Crypto Investing Advice - Noob Questions

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Forums › Finance and wealth management › Crypto Investing Advice - Noob Questions

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ANglEAUT

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#2770808 2-Sep-2021 20:38

Rmani: Will create a separate thread, thanks :)

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ANglEAUT

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#2770814 2-Sep-2021 20:46

tchart: ... This is a learning excercise for the kids so not really "investing" and would only be tens of dollars.

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Rmani

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#2805643 1-Nov-2021 17:40

Has anyone invested in SHIB?

Rmani

LostBoyNZ

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#2805723 1-Nov-2021 20:30

tchart:

Hi

My kids have been using sharesies for a while now. My more tech orientated kid wants to now invest in crypto (so just buy/sell not mining).

Whats the best/easiest way to do this from NZ? Do I just get signed up on something like crypto.com? Or is the more to it eg do we need to use a NZ platform for exchanging real money to crypto and vice versa?

Thanks

Just to add another option to the mix, personally I used BitPrime which is a New Zealand company and I use Jaxx Liberty as my wallet. I found both easy to use.

scoobydoo

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#2820063 26-Nov-2021 22:07

Rmani:

Has anyone invested in SHIB?

Yes, I have, and I used Swyftx to purchase

dacraka

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#2820077 26-Nov-2021 22:43

How has their investment gone so far? If they invested in BTC back then, it’s up compared to then. What coin(s) did they choose in the end?

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darylblake

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#2820103 27-Nov-2021 08:08

timmmay:

Investing?! Crypto is more like gambling. There's a big chance you lose your money, and a small chance you make a lot of money.

I somewhat dis-agree. It is a new asset class. It is more volatile, but less and less so as time goes on. I dare say we will be using some type of stable coin as a dollar replacement in the next 10 years. And crypto is a great way to send money around the world avoid slow international money transfers.

Now that being said as an "Asset" class. It probably good to set a limit on how much you actually plan to put into crypto. For example 5% or 10% of any investment portfolio.

That should help you set your limits.

Set up a Binance account and work from there. And don't put anything in that you can't afford to lose. I have done ok from crypto. But if I lost it all tomorrow life would go on.

I also record all my transactions in coinmarketcap portfolio. So tax will not be difficult time.

I will not tell you what to buy, and this is not financial advice. These are the boundaries and methods I set myself.

However most of the meme coins are not good purchases at all, ever I would consider them gambling (this is where we agree Timmmay). And the "gaming" crypto at the moment appears to be bubbled up way above what its actually worth. Many of these projects have not even launched yet and they have market caps the size of world of warcraft..

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