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nazarevichpetrenko's avatar

Cryptocurrency exchanger?

Asked by nazarevichpetrenko (4points) 2 weeks ago

Good afternoon, I want to ask. Has anyone already bought or sold bitcoins? Is it possible to make money on them or is it too late? Perhaps you know some worthy services? Please tell me.

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9 Answers

zenvelo's avatar

Crypto currencies are, for the most part, unregulated. There is no assurance that one is getting the best price in a crypto transaction.

It is possible to make money on various cryptos because they continue to be bought and sold. But you have to do your own research on which one may be the best to buy at any given time, and decide for yourself how long you will hold it, and at what prices you will sell, either to make a profit or to minimize losses.

There are a lot of crypto exchanges. Read some of the crypto bulletin boards to get a sense of which ones are trustworthy.

gondwanalon's avatar

I never bought any cryptocurrencies. There’s now at least 30 different cryptocurrencies. I think Bitcoin is not likely a good investment now at $55,055 per coin and falling in price. If I was going to buy some cryptocurrency I buy a few hundred of “Doge coin” which is now selling for $0.28 per coin. Why? No good reason other than it can’t get much lower.

There’s a good article in The Wall Street Journal, Tuesday April 20, 2021 “Diving into Bitcoin”. How investors are investing in crypto. Has good strategies and advice.

Good luck!

Smashley's avatar

@gondwanalon – Two months ago, DOGE was trading at less that $0.01, I’d say it can go lower.

gondwanalon's avatar

@Smashley WOW a 27 cent difference!

No one knows the future in investing and crypto investments are about as crazy as it gets.
But if someone bought 500 “dog” coins at $0.28 a coin and the value increased to $500 per dog coin then the investment total value would be at $70,000.

Mimishu1995's avatar

A side note: Bitcoin is currently being criticized for damaging the environment. A lot of people are now turning away from Bitcoin for that reason.

Smashley's avatar

@gondwanalon – I’m pointing out that DOGE being worth more than dirt is a very new phenomenon in its lifespan, and that only happened because a rich guy tweeted about it. Someone who bought 500 could also be down 125 bucks in about five minutes. Lottery tickets offer good returns too you know; they only cost a dollar but you could WIN TEN MILLION!!!

Smashley's avatar

@gondwanalon O RLY? That sounds almost like something true, except it isn’t.

Smashley's avatar

You’re reading the circulating supply number: 129.3 billion. Yeah, that number will always go up. There is no cap on DOGE mining.

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