Should I Buy Ethereum? Can It Really Fall To Zero Now That It Is Still Only Around 15% The Price?
Point 3
If you do decide to buy in, my advice is to buy ETH directly with fiat currency (e.g. US dollars, or whatever). If you get your ETH by buying, say, BTC, then trade the BTC for ETH, in the US, and UK, and probably elsewhere, that creates a taxable event.
If the price of the ETH you’re holding then crashes, you could be left with a large tax bill if you bought a lot (dollar-cost-wise) of ETH with BTC. This is true of all cryptos, not just ETH.
Trade one for another and the taxman sees that as a taxable disposal and will want their cut. There are nuances to this tax rule, but you’d have to research that in your jurisdiction.
I’d say never trade one crypto for another unless you know what you’re doing, and if you’re brand new to this space then I’d say never trade crypto for crypto period. Just buy ETH. Revealing my agenda there 😉
I’d also say that if, having researched what Ethereum is and what it can and could do you decide it has a potentially bright future medium to long term, then follow through with that in your purchasing, unless underlying fundamentals change. Don’t make panic decisions based on emotion. Markets are irrational.
I’ve seen lots of bubbles, bull runs and bear markets. The current bear market is a bad one, but it still doesn’t faze me long term. Nothing has changed in the underlying fundamentals.
OK there have been delays in moving forward with the tech, but I’m prepared to be patient. I don’t see the delays as fundamental game-changing flaws at all.
The people who lose out are ultimately the ones who panic sell on the way down — unless done for carefully calculated tax reasons. (But then if it’s carefully calculated then it’s not done in a panic).
Don’t invest more than you can afford to lose, and (unless, on advice of a crypto tax expert, you are selling on the way down to deliberately make a tax loss) never sell on the way down.
Some people complain that ‘this is EthTRADER’ & is all about regular buying/selling. But the reason this subreddit exists is largely because all discussion of markets and price movement is banned on the main Ethereum subreddit, so it happens here instead. It is not a sub exclusively for regular day-traders.
Finally, there are lots of people who think ETH will go to zero, but they are mostly the ones who sold and quit. The ones with a very pessimistic view of ETH’s future probably capitulated a while back and will not see your comment.
I like going to the basics..
The best way to get started with Ethereum is to jump right in! There are many Ethereum-based applications that you can use today.
Here are just a few apps built on Ethereum — we rotate this list frequently!
- Gitcoin, a network of incentivized open-source developers
- Cent, a social network where you earn money by posting
- CryptoKitties, a game where you collect and breed digital collectible cats
- DAI, a stable cryptocurrency that holds value at $1 USD
How to buy all the listed Cryptocurrencies in the world.
#1. Buy from Coinbase. Visit Coinbase.com/Buy | Total Guide
#2. Transfer the BTC to Binance and purchase any coin you want. Visit Binance.com/Buy | Total Guide
Binance Exchange for US customers.
Visit Binance.us.
Automate Crypto Trading
Thinking of a good FREE TRIAL Tools to use and automate your trading strides?
I recommend these 2 since you can try them out for free.
However, one has an AI integrate on point, which is LiveTrader, while the other does not — CryptoHopper.
Try out LiveTrader Automation Tool for Free
Try out CryptoHopper Automation Tool for Free.
Want to learn more about them side-by-side? This guide will help you.
Welcome.
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REF: atLeastAverage | Owdy | ARN.
Published at Fri, 01 Nov 2019 10:32:49 +0000
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