How Many of You Here Have Invested in Crypto? What coins?

So how many of OZBargainers have invested into Crypto and what are the coins they are holding? Furthermore, how much have you invested?

Edit: So I posted a comment for free $500 earlier but very few took an interest, so here is a proof of it: The exchange I was talking about was UPcoin, the $500 bonus deal is expired (you can see it on their homepage https://upcoin.com/ about $500). Here is a SC of me $500 bonus on my account. You can still join my discord group for the top and exclusive airdrops (I posted RiPT in my group which is now worth $75+) and now I have just posted another airdrop (free token) that is worth $40.

mod: Referral solicitation is not allowed

Poll Options

  • 66
    Invested $50K & Over
  • 22
    $30k-$49k
  • 72
    $10k-$29k
  • 80
    $5k-$10k
  • 312
    Under $5k
  • 96
    Crypto is a scam!
  • 386
    $0

Comments

        • I don't have any type of icons, which means I have to use AUD to buy coins. So by your comment you mean, I can only use Coinspot since I have no other coins to trade with?

        • @appletude: You can use Coinspot to transfer in AUD and buy coins, but as ankor said, it's got Bpay fee, and expensive transaction fees - 3% compared to BTC Markets 0.85% fee.

          Coinspot offers a lot more coins than BTC Markets, but you'll be paying for it. if you're only buying a bit, it might be ok, but if you're buying more or trying to trade - the fees will add up.

          There's better options - Binance fee 0.10%. (you'd need one way to get AUD to coins then transfer over)

        • @danyool: thanks heaps mate!!

        • @appletude: no worries.

          I posted a bit more in a later post (page 3) if you haven't seen it yet. Not that I really know what I'm doing!!! ;)

    • Wow. Have you got any tips on the resources you used to research what coins to invest in?

  • Tried making a coinspot account however after two weeks got an email saying verification failed. Any other platforms to buy and sell Crypto with easier verifications and quick turn around?

    • +1

      BTC market have that GreenID verification which technically verifies in minutes.

  • +2

    Put in a few k in July, over 100x ROI now. My main holdings (in order from largest to smallest) are ETH, DRGN, OST and BTC. I'm a big fan of B2B companies hence the DRGN and OST holdings.

    • +1

      Grats brah

  • +1

    Invested a bit six months back.
    Mostly ETH and BTC.
    Have not taken out as I will have to pay CGT.
    Waiting for the end of this yr.

  • +19

    Crypto currency is dumb because;

    1) I didnt get any
    2) I dont understand how it works

  • +2

    Initial investment was 30k

    Peaked at somewhere bit below mid 6 figures, dropped down a tad from the recent correction/crash

    Invested/Traded a bunch of coins like;
    ETH
    HST
    BNTY
    DBC
    CRED
    BCH
    PO.ET
    PFR
    OPT
    TAU

    • I haven't invested anywhere close to you but I believe $30k-$50k is a very good investment if you want to be in crypto. When did you invest btw?

    • I hold HST, BNTY and DBC too.

  • +3

    I mined dogecoin years ago just as a learning exercise for how crypto stuff worked.
    Have since lost wallet.
    Bugger.

  • +9

    A better question would be how many have realized actual cold hard AUD profits and after tax (including any loss of benefits) how much?

    VS

    How many have lost money, and how much?

    If you have $10k "invested" in a coin you're down $10k until you pull it out, given the speculative nature.

    I would be in mild shock if anyone on OzB said they'd actually managed to pull out enough cash to retire on.

    • +10

      only the people who started at the beginning or before the massive spike towards the end of last year have made any money

      • +1

        Bingo.

    • +1

      I know a lot of crypto “millionaires” but it’s mostly on paper because they can’t pull out such large amounts of tax without bank account getting frozen or ato taxing the hell out of it , ppl are terrified to cash out

  • +1

    I bought $500 of NEO. +300% at the moment. I'm just holding until it booms or busts. I know it's 99.95% chance of the latter, but like the dotcoms the underlying technology is so good that I figure one or two of these platforms (not ICOs) may survive the inevitable bubble bursting.
    It's also a pretty entertaining market to be in, a bit like penny stocks with all of the drama from holders online.

    • Great. I would set a limit sell as coin like NEO doesn't fluctuate that hard.

  • Mining is a good benchmark tool :) - some days I can buy an okay car other days a crapbox the next day a pizza (maybe not that last part *yet)…

  • +2

    Everyone outchea wants to find the next Bitcoin so they can make 10,000% per year.

    Sorry to break it you, but Bitcoin is the next Bitcoin and the shitcoin you just bought is the next Enron.

  • +1

    My view is that cryptocoins have no intrinsic value as an investment, but definitely happy to be persuaded otherwise.

    Serious question: are there any coins you would choose to buy today , if you could never sell them ?

    • +1

      Check out OmiseGo. Most tokens don't have value though.

      • can you please explain how that token has value?

  • +5

    $0….

    However I have 5 free EZ tokens thanks to ozbargain and they have so far bagged ;) waiting for them to reach $1000+

  • I sold some BC mid Dec 17 and had my bank account closed shortly thereafter.

    • Why was it closed?

  • I'm balls deep in ITC at the moment - $1000 bought in at $2.40 - sold at $11.30 and I've only just bought back in at $3.40 with my $5k~ - fairly good timing with the crash. Now just going to let it simmer over the year. Got high hopes for ITC.

    I also bought like 10 XRB when it was at $12 - regret not selling that when it was up to $45 - its currently sitting at around $19~

    • Dude I bought XRB at AU$50, think about me lol

  • +1

    NEO, XVG, POWR, IOTA and a couple others

    Invested $1,000 last august, peaked end of December at $18,000 now back down to $12,000.
    Holding for another year unless huge pumps give me major profits.

    Using coinspot as the trading platform. PM if you have any questions :)

    • Do you use a wallet to keep your coins off coinspot?

      • I hold ETH and a few tokens offline but the rest of my funds are through Coinspot.
        I know it's a gamble leaving them there but I have trust my funds are in safe hands as they hold most coins offline also.

    • Are you holding or trading? How do you calculate the tax liability for exchanging say, BTC to buy ETH? Also, are the Alts taxable?

  • +1

    I bought in early January, needless to say I'm not going well. I ams planning to hold my current investments XRP/ETH/SUB for a year to avoid tax, however the value of all my cryptos needs to go a bunch for me to ever have to pay tax :(

    • +1

      How do you avoid tax when cashing out? Isn't it just like any other investment, that even if held for over a year you have to pay half the capital gain % rate?

      • -1

        You pay Capital Gains Tax on every dollar over $10k. ATO Website.

        • So if you cash out $10,000 for the year you don't have to pay any tax on it? But if you take out more than that you do? Seems a bit odd, would like to know where that rule came from, as with share investments you have to pay CGT on any amount.

        • @pixxelpusher: Banks are required to report any transactions over $10k. If you move it around in less than $10k blocks it is less likely to be noticed by ATO.

        • +1

          @donga100: True, but the wording on the ATO site is very murky and I think is being re-evaluated as we speak. The other day on ABC The Business had a short segment on it, I'd be surprised if a lot of people don't get a letter from the ATO looking for some CGT on their crypto investments, even backtracking through accounts. In the interview they say "any amount" is subject to CGT, which is inline with standard share trading and makes perfect sense. Here are some links:

          http://www.abc.net.au/news/2018-01-30/bitcoin-cryptocurrency…
          http://www.abc.net.au/news/programs/the-business/2018-01-30/…

      • I figured that technical grammatical error would go unnoticed. "*for a year to avoid paying as much tax"

    • +1

      Waiting a year won't let you avoid tax, but it will allow you to pay less on CGT.

      • I agree, just keep hearing people say they're holding to avoid tax, which doesn't make sense. You still have to pay at least half the CGT%.

  • Took part in CND, ENG and KNC ICO's. Also hodling ICX, IOTA, XRP, OMG & UBQ.

    • in 5years time, there won't be any Ubiq that you invested in or ICX or CND or ENG.

      There will be however definitly BTC, ETH, XRP AND LTC.

      • I have cashed out my initial investment. Planning on selling my remaining coins in the near future to pay off my mortgage. Not planning on hodling more than a year.

        • so far ethereum is out of correction. its ok to hold on to it.

          i am sure this year is year of ethereum.

        • -1

          Anything over $10k will attract capital gains tax, if you held for more than 12 months you get a 50% discount.

          So if you held over 12months and you sold $20,000 worth you pay $10,000 x 15%(discounted) = $1500 Tax to ATO.

          The 15% will vary from individual depending on your tax bracket.

        • +1

          @mobius: $10k for personal use items. I don’t think this applies. It should be treated like shares where CGT applies to all booked profits.

        • +2

          @badarz: ATO Website

          Where you use bitcoin to purchase goods or services for personal use or consumption, any capital gain or loss from disposal of the bitcoin will be disregarded (as a personal use asset) provided the cost of the bitcoin is $10,000 or less.

          https://www.ato.gov.au/general/gen/tax-treatment-of-crypto-c…

        • @mobius: perfect, thanks.

        • +1

          @mobius:

          Up to $10k where said cryptocurrency is purchased for use as a medium of exchange, not as an investment. The paragraph is poorly worded. I'm not convinced the government decided to hand out a free pass on spending your first $10k worth of investment (in anything), with zero tax consequences. Speak to a professional

          See the quote

          "If you are not carrying on a business of bitcoin investment, you will not be assessed on any profits resulting from the sale or allowed any deductions for any losses made. However, if your transactions amount to a profit-making undertaking or plan then the profits on disposal of the bitcoin will be assessable incomee"

      • If you think Eth will last then surely Ubiq will too considering it is Ethereum but for Enterprise usage.

  • a lot of Australian Dollars. Well with the amount of money i have, i can only invest in coins with huge market cap. So i go between Bit, Ether and ripple for now.

    Right now ethereum is on the rise so thats the one i am mainly in. stay away from ripple for at least 6months

    • really keen why the 6+ months?

      I have been slowly buying small portions on the dips below $1.50 - this will go boom later this year.

      Whales are creating quite the hurdle towards its success.

  • +10

    i've been in crypto for a while have a decent amount (not as much as i liked but turned few hunderd dollars in five figures), but i don't have as much as many early adopters some of who i know are now millionaires (mostly on paper because many are having issues cashing out and afraid of unclear taxation).

    However i find it really annoying how the clowns and idiots in my office are suddenly claiming to be crypto experts and boasting about their returns and how they always pick the winning coins (all coins regardless pretty much went up 1000%+ in the last few months) in my office there is a guy who literally dances around every day when his next shitcoin pick doubles in value, when i've been telling people about crypto for a long time and laughed at / called a geek.

    Now the clowns are buying which is making me think it's time to sell all.

    I'm not calling you guys clowns, just mostly the idiots in my office and some annoying heads at some meetups i go to.

    • +1

      same here bro, exactly! when i told people to buy in 2years ago everyone thought im crazy putting my money into bitcoin

      • +2

        do you also have annoying clowns in the office suddenly claiming to be crypto experts / gods cause they got in 1 month ago? :P

        • +2

          well im self employed but have friends who the same friend who they bought bitcoin on its rise to 20K and i kept telling them to sell now and they said its going to be 100K straight and called me crazy again. well i sold mine at 19K and made a fortune. now i am retired =))

        • +1

          @shamid202: Did you pay tax on your fortune?

        • @mobius: i exchange between cryptos so as long as i don't cash them

        • @shamid202: What alt coins you holding? if you don't mind me asking…

  • What sites/forums do people recommend for research?

    • Reddit has a quite active community for crypto. But a lot of shilling as well so if you find a particular coin you're interested in, DYOR. Have a look at the problem that they are addressing, their team, partnerships, any products available and things as such

  • Started in July, roughly 8x initial investment.

    Largely in ETH, LTC and BTC. With smaller coins such as POWR and WAX hitting reasonable jackpots for me.

    Best one yet for returns has been Horizon State (HST) for me. It's blown out to my largest holding even with a reasonable pullback, hoping for another push up and will look to reinvest a fair portion of profits from HST across ETH and BTC.

  • -1

    (profanity) investing! I'm earning STEEM on Steemit. Real world application, zero transaction fees, and 3-second transactions.
    Happy Days ahead.

    It's also the sort of blockchain Ozbargain-coin could utilize. Just saying.

  • +4

    Seems like most people who are vehemently against crypto have a fundamental misunderstanding of crypto.

    I'm not in any way saying crypto is going to stay, be profitable or ethical.

    Some valid reasons against crypto were mentioned.
    It isn't backed by any commodities. It's currently overvalued due to mass speculation. Exorbitant exchange fees. These are just some of the better examples.

    Some erronious reasons.
    It is infinite. No it is (mostly) not. Omitting the sham and gag currencies, block chain is finite. A government can print currency or simply insert numbers into back accounts but crypto block chains are unique, hence the need for computing to generate new coins.

    Anyone can create crypto. Well fundamentally true, it doesn't mean they can take a DogeCoin and turn it into a BitCoin. Anyone can create any form of currency but currency requires mass acceptance for it to have value. The mass majority of crypto currency is will fade out of existence because most of these currencies are created but isn't accepted as a tradable currency. They're only increasing in price due to (mis)speculation.

    It is a pyramid scheme. Yes it exist and they refer to the mining syndicates and bogus (refer above for definition of bogus) currencies. People confuse crypto currency with crypto mining. Mining software often gets passed on with the caveat that a percentage goes to the programmer. You can remove these parts of the code and anyone can program the mining software. The currency itself is just a currency. Using the currency doesn't directly benefit other crypto users, and neither is there a hierarchy of ownership. It benefits the currency only because there is perceived increase in tradability.

  • -1

    Title should change to "How Many of You Here Have Invested Gambled in Crypto? What Is that a coin?"

    Bitcoin ain't no investment bro.

  • never got the asic when put in a pretty big pre-order with BFL, decided mining not worth it

    bought dogecoin in 2015, but lost most of its value before selling.

    almost all bitcoin lost when mybitcoin lost my coins, decided not to have all in an online wallet, but still lots a lot then again when mt.gox closed down in 2014 (lucky i had some in an offline wallet - later got corrupted and didn't have the key written down anywhere - but thats just a risk i guess - lesson learned)

    have been dabbling in alt coins, but have lost a bit to onecoin,
    DAO went way down after the hack and i couldn't sell my holdings,
    lost a fair amount to bitcoins savings and trust investment (despite getting good returns I invested them all back in and then they were gone)
    latest investment is DIMcoin, but not doing too well.

    crypto currency is the future, but there are just too many greedy people who try to steal other peoples money.

    I think i need to get into a good pump and dump group so I can increase my money a bit (was too slow in the last few i have been in and have lost money every time) if anyone has any invites let me know.

  • Ive got about $10k worth of OST Simple Token. Just gonna HODL . I put in $6.5k of my own cash

  • +1

    The fundamental issue I have with crypto is not that it's not useful, as I think it will be the future - everything will become digital - but that it's unregulated. So you have all these ICOs popping up everywhere for people to make a quick buck. It's basically a licence to print money. One day all the legit will consolidate and will change the world and our lifestyles, but for now, it's an amazing time to be alive where you can assemble a quick team, make a few million and walk away retired for life.

    Check this out, even the Whitepaper was half-arsed:

    http://www.podbum.com

    Whitepaper: http://users.neo.registeredsite.com/1/7/6/20482671/assets/PO…

  • Raiblocks!

  • -4

    Started day-trading with $10k AUD around mid-Dec. Had $20k first week of Jan. Now sitting on $80k+ AUD. Stopped day-trading after $20k and now mainly investing in ICO's and long-term coins (this is mainly due to starting a new job). Forcasting $400k end of 2018. Have a solid understanding on the fundamentals of blockchain tech, which helps analyse new ICOs.

    Currently holding STRAT (40% portfolio, got in at 0.00098 sats, missed the high at 0.0016). Looking into Nucypher.

  • EOS QTUM ELF ETH

  • +1

    Opinion on AusCoin ICO please.

    • BUY BUY BUY!
      great team.

    • +1

      Money grab. Stay away.

  • Noob here. Looking to invest about $5k in Crypto. where should i start? what should i buy and will appreciate any other tips!!!!!!!!!!

    • +4

      If your luck is anything like mine - whatever research you do, and think you're ready for - when you buy, be prepared to see the prices fall!!! ;)

      First step is signing up for (and being verified) on an exchange.

      If you just want basic coins (Bitcoin, ETH, Litecoin, Ripple) BTC Markets is good first step. BPAY in is free, and transaction fees are 0.85% (can be cheaper if trade more). You can also place limit orders (buy or sell at X price - good if you think the price is moving and you want to go out/bed you can just set it, and if price level is met, it will trade)

      Coinspot has a big selection of Alt coins, but costs 0.9% to BPAY funds in and 3% transaction fees!! (Ouch.) They do have Poli to transfer in with no fee, but $500 per day limit. Also, you just have to buy or sell at whatever price at the time.

      If you just plan to buy and hold for long term, either would be ok, but if you were thinking of trying trading a bit, Binance has very low fees of 0.1%, and no verification. (Or even if you're not trading and just wanted low fees)

      They have good selection of ALTs, but not everything, so you still might need to sign up for various exchanges.

      You'd need an Australian exchange first to deposit AUD then buy coins to transfer over. ETH or Litecoin is generally recommended as cheaper (and faster) than Bitcoin. I've done this from BTC Markets to Binance. To cash out you'd need to do reverse. (If your alt coin is on Coinspot, you could send to there without trading it back to ETH/Litecoin and then sell to AUD - but maybe compare fees and prices first)

      Also I wouldn't go all in one coin, diversify.

      Be prepared for checking the market at any and all times of day "oh, wonder what the price is?" ;)

      All the best

  • +3

    This has been turned into another Ozbrag thread. I suspect a lot of people are talking BS.

    • +2

      The whole crypto scene is just meme sharing or brag / shit talking.

      • There's thousands of folks that did make it, I wouldn't be surprised if there were a few genuine folks here that did.

        Crypto wasn't exactly a secret to a vast number of people who did their research

  • +1

    OP has invested in doge coin for sure…

  • About a year's salary, so $180k+

  • just paper trading.

  • You can see the potetial future of cryptocurrencies by glancing to the past.

    Will history repeat again?

    "Many individuals grew suddenly rich. A golden bait hung temptingly out before the people, and, one after the other, they rushed to the tulip marts, like flies around a honey-pot. Every one imagined that the passion for tulips would last for ever, and that the wealthy from every part of the world would send to Holland, and pay whatever prices were asked for them. The riches of Europe would be concentrated on the shores of the Zuyder Zee, and poverty banished from the favoured clime of Holland. Nobles, citizens, farmers, mechanics, seamen, footmen, maidservants, even chimney sweeps and old clotheswomen, dabbled in tulips"

    Read more here: Tulip mania

  • Mining count? Have made probably ~$400 from Zcash. Sold most, transferred some to XRP before the 'boom' and back to Eth.

  • Not a comment about what I own, but a commentary on the blockchain phenomenon.

    Blockchain technology is revolutionary! A lot of these new alt coins are solving some real world problems, and at the center of this is Bitcoin; the oldest and most tested coin.

    I believe whilst there will be growing interest in alt coins, bitcoin will continue to be the heart of the movement.

    I think anyone "investing" should hold 30-40% bitcoin along with your alt coins.

    Personally I think you would be a fool not to get involved in this once in a 30 year technology revolution.

    Goes without saying do not invest/punt with anything you are not willing to lose approx 30/50%!

    • +2

      No you don't invest anything you can't lose 100% off. Golden Rule.

  • -2

    I have about 5,000 BTC

  • Am playing the long game, have been investing with my WEED profits from the Canadian stock market.

    Ripple and Stellar (XLM) have been my picks (also have a small amount of ETH and TRN)

    I feel like I'm betting on the bad guys with Ripple, however long term they are a no-brainer. Set and forget

    Also pay close attention to the Aussie Cannabis companies on the ASX

    far more stable than crypto with a massive upside. AC8 is my pick and MMJ as a dark horse

    • +1

      I know what you mean with XRP. I'll feel dirty, but I'll still likely grab some.

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