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Does anyone invest in bitcoin?

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Bowdon:
I've been looking in to the possibility of getting in to the bitcoin buying.

As anyone on the forum bought either bitcoin or one of the other digital currencies out there? If so, do you have recommendations?

In these times of uncertainty I thought I better get some understanding of digital currency and how it works.

g3uiss:
Too volatile and doesn’t follow market trends meaning planned investments are totally guess work.

sevenlayermuddle:

--- Quote from: g3uiss on December 21, 2020, 07:23:59 PM ---Too volatile and doesn’t follow market trends meaning planned investments are totally guess work.

--- End quote ---

Agreed, applies to most investments, but especially unquantifiable ones.

If today’s news is to believed, given disruption to UK/France road haulage we’d have done well to invest in cauliflower.   If only we’d known.   There’s two in my fridge, which the minimum level I aim for,  but I could have got so many more in Saturday’s delivery.   ::)

Black Sheep:
When my Dad passed, he left me a bit of cash and I looked at 'Bitcoin' as a place to invest.

Being a low - medium risk taker myself where money's concerned, I dropped it like a hot potato. Waaaaaay to out there for me.

Opted to take out a portfolio with what I might call a proper investment company, and as a low - medium risk applied, I'm seeing an average of 8% growth over the years. Better than it sitting with the banks and I'm not having sleepless nights like I would with 'Bitcoin'.

It's down to your own personal risk taking.  :)

https://www.forbes.com/sites/forbesfinancecouncil/2018/12/05/the-top-10-risks-of-bitcoin-investing-and-how-to-avoid-them/?sh=7b2d13292407
 

Bowdon:
I think I'll give it a miss.

The main issue I've run in to is that some banks refuse to allow people to buy bitcoin, sadly my bank is one of them.

The way some people get around it is using another mobile app bank (Revolut is mentioned a lot) to transfer money in to there, then from there to the bitcoin exchange. It all seems more hassle than its worth at the moment.

Hopefully it'll become more accessable, especially if Paypal bring the ability to invest in to bitcoin to the UK. I think they let their US customers do it.

So I'll pass on this one, especially when you said its very risky anyway. It doesn't sound like its worth the hassle.

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