How do I invest in crypto

[Dazinoz]

1 hour ago, rwill said:

Caleb & Brown is a good crypto broker.  5% is normal commission with them.  They are based in Australia.  You have to do some basic ID stuff to open an account with them.

I use Swyftx in Australia, 0.6%

[Dazinoz]

12 minutes ago, allanos said:

he depth of ignorance about crypto can be astonishing. Those that care to know nothing about it tend to shout it down the loudest.

Exactly. I just had someone tell me he didn't trust a string of numbers on his HD because one day it will crash then you have lost everything. Proceeded to tell me he has done NO research on crypto but then went on to tell em how bad it is and how governments will shut down internet to stop it.

 

15 minutes ago, allanos said:

 

Bitcoin may well be the Face Book of financial networking. It now has momentum. Do I want to get on the train whilst it is still at the station and yet to get going? I'm already on board, with 200% profit and looking forward to the ride to come!

I just sold my 0.933 BTC for $31,000aud profit but I bought back in when I could buy 1+ back. Why? Don't know but >1 was a physiological barrier for me. One of my other cryptos, Cardano is up 300%

[Dazinoz]

2 hours ago, bbabythai said:

When btc goes above 100k a coin you are going to kick yourself for taking such small profits

Ah, you didn't read a later post where I said I bought back plus a little more.

[talahtnut]

8 hours ago, 1FinickyOne said:

and where would you go to look for it? 

 

i agree... I will sit this fad out...

Well said, you can look for it anywhere, auctions, internet, for sale boards, even scrap yards.

I bought an old car in a scrap yard for £115, used it for 2 years and sold it at auction for £4000.

Bought an art deco lamp from Collingbournes auction Pattaya for 4000 tbh and sold it in UK

for £1200. Cant lose, and lots of fun.

 

[mr mr]

3 hours ago, rwill said:

I bought some Doge but then when it went up I couldn't do anything with it.  All the exchanges were overloaded by it.  When I finally could do anything the next morning it was barely above where I had bought it at.  So you probably didn't miss anything.

 

binance ? plus vpn if you are in america. 

[1FinickyOne]

30 minutes ago, talahtnut said:

Well said, you can look for it anywhere, auctions, internet, for sale boards, even scrap yards.

I bought an old car in a scrap yard for £115, used it for 2 years and sold it at auction for £4000.

Bought an art deco lamp from Collingbournes auction Pattaya for 4000 tbh and sold it in UK

for £1200. Cant lose, and lots of fun.

 

not sure what this has to do w/bitcoin, but good stories... I was an antiques dealer way back when, when it was fun. 

[sampson]

2 hours ago, allanos said:

The depth of ignorance about crypto can be astonishing. Those that care to know nothing about it tend to shout it down the loudest.

 

Crypto and digital currencies are the future. Paper money is the past. Crypto fiat is on its way in China, and Christine Lagarde of the ECB has recently stated that they are starting to develop crypto currency for the Euro Zone. Expect something similar from Janet Yellen.

 

This doesn't mean that they will give the green light to Bitcoin, but some lesser central banks may start to employ it.  Pakistan has diverted some government funds to mine Bitcoin, an interesting move.

 

I agree that Bitcoin is a speculative venture. But why would I argue against such luminaries as Pay Pal, with over 300 million customers, or Grey Scale,

or punters like Goldman Sachs and JP Morgan?

 

Bitcoin may well be the Face Book of financial networking. It now has momentum. Do I want to get on the train whilst it is still at the station and yet to get going? I'm already on board, with 200% profit and looking forward to the ride to come!

 

Friend of mine is an accountant and he finds new Crypto customers through a popular messaging app where it is discussed.   First client who came to him from there needed to get his affairs in order, after a painstaking process of piecing together all the transactions the profit was over £9M.  Fair bit of tax to pay and some penalties will be due as it spanned multiple years but as he put it "I'm sure he can afford a little bit of interest"

[Dazinoz]

2 minutes ago, sampson said:

 

Friend of mine is an accountant and he finds new Crypto customers through a popular messaging app where it is discussed.   First client who came to him from there needed to get his affairs in order, after a painstaking process of piecing together all the transactions the profit was over £9M.  Fair bit of tax to pay and some penalties will be due as it spanned multiple years but as he put it "I'm sure he can afford a little bit of interest"

I am finding record keeping to be difficult. I bought and sold many cryptos over the last couple of years. With the blockchain fees in the crypto and exchange fees in $s plus I play with freebitcoin website so past record keeping has been dismal for me.  This year will be the first time in around 47 years I will have to pay tax at tax return time. But hey I made a profit so can be expected.

[GreasyFingers]

30 minutes ago, Dazinoz said:

am finding record keeping to be difficult.

Use a pencil and paper book. When needed you change the entries.

[APJ291]

I suggest that you read up and join a few exchanges.  Just make sure you have all your documents in place for KYC (Know Your Customer), these will include Passport or Driving Licence IDs as well as Bank/CreditCard Statements (amounts blanked out).  Have a play around with all of them and read up about maker/taker fees.  I use a fair few myself including Coins.ph (Bitcoin & THB only) that is based here (they also are based in Philippines as Coins.ph).

Register most if not all of them using your own home countries ID.  This will give you better protection and some form of security.  Below is a list of a good few;

Binance

Bitfinex

Bitstamp

CEX.io

Coinbase & Coinbase Pro
Gemini

Crypto.com
Kraken

Kucoin
Poloniex

StormGain

Most of the exchanges above are decent, and if you make some gains/profits you can always pump them back into your registered bank account back home and avoid coins.th due to higher fees.  Then just simply use. company like "TransferWise" to move your funds into a Thai bank account.  Works for me best etc. 

I would also like to add that it is well worth using a VPN as well so you can trade in certain coins like XRP where trading is suspended to US customer at the moment due to SEC investigation into Ripple.

Its quite a long drawn process to create accounts to begin with, but its much better afterwards when you can then start trading and have a great choice of platforms to play around with until you are fully confident.  Some platforms like Binance and Kraken offer online videos, documentation and classes to teach you more about the crypto world and scheme of things.  Others like StormGain even offer a demo mode to play around with.  Most of the exchanges can also be accessed via Mobile Apps once you have registered and are up and running.

Others may agree or disagree with the above about what exchanges are best, but the above list should keep you busy whilst you investigate the Crypto world and its inner dealing and workings.
 

[APJ291]

I would also add to my last post that its also well worth it to invest in a Crypto Hardware wallet over a Software based one to store your coins and tokens when not trading.  Most of the big exchanges to have some financial cover for storing your funds, due to some exchanges that have been hacked in the past.

Again choosing a hardware or software wallet will also require a small bit of your time researching them and the security features they offer and finding what is best suited for your trading needs.

 

Ledger and Trezor and 2 examples of Hardware wallets, and I personally use the Ledger.

Ledger received bad press of late due to a data breach of customers details through a 3rd party company that sold them, ie email addresses and home delivery addresses, but nothing about their crypto finances as this was not compromised as they are these crypto financial details stored on blockchains as they are completely independent of your customer details like delivery addresses.  

 

However, users were still annoyed and fuming as details were leaked as a good few people that own them with the results of getting spamming/phishing emails after the breach as well as the fear of criminals turning up at their houses demanding money etc.  I purchased my Ledger a few years back via Amazon and not Ledger directly or a 3rd party reseller so was not affected by this breach but completely understand peoples paranoia and anger over the breach.  Ledger have assured new customers now that this should not affect them when purchasing directly from Ledger themselves or big 3rd party websites like Amazon.  

 

Again please do research before hand before choosing a Hardware Wallet.

[Don Chance]

20 hours ago, ChakaKhan said:

Some say the way to go is Solar--AI-and electric cars.......as GM has locked into it(latter)..or what would be your picks?

3033 Hong Kong  CSOP Hang Seng TECH Index ETF

 

Or some ARK, K,F,G.  Can't go long for along term holds.

[ikke1959]

I use Bitvavo.com easy to handle and low costs.

[ChakaKhan]

2 hours ago, ikke1959 said:

I use Bitvavo.com easy to handle and low costs.

Sounds like the newbie freelancer I found wandering around loy kroh rd after midnight  ????

[MadMac]

Don't forget the decentralised ones. First on the list should be Uniswap.

[Chivas]

Whilst coin exchanges were crashing yesterday over the XRP pump and dump Revolut sailed along (who I recommended earlier in the thread)....

 

Instant one touch selling on 3 occasions (and buying) and ended up 162% up from Tuesday of last week until midday (GMT) yesterday. I had initially thought their dealing charges were slightly higher than the norm but judging from comments yesterday they're clearly not and in fact middle range

[l4ml4m]

who is behind Coins.co.th in Thailand ?

 

[allanos]

Treasury Secretary Mnuchin, not a fan of crypto, set a short time frame for interested parties to make representations regarding crypto. He had mooted that verification was going to be required for off-exchange transactions involving more than USD $3000.00 and a stronger verification where $ 10 000.00 was exceeded. That is, for people using hard or cold wallets, etc. to store their crypto and make transactions from them.

 

The new Biden administration has extended the representation period by a further 60 days, now, according to the US Fincen.

 

As to verification of large sums being transferred, the intention is to cut down on terrorist financing and AML, which would seem to be noble enough to me. After all, a transfer of $ 10 000.00 of fiat has long been flagged for further investigation by US Treasury agents.

 

The most recent on-chain analysis which has been published, however, says that only 3% of Bitcoin transactions in the period were done for nefarious purposes.  On the other hand, billions of dollars of fiat were used!

 

Should new regulations be implemented in the above regard, or something similar, they also may go a long way to easing the fears of

both Christine Lagarde of the European Bank, and Janet Yellen, incoming chairman of the Fed.

[WebGuy]

Go to the bitkub thailand site and familiarize yourself with the content

[petedk]

On 2/3/2021 at 2:42 AM, WebGuy said:

Go to the bitkub thailand site and familiarize yourself with the content

 

I have tried signing up a couple of times, but receive a message that they are not accepting new registrations at this time

 

[l4ml4m]

On 2/2/2021 at 1:31 PM, l4ml4m said:

who is behind Coins.co.th in Thailand ?

 

 

 

no idea who is behind the coins websites in Thailand ?

 

 

[APJ291]

3 hours ago, l4ml4m said:

 

 

no idea who is behind the coins websites in Thailand ?

 

 

Just done a quick look on the net and found in the second article that coins.co.th is the sister company of coins.ph (Philippines).  Initially setup by 2 guys called Ron Hose & Runar Petursson.  Both companies were setup in 2014.

1st Article on coins.ph
https://www.bworldonline.com/sparkup-sparkfluencers-ron-hose-is-sticking-with-his-prepaid-phone-lessons-from-the-founder-of-coins-ph/

2nd Article is basically a review about coins.co.th and briefly mansions that it is a sister company of coins.ph

https://www.bestbitcoinexchange.net/en/coins-co-th/

Another old interesting article

https://www.bangkokpost.com/business/1736191/sec-warns-over-crypto-trader-investment-scams

One of the exchanges in this article has actually ceased trading...  (www.bx.in.th)

[l4ml4m]

On 2/5/2021 at 8:02 AM, petedk said:

 

I have tried signing up a couple of times, but receive a message that they are not accepting new registrations at this time

 

 

 

so it's true ? and do we know why ?

 

[rimmae2]

2 hours ago, APJ291 said:

Just done a quick look on the net and found in the second article that coins.co.th is the sister company of coins.ph (Philippines).  Initially setup by 2 guys called Ron Hose & Runar Petursson.  Both companies were setup in 2014.

1st Article on coins.ph
https://www.bworldonline.com/sparkup-sparkfluencers-ron-hose-is-sticking-with-his-prepaid-phone-lessons-from-the-founder-of-coins-ph/

2nd Article is basically a review about coins.co.th and briefly mansions that it is a sister company of coins.ph

https://www.bestbitcoinexchange.net/en/coins-co-th/

Another old interesting article

https://www.bangkokpost.com/business/1736191/sec-warns-over-crypto-trader-investment-scams

One of the exchanges in this article has actually ceased trading...  (www.bx.in.th)

bx.in.th was not a scam to my knowledge and I also used it and withdrew all funds without any problems.

[l4ml4m]

4 hours ago, rimmae2 said:

bx.in.th was not a scam to my knowledge and I also used it and withdrew all funds without any problems.

 

but why did it close ?

 

[APJ291]

11 hours ago, rimmae2 said:

bx.in.th was not a scam to my knowledge and I also used it and withdrew all funds without any problems.

I can definitely vouch for that as well... used them a few times with no issues, then got an email after using them for a year or two specifying that they were closing down.

 

Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at our BX.in.th website in order to focus on other business opportunities.

 

This means that after September 30th 2019 all trading on the BX.in.th will be stopped. 

 

We ask that all customers withdrawal any funds held at the BX.in.th website into their own bank account or digital wallet.

 

The company will not be seeking to hold an SEC issued Digital Asset Exchange license for the year 2020, and we ask all customers to withdraw their funds before November 1st, 2019.

 

After 1 November 2019, the company will continue to open the BX.in.th website only as a method for customers to contact the company about outstanding issues.

 

All deposits will be disabled after September 6th, 2019.

 

If you need any assistance in withdrawing funds please open a support ticket and our staff will be happy to assist you. 

 

We thank our loyal customers for using our BX.in.th services over the past 5 years and trust you have been happy with the service provided. Please note that all fund are completely safe and all customers will receive 100% of their funds returned to them.

 

The above was from an email that I received from them prior to their closure etc...