I sold out my Roth 401k and Traditional IRA about a year and a half ago and havent looked back. I am 100% in cryptocurrency. People say im dumb. But if you watch something everyday all day, set your stop losses, and watch for news then its only to the moon from there Best of luck!
Fees are something that you have to be willing to pay if you want liquidity… at least for now. Beggars can’t be choosers until something better comes along.
Or try a dex like bisq or local bitcoins
I have not found a guide to buying that makes sense, the space is so new and unrefined that anything goes so the regulators are going to come in heavy handed (when they come). It shouldn’t be difficult to buy with informed choices, clearly stated commissions, wallet info that isn’t cryptic. It isn’t begging to want to buy a bitcoin at market with prevailing commission rates similar to other commodities or securities.
The community will improve right now it is the wild west. From the attitudes I see its going to stay that way until law enforcement / regulation comes in. It really shouldn’t be that way but it is and we are all going to be worse off for it.
If you need help with anything specific feel free to ask. It’s really not as complicated to buy and use bitcoin as you might think.
Seems like you used Coinbase in the earlier days in 2017? My dad was having the same time lag of at least 10 days. Coinbase is now faster. So is Abra. I mainly use abra for my routine purchases since they have more available coins listed despite being operated through litecoin smart contracts. They’re actually pretty safe and you get private keys for the coins you buy but can only withdraw currently via litecoin and bitcoin. If you don’t wanna deal with Coinbase fees then look into abra! I use to use kraken but could only deposit via bank wire and the bank wire fees got expensive over time. Best thing from Coinbase for me was abra and depositing via ACH. Owning my own private keys without keeping bitcoin in any trust fund or GBTC, etc, is my best option since I will actually have the “physical” coins in my possession and I’m not paying anyone any fees to manage them. I’m responsible for my own coins. All my buddies who I talked to at work and my friends who had GBTC pulled their money out and used Abra to buy their coins and couldn’t be happier. This is not investment advice and I’m not being paid by abra, it’s just my best option for me since I’m not a frequent day or swing trader. I’m in this for the long term. I may sell or trade once in a while just because of the situation but I don’t want to create too many different taxable events otherwise taxes can become confusing. Thank goodness though for CoinTracker.io I’ve been using is making me feel more at ease and less anxious/frustrated.
Look into abra man. They have a great platform exchange and well known. Their fees are low for initial coin purchases but free to trade between cryptos. Their support is awesome and have so much info for noobs and also recently came out with a Altcoins guide to learn more about each coin they list. They’re so helpful and supportive that I have older adults in their 60s and 70s recently bought into crypto because that app is so easy to use and it’s very secure in the litecoin smart contracts.
Thanks for all of the tips! I am looking into some of the suggestions now. My main frustration is that I just money into Coinbase. I have a few more days til my 10 days is up. That is a non acceptable wait time. I will be getting away from them. ETF’s will solve all of my needs at present but a really great wallet is needed to make purchases. Just a waiting game. Looking into Abra tonight. Thanks all!
@cryptorice You know if you can send to a Ledger wallet address from Abra or you can only hold and sell on it?
There is actually a fund called GBTC that I have in my IRA. There is a little premium charged to the actual net asset value of BTC, but it is safe and a way to do that!
Yes, I have some in my IRA. I dont remember the exact amount of BTC in the fund, but it is something like 230k BTC. There is a premium to the actual value of BTC, but it is safe for the individual. Hopefully thereCDCeill be an actual ETF in a few months, but until then, I will keep some money in GBTC!
You can do both. The abra app is also a secure wallet. But if you withdraw to put into the ledger nano S, for now you can only withdraw litecoin or bitcoin. So you’ll have to convert the altcoins to either one of those first before transferring to ledger. I plan on putting altcoins profits into bitcoin anyway and put it in my ledger once I reach my goal.
Good thing I asked. Don’t want to have Zcash stuck in there.