M18CTID
Well-Known Member
Pretty sure you can buy fractions of Bitcoins
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Bitcoin (cryptocurrency)
- Thread starter vonkeynotvenky
- Start date
Pretty sure you can buy fractions of Bitcoins
SWP's back
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Same with all assets mate be it bitcoin, houses or full backs.My question is this....if you put £5k in Bitcoin and in 10years it's worth £500k....how you going to move it...basically who is going to buy it as surely everyone will be looking to sell, which to me says there will be more people looking to sell than there will be looking to buy, which means you could end up stuck with it
So on paper you've got £500k but can't cash in
Am I right in thinking this?
Skip Donoghue
Well-Known Member
Haha yeah very true when you put it like thatSame with all assets mate be it bitcoin, houses or full backs.
franksinatra
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Coinbase to buy Bitcoin then transfer it to binance to trade and buy smaller coins.
Ask a complete novice but curios about how it works. Can I ask what is the difference between the likes of Coinbase and binance/etoro/kracken etc as I have noticed you suggest buying a bit coin and then transferring it over?
Also do you need to buy a bitcoin to then sell for smaller coins or can you buy them directly via debit/credit cards etc.
goldcoastblue
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Hope you're right mate. I know next to fuck all about all this but we've had a tip today at work re Ripple and I've invested around £750
Im not a financial advisor but i believe in the technology and the fact that banks, who run the world, wont want anyone messing that up for them. Im not saying that you're gonna make millions. But i beleive that the whole market will grow due to it becoming mainstream. With that come more money equals more profits. For those in early.
Also welcome aboard the crypto trai
Thanks. Does that mean the minimum investment is the $15k cost of the initial Bitcoin?
You can buy part of a bitcoin as is the case when selling.
My question is this....if you put £5k in Bitcoin and in 10years it's worth £500k....how you going to move it...basically who is going to buy it as surely everyone will be looking to sell, which to me says there will be more people looking to sell than there will be looking to buy, which means you could end up stuck with it
So on paper you've got £500k but can't cash in
Am I right in thinking this?
not all ISA pay less than inflation cash ISA maybe but shares ISA's are doing quite well
You don't need someone with 500k to buy the bitcoin, you could have 500 people buying £1000 worth.
No buyers the Bitcoin would never be worth 500k anyway
Skip Donoghue
Well-Known Member
No I get that....but what I was saying is let's say I invest £5k and that £5k becomes £500k in 10years would I struggle to cash in,You don't need someone with 500k to buy the bitcoin, you could have 500 people buying £1000 worth.
No buyers the Bitcoin would never be worth 500k anyway
The reason being would there be more people in the same boat as me trying to sell than people trying to buy meaning I'd struggle to sell
arbabarshad
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The price will only reach £500k if there are enough buyers at that price. Moment people start selling price will come crashing down.No I get that....but what I was saying is let's say I invest £5k and that £5k becomes £500k in 10years would I struggle to cash in,
The reason being would there be more people in the same boat as me trying to sell than people trying to buy meaning I'd struggle to sell
Not that you asked but I would suggest buying bitcoin cash rather than bitcoin. Bitcoin cash will be worth more than bitcoin, nothing like £500k mind.
Ask a complete novice but curios about how it works. Can I ask what is the difference between the likes of Coinbase and binance/etoro/kracken etc as I have noticed you suggest buying a bit coin and then transferring it over?
Also do you need to buy a bitcoin to then sell for smaller coins or can you buy them directly via debit/credit cards etc.
In the main you need one of Bitcoin,Ethereum or Litecoin to trade for Smaller coins but with time that should change.
Coinbase is where you change Pounds/Euros/Dollars for Bitcoin/Ethereum/Litecoin
Binance/Bittrex/Poloniex are exchanges where you trade for smaller coins.
Etoro could be wrong on this I think You don't own the Bitcoin/Ethereum/Litecoin you are just betting on the price movement.
Kracken not sure.