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thinking of getting into crypto
 

I'm thinking of getting into crypto. Is trading coins really worth it? How do I create a wallet and keep it safe? I've heard of coinbase and crypto.com

Re: thinking of getting into crypto
 

agent is right here - research it out barcyglobe and be careful of DM scams. Coinbase and crypto are reputable sites.

Re: thinking of getting into crypto
 

Mining still happens - it just isn't discussed as much as before - different jurisdictions, different policies

Re: thinking of getting into crypto
 

Yes, it is worth it, but you always need to be careful and have patience.
And forget about futures trading forever.

Re: thinking of getting into crypto
 

make a new thread - post the source :) don't derail :lol:

Re: thinking of getting into crypto
 

Are you finally getting your feet wet with crypto, agent?

Re: thinking of getting into crypto
 

@agent, ah ok.

@barcyglobe, trading coins and dealing with fees is fairly dangerous - listen to WeeWiz.

The learning curve can be steep and costly based on numerous experiences on Web.

Re: thinking of getting into crypto
 

The way I see it, trading’s a bit of a zero sum game, so that’s a no for me.

Mining is pretty much dead for most people. You can’t really mine Bitcoin unless you use those specialist ASIC machines. Even then, it only makes sense if your electricity’s dirt cheap.

To give you an idea, you’d need about 10 of those units just to mine 1 Bitcoin in a year. And that alone would set you back around £90,000 just for the hardware.

Then there’s the electricity. You’re looking at around 535,000 kWh per Bitcoin. Multiply that by whatever your rate of xx.xxp/kWh and you’re easily talking roughly £100k just on power.

You’d be spending close to £200,000 in your first year to mine 1 Bitcoin that’s currently worth about £80,000. Just doesn’t add up.

You're better off setting up your mining operation in Iran where it'd cost you 1/100 in electricity or buying BTC with that 200k and forgetting it for the next 10 to 20 years.

Re: thinking of getting into crypto
 

barcyglobe, start with receiving payments in crypto to your wallet as part of your business

Re: thinking of getting into crypto
 

Yes, it's a set game, mining is out for most ppl. They are using us to test different Blockchains and will merge them into one final product eventually. I agree, best bet is to accept coins at checkout if you can

Re: thinking of getting into crypto
 

The way I see it, trading’s a bit of a zero sum game, so that’s a no for me.
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thats a lot of trading going on these days,stocks,bonds,foreign exchange,cryptos,commodities

Re: thinking of getting into crypto
 

Of course - always going on

Re: thinking of getting into crypto
 

No,we have a new breed of traders,from Reddit and Robinhood.

Re: thinking of getting into crypto
 

lot of your posts have gone missing agent - something going on; better keep focused.

Re: thinking of getting into crypto
 

I didn't know it cost that much to mine BTC.

That's insanity.

also most of BTC is already mined too.

Re: thinking of getting into crypto
 

It is easier to trade than to mine,cheaper too !

Re: thinking of getting into crypto
 

Right on - something like 2 million or so out of total left to be mined (I remember reading)

Re: thinking of getting into crypto
 

trading is very risky, if you can control your greed, then you can choose trading as a profession otherwise you will loose money, no matter how experienced you are.
i lost $5k+ in future tradings, i stop doing the trading for now. as the things were not under my control.

Re: thinking of getting into crypto
 

I view trading as a game.