Premium Bonds

[Leon103]

The way I look at it, if I don't win as much as I would have earned in an ISA, I'm paying the difference for the chance to win big.
And I don't need to keep an eye on interest rates and move things around if they change.
If I was much younger I would consider ISAs.

I never hear of people buying them these days, seemed more popular years ago, hence my reservation. I usually lock my isa in so no need to check interest rates.
May look to buy some bonds to see how it goes, I like a surprise win, hence my fascination with crypto

 

[matt.]

I never hear of people buying them these days, seemed more popular years ago, hence my reservation. I usually lock my isa in so no need to check interest rates.
May look to buy some bonds to see how it goes, I like a surprise win, hence my fascination with crypto

Crypto?
Do tell more. Unless there is a thread already on the subject?
Easy to buy and sell? Commission paid?

 

[Davegase]

Crypto?
Do tell more. Unless there is a thread already on the subject?
Easy to buy and sell? Commission paid?

I first became aware of bitcoin in 2011 on the security now podcast.
The closing price for Bitcoin (BTC) in 2011 was $4.25, on December 31, 2011. It was up 1,316.7% for the year.
I thought that sounds very interesting but I missed the boat.
Today's price for bitcoin is £76,000

 

[Leon103]

Crypto?
Do tell more. Unless there is a thread already on the subject?
Easy to buy and sell? Commission paid?

How long you got.
Not as easy as it was, should be, or will be in the future.
There is still a lot of scams about so join a trusted exchange such as binance. So many projects which is off putting. Most likely missed the boat on the current run, although about 10 months ish left of it. Anything bought now would be for long term.
No commission, you pay a gas fee, usually pence on a transaction.

 

[matt.]

How long you got.
Not as easy as it was, should be, or will be in the future.
There is still a lot of scams about so join a trusted exchange such as binance. So many projects which is off putting. Most likely missed the boat on the current run, although about 10 months ish left of it. Anything bought now would be for long term.
No commission, you pay a gas fee, usually pence on a transaction.

Oooooo.
I just took a quick look:
Binance, the world's biggest cryptocurrency exchange, has been issued a warning by the UK's financial regulator.

The Financial Conduct Authority (FCA) has ruled, external that the firm cannot conduct any "regulated activity" in the UK.

I think I'll stick to Premium Bonds, but thanks.

 

[Leon103]

Oooooo.
I just took a quick look:
Binance, the world's biggest cryptocurrency exchange, has been issued a warning by the UK's financial regulator.

The Financial Conduct Authority (FCA) has ruled, external that the firm cannot conduct any "regulated activity" in the UK.

I think I'll stick to Premium Bonds, but thanks.

It's because Binance wouldn't hand over customer details, hmrc want them for tax purposes. Same with all exchanges, this will soon change otherwise uk will fall behind in the crypto race.

 

[Clint]

A lad in work seems permanently ill through his ventures in bitcoin or whatever...

 

[Davegase]

I just had a quick look back to find the podcast I originally heard about bitcoin in 2011.
Security Now! Episode #287
At that time a bitcoin was about 93 cents !
If only I just invested in 10 bitcoin

 

[Leon103]

I just had a quick look back to find the podcast I originally heard about bitcoin in 2011.
Security Now! Episode #287
At that time a bitcoin was about 93 cents !
If only I just invested in 10 bitcoin

My average bitcoin buy price is less than $19k much lower than microstrategy who seem hell bent at buying the local top

 

[Leon103]

A lad in work seems permanently ill through his ventures in bitcoin or whatever...

Enjoying his earnings?

 

[samale]

I just had a quick look back to find the podcast I originally heard about bitcoin in 2011.
Security Now! Episode #287
At that time a bitcoin was about 93 cents !
If only I just invested in 10 bitcoin

That would be nice, I know a few boys who have did well out of it

 

[Clint]

Enjoying his earnings?

Nope...sick that he's lost so much.

 

[Davegase]

Nope...sick that he's lost so much.

Timing is everything !

 

[Leon103]

Nope...sick that he's lost so much.

If he held on then he would be a lot richer.

 

[Stu]

I think the youngsters who made money from crypto will struggle to buy houses. Not saying can't, but may struggle.

My Missus works in this game. Apparently many solicitors won't touch people who provide either money for houses or deposits if the money was made from crypto. I had absolutely no idea (I've held some before, but not huge amounts).

Was reading the same thing on the MoneySavingExpert housing forum too.
https://forums.moneysavingexpert.co...-property-history-of-cyptocurrency-investment

Long story short, someone invests in crypto. Everything above board - taxes, paperwork, the lot. Takes the money out, pays CGT and puts it into a Hargreaves Landsdown growth fund.

Because the original money was made through crypto, solicitors won't touch him, even though it's not been in crypto for over a year. Can't buy a house.

 

[Leon103]

I think the youngsters who made money from crypto will struggle to buy houses. Not saying can't, but may struggle.

My Missus works in this game. Apparently many solicitors won't touch people who provide either money for houses or deposits if the money was made from crypto. I had absolutely no idea (I've held some before, but not huge amounts).

Was reading the same thing on the MoneySavingExpert housing forum too.
https://forums.moneysavingexpert.co...-property-history-of-cyptocurrency-investment

Long story short, someone invests in crypto. Everything above board - taxes, paperwork, the lot. Takes the money out, pays CGT and puts it into a Hargreaves Landsdown growth fund.

Because the original money was made through crypto, solicitors won't touch him, even though it's not been in crypto for over a year. Can't buy a house.

Just say it was savings or inheritance. Or stay in crypto and forget about mortgages all together

 

[Stu]

Just say it was savings or inheritance. Or stay in crypto and forget about mortgages all together

Someone did suggest that.

Apparently, the original investment in crypto was from an inheritance. With savings, you usually have to prove it - up to 6 years of receipts.