I am fresh in the crypto and biggest problem I see so far are commissions.
I paid in 300 Pounds into Coinbase to buy bitcoin, and already lost some money here at purchase and then at sending to KuCoin. After buying 3 types of coins for the money I had only 250 Pounds. 1/6th of money gone, so to just get my money back I need to earn 20% (and am sure there will be more fees when changing back into bitcoin and sending back to Coinbase and then changing back onto Pounds. So just to be on BE I need to earn probably about 50% - honestly forex and shares seem to be easier.
From now on I will be hunting only some good releases of coins. With novadays hype around crypto these cheap ones will have biggest profits. The only problem is - If I invest in some low fame coin - where do I buy and sell it. I've read about this Mobius Coin - maybe it is promising, maybe just good talk around it - Lets say I bought at release date - where can I send it after? Coinranking has it on, but they don't exchange it. And problem with minor coin trading sites is that to sell or buy you need counter offer - I had it with "crypto mate", tried to buy Ripple, noone is selling, tried something else there - same. The value of the coin means nothing if it is hard to sell.
Still into these, just have some doubts therefore writing.
I paid in 300 Pounds into Coinbase to buy bitcoin, and already lost some money here at purchase and then at sending to KuCoin. After buying 3 types of coins for the money I had only 250 Pounds. 1/6th of money gone, so to just get my money back I need to earn 20% (and am sure there will be more fees when changing back into bitcoin and sending back to Coinbase and then changing back onto Pounds. So just to be on BE I need to earn probably about 50% - honestly forex and shares seem to be easier.
From now on I will be hunting only some good releases of coins. With novadays hype around crypto these cheap ones will have biggest profits. The only problem is - If I invest in some low fame coin - where do I buy and sell it. I've read about this Mobius Coin - maybe it is promising, maybe just good talk around it - Lets say I bought at release date - where can I send it after? Coinranking has it on, but they don't exchange it. And problem with minor coin trading sites is that to sell or buy you need counter offer - I had it with "crypto mate", tried to buy Ripple, noone is selling, tried something else there - same. The value of the coin means nothing if it is hard to sell.
Still into these, just have some doubts therefore writing.
On my way to financial independence - if others can do it - I can do it