Greg and I was talking about bitcoin when it was around $10. I was always sceptical (why would I want to throw real money into something intangible that I can’t even touch or smell, not even mentioning about the legitimacy of it). The topic popped up here and there. Last time he tried to persuade me, bitcoin was around $300. As usual, I was not interested. Greg is very passionate person. He is very into it and love it. Anyway, he always likes IT and computer.
Recently I caught up with him again. He said he retired because he invested in bitcoin and other crypto currencies. He told me he missed out the opportunities last time, but would not miss out again. He jumped into crypto currencies when bitcoin was around $2000. Check out bitcoin today, it is hovering above $10000. I could not turn away.
Whether it’s a Ponzi or not, if you are not riding the wave, you will miss out the opportunities.
Greg told me to spare as little as $100 to try out if I am not comfortable. We talked for hours and he guided me through the process of buying / selling, stored in online wallet and saw the charts. I invested in stocks before so I am familiar with seeing the charts and numbers. It turned out quite easy to navigate.
There are few places to start buying bitcoin and other crypto currencies.
If you are from Australia, My favourite place is COINSPOT (for Australia only). You can buy instantly (with Poli) , buy with fiat and Bpay. Lot of coins to choose. In addition, you can buy and sell to other crypto currencies and withdraw to your bank accounts. However, they require more documentation when registering eg mugshot and take time to approve.
If you register at COINBASE , they will give you $10 if you click through this link . It is easy to register, less documents for registration, can pay with credit cards but limited choice of coins to buy and you can’t sell to other crypto for the time being.
BINANCE is another place to buy/sell bitcoin and other crypto currencies or USD: lot of coins to trade and easy to register but you cannot buy instantly or use fiat. This is a good place if you don’t want hassle and trade many crypto currencies.
As an investor, all I care is whether I can make profit or not. The answer is YES for now. However do not be greedy and always invest the amount of money you are willing to lose (unless money is not a problem for you). I know many of my wealthy friends have invested in bitcoins and other crypto currencies already. I am happy I am in.