Crypto

What do you think about Crypto Currencies?

  • What's Crypto?

    Votes: 6 20.7%
  • Crypto is legit and it's the future.

    Votes: 16 55.2%
  • I know about it but I'm scared and no plans to buy.

    Votes: 7 24.1%

  • Total voters
    29

MI-FL Offroader

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I’ve heard good things about itrust but I haven’t looked into it. Isn’t there a monthly fee? A friend told me he setup his own self managed crypto Roth IRA but I’ll have to ask how he did it.
The fees are steep with itrust, but I'm happy with how it's performed so I can deal with it. I would def be interested in your friends approach.

Right now my Fidelity traditional 401k with NBC/Golf Channel sucks performance wise, and it's not getting the contributions it's supposed to. Pisses me off because I keep getting the run around from HR and payroll. They have had the "We are working at home because of Covid" BS narrative going for a year now, so no one answers the phone, and emails are almost like form letters.
I need to find a way to roll it over into the crypto. From what I have learned I won't be eligible for a year.

I've got one with Wells Fargo that doesn't do squat and another Roth with Vanguard that is so so. I'm behind in all this planning so I've had to focus on it more. The crypto scene has given me a little hope though.
 

J Prich

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What are you guys doing about tax stuff? I started playing with CoinTracker last night. Still trying to dial it in a bit.
 

Curtis Guise

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What are you guys doing about tax stuff? I started playing with CoinTracker last night. Still trying to dial it in a bit.

I didn't sell anything last year so I won't have to worry about it until next year. A few of the YT channels I watch always talk about cryptotrader.tax

If you sell or convert those are taxable events.
 

J Prich

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I’ve been using Coinbase to watch, Coinbase Pro to buy. I personally don’t plan to chase the next big thing so I’m fairly content to play the long game by sprinkling some money at the couple of “safe” bets and a little fun money on the gambles. It’s only been a few months for me and at first I was stuck to it trying to watch and time each move but as I settled in I’ve been co tent to just peek from time to time.

mostly I’m good with just getting in and letting it ride for 5-10 years and see where it goes. Everyone’s got their own strategy I suppose.
So MATIC was one of my "gambles" and I think it was a good choice but given the performance over the last few days I'm a little bummed I didn't throw more at it when I did, lol. Nature of the beast with any investment, crypto or otherwise. At the end of the day I personally am a pretty low risk investor so I won't lose too much sleep over it but it does give you a little emotional feelings when you think "what could have been" sometimes, lol.
 

Robin Hood

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So MATIC was one of my "gambles" and I think it was a good choice but given the performance over the last few days I'm a little bummed I didn't throw more at it when I did, lol. Nature of the beast with any investment, crypto or otherwise. At the end of the day I personally am a pretty low risk investor so I won't lose too much sleep over it but it does give you a little emotional feelings when you think "what could have been" sometimes, lol.

I don't look at Matic as a gamble...I look at it as a longer term hold and will add to my position.
 

J Prich

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I don't look at Matic as a gamble...I look at it as a longer term hold and will add to my position.
Yeah agreed. I think that speaks to what I mean by me being a “low risk” investor, lol. Cardano and MATIC are my “risky” options. I have a pension, 401ks etc so the crypto stuff for me is just for fun honestly. Who knows, maybe someday I can afford a UTV, lol.
 

Bro_Gill

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It's because China outlawed it. No Crypto in China, but you know how that goes. They want to replace the dollar with their currency on the world market, so they have to lock out the crypto their own people are trying to get to earn some financial freedom from the commie regime. Doesn't help that China is the second largest economy in the world and has the most populace country with more than 3 times the populace of the largest economy.
 

J Prich

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Crazy swing. If only I’d waited a month to jump in, lol.
 

Curtis Guise

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