You would normally withdraw it from the same Bitcoin exchange that was used to invest in it, usually by direct bank transfer. Any profits are subject to Capital Gains Tax and have to be declared on your tax return.So if you want to withdraw cash at some time, how is this done? I have a friend who has invested £200 in Bitcoin a few months back but now she wants to withdraw what she's made. She can't find out how to do this.
Can you explain to me why you think so? Genuine question because I don't get it.
I understand it is useful for criminals wanting anonymity on the internet - but that's hardly a big market (I hope) - not big enough to make investors lots of money (and not the kind of thing that I would personally invest in even if it were lucrative). However it has nothing else going for it that I can see - it's not providing a service that isn't already available and it provide no income. Additionally there are risks of losing it to cyber theft or just losing ones hard drive.
Added: there is an investment I see big returns for just now - companies developing robotics. There are at least two exchange traded funds available: RBTX and RBOT. That's where I'm putting my speculative money.
It's not just useful to criminals is it tho......real time secure transactions with no bank charges, taxes etc.
At the present time I agree.......The whole crypto market is a madhouse but when it's settled into the mainstream in future years then it could be adopted by business to business....plenty of benefits for international business transactions tooIt's far too volatile though. Lets say you want to transfer £10,000 for the sale or purchase of a car, at the time of transaction it could be worth as little as £7,000 or as much as £13,000.
It's not just useful to criminals is it tho......real time secure transactions with no bank charges, taxes etc. Offer many b2b opportunities in future....and that's before you look at the additional potential of the machine to machine micro transactions that the ever expanding Internet of things will utilise....
It's a punt...never said it wasn't.... trying to pick a winner from the emerging new crypto.....but there will be some winners and I'm hoping iota is one of them
Pretty much as I thought - still cannot see the point. Everyone can all already make real time secure transactions with no bank charges, and they can be micro (as small as 1 penny). And if it evades tax that's illegal.
Bitcoin has fallen another 8% today. I think it's a double bull trap rather than the big tumble but we'll see over the coming days.
Have you tried folding the new plastic banknotes? They just slip and slide all over the place!Sorry lads, but I'm old school. I like the folding notes in my leather wallet, in my pocket. If I want something, I save for it.
Have you tried folding the new plastic banknotes? They just slip and slide all over the place!
Bitcoin has fallen another 8% today. I think it's a double bull trap rather than the big tumble but we'll see over the coming days.
Be easy to hand two over at once without realizsing when they've just come out of the atm.Have you tried folding the new plastic banknotes? They just slip and slide all over the place!
Be easy to hand two over at once without realizsing when they've just come out of the atm.
Be easy to hand two over at once without realizsing when they've just come out of the atm.
I pay bank charges.....I don't know of any business that doesn't.
I also get charged transaction fees for international payments. I pay standing charges and transaction fees to paypal just to enable my business to take electronic payment.
Crypto has undoubtedly got the banking establishment rattled.....
Yes, thanks fp.
I own about 20 Litecoins on my Revolut account (if you haven't got one and you ever travel abroad consider getting one) I keep buying a few everytime they drop to about £20 per coin and will sell if they ever reach £200 again.I have a few hundred spare which isn't much I appreciate but it's enough I'm prepared to lose if it doesn't go to plan to double my investment etc...
What altcoin does anyone reccomend investing in? Also how does one select an altcoin?
I have a coin base account ready. Guessing these unprecedented times will make it more volatile that it was before Covid-19!
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Litecoin is currently at £32.31I own about 20 Litecoins on my Revolut account (if you haven't got one and you ever travel abroad consider getting one) I keep buying a few everytime they drop to about £20 per coin and will sell if they ever reach £200 again.
I've held some for a couple of years now, Selling and buying back at various points. For example it hit highs of £100 in June last year before dropping down to £20 some days it'll drop/rise sharply almost instantly. The beauty of having it on my Revolut account is that I can set a price alert that generates a push notification and can then buy/sell instantly via the app. There is a small commission for buying but not for selling.Litecoin is currently at £32.31
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Is it worth buying some to hold for 6-12 motnhs or so or are there better value altcoins out there?
My post was on topic thoughI'm suddenly getting bombarded with spam about various cryptocurrencies, and i have no idea why! Will never invest in them in a million years! But thanks for bumping this thread - read the first 30 posts before noticing the date was over 2 years ago!
Thought I'd BUMP this one as BTC soars well over the $50K per coin mark.........
Looking back at this thread makes me kick myself though......although not as much as poor old shmmeee.
Never mind. I still hold a couple grand worth of various lower value crypto, so one day my crypto boat may still come in.
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