[MashinBenzin]

Originally Posted by dopper99

MashinBenzin you say about opening multiple trades, but surely etoro is taking their spread ("commission") on each of these trades? How is it better to have multiple trades?

Genuinely interested to know as I'm having a dabble on there.

The spread doesn't change. It's a fixed (at that point in time) difference between the buy and sell prices. Same percentage whether it's a $200 trade or a $600 one. Whenever you buy, you're initially that percentage in the red, whenever you sell you either pay the spread to get back in or hope the market moves your way.

Let's say you have 1x $600 trade and it doubles in value. You can only realise part of that profit by closing the entire trade. You then have to buy back in to stay invested. With 3x $200 trades you can choose to close one to bank some profit and leave the other two open hoping to accumulate further.

[MashinBenzin]

Originally Posted by MickyD'bo

What's multiple trades mean? I'm going to lose some cash aren't I?

It's definitely not a certain win the other thing that piecemeal/multiple trades gives you is the chance to buy extra units at a lower price in a falling market.

This relies on keeping some money back and not investing your whole amount immediately. I have a couple of cryptos that are overall profitable, but with one older trade in the red and one newer one in the green. Today's been a good day moving everything green.

It's been said before...only invest what you are willing to lose. I put a few hundred in and then banked profits within 48/72 hours - simply because I am not willing to risk much. I've reinvested the profits since and done ok. If I'd left my original trades alone I would be much better off, but that was the level of risk/commitment that I was happy with.

[Darth Helmut]

Originally Posted by MickyD'bo

Right. Just signed up to etoro. Wow. Erm. Okay. Who the hell should I copy? Darth Helmut can I copy you? You seem to be nailing this stuff. What's your name on there?

I can't actually trade yet until I complete my profile and what not.

Exciting. And a bit scary.

I'm not on etoro mate. Just an account with Bitstamp. Luck rather than any judgement whatsoever! Just happened to jump in before the Nov/Dec hikes. (bought 15,000 xrp @ 0.17p for about £3,000 but sold £500 back when it went up to 0.50p to test the transfer back). Sat with 14,801 XRP

I'm holding out on XRP with the hope it'll get in to double figures this year. I set myself a bit of a target at which point I'll sell (well, my initial target was to make 10k but that arrived some weeks ago and is up to £24k )

I'm reading good things about XRP for this year due to how the Japanese and Korean financial houses are jumping on to it (for its original use). Its stabilised for now so if you can, buy a bundle. I also have 0.29 of BTC which I bought for £3600 or so and thats giving a very nice return (worth £3400 from a £1k bung). I had a spare £50 in cash in the Bitstamp account and bought some Etherium and even thats given me £11.35 back so far

I'm resisting selling when it seems to peak and holding on for the longer run. If it hits £10 per XRP, I will be a rather happy chap.

[Hooded]

I think xrp can reach maybe $10 this year if we're lucky. Any higher is going to be difficult considering the market cap will be a lot higher than bitcoins currently is for it to reach $10.

Tron (TRX) might be an even better crypto investment opportunity for 2018, it's up 50% in the last 24 hours and it's current market cap can grow by nearly 50x before it surpasses bitcoins current market cap or almost 20x to surpass xrp' current market cap.

[MashinBenzin]

@MickyD'bo I didn't copy anyone on etoro, just used the search function to find coins and opened my own trades.

Search for XRP (ripple), ETH (ethereum), BTC (bitcoin)for the main ones discussed in this thread. I also have some LTC (lite coin) and DASH. I've made money off all of them since starting on 19 December except for bitcoin which I am breakeven on.

Etoro also sells BCH and ETC - bitcoin cash and ethereum classics, but I haven't dabbled in either as I don't understand their proposition.

For other altcoins such as verge, trim, iota, monero then you will need a different platform, I haven't bothered.

[MickyD'bo]

Originally Posted by Darth Helmut

I'm not on etoro mate. Just an account with Bitstamp. Luck rather than any judgement whatsoever! Just happened to jump in before the Nov/Dec hikes. (bought 15,000 xrp @ 0.17p for about £3,000 but sold £500 back when it went up to 0.50p to test the transfer back). Sat with 14,801 XRP

I'm holding out on XRP with the hope it'll get in to double figures this year. I set myself a bit of a target at which point I'll sell (well, my initial target was to make 10k but that arrived some weeks ago and is up to £24k )

I'm reading good things about XRP for this year due to how the Japanese and Korean financial houses are jumping on to it (for its original use). Its stabilised for now so if you can, buy a bundle. I also have 0.29 of BTC which I bought for £3600 or so and thats giving a very nice return (worth £3400 from a £1k bung). I had a spare £50 in cash in the Bitstamp account and bought some Etherium and even thats given me £11.35 back so far

I'm resisting selling when it seems to peak and holding on for the longer run. If it hits £10 per XRP, I will be a rather happy chap.

Wow. Cheers Darth. I'm going start dabbling from today.

[MickyD'bo]

Originally Posted by MashinBenzin

@MickyD'bo I didn't copy anyone on etoro, just used the search function to find coins and opened my own trades.

Search for XRP (ripple), ETH (ethereum), BTC (bitcoin)for the main ones discussed in this thread. I also have some LTC (lite coin) and DASH. I've made money off all of them since starting on 19 December except for bitcoin which I am breakeven on.

Etoro also sells BCH and ETC - bitcoin cash and ethereum classics, but I haven't dabbled in either as I don't understand their proposition.

For other altcoins such as verge, trim, iota, monero then you will need a different platform, I haven't bothered.

Great advice too cheers.

[MashinBenzin]

By the way, for anyone thinking of joining in investing, I'll share my observations on time of day to invest. This is not (obviously) a certain science, just patterns that I have observed that apply more often than not.

Cryptos are incredibly volatile and even a day with huge growth will usually see sustained spells of price drops for an hour or two when profit taking happens. This could mean a difference of -/+ 5% or more to your size of holding at the moment that you invest.

I've seen most profit taking drops occur at the start of the UK and US days - think 7am-9am and midday to 4pm our time. Rallies and price increases tend to occur at the times after these drops. Asian markets have a similar pattern but we are asleep then. Basically, a bunch of people wake up, see large rises and choose to bank some of that by selling.

This is only based on three weeks of watching including a quiet holiday period, but just thought it worth mentioning.

The UK hasn't done much selling today so far, but this ethereum price chart shows the pattern I am trying to describe. Each coloured candle is a half hour period. A long red candle means a big drop over that half hour. The simple (ha ha) job is to buy near the bottom price for the day. Good luck!

ETA - this also nice shows the sell/buy price spread.

[gr4z]

XRP is currently sitting at $2.40 this morning. Are we too late to take a punt? With all the media going overboard with Ripple I can only think it will go up over the next few months.

[MashinBenzin]

Originally Posted by gr4z

XRP is currently sitting at $2.40 this morning. Are we too late to take a punt? With all the media going overboard with Ripple I can only think it will go up over the next few months.

I wouldn't say it's too late, but if it was me I would spread the investment (if budget allows) to other coins as well, or drip feed it if xrp alone.

I bought an extra trade last week at 1.07 thinking it was probably too late for quick profits.

XRP is up 20% since we discussed it on here last night.

A lot of people speculate that the price can hit double figures. That speculation itself and the fact that a lot of people are still thinking of joining in (as shown on this small Audi sub-forum) should drive prices higher.

The market cap will be huge, but the potential for every bank to come on board is a big one.

Current etoro chart:

[nordberg]

What are you guys using for other coins? Etoro has a limited choice and I'm keen to buy some TRON and XLM. I know of Coinbase, but I also understand their pricy when it comes to transactions...

[MickyD'bo]

Originally Posted by nordberg

What are you guys using for other coins? Etoro has a limited choice and I'm keen to buy some TRON and XLM. I know of Coinbase, but I also understand their pricy when it comes to transactions...

Me too. Same question.

[Darth Helmut]

Originally Posted by nordberg

What are you guys using for other coins? Etoro has a limited choice and I'm keen to buy some TRON and XLM. I know of Coinbase, but I also understand their pricy when it comes to transactions...

I think its like a horse race. BTC, ETH, XRP and LTC are the 'favourites' but there are a multitude of others worth a punt. A spread across a handful could give a good return.

Coingecko is a good site to have a gander at how the prices of pretty much any are going. As with a horse race, it is mainly down to how the nag does on the day and is based on 80% luck!

[225]

Right then complete newbie here so does this sound sensible?..

I am going to get a rippex wallet for now on pc and probably order a hardware one.

I am thinking of starting with bitstamp to buy some xrp and assume I can just transfer cash into this and buy xrp, should I wish to sell it use it to sell and transfer cash out?

Or....

I need to study etoro but would that be better starting place? looks like you can use paypal to deposit and withdraw into is this a good option?

[gr4z]

Got some XRP at 2.33USD. Quite high but rumours more banks about announce support for it. Worth a punt.

[MashinBenzin]

Originally Posted by 225

Right then complete newbie here so does this sound sensible?..

I am going to get a rippex wallet for now on pc and probably order a hardware one.

I am thinking of starting with bitstamp to buy some xrp and assume I can just transfer cash into this and buy xrp, should I wish to sell it use it to sell and transfer cash out?

Or....

I need to study etoro but would that be better starting place? looks like you can use paypal to deposit and withdraw into is this a good option?

I found eToro a very simple place to start. Fast too, you can be investing pretty much immediately. Paying by credit card is simple and my withdrawal was processed quickly. I'd recommend it as a starter to get a feel for things, there's nothing to stop you switching to other platforms later - only the spread is really at stake in that decision.

I agree with Darth Helmut on the main horses in the race. Much bigger gains available elsewhere on lesser known coins, but arguably higher chances of it all turning to dust too. Everything on eToro is well established as cryptos go.

[Darth Helmut]

Originally Posted by 225

Right then complete newbie here so does this sound sensible?..

I am going to get a rippex wallet for now on pc and probably order a hardware one.

I am thinking of starting with bitstamp to buy some xrp and assume I can just transfer cash into this and buy xrp, should I wish to sell it use it to sell and transfer cash out?

Or....

I need to study etoro but would that be better starting place? looks like you can use paypal to deposit and withdraw into is this a good option?

Thats correct with Bitstamp. Transfer via IBAN to your Bitstamp account, buy what ever you want. When you sell, you can either leave the balance in Bitstamp to buy others or wire transfer it back to bank.

gr4z . Good to buy XRP now but as MashinBenzin suggests, there are peaks and troughs during each day. Just luck of the draw if you hit it at the right time. Dont worry too much about the price. I was twitchy when I bought at 0.17p as it had sat at 0.14p for ages. $2.33 will become irrelevant when its sat up at $5 or $10

[ajfoggy]

Originally Posted by MashinBenzin

I found eToro a very simple place to start. Fast too, you can be investing pretty much immediately. Paying by credit card is simple and my withdrawal was processed quickly. I'd recommend it as a starter to get a feel for things, there's nothing to stop you switching to other platforms later - only the spread is really at stake in that decision.

I agree with Darth Helmut on the main horses in the race. Much bigger gains available elsewhere on lesser known coins, but arguably higher chances of it all turning to dust too. Everything on eToro is well established as cryptos go.

The other good thing about etoro is they take an average of multiple exchanges which means you are guarded to a certain extent against a crypto crashing on one exchange, which has happened a few times in the past.

[gr4z]

Looking at getting some other smaller coins. If they are not on Coinbase, Binance etc any other exchanges recommended? Cryptopia is one that some coins I would like are traded on, but online reviews are poor so you are kind of stuck.

[nordberg]

Originally Posted by gr4z

Looking at getting some other smaller coins. If they are not on Coinbase, Binance etc any other exchanges recommended? Cryptopia is one that some coins I would like are traded on, but online reviews are poor so you are kind of stuck.

Same here and I'm currently waiting for ID verification on Coinbase - all the while my targeted coin is going up exponentially! Grrrr....

Whilst eToro is good for testing the water, I'm already getting frustrated with some of the "features". In particular, the inability to disable TP is pissing me off - hence me looking to setup a proper offline wallet with the help of Coinbase/Binance etc....

[Hooded]

Originally Posted by nordberg

Same here and I'm currently waiting for ID verification on Coinbase - all the while my targeted coin is going up exponentially! Grrrr....

Whilst eToro is good for testing the water, I'm already getting frustrated with some of the "features". In particular, the inability to disable TP is pissing me off - hence me looking to setup a proper offline wallet with the help of Coinbase/Binance etc....

I'm currently having trouble getting coinbase to verify my drivers licence with their crap photo app thing. Looking online quite a few people are having trouble at the moment.

I found this guide for buying and holding Tron

https://getcrypto.info/tron/#skiptocoinexchange

[JLR1969]

This all reminds me of the hype around oil exploration companies about 7 years ago.

Everyone bought into the hype and so the prices shot up, more hype more members of the public got sucked in.

Then the real city traders jumped out and it all dropped, the public got scared jumped out so the city traders pumped up the price again.

This happened for a few years as they took profits at the expense of Joe Public and then the price of oil crashed and shares that were worth £4 dropped to 60p

The only winners were the city traders and those in the know.

I appreciate that it's not identical but the hype is and greed and hope can and will get the better of a lot of people on here, not everyone but a lot.

I personally lost a lot on oil shares and have long since become a low low risk investor.

I know it's been said but be prepared to lose everything