in the know.
Agree again on DOT/Web 3.0, I'm heavily invested in KR1 for that reason. DOT held up well against the BTC falls recently so they don't always go hand in hand which is good.
These pieces were excellent reading on DOT and KR1:
https://hackernoon.com/why-im-bullish-on-polkadot-and-the-dollardot-ecosystem-ce2j3331
https://wexboy.wordpress.com/2020/11/21/kr1-plc-the-crypto-alpha-bet/
Looks like a reasonable spread. Agree with fruitsnveg re DOT that's my second biggest position next to BTC. I am a member of Skill Incubator community - check out We Talk Money Youtube channel https://wetalkmoney.com/is-inflation-about-to-rattle-the-markets-wtm-ep-045/ - they are the people behind Skill Inc - cover both Stocks and Shares. They may not be your cup of tea but they are very knowledgeable and US focus for stocks which is working for me. Not cheap subscription but it has served me well the last 4 years. https://skillincubator.com/ No commission for referrals sadly ;0)
Afternoon Tommy,
My money would go on DOT for the long term. A couple of things set it apart, governance, architecture - would advise you do some research online. I can't comment on others as not invested in them, and probably won't. GL.
Hi All. I have always appreciated and respected many people posting here and there are many people who are knowledgable on crypto and I just wnated to pick their brains a little if I may.
I have now deposited my first £500 on binance and am ready to start trading crypto. If you were me and it is your first time, what would you be most likely to do? Please dont say stick it in ARB as I currently have about 80,000 shares, so I feel that it is wise to at least fish in other waters too. Equally if you see the folly of my ways please do let me know (kindly).
My current thinking is that over the space of the next few weeks with more and more deposits I will be investing in the following with equal GBP amounts: BTC, ETH, ADA and DOT. Thoughts?
Also if you can recommend any other good sources of info I currently subscribe to crytosrus, mmcrypto, conquertrading and of course blonity and funky finance.
Thanks in advance.