Bitcoins and Other Crypto-currencies

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poshrule_uk
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PostRe: Bitcoins and Other Crypto-currencies
by poshrule_uk » Sat Apr 03, 2021 6:42 pm

Cyburn2 wrote:What is best exchange for buying DOGECoin? Dont think Coinbase does it.


Binance do, no Idea if they are the best place to go though

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Holpil
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PostRe: Bitcoins and Other Crypto-currencies
by Holpil » Sat Apr 03, 2021 7:36 pm

poshrule_uk wrote:
Holpil wrote:Remember that you have until end of the day Monday to take profits up to £12,300 without paying any Capital Gains Tax for the 2020/21 tax year (providing you haven't used your allowance elsewhere). I think this applies to any crypto held for over 30 days.


Obviously I'm not in that position but say I was would I need to declare it anyway if I say made £10k profit?


No need to declare anything unless you take over £12,300 profit in a single tax year (value of the sale minus the initial investment), so in theory you could sell £12,300 of bitcoin today, £12,300 on Tuesday and then again the following year and not pay tax or have to declare it.

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Curls
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PostRe: Bitcoins and Other Crypto-currencies
by Curls » Mon Apr 05, 2021 4:06 pm

Hello all,

I'm just going to copy my post from MSE forums to here. Feel free to ask me about the website if you have any questions. At the moment crypto.com seems to be a good gamble for me. But only do it if you can afford....post copied below.

Hi all,

For any of you who are tempted to use Crypto.com, I thought I'd share my link. It gives you $25 worth of crypto.com crypto currency CRO if you invest £300 in CRO. You also get 'free spotify' If you sign up for the ruby card and lock your funds for 6 months.

As most are aware Crypto is not FTSE protected and you absolutely MUST do your research. For me when I signed up in December that $25 dollar CRO has multipled to about 3.5 the amount, so its going well for me right now, but these markets are still prone to major fluctuations. If you were going to invest anyway, please consider my link. If you are going to join just for the $25 I would say the risk isn't worth the free cash so don't do it. Cheers!

Use my referral link https://crypto.com/app/66u7armcsx to sign up for Crypto.com and we both get $25 USD :)

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Igor
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PostRe: Bitcoins and Other Crypto-currencies
by Igor » Tue Apr 06, 2021 8:27 pm

I started avoiding this thread when things took a dip back in February - avoiding any and all mention or news on the markets helps stop me from doing something stupid.

My unrealised gain over the last 12 months (since April 6th 2020) is currently around £280k, mostly in crypto but I'm also still holding a sizable position in GME, 'cos why not. Taken about £25k profit.

If anyone has any questions, I can do my best to answer them.

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Tomous
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PostRe: Bitcoins and Other Crypto-currencies
by Tomous » Tue Apr 06, 2021 8:30 pm

Just the one from me, how I make £280k in crypto?

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Grumpy David
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PostRe: Bitcoins and Other Crypto-currencies
by Grumpy David » Tue Apr 06, 2021 9:10 pm

Igor wrote:I started avoiding this thread when things took a dip back in February - avoiding any and all mention or news on the markets helps stop me from doing something stupid.

My unrealised gain over the last 12 months (since April 6th 2020) is currently around £280k, mostly in crypto but I'm also still holding a sizable position in GME, 'cos why not. Taken about £25k profit.

If anyone has any questions, I can do my best to answer them.


Hey, it's me! Your long lost brother!

What amount of cash did you have 12 months ago to have gained 280k?

That's presumably a life changing amount of money. Will it let you be mortgage-free if you cashed in? Or you plan something more high risk than getting rid of the mortgage?

Presumably if its mostly crypto gains then you're going to have a ridiculously large CGT bill to factor in.

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Rocsteady
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PostRe: Bitcoins and Other Crypto-currencies
by Rocsteady » Tue Apr 06, 2021 11:37 pm

Holy gooseberry fool :lol:

Yeah, how much did you invest? That's a strawberry floating insane gain.

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Corazon de Leon
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PostRe: Bitcoins and Other Crypto-currencies
by Corazon de Leon » Wed Apr 07, 2021 12:01 am

Tomous wrote:Just the one from me, how I make £280k in crypto?


Huh, weird, that was exactly my question.

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abcd
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PostRe: Bitcoins and Other Crypto-currencies
by abcd » Wed Apr 07, 2021 10:15 am

Yes, I want the money too

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Igor
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PostRe: Bitcoins and Other Crypto-currencies
by Igor » Wed Apr 07, 2021 2:22 pm

Grumpy David wrote:What amount of cash did you have 12 months ago to have gained 280k?

That's presumably a life changing amount of money. Will it let you be mortgage-free if you cashed in? Or you plan something more high risk than getting rid of the mortgage?

Presumably if its mostly crypto gains then you're going to have a ridiculously large CGT bill to factor in.


£4k. Put in another £6k between April and June 2020. This was cash that I could lose and yeah, it'd suck, but I wouldn't really notice. I got strawberry floated over following the 2017 bull run, in projects that ultimately have gone nowhere so I've now got the bulk in ether and I plan to hold long term, even if there's a major correction.

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Rocsteady
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PostRe: Bitcoins and Other Crypto-currencies
by Rocsteady » Wed Apr 07, 2021 2:28 pm

Holy strawberry floating gooseberry fool. I thought you were going to say about 80 grand. The jealousy is off the scale

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Tomous
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PostRe: Bitcoins and Other Crypto-currencies
by Tomous » Wed Apr 07, 2021 2:34 pm

Wow.

All I can say is well done. Well done and strawberry float you.

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Dual
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PostRe: Bitcoins and Other Crypto-currencies
by Dual » Wed Apr 07, 2021 2:37 pm

You've made it bro.

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Jenuall
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PostRe: Bitcoins and Other Crypto-currencies
by Jenuall » Wed Apr 07, 2021 2:40 pm

That's incredible, well done you lucky bastard! :lol:

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poshrule_uk
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PostRe: Bitcoins and Other Crypto-currencies
by poshrule_uk » Wed Apr 07, 2021 3:39 pm

Puts my £25 to shame :shifty:

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blackoutHERO
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PostRe: Bitcoins and Other Crypto-currencies
by blackoutHERO » Thu Apr 08, 2021 9:40 am

Igor wrote:I started avoiding this thread when things took a dip back in February - avoiding any and all mention or news on the markets helps stop me from doing something stupid.

My unrealised gain over the last 12 months (since April 6th 2020) is currently around £280k, mostly in crypto but I'm also still holding a sizable position in GME, 'cos why not. Taken about £25k profit.

If anyone has any questions, I can do my best to answer them.

.
How easy is it to get a 'wallet'? I want to invest a decent amount of money and was told exchanges can disappear at any moment

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Errkal
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PostRe: Bitcoins and Other Crypto-currencies
by Errkal » Thu Apr 08, 2021 10:42 am

The exchanges are much more stable now, they used to be dodgy as strawberry float but now if you go for the likes of Coinbase you are pretty safe.

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Jenuall
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PostRe: Bitcoins and Other Crypto-currencies
by Jenuall » Thu Apr 08, 2021 10:43 am

"pretty safe"

Sounds legit!

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Knoyleo
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PostRe: Bitcoins and Other Crypto-currencies
by Knoyleo » Thu Apr 08, 2021 11:17 am

twitter.com/classiclib3ral/status/1378744105174495237


pjbetman wrote:That's the stupidest thing ive ever read on here i think.
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Errkal
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PostRe: Bitcoins and Other Crypto-currencies
by Errkal » Thu Apr 08, 2021 11:19 am

Jenuall wrote:"pretty safe"

Sounds legit!


They aren't likely to just disappear is what I mean, Coinbase is stock market listed so it isn't some shonk thing like many used to be, but they aren't protected like a bank account.


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