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Cryptocurrency mega-thread

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Ryz said:
Thanks guys.

Gone with Swyftx at the mo, tried signing up to Biannce but the facial recognition scared me off.

Really need to do a crash course on investing, have NFI. Bought the first thing I saw and think it was a waste haha.
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coinmarketcap.com

Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap

Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins.
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Dogecoin is a complete shitshow as it has literally no value other than people speculating, but it's a fun ride. Otherwise a good starting base would be checking out coins sitting in the top 5-10 - USDT is USD Currency basically, so ignore that one if you want to buy Crypto.

BTC / ETH are by far the most heavily owned, so you probably want some of those, and then work out from there how speculative you want to be.
 
owen87 said:
coinmarketcap.com

Cryptocurrency Prices, Charts And Market Capitalizations | CoinMarketCap

Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins.
coinmarketcap.com coinmarketcap.com

Dogecoin is a complete shitshow as it has literally no value other than people speculating, but it's a fun ride. Otherwise a good starting base would be checking out coins sitting in the top 5-10 - USDT is USD Currency basically, so ignore that one if you want to buy Crypto.

BTC / ETH are by far the most heavily owned, so you probably want some of those, and then work out from there how speculative you want to be.
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Cheers mate. Will give that a solid read.

Got some Solana but with my zero economic knowledge assuming I may have bought too high. Only spending spare change for a bit of fun though.
 
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Ryz said:
Cheers mate. Will give that a solid read.

Got some Solana but with my zero economic knowledge have bought too high. Only spending spare change for a bit of fun though.
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Yeah, anyone who puts all their biscuits in to crypto is asking for trouble. Playing with spare change is a bit of fun, and the payoffs ‘could’ be massive given the ROI over time, so it’s a worthwhile space to be in even if you only buy BTC and ETH.
 
owen87 said:
Yeah, anyone who puts all their biscuits in to crypto is asking for trouble. Playing with spare change is a bit of fun, and the payoffs ‘could’ be massive given the ROI over time, so it’s a worthwhile space to be in even if you only buy BTC and ETH.
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Oh no doubt, say this with NFI but Crypto across the board seems pretty volatile. Switched over to ETH until I get my head around it all.

It's fun and very fascinating stuff though.
 

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Ryz said:
Oh no doubt, say this with NFI but Crypto across the board seems pretty volatile. Switched over to ETH until I get my head around it all.

It's fun and very fascinating stuff though.
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It's a lot of fun, and historic returns are way above the stock market, let alone bank interest. But the volatility is insane.

If it's money you don't need access to, the volatility is fine, but if it was a house deposit, whilst you might end up with 1000% the value in 12 months, you might also end up with 50% (or more) less than what you put in when you need to withdraw it.

A great ride though, it's the stock market on steroids.
 
Is there any particular service / site people use to easily calculate gain / loss on their portfolio? Both for tax purposes and trading purposes, it's not super easy to see on Binance at a glance as far as I can tell, you only get the 24hr performance of the coin not based on your average purchase price.

Stuff like cointracking.info charges ~ USD$130 to get access to the Binance API, and let's be honest, I don't want to have to run a CSV export every time I buy / sell / deposit so the API is pretty vital.

cointracker.io is another one, but the free plan only includes 25 trades, and even the AUD$89 one is only 100 trades so the next is AUD$279 to get 1000 trades.

I've seen Koinly around, and it appears free, but not sure what it does.
 
I heard somewhere that at present 60000+ new people each day (lately) have been entering the crypto market and that a recent survey showed 63% of all Americans are interested by it.
 

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owen87 said:
Is there any particular service / site people use to easily calculate gain / loss on their portfolio? Both for tax purposes and trading purposes, it's not super easy to see on Binance at a glance as far as I can tell, you only get the 24hr performance of the coin not based on your average purchase price.

Stuff like cointracking.info charges ~ USD$130 to get access to the Binance API, and let's be honest, I don't want to have to run a CSV export every time I buy / sell / deposit so the API is pretty vital.

cointracker.io is another one, but the free plan only includes 25 trades, and even the AUD$89 one is only 100 trades so the next is AUD$279 to get 1000 trades.

I've seen Koinly around, and it appears free, but not sure what it does.
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https://bitcoin.tax/ provides the cheapest tax service I've found.

You can download 3 months worth of trades from binance at a time in csv format, or let software do it via API. I wait until tax time then do it all at once. 10 minute job.
 
CoinGecko is free and you can set up multiple portfolios. Trades input manually which isn't a massive deal if you're more of a HODL'er than trader.

Quite user friendly also.
 
Bostonian said:
I heard somewhere that at present 60000+ new people each day (lately) have been entering the crypto market and that a recent survey showed 63% of all Americans are interested by it.
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it took crypto 12 years to reach 1 trillion market cap. the next trillion took 3 months this year. says it all
 

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Pretty big things to come here and really believe in this going forward.

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owen87 said:
Yeah, anyone who puts all their biscuits in to crypto is asking for trouble. Playing with spare change is a bit of fun, and the payoffs ‘could’ be massive given the ROI over time, so it’s a worthwhile space to be in even if you only buy BTC and ETH.
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Just my opinion, no-one ever buy things cause of me lol.
But I think the de-fi space will become less volatile pretty quickly. Eth is a pretty safe investment I think.
When the cycle is over just stake all the defi apps.
When the crash comes, they'll still crash but not like everything else. Cause people will put there money in stable coins earn interest on defi and wait for the bottom.
 
Ryz said:
Hey fellas, what's a good exchange for beginners with NFI about Crypto? Pref one with low fees and Aussie too. Initially keen to do this just for fun and get my head around it all.
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I like crypto.com for buying. Has a ton of coins and no minimum buys.
But they have minimum transfers though.
Coinbase is really easy to use, no min buys or minimum sends but not as many coins.
Use Nexo and Celsius for staking.
 
Also you can get 30-40$ free crypto on coinbase when you sign up. Just have to watch a few videos. Don't have to deposit anything.
 

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