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Old 04-10-2017, 07:49 PM
Lorelyen Lorelyen is offline
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Join Date: Feb 2014
Location: UK
Posts: 6,059
 
I have an amount of financial advice on tap from me dad. We talked about cryptos recently when I decide to take a punt. He did years ago when one or two clients expressed an interest. At the prices of the time it seemed harmless though you needed a paper "wallet" at the time. When I started (hardware wallet) he sent me 1 bitcoin.

His view is use the currency to buy and sell things, keep for investment (comes with a risk) but don't day-trade - no spread-betting because it's truly volatile. I've kept a twice-daily record since Aug 29 and high to low has differed by about 30% against sterling. There's no rhyme nor reason to its behaviour on the daily charts. Sometimes it's high in the morning, other times in the evening. Perhaps in time it'll form a pattern.

But it does put the bank in your hands. Once you're in crypto, if your transactions stay in it, exchange rate doesn't seem relevant.
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