How much have you made from cryptocurrency reddit

Sort by: Hot. Billionaire: Your life is going to stink March 26, , AM Berkshire-Hathaway Vice-Chairman Charlie Munger is quoted as saying we need to be prepared for a life that will be harder 1. PDT, he became a dogecoin millionaire. An envelope. Billionaires already pay a far lower share of their wealth annually than the rest of us.



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WATCH RELATED VIDEO: How To Make Money With Coinbase in 2022 (Beginners Guide)

Everything you need to know about Crypto Trading Bots


Investing or trading Bitcoin only requires an account at a service or an exchange, although further safe storage practices are recommended. There are several things that aspiring Bitcoin investors need: a cryptocurrency exchange account, personal identification documents if you are using a Know Your Customer KYC platform, a secure connection to the Internet, and a method of payment. It is also recommended that you have your own personal wallet outside of the exchange account.

Valid methods of payment using this path include bank accounts, debit cards, and credit cards. Privacy and security are important issues for Bitcoin investors. Anyone who gains the private key to a public address on the Bitcoin blockchain can authorize transactions. Private keys should be kept secret—criminals may attempt to steal them if they learn of large holdings. Be aware that anyone can see the balance of a public address you use.

The flip side to this public information is that an individual can create multiple public addresses for themselves. Thus, they can distribute their stash of Bitcoin over many addresses. A good strategy is to keep significant investments at public addresses that are not directly connected to ones that are used in transactions. Anyone can view a history of transactions made on the blockchain—even you.

Although transactions are publicly recorded on the blockchain, identifying user information is not. On the Bitcoin blockchain, only a user's public key appears next to a transaction—making transactions confidential but not anonymous.

In that sense, Bitcoin transactions are more transparent and traceable than cash because all of them are available for public view, unlike private cash transactions. But Bitcoin transactions also have an element of anonymity built into their design.

It is very difficult to trace the transacting parties—i. International researchers and the FBI have claimed they can track transactions made on the Bitcoin blockchain to users' other online accounts, including their digital wallets. For example, if someone creates an account on Coinbase , they must provide their identification. Now, when that person purchases bitcoin, it is tied to their name.

If they send it to another wallet, it can still be traced back to the Coinbase purchase that is connected to the account holder's identity. This should not concern most investors because Bitcoin is legal in the U.

Be sure to check out the legal, regulatory, and tax status of purchasing and selling bitcoin where you live before transacting. We have broken down the steps to buying bitcoin below. Remember that you still need to do your research and select the best option for yourself based on your circumstances. The first step in buying bitcoin consists of choosing a crypto trading service or venue. Popular trading services and venues for purchasing cryptocurrencies include cryptocurrency exchanges, payment services, and brokerages.

Out of these, cryptocurrency exchanges are the most convenient option because they offer a breadth of features and more cryptocurrencies for trading. Signing up for a cryptocurrency exchange will enable you to buy, sell, and hold cryptocurrency. It is generally best practice to use an exchange that allows its users to withdraw crypto to their own personal online wallet for safekeeping. For those looking to trade Bitcoin or other cryptocurrencies, this feature may not matter.

There are many types of cryptocurrency exchanges. Because the Bitcoin ethos is about decentralization and individual sovereignty, some exchanges allow users to remain anonymous and do not require users to enter personal information.

Such exchanges operate autonomously and are typically decentralized, which means they do not have a central point of control. Although such systems can serve nefarious purposes, they can also provide services to the world's unbanked population. For certain categories of people—refugees or those living in countries with little to no infrastructure for government credit or banking—anonymous exchanges can help bring them into the mainstream economy. Right now, however, most popular exchanges are not decentralized and follow laws that require users to submit identifying documentation.

US, to name a few. These exchanges have grown significantly in the number of features they offer. The crypto universe has grown rapidly in the last decade, with many new tokens competing for investor dollars.

With the exception of Bitcoin and certain prominent coins, such as Ethereum , not all of these tokens are available at all exchanges. Each exchange has its own set of criteria to determine whether to include or exclude the trading of certain tokens. Coinbase, Kraken, and Gemini offer Bitcoin and a growing number of altcoins. These three are probably the easiest on-ramps to crypto in the entire industry. Binance caters to a more advanced trader, offering more serious trading functionality and a better variety of altcoin choices.

FTX, a fast-growing crypto exchange that has garnered a multibillion-dollar valuation, offers a restricted number of altcoins to U. However, traders outside the U. An important thing to note when creating a cryptocurrency exchange account is to use safe Internet practices.

This includes two-factor authentication and a long, unique password that includes a variety of lowercase letters, capitalized letters, special characters, and numbers.

El Salvador made Bitcoin legal tender on September 7, It was the first country to do so. The cryptocurrency can serve as currency for any transaction where the business can accept it.

The U. After you have chosen an exchange, you will need to gather your personal documents. Depending on the exchange, these may include pictures of a driver's license or Social Security card, as well as information about your employer and source of funds.

The information you may need can depend on the region you live in and the laws within it. The process is largely the same as setting up a typical brokerage account.

After the exchange has verified your identity, you will be asked to connect a payment option. At most exchanges, you can connect your bank account directly or you can connect a debit or credit card. Although you can use a credit card to purchase cryptocurrency, it is not a good idea because cryptocurrency price volatility could inflate the overall cost of purchasing a coin.

Bitcoin is legal in the United States, but some banks may question or even stop deposits to crypto-related sites or exchanges. It is a good idea to check to make sure that your bank allows deposits at your chosen exchange. There are varying fees for deposits via a bank account, debit, or credit card. It is important to research the fees associated with each payment option to help choose an exchange or to choose which payment option works best for you.

Exchanges also charge fees per transaction. These fees can either be a flat fee if the trading amount is low or a percentage of the trading amount. Credit cards incur a processing fee in addition to the transaction fees.

You can buy bitcoin or other cryptocurrencies after choosing an exchange and connecting a payment option. In recent years, cryptocurrency exchanges have slowly become more mainstream.

They have grown significantly in terms of liquidity and their breadth of features. The operational changes at cryptocurrency exchanges parallel the change in the perception of cryptocurrencies. An industry that was once thought of as a scam or one with questionable practices is slowly morphing into a legitimate one that has drawn interest from all the big players in the financial services industry. Now, cryptocurrency exchanges have gotten to a point where they have nearly the same level of features as their stock brokerage counterparts.

Crypto exchanges today offer a number of order types and ways to invest. Almost all crypto exchanges offer both market and limit orders , and some also offer stop-loss orders. Of the exchanges mentioned above, Kraken offers the most order types. Kraken allows for market, limit, stop-loss, stop-limit , take-profit , and take-profit limit orders. Aside from a variety of order types, exchanges also offer ways to set up recurring investments, allowing clients to dollar-cost average into their investments of choice.

Coinbase, for example, lets users set recurring purchases for every day, week, or month. Bitcoin and cryptocurrency wallets are a place to store digital assets more securely. Having your crypto outside of the exchange and in your personal wallet ensures that only you have control over the private key to your funds.

It also gives you the ability to store funds away from an exchange and avoid the risk of your exchange getting hacked and losing your funds. Although most exchanges offer wallets for their users, security is not their primary business. We generally do not recommend using an exchange wallet for large or long-term cryptocurrency holdings.

Some wallets have more features than others. Some are Bitcoin only, and some offer the ability to store numerous types of altcoins. Some wallets also offer the ability to swap one token for another. When it comes to choosing a Bitcoin wallet, you have a number of options. The first thing you will need to understand about crypto wallets is the concept of hot wallets online wallets and cold wallets paper or hardware wallets.

Online wallets are also known as hot wallets. Hot wallets are wallets that run on Internet-connected devices such as computers, phones, or tablets. This can create vulnerability because these wallets generate the private keys to your coins on these Internet-connected devices.

Though a hot wallet can be very convenient in the way you are able to access and make transactions with your assets quickly, storing your private key on an Internet-connected device makes it more susceptible to a hack. This may sound farfetched, but hot wallet holders who haven't set up enough security run the risk of losing funds to theft. This is not an infrequent occurrence, and it can happen in a number of ways. For example, boasting on a public forum such as Reddit about how much bitcoin you hold while you are using little to no security and storing it in a hot wallet would not be wise.

That said, these wallets can be made secure so long as precautions are taken. Strong passwords , two-factor authentication, and safe Internet browsing should be considered minimum requirements. These wallets are best for small amounts of cryptocurrency or cryptocurrency that you are actively trading on an exchange.



Day trading in crypto keeps young Indians busy at night

It is generally considered speculation when private individuals trade in cryptocurrencies, meaning that the currency is bought with a view to making a profit on the sale. As a result, you normally have to inform the Danish Tax Agency Skattestyrelsen of the profit or loss you make when you sell your cryptocurrencies. Enter your profit or loss in your tax assessment notice. If you have both made a profit and a loss on your transactions, you should normally enter your profit in box 20 of your tax assessment notice and your loss in box 58 of your tax assessment notice, respectively.

"We have a daily trader base of over 80, Indian high-frequency Most cryptocurrency exchanges in India allow traders to trade all day.

Bitcoin Will Hit $100,000, According to Experts. Here’s What They Predict in 2022

While bitcoin only managed to return As a result, many cryptocurrency prices were more dictated by the value and functionality of their protocol and applications rather than their correlation to bitcoin. Litecoin and Bitcoin Cash also provided meagre double-digit percentage returns, as payment-focused cryptocurrencies were largely ignored for projects with smart contract capabilities. Ethereum greatly outpaced bitcoin in , returning While many new cryptocurrencies with strong functionality and unique use-cases were rewarded with strong returns, it was memes that powered the greatest returns in cryptocurrencies this past year. After the roller coaster ride of last year, started with a positive catalyst for Dogecoin holders as Elon Musk announced DOGE can be used to purchase Tesla merchandise. The intersection between crypto, games, and the metaverse became more than just a pipe dream in Axie Infinity was the first crypto native game to successfully establish a play to earn structure that combines its native token AXS and in-game NFTs, becoming a sensation and source of income for many in the Philippines. Along with gamification, saw crypto native and non-crypto developers put a big emphasis on the digital worlds or metaverses users will inhabit. Which risks are top of mind in ?


How Not to Lose Money in Crypto

how much have you made from cryptocurrency reddit

Reimagine your world. Perpetual Protocol is a capital efficient perpetual futures DEX. Traders and LPs can use 10x leverage on the platform while maintaining control of their assets. Aurox is the first trading platform in the world designed to help make trading, investing, and lending cryptocurrencies simple for beginners. NFTb is the platform for creators to access opportunities in DeFi with the best user experience for anyone, anywhere.

Days after Twitter announced non-fungible-token NFT profile pictures , Reddit is testing a similar feature that would allow users to set NFTs as profile picture, a report claimed. According to Techcrunch, a Reddit spokesperson said that test is in very early stages and currently is not available to public users on the site.

Reddit tests allowing users to set any NFT as their profile picture, similar to Twitter

Have you ever wondered how exactly people learn how to invest? Did the rest of us miss a very important day at school? The ASX's Australian Investor Study found that 45 per cent of those who began investing in the 12 months prior were female. That figure is up from 31 per cent when you look at the people who started investing five to 10 years ago. But when she "decided to become a millionaire" in late-April, she had no choice but to learn. The response was overwhelming.


Here's how much you would have earned had you invested Rs 50,000 in these cryptos in 2021

January 13, Jan 26 Reuters - A year since a Reddit-driven retail trading frenzy rocked the markets and created the ' meme stock ' phenomenon, leading U. Google searches for 'Pelosi stock trades' hit a record high earlier this month as users on social media platforms including Twitter, Reddit, Youtube and TikTok scrutinize her investments, believing the U. Speaker of the House may have an edge on Wall Street. Discussion of Pelosi's trades is a recurring theme on social media including 'wallstreetbets', the Reddit forum where retail investors banded together a year ago to coordinate frenzied buying of video games retailer GameStop GME.

Axie Infinity was the first crypto native game to successfully establish a play to earn structure that combines its native token (AXS) and.

Basically, these terms refer to cryptocurrencies with little to no value, that have no immediate or discernible purpose. The catch, however, is that shitcoin currencies are often considered to be bad investments, because their prices are usually based on speculation. Think of them as penny-stock cryptocurrencies. Luckily for us, Reddit has come to the rescue with a guide to spotting said shitcoins.


Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre. Please read our Privacy Policy. Cryptocurrencies are known for being extremely volatile, and prices fluctuate drastically even in the space of minutes.

The price of Dogecoin has appreciated dramatically since May see Figure 1 , but it remains a relatively cheap coin with a very large supply. But what exactly is it — and does it have any value?

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Calvin Becerra went viral earlier this year for a less-than-ideal reason. Scammers pretended to be interested in buying one of his NFTs in a Discord channel and tricked him by saying they could help him fix a problem with his crypto wallet. During troubleshooting, they raided his wallet.

A Dogecoin investor has told Newsweek of how he became a millionaire after investing his life savings in the meme cryptocurrency. Meanwhile, an expert has warned about the risks of doing so. Since then the coin has risen sharply in value as cryptocurrencies in general have grown in popularity, and thanks to support from influential figures such as Elon Musk.


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