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€100 euro Burning a hole

  • 02-10-2017 10:58pm
    #1
    Moderators, Regional East Moderators Posts: 21,536 Mod ✭✭✭✭ Agent Smith


    So, I've 100 euro burning a hole in my pocket right now.

    whats the best Cryptocurrency to invest in?

    Can i buy it initially with Paypal? How long before I can Sell it on?


Comments

  • Moderators, Technology & Internet Moderators Posts: 10,340 Mod ✭✭✭✭ LoLth


    Good question. Is there any interest in creating a "Crypto Currency 101" and "Investing in Crypto for dummies" style threads?

    I am sure there are a lot of people who have thought of investing or mining but havent got that final bump into action, usually through uncertainty or lack of knowledge.


  • Moderators, Regional East Moderators Posts: 21,536 Mod ✭✭✭✭ Agent Smith


    LoLth wrote: »
    Good question. Is there any interest in creating a "Crypto Currency 101" and "Investing in Crypto for dummies" style threads?

    I am sure there are a lot of people who have thought of investing or mining but havent got that final bump into action, usually through uncertainty or lack of knowledge.

    Lacking the space to mine, I'd Like to just dabble my feet in the water. My Idea would be to diversity my investments across a number of Crypto's.


  • Registered Users Posts: 1,494 ✭✭✭ Bawnmore


    LoLth wrote: »
    Good question. Is there any interest in creating a "Crypto Currency 101" and "Investing in Crypto for dummies" style threads?

    I am sure there are a lot of people who have thought of investing or mining but havent got that final bump into action, usually through uncertainty or lack of knowledge.

    I think an FAQ sticky would definitely be valuable here. As it becomes more popular here on Boards, we're going to see the same getting started type questions coming in that could be covered in one place.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    whats the best Cryptocurrency to invest in?

    Can i buy it initially with Paypal? How long before I can Sell it on?

    Define "best CryptoCurrency". Most are crap, some are good and have a utility or potential utility that gives value.

    Not sure about a PayPal service for crypto's, but I've never seen it mentioned before.

    As for how long before you can sell whatever-it-is on... Depends on your target.
    What do you realistically want that €100 to become?


  • Registered Users Posts: 5,170 ✭✭✭ enda1


    So, I've 100 euro burning a hole in my pocket right now.

    whats the best Cryptocurrency to invest in?

    Can i buy it initially with Paypal? How long before I can Sell it on?

    Buy crypto with Paypal is an absoute mare!
    I'd assume the only reason you'd consider doing it would be to avoid a bank seeing that you're investing in crypto (mortgage application?)

    You apparently can follow this guide but for €100 it seems pointless.

    Instead I'd find a friend who has BTC and transfer them the €100 for the market rate's worth of BTC.

    On your side, you can download a wallet onto your platform of choice (an example being electrum for PC) and share with that friend of yours your generated public address to which he can send your newly acquired BTC.


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  • Registered Users Posts: 11,812 ✭✭✭✭ sbsquarepants


    enda1 wrote: »
    Buy crypto with Paypal is an absoute mare!
    I'd assume the only reason you'd consider doing it would be to avoid a bank seeing that you're investing in crypto (mortgage application?)
    .

    Why would a bank be concerned about a 100 euro investment?

    I think at €100 what you are really hoping to do is to hit the next bitcoin by chance and have that 100 become a million in 10 years.
    It's extremely unlikely - but then it was extremely unlikely 10 years ago that it would happen for bitcoin. If you hit paydirt, happy days, if you don't - it's only 100 quid!


  • Registered Users Posts: 5,170 ✭✭✭ enda1


    Why would a bank be concerned about a 100 euro investment?

    Dunno it's just a guess. When they're studying transactions for last 3/6 months or whatever they do in Ireland then they'll see a transfer of €100 to Kraken or coinfloor or wherever. Don't know how that's perceived in Ireland. Judging by a lot of the public's view on crypto, I can imagine they'd see it potentially as a form of gambling.


  • Registered Users Posts: 11,812 ✭✭✭✭ sbsquarepants


    Oh right - sorry, I thought you had some juicy bank gossip!


  • Registered Users Posts: 4,790 ✭✭✭ opus


    You could always open an account with eToro and buy €100 worth of BTC that way. Best bet is to open a demo account with them first & see what you think with a virtual portfolio.


  • Registered Users Posts: 183 ✭✭ Drumorig


    The problem with PayPal is you can request a refund after getting your crypto thus ripping off the seller. That's why it's not really done.


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  • Registered Users Posts: 7,611 ✭✭✭ SureYWouldntYa


    This is what I done myself with €200

    Bought BTC on coinbase, 4% fees iirc. Was able to use a debit card but bank transfer is cheaper if you're willing to wait for it to go through.

    Transferred my BTC to my wallet on bittrex where I bought NEO, and you buy a lot of different altcoins on bittex

    With regards the best crypto thats something you'll need to do a bit of research on yourself and invest in something depending on your own risk aversion, you've got the safe big boys like Bitcoin and Ethereum and you've got countless altcoins if you wanna try to lose your money or win big

    You hold your crypto until you want to sell, if it rises 20% in an hour and you want to cash out there's nothing stopping you doing that


  • Registered Users Posts: 47 grazinggreen


    It's extremely unlikely - but then it was extremely unlikely 10 years ago that it would happen for Bitcoin.

    Even more unlikely considering bitcoin didn't exist until 2009. :)


  • Registered Users Posts: 48 ✭✭✭ Bitcoin


    If you want to trade the swings with something volatile, then I think Neo is worth considering. Huge interest for this in China and if you're patient you could see a dramatic gain in a very short space of time.

    Serious potential.


  • Moderators, Regional East Moderators Posts: 21,536 Mod ✭✭✭✭ Agent Smith


    Why would a bank be concerned about a 100 euro investment?

    I think at €100 what you are really hoping to do is to hit the next bitcoin by chance and have that 100 become a million in 10 years.
    It's extremely unlikely - but then it was extremely unlikely 10 years ago that it would happen for bitcoin. If you hit paydirt, happy days, if you don't - it's only 100 quid!

    This Guy.....


    pretty much yeah :pac:


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Be mindful that when BTC came out there were no worthwhile peers to mention and BTC itself was worth nothing until somebody used it.

    For €100 to become €1m nowadays & with the more "conservative" ICOs looking for €10m+, you really need that €10m cap ICO to turn into a €100b coin/token.


  • Registered Users Posts: 1,213 ✭✭✭ wally1990


    enda1 wrote: »
    Dunno it's just a guess. When they're studying transactions for last 3/6 months or whatever they do in Ireland then they'll see a transfer of €100 to Kraken or coinfloor or wherever. Don't know how that's perceived in Ireland. Judging by a lot of the public's view on crypto, I can imagine they'd see it potentially as a form of gambling.

    I'm after debiting and crediting thousands of Euro between my current account and coinbase and I recently took out a loan with BOI no problem at all


  • Registered Users Posts: 2,441 ✭✭✭ DeSelby83


    So if you had €100 right now to out into crypto what would you buy?


  • Registered Users Posts: 582 ✭✭✭ JaCrispy


    DeSelby83 wrote: »
    So if you had €100 right now to out into crypto what would you buy?

    NEO, OMG, IOTA or Monero. Really good time to be looking at altcoins.


  • Registered Users Posts: 582 ✭✭✭ JaCrispy


    JaCrispy wrote: »
    NEO, OMG, IOTA or Monero. Really good time to be looking at altcoins.

    Hope you took my advice. Last 24hrs for those four coins.

    NEO (+12%)
    OMG (+15%)
    IOTA (+14%)
    Monero (+5%)

    Pity I didn't take my own advice and invest in these myself :o


  • Registered Users Posts: 3,772 ✭✭✭ s8n


    Has anyone got any good “investing for dummies” guides for crypto, just starting out but fascinated by the whole world


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  • Registered Users Posts: 6,026 ✭✭✭ grindle


    s8n wrote: »
    Has anyone got any good “investing for dummies” guides for crypto, just starting out but fascinated by the whole world

    If there's an certain type of crypto you like the sound of, read their white paper, see what they think their asset can bring to whichever industry, check their subreddit/community and if everything seems like a functioning attempt to realise their goals and you think those goals are sound and necessary, buy if you like it.

    There you go. 'Crypto-Investing For Dummies™' in a paragraph.


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