Property Investment Vs Bitcoin/Cryptocurrency – Here’s The Situation!

Property Investment Vs Bitcoin/Cryptocurrency

It got to the point where every day I was hearing about more and more people, including the most gormless halfwits humanly imaginable, striking it rich from cryptocurrency. I haven’t heard those claims – to that extent – about property since early 2004, when Sarah Beeny’s Property Ladder gave many of us aspiring entrepreneurs hope, as we learned that any wally can make a killing in a booming property market.

They call it FOMO. “Fear of missing out”

Apparently it’s an irrational feeling that shouldn’t play any active role in investment making decisions, because it’s based on emotion and not valuation, yet it’s precisely why I said “screw it” and tossed a portion of my savings – enough of it to make me nervous – into cryptocurrency.

Mind you, not as nervous as watching fiat money (e.g. GBP) deteriorating quicker than my hairline, as Governments around the world are hell-bent on minting ludicrous amounts of cheese during the pandemic, navigating us towards a full-on collision with hyperinflation.

Meanwhile, the value of cryptocurrency is soaring, especially with billionaires like Elon Musk scooping up Bitcoin and touting DOGE coin like he’s a second-hand car salesman! Did you know, there have been few assets in the history of mankind to show the same level of appreciation as crypto? Bitcoin, for example, has appreciated 4,700,000% in ten years. And how about this little tidbit to really make you puke your guts out: if you invested £1000 into DOGE coin in January 2021, you would have banked £210,825.30 today.

However, while there’s clearly plenty to be made, the narrative in recent times has been less about the “easy money”, and more about outperforming the impending doom of inflation. So is it any wonder that millions of people around the globe are frantically stashing their money into the crypto market?

I’m all in!

If anyone hadn’t noticed, I’ve been a bit absent from blogging recently. My super useful newsletter has still been chugging along as per usual, but blogging not so much.

I’m sure you noticed, and I suspect your email of concern fell victim to the jaws of my nasty spam-filter. It’s not your fault.

If you’re following me on Twitter you may have caught wind of my recent flurry of tweets, so you’ll already be aware that I’ve entered into a very dark and foreign place…

Dear Lord, I cannot emphasise the following enough! Nothing in this post (or website for that matter) should be constituted as financial advice! I’m not advising or recommending anyone to invest in anything, especially cryptocurrency, this is purely for educational purposes! Always do your own research!

So why on God’s green earth am I discussing Cryptocurrency on my landlord blog to you fine property folk? Believe you me, we didn’t arrive here without deliberation.

  • In short, I’m hedging against our government and traditional investment vehicles, including property! Crypto is largely decentralised, unlike my other investments, so it’s completely unique in that sense.
  • I don’t want you thinking I’m a one-trick pony! I couldn’t bear the thought.

    I’m a firm believer in diversification; being married to one or two “wealth creation” methods feels reckless, especially if they’re all tightly regulated by government. I don’t think anyone should go “all in” with one particular investment type, even if it’s as safe as ‘ouses.

  • For the most part, landlords don’t have genuine affection for bricks and mortar, but rather, we simply want our money to outrun inflation and outperform the lousy interest rates we’re being offered by our deadbeat banks. Or at least, I sincerely hope that’s the case.

    But then again, I once watched a bone-chilling documentary on people that have literal love affairs with their cars. Yes, like, literally.

    Apparently these fruit-loops aren’t as uncommon as one would hope. Bloody mental.

  • Crypto is creeping into mainstream media, especially thanks to my mate Elon Musk, after he dropped a colossus $1.5bn on Bitcoin, and DOGE coin hitting the airwaves after going parabolic, and turning a ridiculous amount of pubeless children into millionaires.

    So I figured there’s a good chance you might be interested in learning more about my recent entry into the crypto-verse. I’m always happy to be your guinea pig.

  • And this…

    Investment returns 2021

How much have I made from Cryptocurrency so far?

Yes, yes, yes, I know this is what most people will care about. So before you dose off, I’ll put you out of your misery.

£100k

At the time of writing this blog post I’ve been investing in cryptocurrency for around 3 months, and I’m £100k up with £12k investment. I haven’t cashed anything out yet, so depending on my level of sensibility and greed, I could lose it all. Or, I could make more money than sense and become a full-time Instagram “influencer”, dedicating my life to flaunting lush Louis Vuitton man-bags, Gucci belt buckles the size of your head, and fluorescent green Lambos.

Yes, I know, not a bad return at all, but what makes the whole situation so utterly absurd and surreal is the fact that it was all orchestrated by a clueless buffoon, bumbling around on a mobile app, during the span of a couple of months. I really have no understanding of why it’s even possible to make that much money from whatever it is I gambled on.

Anyways, I ‘spose that explains why I’ve shown less interest in blogging about property recently.

The twisted reality is, that’s a pretty modest ROI in the world of cryptocurrency; investors are frequently seeing 100x – 1000x returns, most often by shear dumb luck. That’s not hype either, it’s real, and if I wasn’t “in it” I wouldn’t believe it either.

Question: what was the ROI from your crusty BTL and snot-faced tenants in the last 3 months?

I kid, I kid! We all love property and adore our tenants, even the ones in rent arrears and use the curtains as poop-paper.

What is Cryptocurrency/Bitcoin?

I’m not the best person to ask. In fact, I’m probably the worst person to ask. But I’ll do my best to explain the little I do know (or, at least, the little I think I know) in my own little way.

There are literally thousands of cryptocurrencies available today. For practical purposes, you can think of them like companies in any traditional stock exchange.

Bitcoin is just ONE cryptocurrency out of thousands, and it’s the most recognisable because it was the first. ONE bitcoin is worth a staggering £32,000+ today (it was £44k a few weeks ago), and many speculate it will reach £100k by the end of the year. It was less than 1p when it first started trading back in 2008. My advice is not to attempt to understand it, but to blindly accept it. I’ve discovered it’s easier that way.

If you’re not in the world of crypto you might be surprised by how much money has been thrown into the market, by both private individuals and huge institutions like Tesla and PayPal. It’s mind-boggling.

Most of the outside world think that cryptocurrency is a generic term for virtual currency. It’s not. Bitcoin (and a small handful of others) is a digital currency that stores value, but the vast majority of cryptocurrencies are ‘assets’, designed to securely transfer encrypted information or assist with the process through networks.

Either way, the technical differences mean diddly-squat to the average investor, because the currencies are just donkeys in a race to us, and all we expect is for our picks to put one foot in front of the other.

From what I understand, there’s very little real use case for the majority crypto technology today, it’s at the very early stages of adoption, so the market is largely driven by greed, hot air and speculation. It’s utterly senseless and comical, but it’s happening.

As always, do your own research from reputable resources if you want to learn more.

Which Cryptocurrencies I’ve invested in…

I know some of you will already be invested in Crypto, so the following will actually mean something to you. Here’s what I’ve scooped up (these are my current holdings, I’ve purchased/sold dozens of different crypto along the way):

CurrencyTickerRelative risk level (in my opinion)
EtheriumETHLow – Medium
CardanoADALow
VechainVETLow
PolkadotADALow
PolygonMATICLow – Medium
RippleXRPMedium – High
The GraphGRTLow
CotiCOTIHigh
ChillizCHZMedium
ChainlinkLINKLow
***Hoge FinanceHOGEHigh

***This highly-speculative long-shot has been my best earner. I got in super early on a whim! Betting on this crypto to succeed was like betting on a 3-legged donkey at the Grand National. I really can’t explain the success; it’s laudacris, it feels like a practical joke, but that pretty much sums up my opinion of the entire crypto market.

Just in case you’re thinking about it, please don’t blindly shadow my investments, because my entry points will be a lot different from yours if you enter the market today.

Where’s Bitcoin? Why haven’t you invested in Bitcoin?
There’s a couple of reasons for this:

  • I feel like I’ve missed the Bitcoin boat. Even if Bitcoin rises to an incredible £100k, I’ll only be tripling my money. I despise myself for saying this, but that’s a tiny return in the crypto world. I’d get laughed out of Crypto Camp if my portfolio only showed a 3x return.

    Jesus Christ, what have I become?

    But honestly, there are much better currencies to invest in today which are likely to yield greater returns, in my opinion.

  • I’ve listened to a lot of ‘millionaire’ crypto veterans discuss their strategies, and the general consensus is that 50% of a well-rounded crypto portfolio should be invested in Bitcoin, because although it’s not going to yield as much return as some of the other coins at this stage, it is the most reliable (in other words, it’s always managed to increase in value). Basically, Bitcoin should be the cornerstone of everyone’s strategy.

    My foundation is property, I don’t need or want Bitcoin to replace it.

Just to clarify, you can buy a percentage of a Bitcoin, so the fact one Bitcoin is £30k is irrelevant.

What I’ve learned so far from investing in Cryptocurrency

  • Silly money

    The amount of money being made by speculative assets is both scary and surreal – it’s difficult to make sense of the situation, so I stopped trying. I’m simply shutting my eyes and going along for the ride.

    Most of the currencies/tech does absolutely F-ALL; they have no utility whatsoever; they’re still jammed in the developed phase; we’re basically throwing money at vapour, hoping it materialises into something useful and functional. Madness!

    Yet still, it actually seems like a very real method of making – I’m going to say it – “life-changing wealth”

    Urgh, that was uncomfortable to say.

  • It’s NOT a get rich quick scheme

    While you can make significant money very quickly with crypto, I wouldn’t enter with the hopes of doing so.

    The market is too volatile to be reliable, so unless you time your buys and sells absolutely right (which you won’t), it’s best thought of as a mid to long term investment. I would NOT invest money that I might need in the near future, because that means I may need to pull my money out when the market is down and/or at a loss.

    I’ve entered with the intentions of keeping my money invested for at least a year, with the hope of skimming profits.

  • Insane volatility

    The market is as volatile as sloppy shit; watching (and feeling) daily swings of 30% is normal and frequent, which my bowel movement and vomit-bucket can attest to. What a wild bloody ride!

    I’ve chalked up the volatility to the following reasons:

    • The market can be manipulated, and it often is by early investors and organised groups that hold enough “stock” to crash and short the market, squeezing out weak and novice investors, so they can sell high and buy in low again. It’s a problem and it’s very annoying, but ultimately it doesn’t stop the market moving forward in the medium to long term. Fortunately, their power dilutes as more retail investors (i.e. every day people like you and me) enter the market.
    • Since the market is still in its infancy and driven by speculation, movement is triggered by current news and the consequential emotional impact. For example, a single Tweet from Elon Musk alone can send the entire market into a mindless frenzy for absolutely no real reason. Which is happening right now.

      My response to that…

    You do get used to the swings even though they’re triggered by nonsensical garbage, but you definitely need to acclimatise. As you can imagine, watching a £10k investment shrink to £7k in the space of 24 hours can be debilitating. Of course, watching it swing the other way can be more beautiful than the birth of your first newborn.

  • It’s not for pussies

    Not everyone will have the stomach for crypto. I personally don’t think it’s particularly high-risk, but the volatility is objectively frightening and gut-wrenching.

    Crypto stress

    Now that I’ve adapted and tasted the sweet nectar of the chaotic swings and nonsensical rewards, I’m hooked. Actually, addicted. Alas, I can’t ever imagine getting excited about the traditional and mundane stock market again. What a snooze-fest! Crypto is traditional stocks on steroids. I’m not ready to get off this high just yet, but there is a chance I’ll get thrown off (i.e. liquidated).

    I’ve heard many people say the same thing: once you go crypto, you don’t go back!

  • It’s still early

    Crypto is still in its infant stages. Apparently only 1% of the world population has invested in crypto, but it still has a stonking market cap of over $2 trillion! To put that into perspective: gold, which has been around since dinosaurs, currently has a market cap of $11 trillion. It seems inevitable that the crypto market will command and conquer gold.

    Who the hell invests in gold anyways?

  • Cryptocurrency is the future!

    While I can’t fathom why or how a single virtual coin can possibly cost £30k, or how we ended up in this eco-system where people are paying for farts, I do understand that Cryptocurrency technology is going to change the world. It’s imminent.

    Once you peel away the unfathomable money-making aspects and delve into the technologies and fundamentals behind some of the projects, you’ll realise why it’s not a scam, and why it’s important for the future.

    For example, I’m strongly passionate about the Cardano Foundation and their native cryptocurrency ADA. The organisation is working on providing millions of unbanked people in Africa access to digital banking for the first time. They’re also working on digitalising students’ academic records, which will increase higher-education and employment for the 80% of students who live in rural regions.

    Bear in mind, this market is powered by sentiment, so the fact ADA has no real utility right now means little – we’re gobbling up the vision. It does help that the organisation is backed by the best minds in the business, of course. Side note, in the past week I doubled my initial investment with ADA.

    There are many awesome projects like ADA in the crypto space, pledging to make the world a better place through tech.

  • Cryptocurrency lingo!

    It’s all so silly, but there is a certain charm to all the silliness:

    • Diamond hands – someone that doesn’t sell when the the market dips.
    • Paper hands – someone that shits their pants when the market dips and ends up frantically selling at a loss.
    • “HODL” – hold your crypto (i.e. don’t sell). You’ll hear the community frantically scream this notion when the market is tanking!
    • “Buy the dip” – You’ll also hear this being screamed from the rooftops when the market is going to crap. The sentiment is that you should be buying when there is blood in the streets, and when everyone else is too scared shitless to invest another dime (because, in theory, that’s how you make the most gains).

      Buying the dip is easier said than done!

      Believe you me, when the house is on fire, the last thing you’re compelled to do is continue dancing in the living room. I’ve found the process of “buying the dip” to be a complete head-fuck, and I always regret it when I don’t do it. Also, there’s nothing more infuriating than buying the dip, only for the market to dip even further shortly after! Catching the absolute bottom is rarely done, but when it is, be thankful.

      Actually, the market is pretty tragic at the moment, it’s been in a slump for a few weeks (all pretty normal, but terrifying for anyone that isn’t used to the volatility), so I’ve been doing my best to fight my natural urges to cry, sell and abandon fucking ship. Instead, I’ve been buying more and dollar-cost-averaging my existing investments, but it’s so freaking scary.

      If there’s ever a good time to get into the market, it’s probably during times like this (at the time of writing this blog post), while the market is going through a major correction.

    • Don’t “FOMO” – don’t buy a currency that’s rocketing because you’re fearful of missing out on the gains. Trying to latch onto an airborne rocket usually results in free-falling back to earth without a parachute, face first.

      Been there, done it.

      Still do it now and then.

    • Whales – these are the people that hold huge amounts of currencies, and have the clout to short the entire market and/or certain currencies.
  • Cryptocurrency investment strategy

    My initial approach to investing in crypto was to randomly spread my bets across several currencies and hope for the best.

    I’ve noticed that most of the top 1 – 50 cryptocurrencies eventually increase in value, so remarkably, “hit and hope” appears to be a profitable formula.

    However, it’s well worth looking into the fundamentals behind each project/crypto. For example, what real-life problem it’s trying to solve, and what their roadmap looks like. Projects with appealing fundamentals are more likely to succeed and yield decent returns in a speculative driven market.

    For the parabolic 100x – 1000x gains, you generally need to go far beyond the realms of the top currencies, and invest early into new currencies that are highly speculative (but have good fundamentals). In order to find those gems, you either need to make a calculated decision after some research, or take a wild guess and dart a random horse in the ass (like I did with Hoge Finance). Obviously the risks are greater, but so are the rewards. Most of them will fail, some of them will be scams, and a handful of them will rocket to the glorious moon!

    I’ve found that the most obvious approach works best: buy the dips and HODL (i.e. do NOT panic-sell), and regularly take profits! Don’t FOMO, buy coins when they’re down (in the red)! *cough* yes, I know, I’ve yet to follow through with the taking profits step. I’m working on it.

    The strategy is dead easy in theory, but insanely difficult to execute when you’re in the moment.

    Unfortunately I’ve made every mistake in the book – defied common sense – and literally lost thousands in the process.

  • Bitcoin is King [for now], unfortunately

    I don’t really understand why or how, but the entire market is held hostage by Bitcoin.

    What I mean by that is, if Bitcoin drops in value most of the other currencies follow in the same direction. It’s a tedious situation, especially for someone that doesn’t invest in Bitcoin. Why should my coins tank just because a bunch of numbskulls are extracting their money from Bitcoin?

    Out of all the currencies Bitcoin has the biggest market cap, and the vast majority of money is invested in it. I think that’s why it’s able to dictate the market, but I don’t really understand how it all ties together.

    The answer is probably as preposterous as the entire crypto market, so I’m better off not-knowing.

  • The market cycle

    The property market cycle goes through booms and busts. Similarly, the crypto market goes through bullish and bearish cycles, which historically follows a 4-year cycle pattern. We’re apparently in a bull cycle right now, which, according to history, is expected to end in September.

    The previous bear cycle in 2017 saw the market get crushed by a gut-wrenching 90% sledge hammer.

    YEAH, FUCK THAT!!

    I plan on making a dash for it long before September even though many speculate that the upcoming bear cycle will be significantly less brutal and perhaps even delayed, because there’s much more institutional investment this time around.

    Yeah, cool. I won’t be taking that chance.

    I will, however, invest again during the bear market, because that’s when most of the gains are made, before the lead up to the next bull-run.

    Timing is everything in this game.

Property Investment Vs Bitcoin/Cryptocurrency! Do I think cryptocurrency is a better investment than property?

Don’t be so ridiculous.

Actually, it’s really not a case of one being better than the other, even though property as an investment actually makes sense, unlike the virtual farts.

Yes, my ROI from crypto makes my returns from property look like a fool. A complete joke! But property investment still reigns.

As said, property is my foundation; it’s solid, reliable, consistent, and that’s why it’s the best investment I’ve ever made. Crypto has none of those qualities.

The reality is, if I didn’t have my financial bedrock lined with property investments (and liquid cash in my piss-poor ISA account), I wouldn’t touch crypto. Nope, not even with your dirty, gangrene 10ft pecker.

Cryptocurrency is a hedge, and more of a side-hustle. I’m enjoying the learning process like it’s a hobby. It’s really quite fascinating when you start looking into the details, and discover how much misinformation is out there (i.e. Bitcoin is mostly used by criminals to launder money, it’s bad for the environment etc).

Bottom line: unlike property, I wouldn’t rely on crypto or make it a substantial part of my investment strategy.

How to start investing in cryptocurrency

I haven’t decided if the sheer ease of investing in crypto is a good or bad thing. It’s so damn easy to start, and it’s even easier to get hooked.

But then again, perhaps it shouldn’t be difficult. Maybe we’re so used to everything being difficult because we’re so used to centralised and government controlled opportunities.

Out of my circle of friends, I was the first to start investing in crypto. After they caught a glimpse of the success I was having, they naturally wanted a piece of the action. I was genuinely fearful of recommending or advising them to follow the path I was on, because the guilt of any incurred losses would weigh heavy. It’s a fast paced environment, so while you can make a lot of money very quickly, you can lose it all even quicker! And so many do.

But at the end of the day I can’t stop them, they’re fully grown chumps after all – capable of making their own mistakes. With that said, I did take it upon myself to part with some wisdom before they started their journey, which I’ll also share with you (most of it is good old common sense):

  • Don’t invest what you can’t afford to lose. This particular advice landed on a set of frightfully deaf and hairy ears; a certain friend literally invested his entire divorce settlement money, which was meant to be used for a deposit for a house. No, I’m not joking!.
  • If you REALLY want to start investing, then invest a very small amount (e.g. £100); buy and sell a few assets and get to grips with the system and the market conditions This nugget was completely ignored by all but one of my friends. “All or nothing” was the favoured approach *slaps forehead*
  • New crypto investors generally don’t practise patience and they have woefully unrealistic expectations. As with 99% of investments, you’re not going to become a millionaire overnight! Patience is key! Specifically, if your crypto isn’t popping off, do not get frustrated, do not panic-sell, just be patient!
  • Dollar-cost-average (DCA) into your investments! Don’t go all in from day one; keeping money on the side-lines for the imminent dips is a winning formula. For example, if you want to invest a total of £1000 into crypto, start by investing £200, and then slowly increase your position (i.e. spread out your buys).
  • Don’t come crying to me if you lose the shirt on your back! I tried warning you, dick-face.

Trading Exchange / Binance

Binance: Bitcoin Exchange

Binance: Bitcoin Exchange

There are tonnes of free exchanges to buy/sell cryptocurrencies on, and each will offer a different array of features and currencies to trade. It’s important to use a reputable one that gives priority to security above anything else. Over the years many exchanges have been hacked, and as a result millions of funds have been stolen from user accounts. Crypto is an unregulated market, so the chances of recovering those funds are virtually zero.

UPDATE: Binance has temporarily suspended onboarding GBP onto their platform, so in the mean time, I recommend using Coinbase Pro (which is the trading platform I am using during the interim, until Binance is back up and running in the UK.

I use Binance, which is the most popular cryptocurrency exchange in the world, and I believe it lists the most currencies to trade. I’ve tried a few others, but they’ve been binned for various reasons.

  • Binance is free (I think most exchanges are, to be fair)
  • Transaction fees are super cheap (I don’t even notice them)
  • You can invest as little as £20
  • It’s quick and easy to cash out
  • I like their app. Coinbase Pro is another extremely popular and reputable exchange, with a friendly interface.

If you’re a bit of a technophobe or struggle with apps in general, you’ll probably never make this journey. I’m sorry.

If anyone plans on actually using Binance, I recommend depositing funds via “Faster Payments”, and NOT directly from a debit card. While the latter is easier, it does incur a 1.8% transaction fee. I made this mistake several times at first. I truly hate myself sometimes.

This is NOT a sponsored blog post. If you’ve read my policies you’ll know I don’t accept sponsored blog posts in any shape or form. However, the Binance link is a referral link, and the only reason I’m using it is because everyone that opens an account with Binance is given a referral link to share. If you do use it, amazing, and many thanks! We’ll both be rewarded with extra coins with every buy.

Recommended resource to learn more

The amount of hours I’ve recently spent researching and studying the crypto space is likely unhealthy, but it’s been thoroughly enjoyable.

My YouTube “Subscriptions” list has quickly been filled with Cryptocurrency content creators. Many are obviously bell-ends, some are cool. I think the best to follow and learn from is Coin Bureau. The geezer is terrific and very likeable. We’re very similar.

Right, I’m done!

Apologies if you have absolutely no interest in Crypto and reading this has been bloody murder. Don’t worry, I will return to regular property crap very shortly. With that said, if there’s one nugget of information worth extracting from this blog post, perhaps it should be that diversifying is healthy.

Hopefully I’ve made it clear that I’m not a crypto expert, but if you have any questions about the subject, drop a comment and I’ll do my best to give you a response that isn’t 90% inaccurate.

If you’re already a crypto-dork, let’s have a mothers meeting in the comments section! I’d love to know which coins you’ve filled your bags with.

Over and out,
The_Crypto xo

121 Join the Conversation...

Showing 71 - 121 comments (out of 121)
The Landlord Avatar
The Landlord 19th May, 2021 @ 11:55

@Benji

Oh, ha, well, either way, my point(s) are still relevant!

It's all a gamble.

71
The Landlord Avatar
The Landlord 19th May, 2021 @ 12:01

@Benji
I did want to be completely transparent with my trades, but it's too difficult.

According to Koinly (tax software that tracks all my trades), I have made 689 transactions.

I've done a lot of dollar cost averaging during the dips, and swing traded along the way.

What I can is that I bought into Hoge when it was 0.000002 and it's now 0.0004352, so that's quite a significant return.

I bought into ADA at 0.64p, and it peaked at 1.74p in the space of a couple of months.

72
Guest Avatar
Chris 19th May, 2021 @ 13:53

IMHO, the world is full of computers, tablets and phones, all connected and constantly creating value. The idea that this online value creation should then have to be abstracted out into some old world Fiat currency before it can be used, stored or transferred makes no sense.

73
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Sean O'Dwyer 19th May, 2021 @ 14:31

I've created and account on Koinly, and was impressed with the details (although it doesn't like Binance API much and had to import the details from the csv). Then looked at all the transactions and was impressed until I tried to look at a tax return. That's when the final bit of the puzzle can cost a lot of money. It was disapointing to fine that there is no mention of cost in any of it's videos, and just seems to generate without asking for money.
Are there any free ones out there that are as good?

74
The Landlord Avatar
The Landlord 19th May, 2021 @ 15:10

@Chris
I think the idea is that it's decentralised (i.e. not controlled by government or a large organisation), that's why it has to be in the "out world", as you described.

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The Landlord Avatar
The Landlord 19th May, 2021 @ 16:46

Dear Lord, I hope some of you bought the dip. The flash-crash was brutal, but this recovery looks beautiful...

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Emma 19th May, 2021 @ 19:34

So glad I got on it yesterday NOT..... I actually listened to what you said and did a tiny practice run. Now slightly obsessed despite a 30% loss I’m thirsty for this. Are there key times UK wise that the market tends to move? I can see this will be keeping me awake at night...

77
The Landlord Avatar
The Landlord 19th May, 2021 @ 20:13

@Emma

Welcome to crypto, Emma! The volatility is addictive, for sure.

Haha, I wish I had posted this blog post today or tomorrow, because as you probably saw, the market went through a major correction today, so it seems like a good entry point, in my opinion. I took a 35% hit at the bottom, but now it's recovered quite a bit, so only 10% down, but I'm hoping I will recover everything soon'ish and go into further profits. I'm not worried, although my stomach did sink when I saw 35% vanish in the space of a couple of hours. Haven't felt a swing like that before - those are quite unusual, relatively speaking.

I can only tell you what I have noticed over the past couple of months:

- During the weekends, especially Sunday, prices tend to dip.
- During the week, when the Americans start waking up, around 1-2pm GMT, for some reason the market also dips a little.

I usually try to buy during those times unless something else causes a dip at other times. But as said, the market just went through a major correction, so now is a good a time as any to enter.

I've formed a nasty habit of waking up multiple times in the middle of the night to check the market. It's horrendous to see what I have become.

Earlier, I heard someone say, "You got to be a little bit coocoo to be in crypto"

It's true!

78
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Zak Martin 19th May, 2021 @ 20:24

I am playing it safe. Joined Pi which is run by 2 Stanford University graduates i believe. They have reached over 17 million users. All i have to do is mine everyday and soon (before the year end) they will stop the mining and set a price. Word is that it will have the same success as Bitcoin. I havent spent a penny which is always a bonus :)
Interesting to see what happens

79
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Crypto purist 19th May, 2021 @ 21:08

@The Landlord

Thanks for the great reply. I see you've fallen for the Store of Value myth (so prevalent on censored/manipulated forums like r/bitcoin). It just fell 30% how is that storing value? It is not storing it's speculating (and there is nothing wrong with that).

Stocks provide value outside of the speculation. Stock money is used to produce smartphones etc. The non-speculating, dividend, value you get back from stocks comes from the profits of sales etc.

Crypto (without any other use) doesn't provide any value. Sure it looks great when going up, but long term, it's just tokens produced cheaply from electricity (or with Hoge printed out of thin air by the developers) and sold to greater fools. Eventually the world will run out of fools. I accept that will not happen for decades, but when it does the long term value is zero.

However, if any crypto**currency** (the clue's in the name) is used as common as cash or credit cards for fees as low as fractions of a penny. Bang this will be the epoch changing moment. This is when the many flaws of BTC's Lightning network will be exposed. Sure ETH's contract model also has value, but I'd argue it's small compared to currency.

I suspect a black swan moment for crypto that will dwarf the current correction. Tether is a basket-case that's driven too much of the market over the last few years.

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The Landlord 19th May, 2021 @ 21:41

@Crypto purist
No probs, thanks for entertaining my reply.

Ahh, I see you've fallen for the tether FUD...

https://www.youtube.com/watch?v=uGF_l2gce4U
https://www.youtube.com/watch?v=37RhfyDVwOU

Crypto has fallen by 30% many times before, it's normal. I mentioned the swings in my blog post, but you're saying it like I should be surprised by it. As always, Bitcoin hit a floor and the recovery is in process (hopefully). My only regret is that I didn't post this blog post today, would have been a great buying opportunity.

I'm 10 - 12% down from yesterday at the moment. Didn't the stock markets dip today as well (by a relatively large amount)?

Yes, it's all speculation, but so is your prediction.

BTC will never be used as currency to replace cash, everyone knows that.

Firstly, it's not very efficient - those flaws have been exposed, it requires too much energy and it's slow compared to other blockchains.

But more importantly, BTC only has a limited supply, once it's all been mined, that's it! So that's why it's considered "digital gold" (https://www.youtube.com/watch?v=iiHLOgFkdNk) because of it's scarcity, it can never be digital cash.

However, currencies like DOGE, XRP, and Dash are designed to be used like cash, especially since they're inflationary (i.e. more supply is continually added to the market, just like cash), and they're much more efficient, capable of handling large volumes of transactions.

No offence, but I honestly think you need to do more research (you might like what you learn)...

In any case, I have no allegiance to crypto, and as I said, I think it's silly and none of it makes any sense (the tech does, but not the market caps/coin prices) - it's magic internet money to me. But I am going along for the ride, because the money making opportunity is real (and fun). I've seen it.

So you can either sit there complaining about how it's all nonsense, or you can join in with the fun! The former seems pretty unproductive, and comes across as grouchy :)

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Benji 19th May, 2021 @ 22:52

"I'm 10 - 12% down from yesterday at the moment. Didn't the stock markets dip today as well ?"

Listen to yourself. Very carefully.

The FTSE is down today by about 1% and the S&P is down by less than half a %.

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The Landlord 19th May, 2021 @ 23:06

@Benji
*slaps forehead*

Did the concept of relevance really go over your head? 1% is like a 12% swing in crypto. Were you really not able to piece that together? I spoke a lot about the volatility and huge swings.

When you make 1% in one day, someone in crypto will effortlessly make 12%. The swings are relative.

In any case, I wasn't specifically talking about the FTSE. A lot of global markets are down because of inflation fears.

Listen to yourself.

Probably not worth being so bitter just because you're not down with crypto. Christ, what's wrong with you? Feel free to stick with your returns with the FTSE, and I'll stick to crypto [for now] :)

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Neil 20th May, 2021 @ 10:25

@Crypto purist

Much like you I was sceptical of the value of Bitcoin and other crypto's until I took the time to research in in more detail. My investment preference has always been to invest in assets that generate revenue such as property and stocks. As such, I have avoided what I consider to be speculative commodity such as gold, art and crypto… until recently. This is why, perhaps my first venture in to crypto was to build a mining rig (see my earlier post). In essence this rig processes transactions on the blockchain and I receive my "cut", much in the same way that Visa does for processing credit card transactions. Whilst I may have made more profit by investing directly in crypto, I still make money in a falling market, as people panic to sell crypto, I earn higher fees due to network congestion.

Now I'm not suggesting that everyone should build a mining rig but the above point illustrates how democratised crypto is compared to our current banking system. You too can participate in this by providing liquidity to the market through a decentralised automatic market maker and generate revenue even when the market is down.

"Crypto (without any other use) doesn't provide any value" I'd argue the contrary:

1. Almost 40% of the world's population remain unbanked. Disproportionately, these unbanked are women, poor and uneducated and are prevented from having access to financial services. Crypto allows any person to trade (internationally!), you just need a mobile phone. It does not judge...

2. Cryptocurrency is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. As such it provides protection against inflation and allows trade to continue in countries where there is no confidence in the native currency (Zimbabwe, Venezuela etc).

3. Crypto offers a monetary system which can process transactions on a peer-to-peer basis without the banks deciding who and who cannot participate.

The above is not exhaustive but I’d suggest it should cause doubters to reconsider their position, at the very least!

To you point about Hoge being “printed out of thin air by the developers”. What do you think is happening with fiat currency at the moment?
In the past 12 months alone, the Federal Reserve has added 25% to the total money supply!
This does not include Biden’s new stimulus package. The supply of USD is about to go parabolic; how long can it survive at these levels? The USD and the sterling have not been linked to gold since the early 70’s so where is the value in these currencies when a government can increase the supply so significantly? The effect of QE I believe will be less pronounced in the UK: However, this gradual creep towards pure money printing is why inflation will end up being the biggest theme of the coming decades and make us all poorer, particularly the young.

There’s more to say but that’s enough for now!

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The Landlord 20th May, 2021 @ 10:35

@Neil
Great comment.

I actually got into Crypto after listening to Charles Hoskinson (ADA founder) and his mission to help the millions of people in Africa become banked for the first time. That was the catalyst that encouraged me to do more research (and as a result, discover how important and imminent adoption is).

I think everyone should be sceptical of crypto, but they should also take the time to do research before making binary conclusions.

Side note, Hoge is deflationary (original supply 1000 Billion, circulating supply 410 billion and decreasing). Again, I must irritate, Hoge is a memecoin, it's high-risk. I got lucky with a very early entry point, so I'm not recommending anyone to invest it.

I'm amazed that more people aren't concerned by inflation and the devaluing of fiat currency.

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Derek turner 20th May, 2021 @ 11:25

Has anyone used the Revolut app for crypto trading?

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Crypto purist 20th May, 2021 @ 20:26

I've watched Videos defending tether. They all miss the point:

Tether launched claiming
* 100% backed by cash reserves
* Fully audited

Both were and are complete lies. Have a close look at the Tether reserve breakdown linked here:

https://www.coindesk.com/tether-first-reserve-composition-report-usdt

Look at that large blue 75.85% labelled Cash or Cash equivalents... Then notice that Cash is 3.87%. In other words what they promised (and still in the Tether White Paper[1]) should have been 100% is now under 3%

Tether is and still remains a big fraud. Will it unravel? Maybe not. They survived the NY case with a peanut fine. I would hope that a multi-billion dollar fraud would fail at some point.

[1] Have you read any White Papers? The Bitcoin White paper is still followed by BCH. r/bitcoin deletes any mention of it. I wonder why? I purchased my first BTC for under 100 quid and have read a shed load of crypto White Papers, so your accusation that I do not do my research misses the mark.

Now can a deflationary crypto work as a currency? bitcoin.org seems to think bitcoin is not deflationary, but the better answer is not to fear deflation. e.g. https://mises.org/library/deflation-and-liberty-1

Having used rapidly inflating cryto as a currency, the mindset changes. When the value is rising, you spend it more as you want to realise your gains and **you still need to buy things**. When the value is falling, you buy the dips. Sure I've spent bitcoin on a beer and the value of those spent bitcoins would be several thousand quid by now. Expensive beer right? However will dollar cost averaging (adjusted to buy more when bitcoin is falling and spend more when bitcoin is rising), I've made those thousands back many times over.

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Crypto purist 20th May, 2021 @ 20:40

@Neil

> peer-to-peer basis

You've completely missed my point. peer-to-peer basis is a **use**.

If a cryptocurrency does not have that **use** then it is not a store of value.

Unlike you, I've never been sceptical of the long term value of Bitcoin as Cash (BCH). I'm sceptical of Bitcoin as a long term 'Store of Value' (BTC).

But it's been fun and profitable to use both as a massive 'gain of value'. Until crypto is actually used by those Africans (how patronising) you and @The Landlord keep going on about, we are still early adopters.

P.S. It's been a fun chat. Thanks for posting this blog entry. Shame about the timing.

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The Landlord 20th May, 2021 @ 22:04

@Crypto purist

I'm not defending tether and those videos don't defend tether either, they explain why it won't take down Bitcoin (which was your argument).

It's easy to say you have read whitepapers, but what you're saying seems inaccurate, so I think your research is incomplete or outdated. You said BTCs flaws would be exposed if it's used as common as cash or credit cards, which illustrates that you don't really know BTCs place in today's crypto market.

I never said a deflationary crypto can work as a currency. I never even said crypto will or can replace cash. I said that Bitcoin won't be used as every day currency and no one expects it to, because there are much better solutions with more suitable tokenomics.

Bitcoin has a limited supply - 21 million bitcoins can be mined in total.

Very few cryptos are actually designed to be a currency and store value, most are 'assets' designed to transfer information securely. So this whole currency issue is nonsensical anyways.

You're going a bit all over the place with your arguments, kind of arguing points I never even made.

If you're not down with crypto, no biggie! But I genuinely believe you're missing the bigger picture, and fighting something that is imminent. https://www.coindesk.com/ethiopian-education-minister-confirms-cardano-blockchain-partnership

Some cryptos are being used in real use cases, but most aren't. The problem is, in my opinion, you're so busy fighting the investment aspect of crypto, that you're missing the technology it brings to the table, and therefore not able to appreciate what it's all about.

Crypto is overpriced and it's baffling. But it's proven to be extremely lucrative, it is what it is, I'm not going to fight it.

Anyways, agree to disagree.

It's been a pleasure!

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Ian lourie 21st May, 2021 @ 06:47

I've read a shed load of white papers 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 bore off ya goon

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Jock Munro 22nd May, 2021 @ 07:17

A very interesting post which resulted in me looking into the possibility of investing in Bitcoin or similar. I'm already an experienced spread better and investor and look at it as an interesting hobby as well as a way to make money.

One thing not mentioned in your post, and which I found out as an aside when asking my spread bet platform provider how I can spread bet cryptocurrency, is that the the UK financial watchdog has banned companies from selling particularly risky types of investment based on cryptocurrencies to UK consumers. It came into force 6th January 2021.

On balance I'll stick with what I know but best of luck with it all.

As always I love your posts and whilst this one is certainly off the wall, I've enjoyed reading it and researching crypto. I now understand it a lot better.

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Benji 24th May, 2021 @ 09:07

@The landlord,

"just because you're not down with crypto."

On the contrary, I'm very much 'down with crypto'. It's a fascinating technology that will become widely adopted.

I'm just 'not down' with the shills pumping it and comparing gambling to investing.

*slaps forehead*

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Benji 24th May, 2021 @ 09:12

Incidentally;

17th May 2021 09.00hrs.
Ethereum (ETH) £2542
Cardano (ADA) £1.59
Ripple (XRP) £1.03

£100,000 equally 'invested' in them on 17th May 2021 would be 'worth' about £60,000 today 24th May 2021 09.00hrs. If you can find a buyer.

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The Landlord 24th May, 2021 @ 10:18

@Benji,

Are you actually sure you know what you're talking about? I think in your head you believe you do.

Find a buyer? I'm not trying to sell a house. I literally sell when I want on the exchange. I've NEVER had any problem selling on Binance. I can either sell "market rate", which is instant, or set an "order limit". Liquidity has never been an issue, especially with large market cap coins. Have you even seen the buy/sell orders?

Haha, your calculation makes absolutely zero sense, because you're assuming I have an equal investment. That's real pie in the sky BS. For example, I only invested £500 in XRP because it's currently going through a SEC legal battle. It looks like Ripple have a good chance of winning, and if that happens, their price should rocket. So I took a small gamble on that one.

I don't even know what you're trying to prove here. Even if my profit did reduce to £60k (which I promise you it didn't), that's 60k profit in a couple of months. I'm not going to cry just yet. I'm aware of the swings, I've felt them before.

Incidentally, I did skim some profits after this blog post, but I also bought the dip almost when it hit the floor, ADA is up 12% from 24 hours ago, and Ripple is up 7%, Eth is up 10%, Matic is up nearly 50%.

What is wrong with you?

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The Landlord 24th May, 2021 @ 10:27

@Benji
I haven't shilled anything. I've explained which coins I have invested in and how much I was up by. Is everyone that mentions their investments shilling? Come on, you're acting stupid here.

If I didn't disclose the coins or my "paper profits", and simply said, "I invested in Crypto and I'm up", you would have shat your pants. You would be sitting there asking me to tell you which coins, and wondering why I didn't disclose anything.

You're just next-level bitter for no apparent reason. Pretty bizarre.

Investment is gambling. Sorry!

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Benji 24th May, 2021 @ 11:05

First search hit of many;

https://www.forbes.com/sites/roberthart/2021/05/19/leading-crypto-exchanges-down-as-bitcoin-and-ether-plummet/?sh=40f9661954ee

Binance, Coinbase and a number of other cryptocurrency exchanges appear to have crashed or restricted trading amid a mass sell-off of key tokens Wednesday, worsening a slide over the past week that has cut $700 billion off the value of cryptocurrencies.

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The Landlord 24th May, 2021 @ 11:25

This is embarrassing. You're really clutching at straws here, Benji...

You said "If you can find a buyer.", implying liquidity issues. Now you're redirecting to outrages.

I can find those kind of issues for almost every trading exchange when volume is high:

"Hargreaves Lansdown suffers system outage amid record trading volumes" - https://www.ft.com/content/6b2f26f6-5dff-4218-beb0-59f544aebd5b

Wasn't Robinhood down during a critical part of the Gamestop fiasco? Yes, https://www.vice.com/en/article/v7mqe9/robinhood-goes-down-under-gamestop-stock-rush

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The Landlord 24th May, 2021 @ 12:01

Congrats to everyone that bought the dip and practises dollar-cost-averaging! :)

https://www.propertyinvestmentproject.co.uk/wp-content/uploads/Screenshot_20210524-124959.png

This is why I love crypto!

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Crypto purist 24th May, 2021 @ 20:07

> Very few cryptos are actually designed to be a currency

But that was exactly what BTC *was* designed for. It was literally the use case that drove Satoshi.

Yes BCH, ETH etc can also be used as programable money (BTC cannot) and that leads to other use cases, but front and centre it should be a Peer-to-Peer Electronic Cash System. https://www.bitcoin.com/bitcoin.pdf.

P.S. Allowing for and excepting your trading funds, Do you store your crypto on exchanges or in a wallet under your control?

Any way great to chat with you and keep up your valuable landlord advise.

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The Landlord 24th May, 2021 @ 21:08

@Crypto purist

This is so weird. I'm sorry, but are you just hell-bent on saying everything, besides from admitting that you're not really up to date on crypto? There's no shame in it. But come on, you've really taken us around the houses here :/

I don't know how much clearer I can be: BTC will NEVER replace cash/cards because technology/crypto has moved on significantly, so your original point, that Bitcoin will be exposed if/when it's used to replace cash is irrelevant. Most people hold onto Bitcoin because it's considered digital gold, they will not use it as currency.

This is like us discussing the times when silk and spices were used to trade. Times have moved on from the original Bitcoin white-paper. Technology has moved on.

Most of the crypto I plan on holding long-term is stored in wallets (both hot and cold storage wallets). I do keep some on the exchange, but they're cryptos I actively trade.

Thank you, appreciate it, and likewise :)

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Debbcatt 24th May, 2021 @ 21:51

Loved reading your article! Looks like we both got in to crypto at the same time.
Although the recent “dip” initially induced a sharp intake of breath and a change of underwear, I pulled on my big girl pants and went sale shopping and filled my bag. Diamond hands here, diamond hands 😄. ADA constitutes the majority of my portfolio and Charles is the man! Good luck! Fingers crossed, the Gods of the charts show mercy and we start climbing to dizzy heights again soon 😉 xx

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Benji 24th May, 2021 @ 21:57

@The Landlord,

Why the hissy fits for anyone daring to challenge your belief?

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The Landlord 24th May, 2021 @ 21:58

@Debbcatt
Thanks!

Haha, the recent dip was so brutal, absolute bloodbath! Oh man, I was so close to panic selling and protecting my profits! Thank God I didn't. I also put on my big girl pants and filled my bags, and today is looking a lot brighter!

ADA is also my biggest holding, Matic comes in close second!

HODL, buy the dips & diamond hands all the way! Let's go to the moooooon!

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The Landlord 24th May, 2021 @ 22:17

@Benji

Okay, I'll bite!

No hissy fit, me and @Crypto purist are having a perfectly civil and adult conversion. Although, I think the conversion lost it's way.

And I haven't really had a hissy-fit over an issue that challenges my belief. I'm just trying to explain why, today, BTC isn't a suitable solution to replace every day cash. That's not my belief, that's just the direction crypto has gone.

I have no issue with anyone who's not into crypto, or prefers traditional stocks. Either way is gambling, so who am I to judge? :)

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Crypto purist 25th May, 2021 @ 09:34

> admitting that you're not really up to date on crypto?

Can you admit that your research is all echo chambers and corrupt thought leaders? Thought not. We have a difference of opinion here and that's fine, but cut out the ad hominems.

>BTC will NEVER replace cash/cards

I completely agree. That's why the BCH forked off and is currently the minority chain. After the development team, Twitter and forums were highjacked by nefarious forces, newbies (see I can ad hominem too) like yourself really have fallen for the false 'store of value' narrative. All I ask is that you dig deeper.

start here: https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43

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The Landlord 25th May, 2021 @ 10:44

@Crypto purist

Haha, an article from 2016? Really? Come on! Did you just Google for a random article to support your narrative?

Like I've said several times, you're relying on out-dated information. Interestingly, the author of that article hasn't published anything since 2018. Perhaps he changed his mind since then? Imagine that!

Do you realise how far crypto has moved on since 2016? This isn't an archaeological dig, I don't need to "dig deeper", we're talking about technology - you need to dig closer to the surface so you're up to date. All you've fed me is out-dated information from the start.

In 2021, "newbies" like myself, including Goldman's, JP Morgan, Morgan Stanley, Ray Dalio (CEO of the largest hedge fund in the world), Ark Invest etc. have all invested in Bitcoin and have fallen for the "store of value" narrative. Or at least, they see what is happening, and it would be too risky for them not to hedge their bets.

Have we all fallen it? Do you think they are all wrong?

Bitcoin/crypto can be around and increase in value for 100 years and then it could go pop, and you'll say, "I told you so"

At what point will you actually believe, rightly or wrongly so, Bitcoin holds store value because there is a demand for it? Just because you don't agree with the value, it doesn't mean there is no value. What needs to happen for you to believe? Do you even know?

I've openly said I can't wrap my head around the amount of money being tossed into the speculative projects, but at the same time, I can see what is happening. I can't deny that, even if I don't believe in it.

Ironically, I don't think I have fallen for anything, I think I'm seeing the opportunity.

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Sara 25th May, 2021 @ 11:04

Incredible article! Thanks so much for sharing and for pointing to many useful resources. Do you keep your crypto on Binance or did you get a separate wallet? I hear crypto fanatics are all about having their own wallet but I am not sure as I am only investing a small amount. Would love your opinion!

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The Landlord 25th May, 2021 @ 13:22

@Sara
Many thanks, appreciate it.

I have most of my crypto stored in wallets. However, I do keep some money on Binance.

In my opinion, if I was only going to invest a small amount, I wouldn't bother with a wallet, especially if using a reputable/popular exchange like Binance. I'd be more wary of smaller exchanges though. That's why I emphasise how important it is to only use reputable exchanges.

The "crypto fanatics" probably have a lot of crypto, so that's why they are all about wallets. They probably have several wallets.

Of course, the safest way to store crypto is in a wallet, particularly cold storage (i.e. wallets that aren't connected to the internet).

If you do have a small amount and you do want to use a wallet (to increase security), there are some pretty good app wallets available like MetaMask and TrustWallet.

Hope that helps.

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Sara 25th May, 2021 @ 13:24

Very helpful! Thank you so much! :)

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Chris S 25th May, 2021 @ 13:51

I'll second that. I've been doing a load of digging, have settled on Biance as the exchange...but where to store it? Paper seems the way to go for longer-term holdings of BTC (although you need you PC to be spotlessly 'clean' and offline before you generate the codes), but what about cold/hot for other currencies? It's really worrying that the likes of Exodus/Atomic/Coinomi seem to be just password only (i.e not 2FA minimum, unless I've misunderstood). So what hot/cold are worth a look (without buying Trezor etc until I get really into it).

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The Landlord 25th May, 2021 @ 14:16

@Chris S
I did exactly that - I didn't bother with a wallet at first, but then when I started getting more serious about crypto, I ended up getting a Ledger Nano x (as my cold storage wallet). I also looked at the Trezor. Both industry leading cold wallets.

Reason I went with Nano X is because it supports all the coins I have, so that's something to bear in mind when choosing a hard wallet.

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Scott 8th June, 2021 @ 21:08

Landlord

Really good post. But you're now to blame for hours of time spent consumed by crypto.

For me the best thing about this whole crypto thing, is not the tech, the volatility, the 100x tokens hiding amongst the shitcoins (it's the equivalent of a decent shirt amongst the tat in TK Maxx) but this..

That you do the blog as a hobby (yes I get you probably make a minimal amount on it) and yet people have the audacity to pretty much fire abuse at you on your views... I shouldn't laugh but the stupidity of some people is beyond comprehension.

Keep up the good work.. or if you decide not to, do a proper Piers Morgan, say fuck the lot of you and take down the whole website. Let the dickheads throw abuse then ha ha

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The Landlord 10th June, 2021 @ 14:18

Hey @Scott
Many thanks, appreciate it.

Ha, you're in good company - the hours I have spent on consuming crypto content is ridiculous!

Come on, nothing is better than finding those 100x gems. Haha, the TK Maxx analogy is brilliant, trawling through the isles can feel like torture, only fit for those with iron stomachs (similar to crypto)! But oh man, when you find the perfect Fred Perry Tshirt, there isn't a better feeling!

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GriffMG 28th June, 2021 @ 08:26

And now Binance is being told it cannot conduct business in the UK (bbc : https://www.bbc.co.uk/news/business-57632831).

What does that mean in the real world?

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The Landlord 28th June, 2021 @ 10:09

@GriffMG
From what I've read, the information being circulated is misleading, because apparently it's only relevant to futures trading, and not the spot market. People are also saying it only applies to "regulated activity", which means store value assets, and it doesn't apply to utility tokens (which is what the vast majority of crypto is).

"Binance said the FCA notice would have no "direct impact" on the services it provides from its website Binance.com.

Binance's existing crypto exchange is not UK-based so despite the FCA ruling, there will be no impact on UK residents who use the website to purchase and sell crypto-currencies."

In any case, I personally don't think it will materialise to much. But this is a stark reminder of why it's best to keep crypto in wallets, and not on the exchanges.

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Mike 22nd July, 2021 @ 09:33

I think this is due an update, how's the £12k investment looking like now?

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The Landlord 22nd July, 2021 @ 10:12

@Mike
Took a hit with the recent dump, obviously.

However, as said, in a earlier comment, I sold quite a fair amount of my holdings (particularly Hoge) before the dump. Cashed out about 40%, so was happy with that.

In the mean time, I've been slowly dollar cost averaging some of my profits back into the cryptos I believe have the strongest fundamentals e.g. Ethereum, Polkadot, VeChain and Cardano.

As Baron Rothschild famously said, "The time to buy is when there's blood in the streets, even if the blood is your own."

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Farno 22nd July, 2021 @ 17:43

The Landlord 19th May, 2021 @ 16:46
Dear Lord, I hope some of you bought the dip. The flash-crash was brutal, but this recovery looks beautiful...

whats it look like now ???

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The Landlord 22nd July, 2021 @ 20:15

@Farno,
For me personally? Pretty good, thanks.

I'm still up quite nicely, crypto has been my best ROI this year, better than any property and traditional stocks.

As I've said, this isn't a get-rich scheme, and the market is volatile, nothing has surprised me. I'm still buying the dips and holding.

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The Landlord 22nd July, 2021 @ 20:24

On a side note, Farno, you do realise that this time last year Bitcoin was $10k, right?

It's $32k today, even after a major correction. That's what it looks like!

Zooming out of the charts helps give some perspective.

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Farno 23rd July, 2021 @ 08:45

Chart gazing first rule of brain wash investment strategy.

Your blog, without contradiction has singularly been the best blog and source of information in the property market EVER.

Disappointingly, for me (having had the experience of being wrong footed in the index trading world and volume electronic trades) now being undone by the stroke of the key board article on unrelated investment advice.

I still stand in owe of your experience and admire your professional blogging skills on the property industry, and I suppose the odd tip here and there wouldn't go a miss for the 3.15 at Kempton, but please stick to the script your brilliant at it.

And I do not in any way want to poor scorn on your investment skills and ability's, as no doubt you are probably brilliant at that to, but as someone once said
"Buy the dips / sell the highs / don't forget your stop loss and this time next year Rodney we'll all be Millionaires".
Keep up the great work

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