CRYPTO CURRENCIES

CRYPTO CURRENCIES Pro's and Con's

I first started mining crypto currencies in 2014. I started by mining DECRED at first. I then moved onto LITECOIN and BITCOIN.

In 2017 I decided that I was doing it the hard way, and shifted to just buying/investing through brokers which was perfectly legal at the time. There weren't so many wallet providers around at that time as there are today. Blockchains are data heavy so it was a constant chore to keep core wallets up to date. Although the core wallets were more secure in some ways and had much lower transfer fees, I decided to shift everything to an online trading platform, Bittrex.com. That worked nicely for a while and of course, me being me, I was drawn into swing trading. That move had it's ups and downs, but it was fairly safe and secure and easy to control. However, once the big 'Pump' hit in October 2017 the British Government must have become more aware of the detriment to their monopoly with the increasing popularity of crypto currencies. The goalposts were moved several times in the next eighteen months until it eventually became very difficult to buy or sell crypto currencies from within the UK. I managed to bail out with a 500% profit just before it became completely locked down in 2021. 

Since then I have turned my back on crypto currencies to some extent although I do still keep tabs on the markets that I am interested in. I did hang onto a few BTG (Bitcoin Gold) and kept them in an offline wallet. They are not worth much but I keep them anyway. Monero was another that I had one or two of, I kept them in an ATOMIC wallet which I later found out to be a bad idea.

I am considering looking into the potential for investing in some crypto now, or at least in the near future but I still have my doubts about how the British Government intends to move forward on Crypto currencies as a whole. The introduction of a CBDC (central bank digital currency) is not something that I would subscribe to, mainly because in order to use it, I would need to have some APP' on a phone to do so. That is an absolute NO from my perspective.

I could use a VPN (Virtual Private Network) to bypass many of the hurdles that have been put in place by the British Government. This raises more concerns from a convenience perspective, it's simply not convenient enough. If you already have crypto currencies in offline wallets, then you have nothing to worry about, but if you are trying to break into the markets from the UK, then you have a heck of a job on your hands and I suggest that you do as much research as you can before spending any money.

There are a few options for Phone users to buy.

Finder’s best crypto exchanges and trading platforms in the UK for 2024


COINJAR one of the methods